CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
The property spans an overall gross floor area of about 1.25 million sq ft. This contains a net lettable location of around 1.06 million sq ft of business place and 43,960 sq ft of retail area.
Guaranteed and potential business spot lessees come from markets such as biomedical sciences, pharmaceutical, financial services, chemical and technology.
The retail podium is schedule to open this month, offering restaurant choices consisting of a food court and dining establishments like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
With the completion of the property, all five buildings in the Geneo life sciences and development cluster at Singapore Science Park (SSP) are now operationally ready.
” The conclusion of 1 Science Park Drive denotes a substantial landmark in CapitaLand’s multi-stage restoration of SSP,” states Ronald Tay, CEO of CLD Singapore.
Jointly operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped real estate is composed of a 15-storey tower, 2 9-storey blocks and retail outlets connected by an event plaza and a shared basement carpark.
CapitaLand Group (CapitaLand) has already completed the S$ 883 million redevelopment of 1 Science Park Drive. According to a news release dated April 1, the real estate consists of three buildings– 1, 1A and 1B Science Park Drive– and acquired its short-term slot authorization (TOP) on March 3.
According to CapitaLand, approximately 76% of the total final lettable location has been committed, with another 19% of area under advanced negotiations.
He adds: “Enhanced by retail and lifestyle amenities along with our active placemaking efforts, the SSP area can expect a holistic atmosphere for work, live, and play.”
” The good market reception shows assurance in our rejuvenation method to future-proof our company place properties,” states William Tay, CEO of CLAR. “We will certainly continue to invest in and redevelop occurring properties to optimise our account of well-located and high-quality organization space and life sciences properties in Singapore.”
1 Science Park Drive inhabits a prime place at the primary entryway of SSP. The property is connected to Kent Ridge MRT Station on the Circle Line via an underground walkway.
The development has actually also attained environment-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.
