CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
Collectively operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped property is made up of a 15-storey high rise, 2 9-storey blocks and retail stores associated by an event plaza and a common basement carpark.
According to CapitaLand, approximately 76% of the overall net lettable space has been dedicated, with an additional 19% of space under advanced settlements.
He includes: “Matched by retail and lifestyle facilities along with our active placemaking efforts, the SSP area can anticipate a holistic environment for job, live, and play.”
CapitaLand Team (CapitaLand) has finished the S$ 883 million redevelopment of 1 Science Park Drive. According to a press release dated April 1, the real estate consists of three structures– 1, 1A and 1B Science Park Drive– and obtained its momentary occupation license (TOP) on March 3.
With the completion of the property, all five structures in the Geneo life sciences and development cluster at Singapore Science Park (SSP) are now operationally ready.
Bagnall Haus Upper East Coast Road
The retail podium is schedule to open this month, providing restaurant choices consisting of a food court and restaurants like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
The property spans an overall gross floor area of around 1.25 million sq ft. This contains a net lettable area of around 1.06 million sq ft of company space and 43,960 sq ft of retail space.
” The solid market reception reflects confidence in our rejuvenation strategy to future-proof our company location real estates,” says William Tay, CEO of CLAR. “We will certainly continue to buy and redevelop existing properties to optimise our portfolio of well-located and high quality business place and life sciences properties in Singapore.”
Guaranteed and prospective business spot renters originate from industries such as biomedical sciences, pharmaceutical, financial services, chemical and technology.
” The conclusion of 1 Science Park Drive notes a considerable landmark in CapitaLand’s multi-stage renewal of SSP,” says Ronald Tay, CEO of CLD Singapore.
1 Science Park Drive inhabits a prime place at the main entry of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via an underground walkway.
The development has actually also achieved environment-friendly qualifications including the Building and Construction Authority’s Green Mark Platinum standing and International WELL Building Institute’s WELL Core Gold precertification for healthy structure style.
