Guoco Midtown poised to become Beach Road's new landmark

By
/ EdgeProp Singapore
|
April 26, 2019 5:29 PM SGT
Having transformed the Tanjong Pagar neighbourhood with its $3.2 billion Tanjong Pagar Centre integrated development, listed property developer GuocoLand intends to repeat that feat at the junction of Beach Road and Rochor Road with its upcoming Guoco Midtown.
The mixed-use development is situated at the intersection of three key office micro-markets, namely City Hall, Marina Centre and Bugis, says Cheng Hsing Yao, group managing director of GuocoLand Singapore.
Guoco Midtown sits on a 2.1ha, 99-year leasehold site purchased by GuocoLand in a government land sales (GLS) tender for $1.62 billion. The project, scheduled for completion in 2022 with an estimated cost of $2.4 billion, will have a total built-up area of 950,600 sq ft. Offices will make up 770,000 sq ft (81%) of the area; retail and F&B spaces will account for another 32,290 sq ft; while the residential component will have more than 200 units. Public spaces will take up 170,000 sq ft.
The $2.4 billion Guoco Midtown will have a mix of Grade-A office space, retail and F&B, public space and residences (Picture Credit: GuocoLand)
The development will contain two high-rise towers – the 30-storey Grade-A office tower and 32-storey residential tower called Midtown Bay – and a series of low-rise blocks: a five-storey Network Hub that is connected to the office tower; a three-storey, conserved building that formerly housed the Beach Road Police Station; and a two-storey retail and F&B component.
‘Street level, human-scale’
“In conceptualising the development, we took inspiration from the heritage buildings and conservation shophouses in the surroundings to create a more ‘human-scale’, street feel,” says Cheng.
For a more vibrant streetscape, there will be two distinct “Shop n Dine” clusters with al fresco dining in two sheltered public spaces, the 10,000 sq ft City Room and 10,900 sq ft Market Place. The building for the former Beach Road Police Station will be transformed into F&B and retail spaces on the first level and offices on the upper two floors, which Cheng says “is ideal for companies in the creative industry who want a boutique, quirky office space”.
There are also two internal streets within the development – Ocean Avenue and Seawater Street – so named because the project is built on reclaimed land. The latter...