Preserving Heritage While Creating a Multi-Generational Community Hub
Executive Summary
The 2 Moulmein Road redevelopment represents one of Singapore’s most significant heritage adaptive reuse projects. Spanning 91,000 square meters with 44 historic buildings, the former Middleton Hospital and Communicable Disease Centre site is being transformed into a vibrant lifestyle destination by Country City Investment. This case study examines how the project balances heritage conservation with contemporary community needs, creating a sustainable model for historic site redevelopment in urban Singapore.
Winner: Country City Investment, which manages Dempsey Hill, won the tender with a bid of $388,800 per month HardwareZoneHardwareZone — beating out 12 other bidders.
Competition: Cherrylofts Resorts and Hotels came in second at $382,000, while IndoChine Group-linked SA31 bid $290,000.
Evaluation Criteria: The tender was evaluated with 40% weighting on price and 60% on the quality of the developer’s concept HardwareZoneHardwareZone, which likely gave Country City an edge given their track record with heritage site transformations.
The Site: Originally established as Middleton Hospital in 1913, the 91,000 square meter estate contains 44 heritage buildings and served as the Communicable Disease Centre until 2018 HardwareZone.
Heritage Restrictions: Of the 44 buildings, 23 must follow addition and alteration guidelines to preserve character, while the other 21 cannot be demolished but are exempt from these guidelines HardwareZoneHardwareZone.
Planned Development: Country City plans to create a multi-generational lifestyle destination featuring dining, wellness facilities, sports amenities, learning spaces, pet-friendly areas, and retail, with an expected opening in the first quarter of 2027.
The project represents another adaptive reuse success story for Country City, which has been managing parts of Dempsey Hill since 2007.
Project Overview
Location: 2 Moulmein Road, Balestier/Novena Area
Site Area: 91,000 sq m (985,350 sq ft)
Gross Floor Area: Approximately 139,705 sq ft
Number of Buildings: 44 heritage structures
Developer: Country City Investment
Tender Award: December 8, 2025
Monthly Rent: $388,800 (approximately $0.39 psf on land, $2.78 psf/month on GFA)
Expected Opening: Q1 2027
Tender Type: Master tenancy agreement by Singapore Land Authority (SLA)
Historical Context
From Healthcare to Heritage
The site’s rich history spans over a century of serving Singapore’s public health needs:
1913-2018: A Healthcare Legacy
- Established as Middleton Hospital in 1913
- Served Singapore’s healthcare infrastructure for over 100 years
- Later operated as the Communicable Disease Centre
- Decommissioned in 2018, creating opportunity for adaptive reuse
Architectural Significance
- 44 buildings representing colonial-era and mid-century healthcare architecture
- 23 buildings subject to strict addition and alteration guidelines to preserve character
- 21 buildings protected from demolition but exempt from alteration guidelines
- One of Singapore’s largest intact heritage complexes
The Tender Process
Market Engagement and Competition
The Singapore Land Authority took a comprehensive approach to identifying the right developer:
Pre-Tender Consultation
- Extensive market engagement to gather ideas and gauge interest
- Assessment of site complexity and heritage requirements
- Development of evaluation criteria balancing commercial viability with heritage sensitivity
Competitive Bidding
- 13 bids received from developers
- Strong interest reflecting recognition of site’s unique potential
- Range of proposals from various lifestyle and hospitality operators
Evaluation Criteria
- 40% weighting on financial offer
- 60% weighting on concept quality and execution capability
- Emphasis on developer track record with heritage properties
Winning Bid Analysis
Country City Investment: $388,800/month
- Highest financial offer, but only marginally above second place
- Strong differentiation through concept quality and proven track record
- Experience with Dempsey Hill transformation provided competitive advantage
Runner-up: Cherrylofts Resorts and Hotels: $382,000/month
- Close second place bid (difference of only $6,800/month or 1.8%)
- Demonstrates strong market interest and commercial viability
Third Place: SA31 (IndoChine Group-linked): $290,000/month
- Significant gap to top two bidders
- Alternative vision potentially less aligned with evaluation criteria
Economic Viability Assessment
Rental Economics
Base Rent Analysis
- Monthly rent of $388,800 translates to approximately $2.78 psf/month on GFA
- District 11 median retail rents: $12.60 psf/month (Q3 2025)
- Base rent represents only 22% of market retail rates
- Provides substantial margin for tenant fit-out, operations, and profitability
Financial Feasibility According to market analysts, the economics are favorable:
- Low base rent enables diverse tenant mix across price points
- Room for both premium F&B concepts and community-oriented affordable offerings
- Flexibility to support concept execution without excessive rental burden
- Sustainable long-term model given location and heritage appeal
Development Concept
Multi-Generational Destination Vision
