On the most happening Beach Road under rejuvenation, more and more owners give a new lease of life to their ageing properties.
The latest announcement comes from the 48-year old Shaw Towers, the popular waffle maker design building of brutalist architecture.
It actually kicked off with the completion of South Beach in 2016 followed by Duo, the next year.
Shaw Towers on 100, Beach Road stands next in line for a definite change, ideally placed between Guoco Midtown and South Beach.
Senior Director, Alan Cheong of Savills Singapore is optimistic that these new buildings would adorn the island’s skyline magnificently.
Though a clear notice has been given to the tenants for relocation by June 2020, plans to either renovate or redevelop is under consideration and expected to be decided by the end of this month.
A team of experts have been appointed by Shaw Towers Realty, the owners / managers of the property to put forward the best plans for the transformation process.
Its 150 occupants on the 35-storey building have been enjoying the beach location and view.
Lenbrook Asia, who display their beautiful office at Shaw Towers through a virtual tour are just confident that they would find a suitable space to relocate within the stipulated time.
Property Expert, Edmund Tie & Co (ET&Co) set up their first office on the 35th floor of the building and remained for a good two decades until they moved to Shenton Way last year.
Their Chief Executive, Ong Choon Fah reminiscences over the beautiful beach view from the building.
The owners, with their roots in Ningbo, Shanghai migrated and founded the Shaw Group company as early as 1924.
With interests in cinemas, amusement parks, commercial and residential projects, they contribute to the welfare of the society as well by way of educational scholarships through rentals received from properties like Shaw Towers.
So, this building’s renovation or redevelopment is not seen as an asset optimization exercise.
Presently, Shaw Towers has an office space of 260,000 square feet and retail space of 1,00,000 square feet, named as Shaw Leisure Gallery.
It stands tall among its prominent neighbours – the Suntec City Convention Hall, Raffles Hotel, National University, Singapore Management University etc.
While the occupants are busy finding their new business space and the experts in working out an optimum solution for the building, the New Year will announce yet another new beginning poised for Shaw Towers.