In view of office crunch, the 3-storey China Sq Food Ctr at Telok Ayer St is going for a $10m conversion to office block, and has obtained provisional permission for the conversion. The office is likely to be ready in 4Q08, with 11k sf of retail space and 38k sf of office space. Rental is expected to be ard $16 psf/mth.
China Sq Food Centre was bought at $17m in 1995 under the Govt's China Sq Concept Plan. It has a 30yr lease and the GFA is ard 58k sf.
* AsiaOne-Office *
Thursday, February 14, 2008
China Sq Food Centre Converting to Office
Labels:
Commercial,
Singapore,
Supply
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