THE Urban Redevelopment Authority (URA) yesterday received surprisingly high bids for a transitional office site at Mohamed Sultan Road. The 15-year leasehold plot attracted three bids. The highest was $17.19 million, or $172 per sq ft per plot ratio (psf ppr), from a boutique property developer and sports fashion retailer Link (THM) Holdings Pte Ltd. Yesterday's top bid was eye-catching on several...
Office / Retail Space
It has been roundly criticised for being user-unfriendly, but the owners and architects behind Orchard Central are unfazed by the brickbats. They say the design of the mall is 'ground-breaking' for Singapore and believe shoppers will grow to appreciate it in time. Orchard Central's shopping experience will also be further enhanced when an adjacent site is built and linked to the mall, they added. 'As...
A FLASHY new wing that jazzed up Northpoint Shopping Centre has also helped attract an additional 800,000 visitors a month through the mall's doors. The $38.6 million revamp has also enlarged the mall by over 50 per cent and brought the total space available for rent to 235,000 sq ft. The number of shops has shot up from 90 to 168. 'This has brought in a 10.7 per cent return on investment', said Dr Chew...
FRASERS Centrepoint Trust's (FCT) Northpoint mall has seen a 20 per cent hike in average rentals and a 70 per cent climb in shopper traffic after it was expanded and revamped. The mall, which is located right next to Yishun MRT station, increased its net lettable area by more than 50 per cent with the addition of a $165 million new wing and a $38.6 million asset enhancement initiative. The new NLA is...
Frasers Centrepoint Trust is optimistic about the outlook for suburban malls in Singapore. It's just completed a major revamp of the Northpoint shopping centre in Yishun. Costing almost S$40 million, the renovations are part of Frasers Centrepoint Trust's plans to rejuvenate all its malls. More shops targeting youths and family attractions are part of the new tenant mix at Northpoint. This includes 20...
About half a million square feet of office space in the core business district and fringe areas could become available when government bodies move out of Singapore's city centre by 2015. Experts said that with occupancy in the CBD bouncing back after the downturn, the space will be sorely needed. Government agencies such as the Ministry of National Development will be moving out of their premises in the...
Investment buzz in shopping centre scene; Alpha takes stake in Katong Mall THE shopping centre investment scene seems to be abuzz. At least one property is being put on the market officially. Sun Plaza, located between Sembawang MRT station and bus interchange, will be marketed through an expression of interest exercise. The asking price for the 11-year-old mall, owned by Heeton Holdings and Koh...
I REFER to Sunday's report, 'City Harvest paying $310m to become Suntec co-owner'. While it is City Harvest Church's right to decide how it spends its money, there are related issues which the Government should address. Religious organisations are registered charities. Therefore, contributions and income are non-taxable. However, with more and more religious organisations venturing into business and...
IT IS full steam ahead for Singapore's new growth areas such as Jurong and Paya Lebar as the Government ramps up plans to develop the Republic's alternative city centres. National Development Minister Mah Bow Tan yesterday said several government agencies, including the Ministry of National Development (MND) and some of its statutory boards, will relocate to Jurong Gateway by 2015. The development of new...
Over the Lunar New Year holidays, Singapore's first casino and Universal Studios theme park at Resorts World Sentosa garnered all the attention. But some are wondering if the focus on roulette tables and roller coaster rides will cause the mainland's central shopping belt along Orchard Road to lose its glitter. Singapore's first casino and Universal Studios theme park opened over the weekend creating a...