The allocation, scheduled to end in the fourth quarter of 2021 with a total charge of S$550 million ($402 million), occupies an area of 2. 4 hectares (258,000 square feet) at infrastructure developer JTC Corporation’s One North business and research park. , which then merged with Capitaland, acquired Rochester Commons through a tender in February 2018.
Rochester Commons will be Singapore’s first built-in campus-style assignment and will come with a 17-story tower, an executive shared learning center and a business hotel run by CapitaLand’s hotel division, The Ascott Limited.
Among the main features of the assignment at Singapore’s 200-hectare One North Mall is a 54,000-square-foot executive education center designed in particular for executives under the Catapult brand, which Rochester Commons plans to share with the community.
Built around technologies such as virtual and augmented truth, some of which are already being tested at the Catapult Showroom next to CapitaLand Coworking Bridge in Singapore Science Park 1, the formula is an immersive 180-degree display to facilitate shared visualization of virtual truth for long workshops and virtual conferences.
“As businesses and Americans adapt to the post-COVID-19 environment, executive education and requalification will be important,” said Tan Yew Chin, CEO of CapitaLand Singapore, in a statement. “Rochester Commons will further complement CapitaLand’s genuine real estate ecosystem and strengthen our competitive advantage. “
Once completed, the Rochester Commons designed through Gensler will come with 200,000 square feet of Class A workspace, adding classic designs and flexible workspaces with seven of the 12 restored heritage bungalows that occupied the site now reused for use in the workplace.
CapitaLand refused to disclose pre-rental transactions or tower tenants or food and beverage spaces, however, Desmond Sim, studio manager, Southeast Asia at CBRE, argued that long-term tenants on one North’s assignment would be in line with those in the park, the current occupants.
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Given his position as a corporate campus, Rick Thomas, Head of Occupant Services at Colliers in Singapore, believes Rochester Commons is up to Singapore’s trend for its head office.
“[CapitaLand] would be a reputable tenant to anchor development,” Thomas said. Current One North tenants have the Internet Sea Platform, Creative Services Infinite Studios, shopee e-commerce platform and Fox Studios.
Upon completion, Rochester Commons will have CapitaLand’s presence in the JTC progression in Queenstown, where it will be installed along with its Galaxis advertising assignment and Ascent Business Park exhibition facility in segment 1 of One North Singapore Science Park.
CapitaLand also owns Singapore Science Park 2 and, thanks to its proximity to the National University of Singapore and government support, One North has a center for the development of sectors such as biomedical sciences, infocomm generation and the media.
CapitaLand sees the new facility as an opportunity to meet the desires of converting the company’s occupants into the workplace by designing the component of their new assignment to accommodate flexible designs.
“Rochester Commons further strengthens and diversifies the Group’s offerings to meet the wishes of workspace and core star corporations and flexibility in the new COVID-19 standard,” said Tan Yew Chin, CEO of CapitaLand Singapore.
In addition to the area component, the new assignment will come with Citadines Connect Rochester Singapore, a 135-room hotel spanning 60,000 square feet, with an additional 22,000 square feet, adding the remaining five bungalows, which will be dedicated to food and beverages. points of sale, as well as other retail outlets.
Citadines’ new assets will complement ascott Group’s existing Fusionopolis Singapore City and the long-term Lyf One North Singapore cohabitation centre in the surrounding area.
To advertise the campus environment, Rochester Commons will also feature a 1,200-foot green path, social spaces designed for organized events, and the entire community has already won the Green Mark Platinum Sustainability Award from the Singapore Building and Construction Authority.