The Dempsey’s retail segment, associated with antiques and furniture, will remain, says Country City Investment, which is now the manager of Tanglin Village’s part including Dempsey Hill Green and Dempsey Hill.
“We will keep the furniture outlets as most of the tenants – about 65 per cent – are staying back,“ says marketing consultant Kee Luah of Country City Investment.
“We’ll have to find other retail tenants to replace those that have left, which we don’t think will be a problem as the single-digit rental rate is very attractive,” she adds.
The tenant mix for blocks 13 to 16, and 26 Dempsey Road, with 20,000 square metres plot, will be divided between 80 percent retail and 20 percent F&B. “We intend to keep the old world charm that people remember,” says Kee Luah.
Nicholas Ng, general manager of Country City, said the company is ready to spend $2 – $3 million to redevelop the blocks, of which it acquired the managing rights last year.
A group of seven buildings from Singapore Land Authority (SLA) is already being managed by Country City, which it redeveloped into 20 cafes, restaurants, bars, and delis assembled under the Dempsey Hill in 2007.
Significant improvements are made by SLA to the Tanglin Village within the past three years. It was organised into three groups – Minden, Loewen, and Dempsey.