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Tag: Orchard Road

  • Royal Holdings and RB Capital Buy Singapore Scotts Square for $245 Million

    Royal Holdings and RB Capital Buy Singapore Scotts Square for $245 Million

    Royal Holdings and RB Capital have agreed to buy the Scotts Square shopping centre in Singapore from Wharf Estates Singapore for $245 million. The deal values the Scotts Road property at S$310 million.

    CBRE brokered the transaction. The sale covers a four-storey luxury retail podium with 130,875 square feet of gross floor area and roughly 76,660 square feet of net lettable space next to the Orchard Road shopping belt.

    Valuation Shifts and Prime Yields

    The agreed price reflects a discount from earlier seller expectations. Wharf Estates Singapore first marketed the retail asset in 2024 at $346 million, then cut that target to $300 million as institutional buyers pushed for higher yields.

    Talks accelerated in August after inquiries began at around $253 million, according to the Business Times. Completing due diligence allowed the parties to lock in the final $245 million valuation ahead of a planned closing before the end of the year.

    Luxury Footprint and Tenant Demand

    Scotts Square maintains an occupancy rate of nearly 99 per cent. Anchor luxury tenants include French fashion house Hermes, Christian Louboutin and Vivienne Westwood, supported by streetwear labels, technology retailers and art installations across four floors.

    For landlords along the Orchard corridor, the transaction sets a clear benchmark for boutique luxury retail space outside mega-malls. While larger landlords rely on heavy tourist traffic and mass entertainment, the buyers are betting on compact footprints with top-tier international brands that retain tenants.

    Capital expenditure remains the central risk for the new owners. Retaining luxury anchors requires continuous asset enhancement, especially as competing developments along Orchard Road upgrade their podium spaces for regional luxury spending.

    RB Capital and Royal Holdings will take full operational control of the retail asset when the acquisition closes before the end of December.

  • Singapore Retail Rents Forecast to Rise 2% as Supply Tightens

    Singapore Retail Rents Forecast to Rise 2% as Supply Tightens

    Singapore retail rents will increase by up to 2% this year as landlord negotiations tighten across prime shopping belts. New retail supply will moderate to 241,000 square feet through 2027.

    Orchard Road mall vacancy held broadly stable at 7.2% in the second quarter. Landlords across prime shopping centers are actively refreshing tenant mixes to capture resilient consumer footfall and tourist spending. Prime commercial assets continue to lead property transactions across the city-state, supported by tight floorplate availability and stable yields.

    Supply constraints cushion mall landlords

    Limited incoming space provides a firm floor under prime mall valuations. Developers face restrictive land releases in core commercial districts, keeping completion volumes well below historical ten-year averages through 2027. Tenants seeking flagship positions in downtown centers must negotiate leases months before existing tenancies expire.

    Retailers are adjusting footprints rather than shedding space outright. International fashion and lifestyle brands are trading underperforming suburban formats for refreshed prime city spaces, balancing higher base rents against stronger foot traffic conversions.

    Yields hold across commercial assets

    Offices and retail assets continue to take the lead in Singapore commercial property deals. Investors favor prime retail assets where tight physical supply cushions net operating income against wider regional macroeconomic pressures.

    RetailNews Asia sees this squeeze accelerating landlord use into the second half of the year. While department store operators reassess floor efficiency, specialty dining and experiential brands are absorbing available prime units as fast as leases turn over.

    The next quarter will test whether luxury consumer spending can maintain rental momentum as 241,000 square feet of replacement retail stock prepares to enter the market through 2027.

  • Braun Buffel unveils new store design at Ion Orchard

    Braun Buffel unveils new store design at Ion Orchard

    Braun Buffel has launched its new store concept at Ion Orchard in Singapore, creating a brand experience with multiple physical and digital touch-points.

    The store’s facade features Champagne-gold fonts against soft white frames. To create a modern look, marble stone tiles in light grey with streaks of white tones are used. Hand-brushed finishes on the cement provide a three-dimensional textured effect on both the floors and walls. Pastel rose pink is chosen as the themed color for the walls.

    The Braun Buffel store at Ion Orchard has also unveiled its Spring/Summer 2020 collection with the theme of “Individualism” featuring different selections for men and women.

