Thursday, November 09, 2006
[RealEdge] TodayOnline : Facelift for 'grungy' Market St Car Park
 This story was printed from TODAYonline | |
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| Facelift for 'grungy' Market St Car Park Thursday ? November 9, 2006 THE granddaddy of car parks has been given a $14-million facelift. The Market Street Car Park ? located in the heart of the central business district ? now comes packed with not just parking lots, but food and beverage outlets and even a spa. Mr David Tan, chief executive officer of the car park's owner, CapitaCommercial Trust Management, said the revitalisation was necessary as the car park ? the first multi-storey parking facility built in Singapore ? had grown "tired, old and grungy". "This area was dark and dingy, with spare tables and chairs lying around ... the place was a dumping ground," said Mr Tan at the opening of the new Market Street Convenience Hub (picture) on Tuesday. "I looked at it and thought, 'We can do better than that'," he said. So the building was renovated, increasing the net lettable area by about 5,000 sq ft. Rentals have also gone up by 38 per cent. Despite higher tenancy rates ? which in turn translate into higher prices for the consumer ? Mr Tan is confident of the building's appeal. "It's central, integrated and air-conditioned. Morning, evening, tea-time ... people will always come here. Like the old Market Street, this place is always bustling," he said. ? Ashraf Safdar | |
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// posted by Shajahan @ 10:24 AM 