50% Of Retail Space Leased At Fusionopolis

Source : The Business Times, September 9, 2008

Cold Storage and Fitness First are two of the largest tenants

AS the first phase of Fusionopolis approaches its official opening next month, more than 50 per cent of retail space in the development has been taken up.

The upcoming research and development (R&D) hotspot, comprising two towers and a podium in phase one, has around 183,000 sq ft of retail space. With seven tenants already secured, some 86,100 sq ft are left.

Upcoming hotspot: Rents for the retail space range from $4.50 to $12 per sq ft, depending on the usage

Cold Storage and Fitness First are two of the largest tenants. Fitness First @ Fusionopolis, with a rooftop swimming pool, will occupy 30,000 sq ft. According to JTC Corporation, the fitness club's members have been able to use the facilities starting yesterday.

Starbucks Coffee, Harry's Bistro & Bar, food and beverage (F&B) outlet Black Canyon, Raffles Medical Group and Frames & Lenses (Optical) will also be moving into the first phase of Fusionopolis.

Rents for the retail space range from $4.50 to $12 per sq ft, depending on how the units are used. Larger units also enjoy a lower psf rent.

'We are heartened by the enthusiastic response from our business partners in locating their retail and F&B outlets at Fusionopolis,' said JTC Corp's assistant CEO, Philip Su.

'It is an endorsement of what the vibrant Fusionopolis stands for, as the first integrated development within one-north which embraces all four work-live-play-learn elements.'

Frasers Hospitality will also be launching its brand of serviced apartments in Fusionopolis, comprising 50 work loft units.

JTC Corp is in talks with more retail and F&B businesses to take up the remaining space. 'We welcome all other like-minded and enterprising business partners to join us in realising the vision of this unique innovative hub,' said Mr Su.

Fusionopolis is a major development at one-north catering to the infocomm, media, science and engineering industries. The first phase has around 1.29 million sq ft of floor space and major R&D tenants include institutes and laboratories under A*Star's science and engineering research council.

Phases 2A and 2B of the Fusionopolis are likely to be completed by 2010.