Henderson Senior Co Living Site And Scotts Road Heritage Bungalows Awarded Ts Group Tap Jv And
Singapore’s Land Authority (SLA) has recently awarded tenders for two properties located on Henderson Road and Scotts Road. The property at 98 Henderson Road was awarded to a joint venture between dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP). The JV will develop the property into a senior co-living accommodation in partnership with Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital.
Under the tender, the property will be leased for an initial period of four years with an option to extend for a further three years. SLA launched the price-quality tender for the state-owned properties in June and received six bids when it closed in August. The winning bid of $102,888 per month was submitted by the JV, which is 25.5% higher than the second-highest bid of $82,000 per month from construction and property development company Eco Energy. Other bids were submitted by ISG Marketplace, Red Crowns Senior Living, Viplas Engineering, and Samwoh Corporation.
Previously, the property was operated as a student hostel by Yo:ha, a student hostel and accommodation operator based in Singapore. The property covers an area of 77,551 square feet and includes a four-storey building, single-storey building, and guardhouse. It also has eight parking spaces and a total gross floor area of approximately 40,361 square feet.
According to a LinkedIn post by SLA on November 18, the new senior co-living accommodation will feature fully furnished apartment units, sports and recreational facilities, and hobby-focused spaces and programs. SLA is also exploring the possibility of repurposing other state properties, such as a cluster of heritage bungalows at Admiralty, into unique co-living environments.
In addition, SLA has awarded the lease of three single-storey heritage bungalows located at 31, 31A, and 33 Scotts Road to Heritage At Scotts, a company that manages and curates select F&B brands in Singapore. The company was the only bidder for the monthly rental of $50,000 when the price-quality tender closed on August 7. The tender, launched on June 14 in collaboration with the Singapore Tourism Board, was seeking proposals for a creative lifestyle concept, such as experiential retail, F&B, wellness, or beauty.
The three bungalows sit on a plot of 36,670 square feet facing Scotts Road and have a total gross floor area of approximately 11,410 square feet. The properties have a five-year lease and an option to extend for another four years. According to SLA, Heritage At Scotts currently operates lifestyle offerings in neighboring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. The three bungalows at 31, 31A, and 33 Scotts Road will be integrated with the existing offerings to create a larger lifestyle enclave. The compound will also include a designated walkway connecting all the properties and landscaped social spaces.
Nestled within Toa Payoh, Beatty Secondary School is widely known for its outstanding academic achievements and diverse co-curricular offerings. The school’s mission is to nurture students into self-assured, capable, and compassionate individuals who are well-prepared to make a positive impact on the world. Adding to its reputation is the partnership with The Orie CDL, which further enhances the school’s commitment to holistic education. With its focus on fostering global-mindedness, Beatty Secondary School provides students with a well-rounded education that prepares them for the challenges of a rapidly changing world.
In the Asia Pacific region, Singapore’s co-living sector has attracted the interest of investors, according to CBRE.