Department store John Little will close its last remaining outlet at Plaza Singapura by the end of December this year, the Robinsons Group announced in a statement on Saturday (Nov 5). The decision was made after evaluating the relevancy and sustainability of its brick-and-mortar business, said the Robinsons Group, adding that John Little will instead evolve as a brand into a pop-up format, which it...
Singapore Retail
SHOPPING-MALL owner Frasers Centrepoint Trust (FCT) has inked deals to buy all 10 strata-titled retail units at the Yishun 10 cinema complex from Bonvests Holdings for S$37.75 million, the trust said in a Singapore Exchange (SGX) filing on Friday evening. The trust manager's chief executive officer, Chew Tuan Chiong, said in a statement Yishun 10 was next to FCT's Northpoint shopping centre and...
A PRIME commercial-zoned piece of vacant land - where the former Queenstown cinema and bowling centre once stood - has been sold for S$78 million. The price for the site, which has a balance lease term of 57 years, is understood to work out to about S$756 per square foot of potential gross floor area. Located a stone's throw from Queenstown MRT Station, the site is at the corner of Commonwealth Avenue...
GUOCOLAND, controlled by Malaysian tycoon Quek Leng Chan, recently completed Guoco Tower - the office component of its integrated mixed-development project, Tanjong Pagar Centre, on a 99-year leasehold site above Tanjong Pagar MRT Station. The mainboard-listed property group has announced that 80 per cent of the 890,000 sq ft net lettable area of office space has been committed, that is either leased or...
DATA released by the Urban Redevelopment Authority (URA) shows that its retail property rental index fell 1.5 per cent in the third quarter of this year over the preceding quarter - a smaller decline compared with the 3.9 per cent quarter-on-quarter drop in Q2 2016. URA's retail property price index eased 0.6 per cent q-o-q in Q3 2016, after sliding 3.1 per cent in Q2 2016. The islandwide vacancy...
ONE has to concede that Orchard Road is not the shopping belt it once was during its halcyon days. No longer do you see throngs lining the 2.2-kilometre boulevard, not even on weekends. Once regarded as the shopping and entertainment destination for Singaporeans and tourists alike, are Orchard Road's glory days dwindling? To better understand the wane of such a key shopping destination, it is worth...
The phrase “living the high life” will be actualized with the completion of the brand new mixed development – Stars of Kovan. Bagging the last piece of vacant land on Upper Serangoon Road, this property is poised to attract many a buyers on account of its exclusivity alone, if nothing else. The ideal location of being in the heart of Kovan, however, is not the only reason that Stars of Kovan has...
The upcoming Funan integrated development will include a Golden Village cinema, indoor climbing gym as well as a click-and-collect shopping experience, announced developers CapitaLand at the site's groundbreaking on Wednesday (Sep 7). The redeveloped Funan DigitaLife Mall, which is expected to be completed in 2019, will retain its digital roots by selling IT products. Additionally, the mall will...
The court fight between Takashimaya and its landlord Ngee Ann Development (NAD) over calculation of rent has concluded in favour of the department store. The High Court, in a written judgment on Wednesday (Sept 14), agreed with Takashimaya's contention that rental rate for the next five years should be valued based on the existing space configuration. NAD had sued Takashimaya last year after both...
THE new Funan mall, when ready in the fourth quarter of 2019, will be a platform that "inspires retail innovation" and offers a "new paradigm" for living, work and play, said CapitaLand Mall Trust. The developer will unveil at the groundbreaking ceremony on Wednesday that the new mall will simply be called "Funan" - it was originally Funan DigitaLife Mall - as a tribute to the site's legacy and an...