Sla Launches Tender Senior Co Living Concept 98 Henderson Road
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The Singapore Land Authority (SLA) has recently announced a Price-Quality tender for a 77,551 sq ft site located at 98 Henderson Road. The site is designated for serviced apartment (co-living) use and is envisioned as a new inter-generational residence that promotes independent senior living and active ageing.
In a bid to offer this unique living concept, the site will be leased for a period of four years with an option for an additional three years, subject to the discretion of the government. The property on Henderson Road comprises of one four-storey building, one single-storey building, and a guardhouse, with an estimated gross floor area of 40,361 sq ft. The site also has seven surface car park lots and a handicap lot.
As per the latest Master Plan, the site is designated as a “reserve” plot with no specific land use. The terms of the tender also specify that the minimum stay for serviced apartments on this site is one week, and a hotel license is not required. Additionally, any F&B or retail use will not be allowed on the site.
Previously, the site was used as a student hostel managed by yo:ha and is situated next to Econ Care Residence (Henderson), a nursing home managed by Econ Healthcare Singapore.
Interested parties can attend a site visit organized by the SLA on July 2 and July 9. The tender for the lease of this state property will close on August 7. This presents a unique opportunity for developers and investors to be a part of the growing trend of co-living and active ageing in Singapore.