Country City Investment’s winning concept centers on creating an inclusive community hub serving diverse demographic segments:
Thematic Zones by Age Group and Interest
- Family-oriented spaces with learning and enrichment facilities
- Youth engagement areas
- Senior-friendly amenities and gathering spaces
- Pet-friendly zones responding to Singapore’s growing pet ownership
Core Programming Elements
- Food & Beverage
- Curated dining experiences from casual to fine dining
- Café culture supporting extended visits
- Heritage building settings creating unique dining atmosphere
- Sports & Wellness
- Sports facilities serving Novena residents and wider community
- Wellness programming complementing healthcare heritage
- Active lifestyle amenities
- Learning & Enrichment
- Educational spaces for families
- Skill development programs
- Community workshops and events
- Retail
- Curated retail offering aligned with lifestyle positioning
- Focus on experiential over transactional shopping
- Support for local and independent retailers
Design Philosophy
- Preservation of heritage estate character
- Improved accessibility throughout the site
- Inclusive public spaces encouraging lingering and community interaction
- Balance between commercial activation and community value
Strategic Positioning
Location Advantages
Balestier/Novena Context
- Central location with excellent connectivity
- Proximity to healthcare institutions (Tan Tock Seng Hospital, Novena Medical Center)
- Mature residential catchment in Balestier and Novena areas
- Growing commercial activity in Novena precinct
- Rich heritage context within historic Balestier district
Remaining in Balestier Care The site remains deeply connected to the Balestier area’s identity:
- Contributes to Balestier’s heritage preservation efforts
- Complements existing mix of traditional shophouses and modern developments
- Serves established residential communities
- Reinforces Balestier’s character as heritage-meets-contemporary district
Heritage Conservation Approach
Regulatory Framework
Conservation Requirements
- 23 buildings: Subject to addition and alteration guidelines preserving character
- 21 buildings: Protected from demolition, flexible alteration approach
- Balancing preservation mandates with functional requirements
- Working within SLA guidelines and Urban Redevelopment Authority regulations
Conservation Philosophy
- Adaptive reuse maintaining structural integrity and character
- Modern interventions clearly distinguishable from historic fabric
- Functional upgrades (mechanical, electrical, accessibility) integrated sensitively
- Heritage as asset rather than constraint
Developer Profile and Experience
Country City Investment Track Record
Dempsey Hill Transformation (2007-Present)
- Management of former Tanglin Barracks military site
- Creation of lifestyle enclave featuring dining, retail, and recreation
- Successful balance of heritage preservation and commercial activation
- Proven ability to attract quality tenants and programming
- Established reputation in heritage adaptive reuse
Competitive Advantages
- 18+ years experience with SLA heritage properties
- Established relationships with F&B, retail, and lifestyle operators
- Understanding of Singapore’s regulatory environment
- Financial capacity for long-term development
- Patient capital approach suitable for heritage projects
Implementation Timeline and Approach
Current Phase (December 2025 – Q1 2026)
- Planning and approvals with SLA
- Detailed design development
- Heritage impact assessments
- Tenant recruitment and curation
Construction Phase (2026)
- Phased renovation respecting heritage fabric
- Infrastructure upgrades (utilities, accessibility, safety)
- Tenant fit-out coordination
- Public realm improvements
Opening (Q1 2027)
- Staged activation by precinct
- Community programming rollout
- Initial tenant operations
- Ongoing leasing for remaining spaces
Stakeholder Considerations
Community Integration
Serving Multiple Constituencies
- Novena and Balestier residents seeking community amenities
- Healthcare workers from nearby institutions
- Visitors exploring Singapore’s heritage districts
- Families seeking multi-generational activities
- Pet owners requiring inclusive spaces
Community Benefits
- Accessible public spaces in well-located site
- Programming serving diverse age groups and interests
- Preservation of historic buildings for public appreciation
- Local employment opportunities
- Enhanced neighborhood vibrancy
Public Sector Objectives
Singapore Land Authority Goals
- Optimal value extraction from state property
- Heritage preservation aligned with conservation policies
- Community benefit maximization
- Sustainable long-term management model
- Demonstration project for future heritage site adaptations
Risk Factors and Mitigation
Project Risks
Heritage Conservation Complexity
- Risk: Unforeseen structural or conservation challenges
- Mitigation: Thorough building assessments, contingency planning, experienced conservation architects
Market Demand Uncertainty
- Risk: Tenant and visitor attraction in competitive F&B/retail market
- Mitigation: Developer’s proven track record, low base rent enabling tenant viability, differentiated heritage proposition
