Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
Noontalk Media submitted the highest proposal of $180,000, followed by runner-up CBA. Other proposals ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 proposal from IGYM Fitness.
According to SLA, the revitalised Smith Street will see a brand-new line-up of way of life concepts and eating experiences. It says that CBA’s proposition of “distinguished way of living principles, complementary programmes and upgrades to the public realm intends to better promote local Chinese heritage and strengthen the identity of the location”.
The Chinatown Business Association (CBA) has actually won the tender for a row of famous shophouses throughout Smith Street in Chinatown. CBA consists of stakeholders operating in Chinatown, such as business leaders, grassroots leaders, Chinese clan associations, hoteliers, hawkers and retailers.
The tender to assign a sole master lessee to look after the historical row of shophouses at 11 to 37 Smith Street was mutually introduced by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November last year.
“Visitors to Chinatown Singapore can expect even more curated services and experiences for both locals and visitors upon the completion of the Smith Street restoration venture. We are looking to bring in more engaging and experiential community programmes, as well as more different offerings just like creative way of living, retail industry and co-living/co-working approaches, while maintaining and celebrating the place’s ethnical and building culture,” claims Lim Yick Suan, managing director, Chinatown Business Association.
The master lessee are going to carry out the integrated management of the shophouses and an adjacent State land plot, which have a total land area of 34,066 sq ft and an estimated gross floor area of 33,065 sq ft.
Lim claims that the tender exercise was “extremely challenging” however CBA benefitted from its energetic existence in the district for over two decades. “Over the two decades, we have actually constructed and sustained partnerships, and this has actually bought us an ingrained link to the ground,” she claims. The organisation has organised past event such as wide-scale festival celebrations such as Five Footway Celebration and Dumpling Festival, to motif markets, street activities, events and workshops.
“This experience is one-of-a-kind to CBA, and we wish to utilize on our relationships in the community and expertise of Chinatown Singapore’s heritage and way of life to inject even more vibrancy to Smith Street and Chinatown Singapore,” states Lim.
She adds that CBA is going to introduce “uniquely Singaporean F&B offerings and international food offers for either citizens and travelers to indulge in at Smith Road”.
The tender was evaluated based on rate and the top quality of each sent idea. It brought in 5 various prospective buyers the minute the tender came March, including CBA which sent the winning offer of $123,000. As the master renter, CBA will take care of the real estates for 5 years plus a 2nd term of 4 years.
