SINGAPORE - CapitaLand on Thursday (July 13) gave a first look at the landmark 51-storey office tower to be built on the site of the old Golden Shoe Car Park building at the heart of Singapore's Central Business District.
At 51 storeys high, the new integrated development will rise to a height of 280m, on a par with the tallest buildings in Raffles Place. It is scheduled for completion in the first half of 2021.
The tower will feature 29 floors of premium Grade-A office space on the top floors, spanning 635,000 sq ft of net lettable area; an eight-storey, 299-unit serviced residence to be managed by The Ascott; five floors of carpark with about 350 spaces, 10 motorcycle spaces, 165 bicycle parking spaces and 12,000 sq ft of ancillary retail space.
The cost of the whole redevelopment - S$1.82 billion.
This will be shared by the partners in the joint venture set up for the project. CapitaLand and CapitaLand Commercial Trust (CCT) will each hold a 45 per cent stake, while Mitsubishi Estate Co (MEC) will have the remaining 10 per cent interest in two unlisted special purpose sub-trusts, namely Glory Office Trust and Glory SR Trust, set up to own the office and serviced residence components of the development respectively.
For many hungry Raffles Place workers, the Golden Shoe Car Park building, built in 1984, was best known as home to a favourite lunchtime hawker centre.
They will be happy to learn that the new tower will house former stallholders of Market Street Food Centre in a government food centre on the second and third levels of the building's podium.
From Aug 1 until the new tower's completion, these stallholders will operate from an interim food centre located next to Telok Ayer MRT station on Cross Street.
The new tower will also boast a Green Oasis with a height of approximately 30m, comprising four contiguous and connected floors of open-air, landscaped and technology-enabled areas where tenants can use the shared spaces for conversations, meetings, wellness programmes and other activities.