Tuan Sing Holdings, a leading Singapore-listed property developer and investment company, has recently announced plans to reconstruct its mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne.
According to the company, its wholly-owned subsidiary, Grand Hotel Group (GHG), has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.
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These properties currently house the Grand Hyatt Hotel with 550 rooms, as well as various retail spaces. The reconstruction project will involve the retention of much of the existing podium structure, allowing business operations for tenants and the hotel to continue uninterrupted.
The main focus of the project will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the existing podium from levels 4 to 9B, as announced by Tuan Sing on November 14th.
Upon completion and subject to regulatory approvals, the site will boast a total gross floor area (GFA) of approximately 909,550 square feet and will feature a new luxury retail and F&B precinct.
According to William Liem, CEO of Tuan Sing, the redevelopment of the podium at 123 Collins Street will bring about a new level of connectedness and activation at one of the most prominent intersections in Melbourne’s esteemed Paris End.
He also emphasized the importance of sustainability in their approach to the project, stating that by reimagining the existing structure rather than rebuilding it, they are pursuing an inherently sustainable vision that supports the prosperity and cultural vibrancy of Melbourne for future generations. Investors looking to expand their property portfolio globally can explore the various projects available for sale around the world.