Tender for private assisted living site at Parry Avenue closes with four bids
/ EdgeProp Singapore |
The residential site at Parry Avenue is for a pilot assisted living development on a 60-year lease (Source: URA)
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SINGAPORE (EDGEPROP) - The tender for a private assisted living development site at Parry Avenue closed on March 21. The 12,912.1 sqm (138,986 sq ft) residential site was launched for sale by URA together with the Ministry of Health (MOH) last September. It is designated for a pilot development aimed at expanding the range of housing-cum-care options catering to senior housing needs.
Tenderers were invited to submit proposals for innovative assisted living models that can provide services such as active ageing activities, housekeeping and regular care assessments. Following an evaluation by a committee chaired by MOH, shortlisted proposals will proceed to the second stage of evaluation, which will be based on price. The decision on the award of the tender will be announced at a later date.
The tender closed with four submissions received for the site. One submission was from a consortium between Evia Real estate, Allium Healthcare Holdings, Yuan Ching Development and YK Realty. Pre 20 (a subsidiary of Perennial Holdings) made two separate submissions, while the remaining submission was from United Medicare Development.
Lam Chern Woon, head of research and consulting at Edmund Tie, notes that all the bidders have healthcare experience. Allium Healthcare Holdings operates a residential aged-care accommodation development, while United Medical Development is an operator of private nursing homes.
Meanwhile, Perennial, in a joint venture with Orpea Singapore, previously submitted the sole bid for a proposed dementia village at Gibraltar Crescent in Sembawang. The tender for the site, which closed in January 2020, was not awarded as the price bid of $15 million was deemed too low.
The Parry Avenue site is on a 60-year lease and is located within Rosyth Estate. It can be developed into an assisted living development comprising flats or a combination of flats and landed houses. Individual living units are expected to have an average size of at least 32 sqm (344 sq ft).
The development will have a maximum height of five storeys, with a minimum gross floor area (GFA) of 16,270 sqm (175,130 sq ft) and a maximum GFA of 18,077 sqm (194,581 sq ft). At least 60% of the maximum GFA shall be for assisted living use, including individual living units and communal spaces. At least 20% of the maximum GFA shall be for health and medical care use, which includes the mandatory provision of 100 nursing home beds.
The development will include a neighbourhood park and is located near dining and shopping amenities, such as Serangoon North Neighbourhood Centre and Heartland Mall. It offers a conducive environment for seniors to live independently within an established residential neighbourhood.
Nicholas Mak, head of research and consultancy at ERA Singapore, notes that the site tender is part of the government’s initiatives to drive senior care in support of Singapore’s silver generation. “An example would be the launch of public assisted living flats also known as Community Care Apartments (CCA) in Bukit Batok in February 2021. The site at Parry Avenue follows a similar concept to the CCA in Bukit Batok, albeit it being a private development rather than a public one,” he observes.
Mak adds that the site serves as a trial for future private assisted living developments. “Authorities were mindful to implement necessary guardrails for the development to prevent developers from building a typical condominium for strata-unit sales and risk compromising the essence of this project,” he says.
These guardrails include prohibiting the developer from subdividing the land, a minimum age of 65 years for future residents, and a minimum lease duration of three months for tenants.
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