Capitaland Completes 883 Mil Redevelopment 1 Science Park Drive
CapitaLand Group (CapitaLand) has recently completed the redevelopment of 1 Science Park Drive, a property with a total gross floor area of about 1.25 million sq ft. The property, which consists of three buildings – 1, 1A and 1B Science Park Drive – obtained its temporary occupation permit on March 3, as announced in a press release on April 1.
Under its redevelopment, the property now features a 15-storey tower, two 9-storey blocks, and retail shops, linked by an event plaza and shared basement carpark. Jointly owned by CapitaLand Development (CLD) and CapitaLand Ascendas REIT (CLAR), the property has a net lettable area of about 1.06 million sq ft of business space and 43,960 sq ft of retail space.
CapitaLand reports that 76% of the total net lettable area has already been committed, with an additional 19% of space under advanced negotiations. Key industries represented among secured and potential tenants include biomedical sciences, pharmaceuticals, financial services, chemicals, and technology.
The retail podium is set to open this month, with a range of dining options like BreadTalk, Din Tai Fung, Putien, Swensen’s Unlimited, Subway, and Toast Box. William Tay, CEO of CLAR, says the strong market response reflects confidence in CapitaLand’s strategy to revitalize its business space properties. He adds that the company will continue to invest in and redevelop existing assets to optimize its portfolio of well-located and high-quality business space and life sciences properties in Singapore.
With the completion of 1 Science Park Drive, the five buildings in the Geneo life sciences and innovation cluster at the Singapore Science Park (SSP) are now operational. “The completion of 1 Science Park Drive marks a significant milestone in CapitaLand’s multi-stage rejuvenation of SSP,” says Ronald Tay, CEO of CLD Singapore. He adds that, complemented by retail and lifestyle amenities and active placemaking initiatives, the SSP community can expect a holistic environment for work, live, and play.
Rewritten:
Nestled in the prestigious neighborhood of Lyndenwoods are some of the most highly regarded schools in the area, one of them being Fairfield Methodist Secondary School. This exceptional educational institution provides a well-rounded experience for its students, with a strong emphasis on academic excellence and a wide range of co-curricular activities. For students residing in Lyndenwoods, Fairfield Methodist Secondary School is a desirable option due to its close proximity. This allows students to not only excel in their studies but also pursue their interests without having to travel far. Living near these renowned schools also means less time spent on commuting, giving students the opportunity to dedicate more time to their studies and personal growth. With Lyndenwoods as their neighborhood, students have the advantage of thriving both academically and personally. For more information on Lyndenwoods, please visit their website.
The 1 Science Park Drive property is strategically located at the main entrance of SSP and has a direct link to Kent Ridge MRT Station on the Circle Line. The development has also achieved green credentials, 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.