Singapore mall Orchard Hotel Shopping Arcade will undergo a $25 million redevelopment exercise, emerging with new tenants, a new tagline and logo, and a new name.
To be called Claymore Link, the rebranded mall will be repositioned as a family-friendly mall with supermarket retailer Cold Storage The Fresh Food People serving as an anchor tenant, said mall owner CDL Hospitality Trusts on Wednesday.
The redevelopment is expected to take about 12 months and will increase the mall's net lettable area by about 10,000 sq ft.
It will also draw more than $2 million more in rental income per year, which translates into an estimated gross return on investment of more than 8 per cent, CDL Hospitality Trusts said.
The mall's tagline will be "more for everyone", capturing CDL Hospitality Trusts' aim to create a retail experience that caters to "the growing captive residential population" along Orchard Road, it added.
The tenant mix "is expected to comprise more outlets that better cater to the spectrum of demands of families, which will differentiate Claymore Link from other high-fashion malls at Orchard Road".
Claymore Link is scheduled to have a soft opening by the end of the year.