CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
Guaranteed and potential business space tenants come from sectors such as biomedical sciences, pharmaceutical, finance companies, chemical and modern technology.
” The completion of 1 Science Park Drive marks a considerable turning point in CapitaLand’s multi-stage restoration of SSP,” claims Ronald Tay, CEO of CLD Singapore.
Collectively owned by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped real estate is composed of a 15-storey high rise, 2 9-storey blocks and retail outlets associated by an activity plaza and a shared basement carpark.
The retail podium is schedule to open this month, supplying dining alternatives including a food court and restaurants like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
According to CapitaLand, around 76% of the total net lettable space has actually been dedicated, with another 19% of area under advanced settlements.
The property reaches an overall gross floor area of approximately 1.25 million sq ft. This consists of a net lettable location of around 1.06 million sq ft of business place and 43,960 sq ft of retail spot.
CapitaLand Group (CapitaLand) has recently finished the S$ 883 million redevelopment of 1 Science Park Drive. According to an announcement dated April 1, the real estate makes up 3 structures– 1, 1A and 1B Science Park Drive– and acquired its short-term slot permit (TOP) on March 3.
” The good market reception mirrors confidence in our revitalisation strategy to future-proof our business space properties,” states William Tay, CEO of CLAR. “We will continue to invest in and redevelop occurring assets to optimize our account of well-located and premium company place and life sciences assets in Singapore.”
He adds: “Enhanced by retail and lifestyle amenities along with our active placemaking initiatives, the SSP neighborhood can look forward to a holistic setting for job, live, and play.”
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 all set.
1 Science Park Drive occupies 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 actually also achieved 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 building design.
