Perennial Chinatown Point acquires retail mall, 4 office units for S$250m

A consortium called Perennial Chinatown Point has acquired the Chinatown Point retail mall and four office units for S$250 million from developer City Developments.

Chinatown Point is a mixed-development comprising 283 strata-titled retail units and a 25-storey office block.

It is located at the junction of New Bridge Road and Upper Cross Street and next to the Chinatown MRT station which currently serves the North-East Line.

The 99-year leasehold mall has six levels of retail units and has an aggregate strata area of 178,187 square feet.

The transaction was entered into by five wholly-owned subsidiaries of Perennial Chinatown Point and five wholly-owned subsidiaries of CDL.

It is expected to be completed by October this year.

Perennial said the revamped mall will feature a wide variety of offerings such as traditional Chinese specialty food and foodstuffs, goldsmith jewellers and travel agencies.

NTUC FairPrice is also expected to be a supermarket anchor tenant at the new Chinatown Point retail mall.

Source : Channel NewsAsia – 13 Jul 2010

Join The Discussion

Compare listings