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Colliers International has been appointed as the leasing and tenancy manager for two new retail properties in Singapore – Stars of Kovan at Upper Serangoon Road (pictured) and *SCAPE in Orchard Link.
The appointment will see Colliers providing “leasing and tenancy management including marketing and retail advisory services for the two properties, with the aim of managing the leasing strategy, curating their respective tenant-mix profiles, driving footfall and elevating customer experience, as well as injecting vibrancy to the commercial spaces”.
Set to obtain TOP by Q2 2019, Stars of Kovan comprises 395 residential units and 46 retail shops that range in size from 26 sq m to 80 sq m. Most of the commercial spaces, which will be spread across a 2,500 sq m podium, will be dedicated to retail as well as takeaway-food shops.
Stars of Kovan developer, Property Enterprises Development (Singapore) (PED), believes that Colliers will be a big help in attaining the best tenant mix for the strata-titled mall.
“PED’s approach to managing strata retail malls for individual buyers is a good and welcomed move amid the evolving retail landscape. Colliers looks forward to playing a key role in helping to spur the success of the Stars of Kovan mall through various advertising and promotion efforts aimed at raising the mall’s profile and to drive footfall,” said Andy Oon, Colliers International’s director for real estate management services.
Meanwhile, non-profit organisation *SCAPE Co. Ltd has appointed Colliers to help them transform *SCAPE into a youth-hub destination.
Located within the Orchard Road shopping district near Somerset MRT station, *SCAPE has a total net lettable retail area of 4,260 sq m.
Colliers envisions *SCAPE “to be a hip and exciting venue with a wide range of attractive experiential offerings” such as music, sports, dance, F&B and gaming.
“Youth culture and needs have evolved dramatically over the past decade. The highly tech-savvy millennial consumers today are hungry for new experiences; they embrace digital connectivity, value authenticity, and appreciate well-designed communal spaces,” noted Oon.
“Retailers and landlords will have to similarly evolve and update their strategy to appeal to this group of customers.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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