Henderson Senior Co Living Site And Scotts Road Heritage Bungalows Awarded Ts Group Tap Jv And
Singapore Land Authority (SLA) has recently announced the awarding of tenders for two sites located on Henderson Road and Scotts Road. The successful tender for the site at 98 Henderson Road was given to a joint venture between dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP). The partnership aims to develop the site into a senior co-living accommodation in partnership with Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital.
The tender process, which began in June, invited interested parties to submit senior co-living proposals to rejuvenate the state-owned properties. The tender was closed in August with six bids, and the winning bid was awarded to the JV at a monthly rate of $102,888. This is 25.5% higher than the second-highest bid of $82,000 submitted by Eco Energy, a construction and property development company. Other bids were received from ISG Marketplace, Red Crowns Senior Living, Viplas Engineering, and Samwoh Corporation.
On June 27, a press release was issued by the collaborators of the joint venture, revealing their plans for the upcoming Parktown Residence project. This development will consist of around 1,190 fresh dwellings, along with convenient retail and community facilities that cater to the evolving demands of the expanding residential community in Tampines North. Additionally, interested individuals can take a look at the Parktown Residence Showflat at https://www.parktown-residences.com.sg/ for more information.
Previously operated as a student hostel by Yo:ha, the Henderson Road site spans 77,551 sq ft and includes a four-storey building, a single-storey building, and a guardhouse. It also has eight parking spaces and a total gross floor area of about 40,361 sq ft. According to a LinkedIn post by SLA, the site will feature fitted apartment units, sports and recreational facilities, as well as spaces and programs focused on hobbies.
SLA is currently exploring the adaptive reuse of more state-owned properties for differentiated co-living environments, including a potential site that comprises a cluster of heritage bungalows at Admiralty.
In addition, the three single-storey heritage bungalows at 31, 31A, and 33 Scotts Road have been 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 during the tender process, which was conducted in collaboration with the Singapore Tourism Board. The properties sit on a 36,670 sq ft plot facing Scotts Road and have a total gross floor area of about 11,410 sq ft. The tenure for these properties is five years, with an option to extend for another four years.
SLA also mentioned that Heritage At Scotts currently operates lifestyle offerings in neighboring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. With the addition of the three bungalows at 31, 31A, and 33 Scotts Road, the company plans to create a larger lifestyle enclave with a dedicated walkway connecting the various properties and landscaped social spaces.
According to CBRE, Singapore’s co-living sector has attracted investor interest in the Asia Pacific region, and the trend is expected to continue. The government’s support through initiatives such as adaptive reuse of state-owned properties for co-living environments is likely to further boost the sector’s growth in the country.