Search Articles

in

Recommended For You

Seletar Airport to be rebuilt in upgrading plan
Seletar Airport to be rebuilt in upgrading plan

The Straits Times -
24 Nov 2014

Expanded operations there will help raise efficiency at Changi Airp...


Vacated prime sites await word on their future
Vacated prime sites await word on their future

The Straits Times -
17 Oct 2014

AS A number of prime sites get vacated, the authorities are working...


The new 'new Tiong Bahru'
The new 'new Tiong Bahru'

The Business Times -
07 Oct 2014

Debbie Yonglooks at the latest wave of openings that is transformin...



Latest Related Ads

Commonwealth Towers
Commonwealth Towers (D03) Condominium, For Sale

COMMONWEALTH TOWERS @
QUEENSTOWN by City
Developm


The Panorama
The Panorama (D20) Condominium, For Sale

THE PANORAMA RELAUNCH!
DON'T
MISS! ***************


The Santorini
The Santorini (D18) Condominium, For Sale

MISSED OUT LAUNCHES AT
$5XXK? HERE IS YOUR
CHANCE!



Featured Videos

Newsletter

Subscribe to receive the hottest news & property trends, updates on popular properties and promotions from STProperty & our partners

Singapore Property News

McDonald's Place set for redevelopment

King Albert Park outlet is popular hangout for students and residents

The Straits Times - April 14, 2012
By: Ng Kai Ling

| More
McDonald's Place set for redevelopment-- ST PHOTO: SEAH KWANG PENG

STUDENTS at schools near King Albert Park will need to look for a new hangout when McDonald's Place is redeveloped.

Home to tenants like McDonald's and Cold Storage, the two-storey commercial building on freehold land was recently sold for $150 million.

The Straits Times understands that the new owner, Oxley Holdings, intends to develop the 5,534.8 sq m site - at the junction of Clementi and Bukit Timah roads - for both commercial and residential use.

Tenants told The Straits Times that they have not been informed by the building's management when they have to move.

A McDonald's spokesman could not provide more information on its plans or comment on how it would be affected by the sale. The company also has its corporate headquarters there.

Opened in 1991, the fast-food outlet is popular among students from schools in the area such as Methodist Girls' School, St Margaret's Secondary School, Ngee Ann Polytechnic and the Singapore Institute of Management (SIM). They go to the 24-hour restaurant for meals, and to socialise with friends or study.

SIM student Kirat Singh said the outlet is a meeting point for him and his friends. 'We come here every day. It's near our school and it's a nice place to study in and hang out,' said the 18-year-old.

Jasmine Mehaffay, a Secondary 4 student at St Margaret's, said she and her friends would have to look for an alternative when McDonald's in King Albert Park closes.

The 16-year-old said: 'We prefer to study outside together instead of at home. Maybe we will move to Serene Centre, but the vibe here is better and there are many other young people here.'

Serene Centre in Dunearn Road is about 4km away.

Other McDonald's Place tenants are worried that their businesses will be affected, as their leases could be cut short.

Mr Marc Dass, commercial manager at Peranakan eatery Chinta Manis, said it opened last July after signing a three-year lease with the building's previous owner, Valewood Investments.

He added: 'We had done our projections based on the lease period, so we are concerned about how we are going to recover our investment.'

Mr Stanley Kwok, owner of ice-cream parlour Island Creamery, is reluctant to leave the 'attractive location' after opening there in 2010.

'It is near many schools and many of our customers also live in the area. It would be a pity if we cannot stay on here,' he said.

Apart from students, residents of the area said they will also miss the place after any redevelopment.

Retiree and long-time resident of the area Catherine Chew, 63, said her two grown-up daughters - who used to attend Methodist Girls' School - were also regulars at King Albert Park.

She added: 'I didn't mind them going there, at least I knew where they were. We live nearby so I would call them and they could easily go home.'

Mrs Chatporn Doerflinger, 55, who moved to Singapore from Thailand just two weeks ago, has already grown to appreciate the presence of the Cold Storage supermarket.

'It's so convenient for me. I come here at least two to three times a week. I can find everything I need here,' said the housewife.

| More

More homes go under the hammer in weak market

More homes go under the hammer in weak market

The Straits Times - 21 Nov 2014

Big jump in property auctions as banks try to recover unpaid loans


Luxury homes face nearly $3m in losses in mortgagee sale

Luxury homes face nearly $3m in losses in mortgagee sale

The Straits Times - 24 Nov 2014

TWO luxury homes in Singapore are on the market at prices that would mean losses of nearly $3 million each as the local property market continues to weaken.


Policy tweaks to ensure a softer landing

Policy tweaks to ensure a softer landing

The Business Times - 21 Nov 2014

THE calls to ease the property cooling measures affecting the Singapore residential property market have gained intensity amid news of tepid property sales and falling prices.

View articles from these categories

X

Hotel trust slated for S'pore IPO

The Straits Times - April 13, 2012

By: Jonathan Kwok