    Founded 1887, Braun Buffel is exclusively distributed in the Asia Pacific region by Lianbee-Jeco, and has boutiques in The Shoppes at Marina Bay Sands, Ion Orchard, VivoCity, Suntec City Mall, Westgate, and Terminals 2 & 3 (Departure/Transit Lounge) at Changi Airport, as well as counters in selected department stores.

  • Crate & Barrel Singapore closing down store

    Crate & Barrel Singapore closing down store

    Crate & Barrel Singapore will close its flagship store at Orchard Gateway.

    The 25,000sqft five-story outlet has operated at the location for five years, but will close on November 10. That will leave the US home furnishing brand with just one store, at Ion Orchard, however, the brand’s e-commerce platform will continue to trade.

    A statement released by Crate & Barrel Singapore revealed intentions to expand into Malaysia, adding that this “will help increase our brand visibility and representation in today’s retail marketplace, specifically in the Southeast Asia region”.

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  • Bottega Veneta gets a new look in Singapore

    Bottega Veneta gets a new look in Singapore

    The Bottega Veneta Singapore boutique at Ion Orchard has undergone a major makeover.

    The 255sqm store has been fully renovated in time to celebrate the arrival of the first Bottega Veneta collection designed by new creative director Daniel Lee.

    Under the theme of lightness, the space now has a new sense of openness and modernity. Walls are painted bright white or covered in plaster with a Roman ‘travertine texture’.

    Floors are covered with dark ivory limestone and pale carpets, while the ceiling is pure white.

    A pale-hued Antique Oak is used throughout the store to create linear shelves and glass-topped display tables.

    Opened in Singapore in 2009, with the first store at Takashimaya, Bottega Veneta now has four branches in the city.

  • Manifesto opens first Mandarin Gallery flagship

    Manifesto opens first Mandarin Gallery flagship

    Multi-brand concept store Manifesto has opened a new flagship store on Singapore’s Orchard Road. Manifesto’s new space in Mandarin Gallery envelopes guests in “the stark and abstract beauty of the Saharan landscape”, featuring sand colours and organic rock-like contours.

    Inspired by North African architecture, the store uses natural desert hues to reflect the warmth and hospitality. The entrance recalls a nomadic tent, highlighted by LED lights.

    “The design direction reflects our philosophy. We want to welcome customers, wanderers, the same way Bedouins welcome strangers under their tent,” said Manifesto founder Walid Zaazaa.

    The new store offers more than 30 brands encompassing fashion, streetwear and lifestyle accessories, including a curation of hard-to-find brands in Southeast Asia: APC, Lemaire, and Axel Arigato.

    “The most important selling point of our product is scarcity. We have brands of different aesthetic, origin and prices. The common thread between them is how they express their identity through products that are easily wearable, made with outstanding quality, and have interesting stories,” Zaazaa added. The multi-use concrete cashier counter was cast on site and infused with red pigment.

  • Design Orchard mall to open end of the month

    Design Orchard mall to open end of the month

    Design Orchard mall is set to open on January 25 hosting 61 homegrown labels. The new Orchard Road mall, a joint venture between the Singapore Tourism Board (STB), JTC Corporation and Enterprise Singapore, is conceived of as a home and exhibition space for local design work. It features a 9000sqft first-floor retail showcase, second floor incubation spaces, and a rooftop events area. The first level is currently leased to local retailer Naiise.

    Featured supports for local designers include co-working spaces provided by Taff – equipped with professional sewing equipment, a fabric library and collaboration and networking opportunities with industry players – and a mentorship program from Naiise covering marketing and merchandising.

    “Singapore is home to many global brands,” explained STB’s director of retail and dining Ranita Sundra, of the rational behind Design Orchard mall.

    “As these brands become more ubiquitous, we noticed that more people are drawn to local products with a Singapore story. Design Orchard is thus an exciting opportunity for us to profile the best of Singapore talent under one roof.”

    “We hope that it will inspire local talents to join the community, where they can develop and grow their brands with access to mentors, programmes and facilities in a vibrant space along Orchard Road,” added director of products at JTC Wee Pei Yean.

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  • Marcelo Burlon Opens First Flagship Store in Singapore

    Marcelo Burlon Opens First Flagship Store in Singapore

    Italian fashion label Marcelo Burlon has launched a Singapore flagship store on Orchard Road. The Marcelo Burlon Singapore store – the brand’s first in Southesast Asia, will offer a comprehensive range of the brand’s most recent collections, as well as the latest collaborations with NBA and MLB. Exclusive T-shirts were released to celebrate the store’s opening.

