Far East Organization has announced that it plans to build a $100 million development comprising 338 small office-home office (SoHo) units and 121,000 sq ft of retail space at the Ten Mile Junction site.
In February, the developer paid $164 million or $437 psf ppr for the 99-year leasehold site located at the junction of Woodlands and Choa Chu Kang roads, which currently houses the Ten Mile Junction shopping mall.
The SoHo project will be called The Tennery and is set for launch in Q1 next year. More details about the project will be unveiled later this year, said Far East.
Meanwhile, the developer has begun marketing the retail space in the new mall called Junction 10. It will spend $28 million to retrofit the existing space to create a “rail lifestyle” concept.
“The railway history of the area dates as far back as the British colonial era. And with Junction 10’s history as a railway junction, it has inspired us to bring to life some aspects of the railway into the mall,” said Chng Kiong Huat, executive director for development & planning at Far East.
“We have decided to marry modern 21st century design elements with the nostalgia of railway travel at Junction 10. When completed in Q4 2011, shoppers and diners can expect a distinct railway chic flavour at this quaint mall.”
The mall’s décor will feature “rail components” like timber sleepers, rivets and runners. Rental rates will range between $12 psf and $22 psf.
Supermarket chain Giant has taken up over 30 percent of the space at the mall to establish a hypermarket.
Far East is now looking for other tenants including F&B outlets and retailers, as well as those offering services like beauty and wellness services and enrichment courses.