RESULTS OF THE CAPITOL SITE TENDER
Top Global Limited (the "Company") is pleased to announce that the Company’s whollyowned subsidiary, Top Property Investment (“TPI”), is part of a consortium that has been awarded the tender for a 1.43 hectare site at Stamford Road/North Bridge Road (the “Site”),which comprise, inter alia, an iconic stretch of colonial buildings on Stamford Road.
The Site is expected to be transformed into a vibrant retail, hote, residential and arts precinct.
Reference is made to the announcement dated 19 August 2010 in relation to two confidential tender bids for the Site.
TPI forms part of a consortium (the “Consortium”) established by Mr Pua Seck Guan, the former chief executive of CapitalMall Trust Management. The winning tender bid had been made by the joint subsidiaries of the Consortium, which comprise Perennial (Capitol) Pte. Ltd., a subsdiary of Perennial Real Estate Group, Mr Kwee Liong Seen’s Chesham Properties Pte. Ltd. and TPI. The joint subsiairies, Capitol Retail Management, Capitol Hotel Management and Capitol Residential Development, had submitted a winning bid of S$250 million.
The Site comprises a 1.43 hectare land parcel which is prominently located at the junction of Stamford Road and North Bridge Road. Occupying a prime location in the Civic District, the vision is for the site to be developed into a high-quality mixed-use development that will contribute positively to the built environment, and the lifestyle and entertainment offerings within the city.
URA, in its news release dated 27 October 2010, stated that the winning concept proposal submited by the Consortium, through its joint subsidiaries, features “a high-quality development with an attractive mix of hotel, retail, entertainment and residential uses that will commensurate with the prominent location of the site and contribute to the vibrancy in the Civic District.
[The development] will comprise a new 15-storey building which will house four floors of exciting retail and F&B stores and prime residential apartments above it. Capitol Building and Stamford House will be sensitively restored into a new luxury 5-star hotel, while Capitol Theatre will be transformed into a unique cinema cum performance theatre.”
BY ORDER OF THE BOARD
Hano Maeloa
Managing Director
28 October 2010
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