Tuan Sing Holdings Ltd has received a crucial planning permit from the Melbourne City Council, paving the way for the redevelopment of its flagship property at 121-131 Collins Street. The project, managed through its subsidiary Grand Hotel Group, aims to transform the site into a premier destination featuring luxury retail and a world-class hotel. The redevelopment is set to commence early next year.
The property currently houses the 550-room Grand Hyatt Hotel and various retail spaces. The redevelopment plans include a new luxury retail podium spanning three levels, with flagship duplexes and a revitalised façade to enhance the streetscape along Collins and Russell Streets. This initiative aims to inject new energy into Melbourne’s “Paris End,” enriching the community experience.
Chief Executive Officer William Liem expressed enthusiasm about the project, stating, “This milestone sets the stage for redevelopment works to commence early next year.” He emphasised the project’s commitment to environmental sustainability, noting that the approach focuses on re-imagining rather than rebuilding.
The redevelopment will be funded through a combination of bank financing and internal resources. Upon completion, the property is expected to command higher rents, boost cashflow, and achieve a stronger valuation, contributing to Tuan Sing’s long-term growth strategy.
