Centrepoint plans major S$50m facelift

After a series of high-profile tenant departures in recent weeks, Centrepoint will be undergoing a S$50 million revamp, mall owners Frasers Centrepoint Malls announced on Thursday.

Scheduled to commence in May, the “asset enhancement initiative” was first conceived in 2014 and is expected to stretch over 16 months.

Major renovation works have been tabled for the basement and ground floors of the iconic 32-year-old mall, along with an integration of the main building with the basement annexe.

Additionally, the mall’s Orchard Road entrance will see a major revamp with a widened street frontage allowing passers-by direct access to both floors, along with greater shop visibility for retailers.

Centrepoint’s family-friendly offerings on Level 3 will continue to be at the forefront of its redesign considerations, said the mall, with new drop-off and pick-up points on the ground floor as well as stroller and wheelchair-friendly features built in throughout all floors for families with children and the elderly.

Beyond physical upgrades, the mall will also plug in a lineup of activities, events and promotions to bring new buzz to the revamped building.

The announcement comes amid a succession of pullouts by long-time tenants. Anchor tenant Robinsons vacated its space in May last year after 31 years. Marks & Spencer will close its outlet on March 29 to focus on other stores islandwide, said its owners, the Dubai-based Al-Futtaim group, which also owns Robinsons.

Elsewhere in the mall, Chinese restaurant Teochew City Seafood Restaurant shuttered last year after a 25-year stay while Cold Storage is scheduled to close on April 1 and electronics retailer Harvey Norman will pull out of its Level 3 space by May.

Replacing Marks and Spencer on Level 2 and Harvey Norman on Level 3 will be a “gourmet precinct and an expanded fashion zone”, said the mall.

According to Christopher Tang, chief executive of Frasers Centrepoint Commercial, a division of Frasers Centrepoint Limited, the initiative is part of “an ongoing strategic initiative” aimed at refreshing the malls within the group’s portfolio.

The mall’s over 60 existing tenants such as Starbucks, Gap and Metro will continue operations as usual during the renovation, he added.

The mall’s Orchard Road entrance will see a major revamp with a widened street frontage allowing passers-by direct access to both floors, along with greater visibility for retailers.

http://business.asiaone.com/news/centrepoint-plans-major-s50m-facelift#sthash.NBwhq4gk.dpuf

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