    The venue’s interior design reflects the Patagonian roots of the popular designer, who was personally present to attend the launch.

     

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  • Orchard Road retail vacancy rate free jump

    Orchard Road retail vacancy rate free jump

    The Orchard Road retail vacancy rate has dropped to 5.6 per cent in the second quarter.

    According to a report by CBRE, the rate is the lowest in 14 quarters and well below 2016 figures.

    CBRE’s head of research for Southeast Asia Desmond Sim said, “On the back of an improved tourism market, coupled with limited new supply along our famous shopping belt, Orchard Road is still able to attract new tenants.”

    Noting that new-to-market brands still require and demand visible frontages with high footfall, Sim cautioned that there may be vacancies on secondary corridors and secondary floors.

    Meanwhile, senior director of research at Cushman & Wakefield, Christine Li, said, “A two-tier market is forming in the retail segment, as accessible and well-managed malls attract the bulk of pedestrian footfall.

    Retailers and landlords have to continue to reinvent themselves, invest in technology and focus on lifestyle and activity-based experiences to keep pace with the fast-changing retail landscape.”

    This year’s new openings were largely in the food and beverage and fashion categories.

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  • Takashimaya is more losing money than profit

    Takashimaya is more losing money than profit

    Just one of Japanese department store chain Takashimaya’s three overseas stores is currently trading at a profit.

    But the company says it believes it can make them all profitable by 2023, including a fourth store set to open in Bangkok late this year.

    The successful store is on Singapore’s Orchard Road, which opened in 1993 and is reportedly earning more than 3 billion yen (US$27.2 million) annually.

    The chain’s Shanghai store, which opened in 2012, has been hampered by delays in the completion of neighbouring projects which would have drawn higher visitor numbers, along with administration costs running over budget. According to a report published by Nikkei, the store is expected to post its seventh consecutive loss in the 12 months to February next year, but should make money in 2020.

    The Ho Chi Minh City store in Vietnam, which opened in 2016, has “struggled from the start” according to Nikkei, its offer apparently too expensive for middle-class Vietnamese consumers. The company plans to boost sales by “broadening offerings of everyday items for families” which it hopes will lead it into profit in the 2022 year.

    The planned Siam Takashimaya store will be one of the anchors of Siam Piwat’s IconSiam, currently under construction and scheduled to open late this year – possibly in October.

    Takashimaya anticipates the Bangkok store to be profitable in its first year, thanks to rent concessions.

    The company’s president, Shigeru Kimoto, said it plans to continue Southeast Asian expansion, despite the challenges to date because it sees potential in the region.

    “In the long term, we seek to capitalise on Asia’s growth,” he said.

  • The Dark Gallery opens a second cafe and boutique on Orchard Road

    The Dark Gallery opens a second cafe and boutique on Orchard Road

    The Dark Gallery has launched a second cafe and boutique on Orchard Road, featuring a menu that differs from its debut outpost at Millenia Walk.

    In the basement of Takashimaya Shopping Centre, The Dark Gallery is set up to tempt window shoppers with its showcase of ice cream, bon bons, cakes and pastries.

    Its 40-seat dine-in area has a black and gold colour scheme with marble tabletops. The store features Singapore’s first Mod-Bar pour-over and steam system, which is said to extract and render a top brew and milk foam for coffee or chocolate.

    Exclusive is the Four Senses of Chocolate, concoctions of The Dark Gallery’s signature 66 per cent dark chocolate in four drink varieties (Savoury, Sangria, Sucre and Spice).

    Pastries on offer include chocolate croissants, maple chocolate brioche, dark chocolate scone, ice cream cookie, chocolate soufflé, bon bons, pralines and cakes – even a Croque Monsieur.

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  • Desigual Singapore unveils new store in Singapore

    Desigual Singapore unveils new store in Singapore

    Desigual Singapore reopens its Orchard Road store today, the first to feature the fashion brand’s new design concept with its customer-oriented shopping experience.

    The 300sqm space will also be the first Singapore outlet for the brand’s sports category, along with women’s and men’s shoes and accessories.

    Created in collaboration with architect Lazaro Rosa Violan, the store draws its inspiration from the Mediterranean with bright tones and such elements as coffered walls.

    Desigual’s sports category features garments designed for women who want to embrace physical exercise while still following fashion trends.

