CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
Collectively operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped real estate is comprised of a 15-storey tower, two 9-storey blocks and retail stores associated by an event plaza and a common basement carpark.
Guaranteed and possible enterprise space lessees come from markets such as biomedical sciences, pharmaceutical, financial services, chemical and innovation.
He adds: “Matched by retail and lifestyle facilities in addition to our active placemaking initiatives, the SSP community can expect a holistic environment for job, live, and play.”
The property spans a full gross floor area of approximately 1.25 million sq ft. This consists of a net lettable space of about 1.06 million sq ft of business space and 43,960 sq ft of retail space.
According to CapitaLand, roughly 76% of the complete final lettable space has been committed, with another 19% of space under advanced negotiations.
Altura EC Bukit Batok West Avenue 8
The retail podium is slated to open this month, providing restaurant alternatives including a food court and dining establishments like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
” The completion of 1 Science Park Drive notes a substantial landmark in CapitaLand’s multi-stage rejuvenation of SSP,” claims Ronald Tay, Chief Executive Officer of CLD Singapore.
” The solid market reception reflects trust in our revitalisation method to future-proof our service location properties,” says William Tay, CEO of CLAR. “We will certainly continue to invest in and redevelop existing properties to optimise our portfolio of well-located and high-quality organization area and life sciences assets in Singapore.”
With the finish of the property, all five properties in the Geneo life sciences and innovation cluster at Singapore Science Park (SSP) are now operationally all set.
CapitaLand Group (CapitaLand) has recently finalized the S$ 883 million redevelopment of 1 Science Park Drive. According to a news release dated April 1, the real property consists of three establishments– 1, 1A and 1B Science Park Drive– and acquired its temporary occupation license (TOP) on March 3.
1 Science Park Drive inhabits a prime place at the primary entry of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via a below ground walkway.
The development has actually also attained eco-friendly qualifications containing the Building and Construction Authority’s Green Mark Platinum rating and International WELL Building Institute’s WELL Core Gold precertification for healthy structure design.
