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Frasers Centrepoint Malls on Wednesday (18 March) announced that the group’s Orchard road shopping mall The Centrepoint will undergo a S$50 million asset enhancement initiative as part of the group’s efforts in aimed at refreshing the malls within the group’s portfolio.
In a press release, Frasers Centrepoint said the revitalization program will last for 16 months and will see “major renovation works” on the ground and basement levels. The mall will be revamped to a more open-concept, thematic zones focused on fashion, beauty, lifestyle, sports, dining and the home, and will have a new tenant mix.
The mall’s Orchard Road entrance will also be revamped to a wider street frontage and greater shop visibility.
According to Frasers Centrepoint Commercial CEO Christopher Tang, the plan to remake the mall was conceived last year which was marked by the introduction of Metro as its new anchor tenant.
The group also said that electronics retailer Harvey Norman will vacate its current spaces at the mall, joining Marks & Spencer which earlier this month announced closing its Centrepoint outlets. Taking the would-be vacated space is a “new gourmet precinct and an expanded fashion zone.”Also earlier, supermarket chain Coldstorage announced the closure of their outlet there.
“The new Centrepoint will offer more exciting retail, dining and lifestyle options for its patrons. The mall’s improved connectivity, expansion of offerings and distinct frontage will certainly create an integrated identity for The Centrepoint,” said Mr Tang.
The renovation works will start in May and according to Frasers Centrepoint, the mall will remain operational.
Image: Artist’s impression of the Centrepoint’s revamped Orchard Road entrance (Source: Frasers Centrepoint Limited)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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