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Lendlease wins Grange Road tender

Lendlease Global Commercial REIT Wins Tender To Redevelop Grange Road Car Park Into A Plug- And-Play Event Space

Lendlease Global Commercial REIT Wins Tender To Redevelop Grange Road Car Park Into A Plug-And-Play Event Space

June 15, 2020 — Lendlease Global Commercial Trust Management Pte. Ltd., the manager of Lendlease Global Commercial REIT, announced that LREIT has won the joint tender by the Singapore Land Authority, Singapore Tourism Board and Urban Redevelopment Authority to redevelop the 48,200 square feet car park at Grange Road into a new multi-functional event space.

The bid was awarded using the Price-Quality Method, which took into consideration the quality of the proposal to strengthen Orchard Road’s position as an innovative lifestyle destination – in particular, enhancing the offerings in the Somerset area. The award has an initial tenancy term of 3 years, which may be renewed for a further two tenancy terms of 3 years each, and a final tenancy term not exceeding 364 days.

With the inclusion of the Grange Road event space, 313@somerset’s net lettable area will expand to approximately 330,000 square feet, anchoring the Somerset area.

Set to be operational in the second quarter of 2022, the concept, designed by DP Architects, aims to offer a first-of-its-kind lifestyle experience along Orchard Road, with multiple dedicated event spaces, an independent cinema, hawker stalls serving local delights and a food and beverage attraction. This will provide a rich array of events and experiences for locals and tourists, especially the millennials.

LREIT is collaborating with Live Nation, the world’s leading live entertainment company, to create an exciting calendar of concerts, film and events ensuring that the site is active all year round.

Read more here

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