Revamp for Shaw House, Shaw Centre?
Another landmark near Orchard Road may soon get a facelift: Channel NewsAsia understands that Shaw Organisation is considering a major redevelopment of Shaw House (picture) and its neighbouring Shaw Centre, with work to possibly start in the later half of next year.
According to sources, an official announcement is expected by August. The news comes even as some tenants have moved out in recent months following a spike in rentals from $6 to as much as $16 per square foot.
Plans are reportedly in the pipeline to expand Shaw Organisation’s Lido Cineplex, and to add more retail space. The corporation is understood to be in talks with architects. But it has not decided if the redevelopment plans should include its office and retail spaces in Shaw Centre.
Market watchers said it is likely the new site would include new residential spaces, but they do not expect the redevelopment works to have a big impact on retail space and shop rentals.
Said Knight Frank’s Mr Nicholas Mak: “In about 12 months, we’re going to see some new developments coming up on Orchard Road. So, if a major retail mall were to temporarily be taken offline, I think that vacuum could be filled by some of these new malls.”
Source : Today - 13 May 2008
Loading ...
Post a Comment
Tell me a bit about yourself; who you are, where you're from, what information you would like to see on this site. As I continue to provide you with Singapore property happenings, your feedback will encourage me to post more frequently. Thank you.