CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
The retail podium is slated to open this month, providing eating choices consisting of a food court and restaurants like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
Secured and potential business spot lessees come from markets such as biomedical sciences, pharmaceutical, finance companies, chemical and modern technology.
” The conclusion of 1 Science Park Drive marks a significant landmark in CapitaLand’s multi-stage renewal of SSP,” claims Ronald Tay, Chief Executive Officer of CLD Singapore.
CapitaLand Group (CapitaLand) has already completed the S$ 883 million redevelopment of 1 Science Park Drive. According to a press release dated April 1, the real estate consists of 3 structures– 1, 1A and 1B Science Park Drive– and obtained its short-term occupation license (TOP) on March 3.
According to CapitaLand, about 76% of the total net lettable space has actually been dedicated, with another 19% of room under advanced arrangements.
The property reaches a full gross floor area of around 1.25 million sq ft. This includes a net lettable area of about 1.06 million sq ft of company place and 43,960 sq ft of retail area.
Jointly owned by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped property is comprised of a 15-storey tower, two 9-storey blocks and retail stores connected by an event plaza and a shared basement carpark.
With the finish of the property, all five properties in the Geneo life sciences and development cluster at Singapore Science Park (SSP) are now operationally available.
He includes: “Matched by retail and lifestyle services in addition to our active placemaking efforts, the SSP neighborhood can anticipate a holistic environment for work, live, and play.”
” The good market reception shows assurance in our revitalisation method to future-proof our service place properties,” claims William Tay, CEO of CLAR. “We will remain to buy and redevelop existing investments to optimise our portfolio of well-located and high-quality service space and life sciences properties in Singapore.”
1 Science Park Drive inhabits a prime location at the primary entryway of SSP. The property is linked to Kent Ridge MRT Station on the Circle Line via an underground walkway.
The development has also attained eco-friendly credentials containing the Building and Construction Authority’s Green Mark Platinum score and International WELL Building Institute’s WELL Core Gold precertification for healthy structure design.
