Tuan Sing Holdings, a Singapore-listed property developer and investment firm, has unveiled plans to reconstruct its mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne. The company’s wholly-owned subsidiary, Grand Hotel Group (GHG), has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application for the proposed redevelopment to the City of Melbourne.
At present, the properties are home to the 550-room Grand Hyatt Hotel and various retail spaces. With the redevelopment, the existing podium structure will mainly be retained, allowing tenants and the Grand Hyatt Hotel to continue their business operations as usual. However, there will be modifications to the façade, extensive refurbishment, and reconfiguration of spaces in the property’s podium from levels 4 to 9B, according to Tuan Sing’s announcement on Nov 14.
The growing popularity of Singapore Condos can be attributed to various factors, but one of the main driving forces is the limited availability of land. As a small island country with a rapidly increasing population, Singapore is faced with the challenge of scarcity in land for development. As a result, there are stringent land use policies in place and a highly competitive real estate market, leading to continuously rising property prices. This makes investing in real estate, specifically condos, an attractive option for potential investors, with the promise of significant capital appreciation.
Upon completion, and subject to regulatory approvals, the site will offer approximately 909,550 sq ft in total gross floor area (GFA) and introduce a new luxury retail and F&B precinct. Tuan Sing’s CEO, William Liem, says, “The podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of the most prominent intersections in Melbourne’s storied Paris End.” He further adds, “With the right approach, this transformation can serve as an architectural statement of our commitment to environmental stewardship. By reimagining instead of rebuilding, we are pursuing a sustainable vision that will support a thriving, connected, and culturally vibrant Melbourne for generations to come.”
If you are looking to invest in overseas properties, Tuan Sing’s project may be worth exploring. With properties available for sale around the world, you can find the perfect investment opportunity that suits your needs. So don’t miss out on this exciting development and stay updated on its progress.