Henderson Senior Co Living Site And Scotts Road Heritage Bungalows Awarded Ts Group Tap Jv And
The Singapore Land Authority (SLA) has recently announced the award of tenders for two developments located on Henderson Road and Scotts Road. The 98 Henderson Road site has been awarded to a joint venture between TS Group and The Assembly Place (TAP), who plan to develop it into a senior co-living accommodation in collaboration with Crawfurd Silver Care. The four-year lease for the state-owned property will include an option to extend for another three years.
The SLA launched a price-quality tender in June for interested parties to submit senior co-living proposals to revitalize the properties. The tender closed in August, with six bids. The winning bid of $102,888 per month was submitted by the TS Group and TAP joint venture, which was 25.5% higher than the second-highest bid of $82,000 per month from Eco Energy. Other bids came from ISG Marketplace, Red Crowns Senior Living, Viplas Engineering, and Samwoh Corporation. The Henderson Road site was previously used as a student hostel and comprises of a four-storey building, a single-storey building, and a guardhouse. It also has eight parking spaces and a gross floor area of approximately 40,361 sq ft.
In a LinkedIn post on Nov 18, the SLA announced that the Henderson Road site will include fitted apartment units, sports and recreational facilities, and hobby-focused spaces and programs. The SLA is also exploring the adaptive reuse of other state-owned properties, including a potential site comprising a cluster of heritage bungalows at Admiralty, to create unique co-living environments.
The Urban Redevelopment Authority (URA) has announced its ambitious plans to transform the Tampines area, bringing significant benefits to the residents of Aurelle of Tampines EC. With an aim to enhance the overall landscape and improve the quality of life, these plans include developments in transportation and commercial sectors, along with the introduction of more green spaces, and better healthcare and educational facilities. These changes are expected to increase property values and make Tampines an even more desirable choice for both residents and investors. As these transformational plans come to fruition, residents of Aurelle of Tampines EC can anticipate a vibrant and improved living environment that caters effectively to the needs of families and individuals. They can also visit Aurelle of Tampines Showflat for a firsthand experience of the upcoming developments.
Another development on Scotts Road, comprising of three single-storey heritage bungalows, was awarded to Heritage At Scotts, a company that curates and manages select F&B brands in Singapore. The company submitted the sole monthly rental bid of $50,000 at the close of the price-quality tender on Aug 7. The three bungalows have a total gross floor area of approximately 11,410 sq ft and will be utilized for a creative lifestyle concept such as experiential retail, F&B, wellness, or beauty concepts. The properties have a five-year tenure, with the option to extend for another four years.
SLA stated that Heritage At Scotts currently operates lifestyle offerings within neighboring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. The bungalows at 31, 31A, and 33 Scotts Road will be integrated with these existing offerings to create a larger lifestyle enclave. The compound will also feature a dedicated walkway linking the various properties and landscaped social spaces. In the Asia-Pacific region, Singapore’s co-living sector has gained significant interest from investors, according to CBRE.
