One Raffles Place to undergo asset enhancement from mid-2018
The six-storey retail component of One Raffles Place, which sits above the Raffles Place MRT station, will undergo asset enhancement works from mid-2018. The revitalised mall will have a new tenant – Amsterdam-based co-working space operator Spaces – whose flagship location at One Raffles Place will occupy more than 35,000 sq ft across a few levels from early 2019.
One Raffles Place is part of OUE Commercial REIT’s portfolio. According to the REIT, the upgrades will drive the per-square-foot productivity of the 100,000 sq ft mall, and the inclusion of a co-working space will enhance vertical traffic. The mall will remain operational during the asset enhancement period, as works would be carried out in phases to minimise disruption to tenants and shoppers, says the REIT.
One Raffles Place comprises two 62- and 38-storey Grade-A office towers, with total net lettable area (NLA) of 760,000 sq ft, and the six-storey One Raffles Place shopping centre.
(Credit: OUE Commercial REIT)
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