CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
According to CapitaLand, around 76% of the total final lettable area has been dedicated, with one more 19% of room under advanced settlements.
The retail podium is slated to open this month, providing eating alternatives consisting of a food court and dining establishments like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
Jointly owned by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped property is composed of a 15-storey tower, 2 9-storey blocks and retail shops connected by an event plaza and a common basement carpark.
With the completion of the property, all five properties in the Geneo life sciences and innovation cluster at Singapore Science Park (SSP) are now operationally ready.
The property spans a total gross floor area of about 1.25 million sq ft. This includes a net lettable area of around 1.06 million sq ft of business place and 43,960 sq ft of retail space.
He adds: “Matched by retail and lifestyle features in addition to our active placemaking initiatives, the SSP community can anticipate a holistic environment for work, live, and play.”
Secured and potential business space renters originate from markets just like biomedical sciences, pharmaceutical, finance services, chemical and technology.
” The strong market reception shows confidence in our revitalisation strategy to future-proof our business place properties,” states William Tay, Chief Executive Officer of CLAR. “We will remain to buy and redevelop existing investments to optimise our portfolio of well-located and premium business space and life sciences assets in Singapore.”
CapitaLand Team (CapitaLand) has completed the S$ 883 million redevelopment of 1 Science Park Drive. According to an announcement dated April 1, the real property consists of 3 structures– 1, 1A and 1B Science Park Drive– and obtained its temporary slot license (TOP) on March 3.
” The completion of 1 Science Park Drive notes a substantial turning point in CapitaLand’s multi-stage rejuvenation of SSP,” claims Ronald Tay, CEO of CLD Singapore.
1 Science Park Drive inhabits a prime location at the main entry of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via a below ground walkway.
The development has also attained green qualifications integrating the Building and Construction Authority’s Green Mark Platinum score and International WELL Building Institute’s WELL Core Gold precertification for healthy building style.
