Waterway Pt gets anchor tenants

Waterway Pt gets anchor tenants

Watertown, Punggol's first integrated waterfront residential and retail development, has secured two anchor tenants for its shopping mall: NTUC FairPrice Finest and Shaw Organisation.
The supermarket will take up some 30,000 square feet in the basement of the mall, Waterway Point, and be open round the clock.

It is the 10th FairPrice Finest outlet here, and the chain's second 24-hour Finest branch, after the one in Serangoon Gardens.

Shaw Organisation's theatres, including a 1,000-seating-capacity Imax hall, will take up 32,500 sq ft of retail space.

In the rest of Waterway Point, the tenant mix will be 40 per cent retail, 30 per cent food and beverage, with the remaining space given over to entertainment and other service providers such as educational institutions, banks and community amenities.

The four-level mall, which has about 370,000 sq ft of net lettable area, will be linked to Punggol MRT Station and is part of Watertown, a project of Far East Organisation, Frasers Centrepoint and Japanese firm Sekisui House.

The residential part of this complex comprises 11 residential towers of 13 and 14 storeys.
Almost 97 per cent of the 992 units have been sold to date.

Another 34 units, mainly three- and four-bedroom units overlooking Punggol Waterway, are still available. These, with their superior facing, have been priced from $1.68 million for a 1,195 sq ft three-bedroom apartment.

The available units range in size from 1,173 to 1,550 sq ft.

The developer is giving away FairPrice Finest vouchers ranging from $8,000 to $10,000 to each new buyer.
Hyundai Engineering & Construction Co Ltd was awarded the main construction contract worth US$380 million for the Watertown development in August.

Building of the retail component has just begun and is to be completed by 2015; the development of the residential component is expected to be done only in 2017.

Separately, only 21 units at Far East's 528-unit The Hillier are left on the market.

Configurations of the still- available units in this Hillview Avenue development comprise Type A (506-624 sq ft), Type B (592-678 sq ft) and Type C (807-840 sq ft).

Prices start at $875,000 for a 506 sq ft unit.

The fully dedicated Soho (small office, home office) development comprises two towers of Soho apartments with an adjoining retail podium, HillV2.

It is estimated to TOP in 2016.

Source: Business Times – 6 October 2012