by Joyce Teo, Property Correspondent

THE Fragrance Group, a hotel and property developer, has submitted a whopper bid in a tender for the use of two blocks at the old Changi military camp.

Its Fragrance Hotel Management has offered a monthly rent of $125,000, or $24.52 per sq m (psm), for the vacant state properties, which it plans to develop into a hotel.

The bid is miles ahead of the $28,500-a-month guide rent set by the Singapore Land Authority (SLA), which is effectively the landlord.

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