Tuan Sing Holdings, a property developer and investment firm listed in Singapore, has announced its plans to reconstruct two of its mixed-use properties in Melbourne city. These properties, located at 121-131 Collins Street and 23-25 George Parade, will be redeveloped by the company’s subsidiary, Grand Hotel Group (GHG). To achieve this, Tuan Sing has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne.
The current buildings on the site house the popular Grand Hyatt Hotel and various retail spaces. The reconstruction project aims to retain much of the existing podium structure, ensuring that all tenants and the hotel can continue their usual operations. The focus will be on making modifications to the façade, extensive refurbishment, and reconfiguration of spaces in the podium levels 4 to 9B. According to Tuan Sing’s announcement on November 14, the completed project will have a total gross floor area of about 909,550 sq ft, subject to regulatory approvals. It will also introduce a new luxury retail and F&B precinct.
Tuan Sing’s CEO, William Liem, believes that this redevelopment will redefine connectivity and activation at one of Melbourne’s most prominent intersections in the historic Paris End. He also emphasizes the company’s commitment to environmental stewardship by pursuing a sustainable approach to the transformation. Instead of completely rebuilding the properties, the company aims to reimagine and repurpose them to create a thriving, connected, and culturally vibrant Melbourne for future generations.
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Due to the limited availability of land, there is a high demand for condos in Singapore. Being a small island nation with a rapidly growing population, Singapore faces the challenge of finding space for development. As a result, strict land use regulations and a fiercely competitive real estate market are in place, leading to consistently rising property prices. This has made investing in real estate, especially condos, a lucrative option with the potential for significant capital appreciation. With the numerous Singapore Projects available, the demand for condos is only expected to continue to rise in the future.
For those interested in investing in overseas properties, this project presents an exciting opportunity. With its prime location and plans for a luxury retail and F&B precinct, the reconstructed properties at 121-131 Collins Street and 23-25 George Parade are sure to generate significant interest and yield impressive returns.