20th March, Wednesday
Commercial
Orchard Rd set to welcome new mall Source: Channelnewsasia Singapore's prime shopping belt Orchard Road is set to welcome a new mall, Orchard Gateway, around November this year. Its marketing agent said 80 per cent of the retail space has already been pre-committed. And there will be a few new-to-market brands that will appeal to fashion-forward shoppers. They include American chain Crate & Barrel, which will open its five-storey flagship store there, spanning over 20,000 square feet. There is also multi-label fashion company I.T Hong Kong and Swatch - which will open its third mega store in Asia at Orchard Gateway. Some of the other brand names will include J.Lindeberg, which is a fashion brand from Sweden. They will be introducing their ladies range for the first time in Singapore. There is also US shoe brand Red Wings shoes - they will be opening their first concept store in Singapore. Also coming in to Orchard Gateway is Nike - they are introducing a new concept called Amplify women. The entire fourth floor is just for men, so it's...very much skewed towards men's fashion. There is also UK brand Religion, which has never been to Singapore. To cater to younger shoppers, Savills said the mall also has up-and-coming fashion blogshops. The mixed-development straddles both sides of Orchard Road and has 172,000 sq ft of net lettable retail space. Aside from the retail offerings, Orchard Gateway also has 37,000 sq ft of office space and a 500-room hotel.
Link to the story: http://www.channelnewsasia.com/stories/singaporebusinessnews/print/1261080/1/.html
Investment Sales
Industrial building on Enterprise Rd up for sale Source: Business Times An industrial building at 19 Enterprise Road in Jurong has been put up for sale. The single-storey factory, previously owned by Eng Lee, comprises warehouses, offices, and production areas. It has a built-up area of approximately 62,500 sq ft, and sits on a 109,164 sq ft plot. The site is leasehold, with 25 years remaining in its term. The site is classified as a Business 2 zone under land use guidelines of the Urban Redevelopment Authority, with a plot ratio of 2.5. The indicative price is $18.5 million. The tender for the property closes on 30 April at 3pm.
Link to the story: http://www.businesstimes.com.sg/print/502381 http://www.channelnewsasia.com/stories/singaporebusinessnews/print/1261049/1/.html
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