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SLA awards Henderson Road co-living site to TS Group-TAP JV; Scotts Road site to Heritage At Scotts

/ EdgeProp Singapore |

November 18, 2024 5:33 PM SGT

The site at 98 Henderson Road (Photo: SLA)

SINGAPORE (EDGEPROP) - The Singapore Land Authority (SLA) recently awarded tenders for two sites on Henderson Road and Scotts Road.

The tender for the site at 98 Henderson Road was awarded to a joint venture (JV) between dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP).

The JV will develop the site into a senior co-living accommodation in collaboration with Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital.

The tender includes an initial four-year lease, with the option to extend for a second three-year term.

SLA launched the price-quality tender for the state-owned properties in June, inviting interested parties to submit senior co-living proposals to rejuvenate them. The tender closed in August with six bids.

The JV’s winning bid of $102,888 per month (pm) is 25.5% higher than the second-highest bid of $82,000 pm submitted by Eco Energy, a construction and property development company.

Other bids came from ISG Marketplace ($73,000 pm), Red Crowns Senior Living ($56,000 pm), Viplas Engineering ($28,800 pm), and Samwoh Corporation ($21,889 pm).

The property was formerly a student hostel operated by Yo:ha, a Singapore-based student hostel and accommodation operator. The 77,551 sq ft Henderson Road site comprises a four-storey building, another single-storey building, and a guardhouse. It also has eight parking spaces. The site has a total gross floor area of about 40,361 sq ft.

According to a Nov 18 LinkedIn post by SLA, the Henderson Road site will have fitted apartment units, sports and recreational facilities, and hobby-focused spaces and programmes.

SLA adds that it is currently exploring the adaptive reuse of more asset classes of state properties for differentiated co-living environments, including a potential site comprising a cluster of heritage bungalows at Admiralty.

Meanwhile, the site of three single-storey heritage bungalows at 31, 31A, and 33 Scotts Road was awarded to Heritage At Scotts, a company that curates and manages select F&B brands in Singapore. The company had submitted the sole monthly rental bid of $50,000 at the close of the price-quality tender on Aug 7.

The exterior of the bungalow at 33 Scotts Road (Photo: SLA)

The tender for the trio of colonial-era bungalows was launched on June 14 in collaboration with the Singapore Tourism Board. The tender is for a creative lifestyle concept, such as experiential retail, F&B, wellness, or beauty concepts.

The three bungalows sit on a 36,670 sq ft plot fronting Scotts Road and have a total gross floor area of about 11,410 sq ft. The properties have a five-year tenure, with the option to extend for another four years.

According to SLA, Heritage At Scotts currently operates lifestyle offerings within neighbouring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road.

The bungalows at 31, 31A and 33 Scotts Road will combine Heritage At Scotts’ existing offerings to form a larger lifestyle enclave. The integrated compound will include a dedicated walkway linking the various properties and landscaped social spaces.