A new landmark in the making - TripleOne Somerset

The consortium led by Perennial Real Estate Holdings is undertaking an extensive asset enhancement exercise at TripleOne Somerset, offering strata office units and a limited edition of medical suites for sale

Artist’s impression of the revamped TripleOne Somerset

There hasn’t been a launch of new strata office units and medical suites for sale in Singapore’s prime Orchard Road precinct in over three decades. Only units in the secondary market are available, and they are typically in ageing buildings that are in need of a makeover. Owing to scarcity, even units in these properties are trading at premium prices.
Revolutionising the market is a consortium led by Perennial Real Estate Holdings Limited (“Perennial Real Estate Holdings’), an integrated real estate and healthcare company headquartered and listed in Singapore. The consortium bought TripleOne Somerset for S$970 million in 2013, and is pumping another S$150 million for an extensive asset enhancement exercise.
The transformation of TripleOne Somerset will be managed by Perennial Real Estate Holdings, the catalyst behind a string of successful mall re­vamps including CHIJMES and Chinatown Point.
TripleOne Somerset has two 17-storey tow­ers containing premium office space of close to 500,000 sq ft; two levels of retail space of more than 72,000 sq ft and basement parking for more than 400 cars — a luxury compared with most shopping malls in the Orchard Road precinct which suffer from a lack of parking space.

Artist’s impression of the revamped office corridor

EXTENSIVE MAKEOVER
When the asset enhancement works at TripleOne Somerset are completed, the building will have a shimmery new gold facade, transforming it into a new landmark. TripleOne Somerset will also be revamping its retail podium to add new excite­ment and vibrancy through its introduction of a luxurious “Market Place” concept which offers a wide array of specialty...