The landlord of the former Katong Mall, which will reopen in Q3 2011, has unveiled three key tenants, which include Golden Village Multiplex, Market Place by Cold Storage and the BreadTalk Group.
Following a $60-million facelift, the tenants will occupy 32 percent of retail space at Katong Mall, said landlord Perennial Katong Retail Trust.
The six-storey mall will have a 207,000-sq-ft net lettable area, an increase of 20 percent in space from the existing site. The revamped mall will fetch a rent of $12 psf on average. More than 30 percent of the mall’s tenants are expected to be food and beverage outlets. The mall will also increase its parking space by more than 70 percent.
The mall was sold in November to Perennial Katong Retail Trust for $247.55 million.
Golden Cape Investments, a wholly-owned subsidiary of Tuan Sing Holdings, secured a 100 percent ownership of the mall through a successful bid amounting to $219 million in a collective sale in June 2008. Before that, Golden Cape already owned 72 percent of the total strata floor area of Katong Mall.