The former Golden Shoe Car Park at 88 Market Street has been renamed CapitaSpring by joint venture partners CapitaLand, CapitaLand Commercial Trust (CCT) and Mitsubishi Estate Co. The 51-storey skyscraper has secured global investment bank JP Morgan as its first anchor tenant.

JP Morgan will occupy a total of 155,000 sq ft of space spanning levels 24 to 30 of the tower. This is equivalent to a quarter of the net lettable area of 635, 000 sq ft at CapitaSpring. JP Morgan will be relocating from Capital Tower, where it has been an anchor tenant since 2001. Incidentally, Capital Tower is also part of CCT’s portfolio of commercial properties.

Scheduled for completion in 1H2021 and with a height of 280m, CapitaSpring will be one of the tallest skyscrapers in Raffles Place. The $1.82 billion tower will feature 29 floors of office space; a 299-unit Citadines branded serviced residence across eight floors to be managed by CapitaLand’s The Ascott; five levels of car park; and 12,000 sq ft of retail space. The Market Street Food Centre, that used to be located at the former Golden Shoe Car Park, will return to a new food centre that will occupy the second and third levels of the tower.

CapitaLand and CCT each hold a 45% stake in CapitaSpring, while Mitsubishi Estate holds the remaining 10%.