A commercial redevelopment site at Thomson Village has been offered for sale by tender. Real estate services firm and sole marketing agent CB Richard Ellis (CBRE) said the site, located off Upper Thomson Road, has an approximate area of 13,387 square feet. It comprises eight strata-titled commercial units and a piece of vacant land, with an asking price of S$24 million. CBRE said: "Based upon a plot...
Singapore Retail
The S$4-billion Marina Bay Financial Centre mega project is on target despite the global downturn. In a year, phase one of the Marina Bay Link Mall under the Centre will be up and running, with tenants moving into the offices above. Raffles Quay Asset Management (RQAM), who has revealed plans to make the 176,000-square-foot mall a place to "Shop, Dine and Play", said the response rate has been...
Singapore's Paragon Market Place has won the "Best Retail Concept Award" conferred by the Federation of Asia-Pacific Retailers Association (FAPRA). It is the first Singapore brand to win the title at one of the retail industry's biggest events. This is not the only accolade Paragon Market Place has received. Since its S$3 million revamp in 2008, the grocer has won awards within the retail industry in...
Second Chance Properties has bought 22 prime units of retail space at Sim Lim Square for S$35 million, as valued by real estate consultancy Jones Lang LaSalle. The 22 units cover 9,604 square feet on the fifth floor of Sim Lim Square, which is located at Rochor Canal Road. Second Chance Properties said the units are fully tenanted to 27 retailers and the gross rental per annum stands at S$2.634 million,...
Prime retail rents on Orchard Road declined by 2.8 per cent to S$38.17 per square foot in the third quarter from the previous three months. That is smaller than the 3.7 per cent fall in the second quarter and the 4.4 per cent drop in the first, according to a report by Colliers International. Meanwhile, the average monthly retail rents in prime malls in the Tampines, Woodlands and Jurong areas posted an...
Orchard Central, one of Singapore's newest malls along Orchard Road, is having some issues with its tenants. Just four months after its opening, some tenants are complaining about slow traffic at the mall. Besides having Singapore's first indoor rock-climbing wall, the 12-storey mall has billed itself as a one-stop shopping destination for the modern individual, with its range of retail and F&B...
Luxury retailer Louis Vuitton will be opening a unique "island" store at the upcoming Sands Retail Asia at Marina Bay. The store will float on water in front of the Marina Bay Sands casino. Luxury French fashion house Chanel, renowned jeweller Tiffany & Co. and Singapore-based retail group F J Benjamin have also announced that they will have a presence at Singapore's new retail destination. Marina...
A new suburban shopping centre will rise in the west - this time it will be in Clementi. The retail hub is tentatively called "Clementi Mall", and it is part of a larger development located at the former Clementi Bus Interchange. The 99-year leasehold property has about 25,000 square metres of gross floor area. A tender for the sale of the property will close on November 10. Jone Lang LaSalle has been...
MORE than half of the 86 retail tenants at Shaw Centre have moved out since early this year as the mall appears to be a casualty of the supply glut of retail space downtown. Tenants that Today spoke to say an exodus of retailers has led to a significant drop in foot traffic for Shaw Centre. "It looks eerie in the evenings," said a shop assistant whose employer is among a dwindling number of businesses...
Fashion retailer FJ Benjamin said it will open three new outlets at the upcoming Marina Bay Sands integrated resort. It plans to bring US brand Guess, lingerie giant La Senza and the company's own fashion label Raoul to the new Marina Bay Sands Shoppes mall when it opens early next year. FJ Benjamin said it is also considering opening stores for several other brands within its portfolio of apparel...