FUTURISTIC LOOKING: An artist's impression of the integrated complex, which will have eight levels of civic and cultural space, and four levels of retail and entertainment space. -- PHOTO: ROCK PRODUCTIONS
COME 2011, a futuristic-looking lifestyle hub with a 5,000-seat theatre, restaurants, shops, chill-out wine bars and even dance clubs will emerge in Buona Vista.
Property giant CapitaLand and a church-linked business company, Rock Productions, announced yesterday that they will jointly develop an integrated complex in Singapore’s one-north science hub at a cost of $660 million.
CapitaLand’s share of the proposed development, including the ownership of about 1,000 carpark lots, will be about $380 million.
Rock Productions - the business arm of the 16,000- strong New Creation Church - will invest $280 million.
The complex, which will be connected directly to the Buona Vista MRT station, will be sited within the 17ha Vista Xchange, the business service centre as well as lifestyle and cultural hub of one-north.
Designed by Mr Andrew Bromberg of Aedas Hong Kong, it will have eight levels of civic and cultural space, and four levels of retail and entertainment space.
The project came about after JTC Corporation last Friday awarded Rock Productions the tender to build, lease and operate an integrated civic, cultural, retail and entertainment hub at Vista Xchange on a 60-year lease at a land price of $189 million.
Rock Productions had spoken to a few partners and decided on CapitaLand, which entered into an agreement through its indirect wholly owned subsidiary One Trustee to acquire the hub’s retail and entertainment zone, which has a gross floor area of more than 24,000 sq m.
CapitaLand Retail will also manage the entire development of the integrated hub.
It is proposing an open concept for the retail and entertainment zone, which will be spread over two floors above the ground and two basement levels. The basement levels will house chic tenants that will include restaurants, cafes, thematic dance clubs, a concept food hall and a gourmet supermarket.
CapitaLand Retail chief executive officer Pua Seck Guan said the zone presents a unique opportunity for CapitaLand to extend its presence to the Buona Vista area.
The zone will cater to the affluent crowd from the nearby Bukit Timah, Holland and Rochester Park areas, as well as the visitor catchments from the one-north communities, surrounding estates and tertiary institutions, he said.
Rock Productions will own and manage the hub’s civic and cultural zone, which has a gross floor area of 30,000 sq m. This zone will have a 5,000-seat state-of-the-art theatre designed by world renowed performing arts facility design consultants Artec Consultants and Bromberg.
Among Artec’s best-known projects are the Lucerne Culture Centre in Switzerland and the concert hall and opera theatre at the Esplanade here.
Rock Productions has engaged IMG Artists, a global performing arts management company, to work on the marketing and programming efforts for the zone.
A major tenant has already been secured.
New Creation Church, which now holds its services at The Rock Auditorium at Suntec City, will be the anchor tenant of the theatre, using the space on a large part of Sundays and one mid-week night, said Rock Productions director Matthew Kang.
Rock Productions also owns and manages The Rock Auditorium and Marine Cove, the recreational and dining establishment at East Coast Park.
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