Tuan Sing Holdings, a property developer and investment firm listed in Singapore, has revealed its plans to reconstruct two mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne.
Grand Hotel Group (GHG), a wholly-owned subsidiary of Tuan Sing, has engaged Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.
Currently, the properties house the popular 550-room Grand Hyatt Hotel and various retail spaces. The proposed reconstruction will largely retain the existing podium structure, allowing business operations for existing tenants and the Grand Hyatt Hotel to continue uninterrupted.
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According to Tuan Sing’s announcement on Nov 14, the works will focus on façade modifications, extensive refurbishment, and reconfiguration of spaces in the property’s podium from levels 4 to 9B. Upon completion, and subject to regulatory approvals, the site will have a total gross floor area (GFA) of approximately 909,550 sq ft and will also introduce a new luxury retail and F&B precinct.
Tuan Sing’s CEO, William Liem, believes that the redevelopment of the podium at 123 Collins Street will bring about a new level of connectedness and activation to one of the most prominent intersections in Melbourne’s renowned Paris End. He also emphasises the company’s commitment to sustainability, stating that the transformation of the properties will not involve a complete rebuild, but rather a reimagination of the existing structures. This approach, he believes, will contribute to a thriving, connected, and culturally vibrant Melbourne for generations to come. For those interested in investing in overseas properties, there are various projects available for sale around the world.