CapitaLand completes $883 mil redevelopment of 1 Science Park Drive
The property extends a total gross floor area of about 1.25 million sq ft. This consists of a net lettable area of about 1.06 million sq ft of business space and 43,960 sq ft of retail space.
With the finish of the property, all five properties in the Geneo life sciences and innovation cluster at Singapore Science Park (SSP) are now operationally ready.
The retail podium is slated to open this month, providing eating alternatives consisting of a food court and restaurants like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box.
Guaranteed and prospective enterprise spot lessees come from sectors such as biomedical sciences, pharmaceutical, finance services, chemical and modern technology.
CapitaLand Group (CapitaLand) has recently completed the S$ 883 million redevelopment of 1 Science Park Drive. According to an announcement dated April 1, the property comprises 3 buildings– 1, 1A and 1B Science Park Drive– and got its momentary occupation permit (TOP) on March 3.
Jointly operated by CapitaLand Development (CLD; 66%) and CapitaLand Ascendas REIT (CLAR; 34%), the redeveloped real estate is comprised of a 15-storey tower, two 9-storey blocks and retail stores connected by an activity plaza and a common basement carpark.
” The conclusion of 1 Science Park Drive denotes a considerable landmark in CapitaLand’s multi-stage renewal of SSP,” says Ronald Tay, Chief Executive Officer of CLD Singapore.
He includes: “Matched by retail and lifestyle features as well as our active placemaking efforts, the SSP area can expect a holistic environment for job, live, and play.”
” The strong market reception mirrors confidence in our revitalisation technique to future-proof our service location real estates,” states William Tay, CEO of CLAR. “We will certainly remain to invest in and redevelop existing assets to optimize our profile of well-located and premium company space and life sciences real properties in Singapore.”
According to CapitaLand, around 76% of the overall final lettable area has actually been committed, with another 19% of area under advanced settlements.
1 Science Park Drive occupies a prime location at the primary entrance 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 environment-friendly qualifications including the Building and Construction Authority’s Green Mark Platinum rating and International WELL Building Institute’s WELL Core Gold precertification for healthy building design.