Regulatory and Approval Processes
- Risk: Delays in planning and conservation approvals
- Mitigation: Early engagement with authorities, experienced development team, realistic timeline
Economic Conditions
- Risk: Economic downturn affecting consumer spending and tenant viability
- Mitigation: Diversified tenant mix, community-oriented programming reducing pure commercial dependency
Success Factors
Critical Elements for Project Success
- Heritage Authenticity
- Genuine preservation respecting building history and character
- Avoiding superficial “heritage-washing”
- Educational interpretation helping visitors understand site significance
- Tenant Curation
- Quality over quantity in selecting operators
- Mix balancing commercial viability with community value
- Avoiding over-commercialization that undermines heritage atmosphere
- Community Engagement
- Programming that genuinely serves local residents
- Accessible pricing alongside premium offerings
- Regular community events building neighborhood connection
- Operational Excellence
- Consistent maintenance of heritage buildings
- High-quality visitor experience and amenities
- Responsive management addressing community feedback
- Long-term Vision
- Patient development approach respecting heritage sensitivity
- Sustainable business model supporting ongoing conservation
- Adaptation to evolving community needs over time
Comparative Context
Similar Heritage Adaptive Reuse Projects
Dempsey Hill
- Precedent by same developer
- Former military barracks to lifestyle enclave
- Established model for heritage F&B/retail transformation
- Lessons learned applicable to Moulmein Road
Gillman Barracks
- Military heritage site repurposed for arts and dining
- Demonstrates viability of cultural programming in heritage settings
- Different positioning (arts-focused vs. community-oriented)
The Establishment at Prinsep
- Heritage conservation with hospitality and F&B
- Smaller scale but similar adaptive reuse approach
- Market validation for heritage lifestyle developments
Broader Implications
Significance for Singapore’s Urban Development
Heritage Conservation Model
- Demonstrates financial viability of large-scale heritage preservation
- Balances conservation with economic productivity
- Potential template for future state property redevelopment
Community Place-Making
- Repurposing underutilized state assets for community benefit
- Creating third places beyond home and work
- Addressing need for multi-generational community spaces
Sustainable Urban Development
- Adaptive reuse reducing demolition and construction waste
- Preserving embodied energy in existing buildings
- Carbon-sensitive approach to urban renewal
Key Takeaways
- Heritage as Commercial Asset: The 2 Moulmein Road project demonstrates that heritage conservation and commercial viability are not mutually exclusive when approached strategically with appropriate developer expertise.
- Evaluation Criteria Matter: SLA’s 60% weighting on concept quality over pure financial return ensured selection of developer best positioned for successful long-term heritage management.
- Track Record Crucial: Country City Investment’s Dempsey Hill success provided credible evidence of capability to execute complex heritage adaptive reuse projects.
- Community-Centric Approach: The winning concept prioritizes genuine community benefit through multi-generational programming rather than purely commercial extraction.
- Patient Capital Required: Heritage adaptive reuse projects demand developers with long-term vision and financial capacity to invest in preservation and quality execution.
- Location Matters: The site’s position in Balestier/Novena provides strong residential catchment and heritage district context supporting the lifestyle destination vision.
- Regulatory Framework: Clear conservation guidelines balanced with operational flexibility enable creative adaptive reuse while preserving heritage character.
Conclusion
The 2 Moulmein Road redevelopment represents a significant opportunity to demonstrate best practices in heritage adaptive reuse within Singapore’s urban context. By selecting Country City Investment through a thoughtful evaluation process emphasizing concept quality and execution capability, SLA has positioned the project for success in balancing heritage preservation, commercial viability, and community benefit.
The project’s scheduled Q1 2027 opening will mark the transformation of a century-old healthcare site into a vibrant multi-generational community destination, contributing to Balestier’s ongoing evolution while respecting its historic character. As Singapore continues to mature as a city, such projects provide valuable models for preserving heritage buildings through economically sustainable adaptive reuse that serves contemporary community needs.
The coming years will test whether this vision can be successfully realized, but the fundamentals are promising: an experienced developer, supportive regulatory framework, strong location, and differentiated heritage-based positioning in Singapore’s competitive lifestyle and F&B landscape.
Document Date: December 2025
Status: Project awarded, pre-development phase
Next Milestone: Planning approvals and detailed design (2026)