In the tender for a series of two-story heritage buildings at 15-31 Hindoo Road in Little India, Kenwa Corporation has triumphed. With a maximum monthly rental price of $52,000, the local contractor outbid five other rivals in the dual envelope Price-Quality tender, therefore clinching the win. The tender comprises a five-year lease with an option to stretch for four more years. Launching this tender for the State-owned properties in January, the Singapore Land Authority (SLA) invited interested parties to submit co-living ideas to rejuvenate the heritage buildings. With the tender concluded on March 27, six bids in all drew in.
Comprising nine red-bricked colonial-era residential terraces on a 15,685 sq ft site, each terrace house boasts a backyard and a balcony. The gross floor area (GFA) of the properties is 19,698 sq ft taken overall. To meet different co-living needs, SLA projects that these nine terrace homes might together house two-bedroom flats and more sizable five- to seven-bedroom units. With a winning proposal of $52,000 per month, Kenwa offers a notable 23.8% premium over the next highest bid of $42,000 per month provided by SCB Building Construction. With bids ranging from $22,000 to $30,000 month, other bidders included TAP Co-Livings, Prime Residence Home, Knowledge Production, and Keystone Accommodation B.
This tender marks the second co-living location SLA has moved along Hindoo Road in order to draw co-living concepts. Last year, a like row of terrace homes between 79 and 95 Hindoo Road was started for co-living. When it closed in August 2023, that tender attracted 16 offers and generated significant attention. Eventually it went to Cove Living and its partner, Eco-Energy, a building and development business. Cove intends to build their land into “1925 Quarters,” an 18-key co-living building with an 18,299 square foot gross floor area.
