Singapore's Orchard Road will be adding another new face to its shopping belt. A retail, hotel and office development will soon come up at the sites of the former Specialists' Centre and Hotel Phoenix, as well as Orchard Emerald mall. The project, costing some S$700 million, is expected to be completed in the second half of 2013. A groundbreaking ceremony on Friday marked the start of the redevelopment...
Retail Space
Business owners at the recently re-opened Customs House said their business has gone up by as much 80 per cent since it opened in May. Part of the Fullerton Heritage precinct, the former home of the Singapore Customs Police is now a trendy dining and entertainment destination. Customs House was one of the earliest of Singapore's public buildings to be built in a modern style to blend with the city's...
Fourteen strata shop units on the second storey of Holland Road Shopping Centre have been put up for sale. The four-storey block shopping centre is located at 211 Holland Avenue. The units have separate titles but are to be sold jointly. They occupy a total gross floor area of 5,543 square feet. All the units are currently tenanted and the tenancy will expire in 2013. Property consultant Colliers...
A NEW Peranakan-themed mall will soon take the place of the former Katong Mall and mark the debut mall for Pua Seck Guan's Perennial Real Estate in Singapore. Mr Pua is CEO of Perennial Real Estate and formerly CEO of Capitaland Retail. The mall, located at the junction of East Coast Road and Joo Chiat Road, will have a net lettable area (NLA) of 207,000 sq ft, 20 per cent larger than before. It has...
The landlord of the former Katong Mall, due to re-open in the third quarter next year, unveiled key tenants like Golden Village Multiplex, Market Place by Cold Storage and the BreadTalk Group on Friday. After a $60-million facelift, landlord Perennial Katong Retail Trust said the tenants will take up 32 per cent of retail space at Katong Mall. The revamped mall will have a net lettable area of about...
The former Katong Mall, due to re-open in the third quarter next year, is heading up market. Its landlord unveiled key tenants like Golden Village Multiplex, Market Place by Cold Storage and the BreadTalk Group on Friday. After a S$60 million facelift, its landlord Perennial Katong Retail Trust says visitors can find gourmet products and high end brands here, watch a movie in a private lounge complete...
Singapore's latest underground retail space - Esplanade Xchange - was officially opened on Thursday. It is sited above the Esplanade MRT Station, and is the first Xchange along the new, partially-opened Circle Line. The Esplanade Xchange is also a short walk away from Marina Square and Suntec City. Fourteen of the 26 tenants at the Xchange operate F&B outlets. That's the highest proportion of...
Orchard Road is about to see more retail competition. A new concept store ALT is aiming to target young female shoppers who love fashion from the current staple of malls on the prime shopping strip. ALT will be spread over three levels at the Heeren shopping mall on Orchard Road. It is hoping to attract shoppers with its slate of Asian brands. Its merchandise mix includes fashion, beauty and lifestyle...
Rents at suburban malls in Singapore are fast catching up with those for prime Orchard Road retail space as neighbourhood malls draw increasing shopper numbers and more interest from tenants. The difference between prime Orchard Road rents and suburban rents narrowed to just 9 per cent in Q2 2010 - from as much as 24 per cent at the start of 2009 and 21 per cent in Q1 2005 - according to CB Richard Ellis...
Rental values for retail space across Singapore ended on a mixed note in the second quarter of this year. That's according to estimates by property consultancy DTZ Research. The report found that retail rents at Orchard and Scotts Road stood unchanged for the second consecutive quarter, as the performance of retailers was mixed in light of new supply that came on-stream since last year. Gross rents of...