RETAIL rents across most of Singapore held steady in the first quarter of this year, a new report showed. This ended five straight quarters of decline in some areas, as tourist arrivals grew and consumer confidence rose, according to the report by DTZ Research. In the premier shopping belt of Orchard Road/Scotts Road, retail rents remained constant as the market absorbed new supply that came onstream in...
Singapore Retail
Singapore retail rents have held firm in the first quarter of this year. According to estimates by DTZ Research, rental values of retail space in the prime retail belt of Orchard and Scotts Road, other city areas and even suburban areas remained unchanged. DTZ said gross retail rents at the Orchard and Scotts Road area stayed firm as the market absorbed the new supply that came onstream in 2009 and in...
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...
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...
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...
An upcoming mall in Serangoon Central, called nex, has leased out about 90 per cent of its space some nine months ahead of its official opening in November. The mall's developer, Gold Ridge, said it has signed on the Serangoon Public Library as the newest anchor tenant at the complex. The new public library will occupy about 17,000 square feet of space and is scheduled to open to the public in March...
Serangoon residents will have a new public library in March next year. The National Library Board (NLB) announced on Wednesday that the new Serangoon Public Library will be located at "nex". "nex" is a mega eco-friendly mall linked to the new 16-bay Serangoon Bus Interchange and the stations of the new Circle line and existing North East line. The Serangoon Public Library will cater to some 122,000...