FACT SHEET
Centre Description
Parkway Parade is one of Singapore's first major and biggest suburban malls. It comprises 6 levels of retail outlets (including basement), 1 level of Medical Centre and a 17-storey office tower atop the retail podium. The shopping mall is a mixed use (retail and office) development with sub-divided strata ownership.
Parkway Parade is designed around a central mall with a number of smaller secondary malls and boasts an impressive atrium space, which filters in natural light. An external plaza links Parkway Parade to the Marine Parade Town Centre.
Retail Mix
Basement: Food and beverage, eclectic specialty mix.
Level One: Fashion targeting young executives.
Level Two: Lifestyle, family, youth and ladies fashion.
Level Three: Value retailing, food and beverage.
Level Four: Predominantly family entertainment and services.
Level Five: Medical & beauty services.
Level Seven: Furniture Mall / Fitness Centre.
Centre Positioning Statement
Parkway Parade is positioned as the destination of choice with comprehensive offers for families who enjoy a comfortable shopping environment.
Location
Located approximately 8 km's to the East of Singapore's CBD in Marine Parade.
Owner
Parkway Parade is a mixed used development with sub-divided strata ownership. Its majority owners in share values are Prime Asset Holdings and Quintique Investment, both being investment holding companies for a wholesale property fund APIC II (Asia Pacific Investment Company No.2) managed by Lend Lease Investment Management.
Managed By
Lend Lease is a leading property group with broad skills across the property value chain. Headquartered in Australia, Lend Lease operates three core businesses: project management and construction, property investment management and property development. The development business focuses on three key competencies – retail, communities and privatisation.
In the Asia Pacific region, the Lend Lease investment management business manages over A$6.1 billion (as at June 2007) through various funds including Asia Pacific Investment Company II, Asia Retail Investment Fund (ARIF) and Australia Prime Property Fund (APPF).
Lend Lease’s Retail business is distinctive in its ability to manage retail assets across all phases of the development cycle from acquisition, planning and development to the specialist skills of research, leasing, marketing and property management.
Lend Lease has been operating in the Singapore or Asia market since 1973 and operates an integrated business model in this geography comprising Lend Lease Investment Management (funds management), Lend Lease Retail (integrated retail services) and Bovis Lend Lease (project management and construction).
For more information, please refer to Lend Lease website at www.lendlease.com
Total Retailers
251
Major Retailers
Borders, Giant Hypermarket, Isetan, True Fitness, Home Haven on 7, Best Denki, Treats, Cold Storage
Mini Majors
Harvey Norman, Timezone, Banquet Food Court, Marks & Spencer, ESPRIT
Carpark bays
1184
Current NLA
Retail: 49, 981 sqm
Office Tower: 17, 708sqm
Medical: 1,392sqm
Annual Centre Traffic
21 million ( approximately 397,000 customers per week) as at January to December 2007.
Key Milestones
9th March 1984 - Centre opened by Parkway Properties Pty Ltd
24th June 2000 - Centre purchased by Asia Pacific Investment Company
8th March 2002 - Re-Development works commence
November 2002 - Phase 1 completed with changes in the tenancy mix to reflect market positioning including Giant Hypermarket.
March 2003 - Phase 2 works commenced with the up-grade and expansion of the basement food court, TREATS and the creation of an Alfresco dining area at level 1.
November 2003 - Completion of the 'Waterfall' leisure and dining precinct with one of Singapore's tallest glass waterfall, water play area, six food and beverage kiosks and a restaurant.
December 2005 - Completion of two new precincts - Level One Fashion and Basement Gourmet & Lifestyle precincts. The Fashion precinct offers Orchard Road fashion brands complemented with a lifestyle cafe. The gourmet & lifestyle precinct offers a wider choice of gourmet food and lifestyle both Western & Asian.
October 2007 - Completion of Fashion Precinct on Level 2, providing a mix of international fashion brands and a lifestyle cafe that complements.
November 2007 - Borders opens it's first suburban store in Singapore at Parkway Parade. The anchor bookstore operator occupies over 17,000sqft at the basement.
September 2009 - Completion of the new ORA food precinct. Includes new tenants like New York New York, Carl Jr's, Yoshinoya, PuTien and the return of Starbucks and KFC.
Centre Trade Area
Parkway Parade services a densely populated main trade area at just over 524,000 people. Combined with the tertiary area the total trade area is estimated at approximately 1,241,000 people (Source: Urbis JHD 2007).