Results 1 to 2 of 2

Thread: Plans for mall, condo on Seletar site

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Plans for mall, condo on Seletar site

    http://www.businesstimes.com.sg/sub/...91018,00.html?

    Published June 18, 2010

    Plans for mall, condo on Seletar site

    Far East secures Cold Storage, Kopitiam as tenants

    By KALPANA RASHIWALA


    FAR East Oganization is building what it hopes will be a chic, two-storey mall on a Seletar site it bought in a state tender last year. Behind the mall will be a 319-unit, low-rise condo, The Greenwich, which could be launched for sale within two months.


    Chic project: The 5-storey Greenwich condo - behind the mall named Greenwich V - will have 319 units with floor areas of 602-1,227 sq ft. About half of the mall 's 45,000 sq ft will be leased to food & beverage outlets

    The developer will hold the mall, named Greenwich V, as an investment property for rental income. It hopes to open the mall, which will have 35 retail units, by the end of next year. Tenants secured so far include Cold Storage, which will operate a supermarket of about 10,000 sq ft, 7-Eleven, Guardian and food court operator Kopitiam, which will occupy 6,354 sq ft.

    Monthly asking rents for the remaining units are generally between $13 psf and $20 psf, according to Far East.

    About half of the mall's 45,000 sq ft net lettable area will be leased to food and beverage outlets such as cafes and restaurants. Other tenants are likely to include hair salons, wine shops and providers of educational and medical services.

    Located at the corner of Yio Chu Kang and Seletar roads, Greenwich V aims to serve not only residents in the established Seletar Hills Estate and surrounding area but the working population at the industrial estates in Yio Chu Kang and Ang Mo Kio, as well as the upcoming Seletar Aerospace Park. 'The immediate area around Greenwich V has a sizeable population who we believe are a little under- served at the moment, in terms of shopping and entertainment options,' said Far East's chief operating officer, retail business group, Kelvin Ling.

    Greenwich V will blend in with the verdant surroundings. It will feature a piazza or central square, with alfresco dining and play areas.

    The entire development - mall and condo - has been designed by ADDP Architects. The five-storey condo will have one, two and three-bedroom apartments ranging from 602 to 1,227 sq ft.'

    Far East is developing the project on a site it clinched in an Urban Redevelopment Authority tender that closed in September last year.

    Its winning bid of $119.08 million reflected a unit land cost of $376 per sq ft of potential gross floor area.

    The property giant's top bid was 35 per cent above the second highest offer, from a unit of Centurion Properties. The tender drew 12 bidders in all.

  2. #2
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default

    http://www.straitstimes.com/PrimeNew...ry_542032.html

    Jun 18, 2010

    Seletar Hills market to become trendy 'village'

    Far East plans mall on market site modelled after Holland Village

    By Francis Chan


    Greenwich V, which will be built on the site of the demolished Seletar Hills market, will have all the modern conveniences as well as alfresco dining, play areas and open space for public events and weekend markets. -- PHOTO: FAR EAST ORGANIZATION

    A NEW retail project unveiled yesterday promises to add some buzz to the quiet Seletar Hills estate, where its old Housing Board wet market used to be.

    Far East Organization plans to build a 45,000 sq ft two-storey mall with all modern conveniences on the site of the former market at the corner of Seletar and Yio Chu Kang roads.

    Called Greenwich V, it will have a Cold Storage supermarket, pharmacy, 24-hour convenience store and foodcourt, and a slew of other lifestyle and essential services. It will also have alfresco dining and play areas, and open space for community events and weekend markets.

    What was once just four blocks of HDB flats, a wet market and a hawker centre will be transformed into a modern and trendy 'village' that could open by the end of next year.

    When the old market was demolished more than five years ago for redevelopment, residents of the estate lost the only amenities they had in the vicinity.

    Mr Chng Kiong Huat, Far East executive director for development and planning, told The Straits Times that Greenwich V will be big on food and beverage offerings.

    'We look at this as a very heavy F&B location. We have even designed one of the buildings to become like a jewel box of sorts, a focal point where we have a major dining area right in the centre of the mall,' he said.

    Other features include wide outdoor walkways between shops, thick tree canopies and a spacious central square.

    The mall will house 35 retail units ranging from 185 sq ft to 10,000 sq ft. Rental prices will range between $13 and $20 per sq ft, said Far East.

    The Greenwich, an adjacent five-storey 319-unit residential project also being developed by the company, will offer units from 602 sq ft to 1,227 sq ft.

    Although prices are yet to be determined, sales of the residential units are expected to start within the next two months, said a Far East spokesman.

    Far East lodged a bid of $119 million for the site last September. At the time, it took the industry by surprise as it was 35 per cent higher than the second bid.

    Mr Chng said Far East made the move because it saw value in the land, which had been released by the Government amid much uncertainty due to the downturn. He added that his job was to create a product that could 'connect with the people around the estate'.

    'If you will, Holland Village is our reference in Singapore of what it will become; if you like Holland Village, you will like this,' said Mr Chng.

    Greenwich V can potentially serve more than 500,000 residents in Seletar and nearby Yio Chu Kang, Sengkang, Serangoon and Hougang.

    Seletar residents, who were shown visuals of the mall yesterday, welcomed the new development.

    'It's been a while since we had our own 'village' of sorts in Seletar. It will be nice to not have to travel so far out to shop and eat,' said Mrs Wendy Tham, a resident of 22 years.

    But there were concerns about increased traffic when the mall opens.

    'Yes, it is good to have a mall here, but I hope it will not be too popular, or else the traffic will be heavy and I will have trouble getting home,' said a resident from nearby Gerald Crescent.

    [email protected]

Similar Threads

  1. Kuok Group plans mall and 480 apartments on Pasir Ris site
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-03-19, 20:22
  2. Raffles Medical plans new mall on Holland Village site
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 23-12-13, 15:11
  3. Seletar Mall to be completed end-2014
    By carbuncle in forum Far North
    Replies: 15
    -: 24-08-12, 18:06

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •