Thursday, September 28, 2006
[RealEdge] BT : 20-storey block for Specialists' Centre site
| Published September 28, 2006  | |
| 20-storey block for Specialists' Centre site Tange Associates' design exceeds URA height limit; special approval sought
By KALPANA RASHIWALA
(SINGAPORE) OCBC is poised to make a decision soon on redeveloping the ageing Specialists' Shopping Centre in Orchard Road, sources say - a move that will complete the rejuvenation of the area immediately around Somerset MRT Station. Sources say retail tenants in the building - including Robinson group, which operates a John Little store - have been told to get ready to pack up by the middle of next year, as the bank prepares for various options, including complete redevelopment. BT understands that OCBC has commissioned renowned architectural firm Tange Associates, which has come up with a design for a new project rising about 20 storeys on the Specialists' Centre site and Hotel Phoenix plot behind it. The tower, which is said to front Orchard Road and which will house hotel rooms, will stand above a retail podium, sources say. BT understands it will be business as usual for Specialists' Centre anchor tenant John Little, as operator Robinson group has made plans to move the outlet diagonally across the road to the former OG store's location. The retailer will lease the space from OG group's Tay family. Some of the smaller tenants at Specialists' Centre are also scurrying to nearby locations. Some plan to move to Orchard Plaza, which is undergoing a $6 million refurbishment. The tired-looking building will get a new facade and an internal make-over including new escalators, lighting and fancy toilets Far East Organization, the original developer, retains some shop units in Orchard Plaza's retail podium, giving it about 27 per cent of share value in the building. Observers note that Tange Associates' proposed design for the freehold Specialists' Centre/Hotel Phoenix site exceeds both the 16-storey height limit the Urban Redevelopment Authority has set for the area, as well as the maximum plot ratio - ratio of potential gross floor area to land area - allowed for the site. However, the proposal stands a chance of being approved by URA if it receives a recommendation from the Orchard Road Development Commission (Ordec) - an inter-government agency group set up last year that has been empowered to allow new projects that deviate from current planning parameters. But to be deemed worthy of Ordec's recommendation, proposals must create new, innovative buildings that will generate tourism and other economic spin-offs. At 20 storeys, the proposed development will tower over neighbouring buildings planned on either side of the Specialists' Centre. Far East Organization is developing a 10-storey mall on the former Glutton's Square site, while Lend Lease is expected to build a mall up to six storeys high on the Somerset Central plot. Industry observers reckon OCBC's proposed redevelopment scheme probably also involves a much higher plot ratio than the maximum 5.39 allowed for the site - inclusive of bonus plot ratio for proximity to MRT Station - under Master Plan 2003 or the estimated 6.62 already tapped based on Specialists' Centre/Hotel Phoenix's existing GFA. Property consultants say in such instances, URA would normally allow a new project to retain the existing GFA (based on 6.62 plot ratio in this case) even if it exceeds that allowed under the Master Plan. But BT understands Tange's scheme involves an even higher plot ratio - possibly of around 9.0. The scheme assumes the bank will tear down both Specialists' Centre and Hotel Phoenix and develop a new mall and hotel project on the site. The Hotel Phoenix site is safeguarded for hotel use by URA, which means any new project on the site must have a hotel component. However, OCBC's plans are not cast in stone, sources suggest. 'If for instance, URA turns down Tange's scheme, the bank may decide to retain the hotel at the back and just do a massive refurbishment, OCBC spokeswoman Koh Ching Ching said yesterday: 'We are certainly keen to consider all mutually beneficial possibilities which will help to strengthen Orchard Road's appeal as a major retail, commercial and entertainment belt. 'For our part, OCBC Bank intends to hold on to the Specialists' Shopping Centre and Hotel Phoenix property for long-term investment. The property is in need of refurbishment and it may be appropriate to do so in conjunction with the new developments at the adjacent plots.' |
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