    Established in Barcelona in 1984, Desigual has more than 4500 employees and a presence in nearly 100 countries through 13 sales channels, more than 500 branded stores and eight product categories.

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  • Orchard Road must not lose its bloom

    Orchard Road must not lose its bloom

    Orchard Road has had many incarnations. It got its name from the many nutmeg and fruit orchards that existed in the last century. It has always been an important street, connecting the residential area of Tanglin to the business and commercial areas of Raffles Place and High Street. At one point, the road hosted car showrooms and even a sprawling cemetery. Its current incarnation as Singapore’s premier shopping belt began in the 1960s after the area was zoned for retail. The grand plan to shape Orchard Road’s future in the next 15 to 20 years should look back at these transformations – save the cemetery, of course – even as it looks ahead.

    Incremental efforts are important, no doubt. For example, a Shibuya-style scramble walk is on trial; it may be replicated if it is successful. Adding to the area’s ambience will be an initiative under which, from next July, smoking in public areas will be allowed only at designated areas within the smoke-free zone. However, if Orchard Road is to bloom again, these moves must become a part of a master plan that takes unpleasant realities into unsentimental account.

    Chief among those realities is that shopping may not continue to be the primary activity with which the road is associated. The proliferation of shopping malls around the country gives shoppers more choice than they once had. Also, online shopping is challenging brick-and-mortar stores around the world. In the United States, for example, several leading department store chains have lost value in recent years, and department stores have shed 500,000 jobs since the beginning of this century. Although shopping will continue to attract tourists to Orchard Road, its stores will have to ride on the global trajectory of marrying traditional and online retailing, for example by having smaller stores with limited inventories complement expanding online operations.

    The larger need is to look beyond shopping itself. One way for Orchard Road is to recreate the times when it was a “happening” place because of famous nightspots and roaring discos. The road must not die at night. During the day as well, parts of the belt could be redeveloped in the form of buildings which house civic facilities that attract crowds. Arts venues for concerts and performances, multi-purpose sports hubs, theme parks within malls, or a children’s centre that makes the area family-friendly are ways to rejuvenate the road.

    These should be considered seriously. The problem now is that Orchard Road’s iconic centrality as a shopping belt in the tourist imagination makes it difficult to refashion the purpose of the place. But it is not a zero-sum game. Local shoppers will have more reason to visit the place if they are attracted by other amenities as well. Orchard Road cannot remain frozen in time.

  • German burger chain Hans Im Gluck opens in Singapore

    German burger chain Hans Im Gluck opens in Singapore

    Following a holiday in Singapore last year, a restaurateur couple has returned to open a casual gourmet burger restaurant, Hans Im Gluck, in Orchard Road.

    The brand’s 50th outlet and first outpost in Asia, it specialises in vegan, vegetarian, beef and chicken burgers served alongside salads, tea infusions and cocktails.

     

     

    Hans Im Gluck was launched seven years ago by Gunilla Hirschberger, a vegan, who set herself the goal of shaking up Germany’s meat-focused dining scene. The 53-year-old Munich-based Swede saw a gap in the market for vegan-friendly offerings at burger restaurants, and with her German husband Thomas Hirschberger opened the first Hans Im Gluck in 2010, named after a German fairytale by the Brothers Grimm.

    They now run 49 outlets in Germany and Austria, with more coming up in Italy and Switzerland.

    Meanwhile, the Singapore restaurant is in a purpose-built outlet between International Building and the Royal Thai Embassy. Next year, the couple will open two more outlets – at Boat Quay and at Republic Plaza, Raffles Place.

    For 15 years, the Hirschbergers ran a Californian-Mexican restaurant chain with 40 outlets across Germany, which they have since sold. When they visited Singapore they say they felt an instant connection to the city.

    “Singapore has a good spirit and is full of different kinds of cultures. People here are open-minded and happy to see new things,” says Gunilla. “The city is innovative and has a good flow.”

    Their Singapore store features imported German-made oak furniture and 180 birch logs, installed throughout the restaurant to resemble a German forest. The menu, which looks like a children’s storybook, features 30 burgers.

    It has its own sauces including vegan mayonnaise and orange mustard, as well as multigrain and sourdough buns made exclusively for the chain and sent frozen from Germany.

    At 4000sqft (370sqm) and seating 180 diners, the restaurant is small compared with the German outlets, of which 23 are family-owned. Those restaurants are usually about 10,000sqft with about 400 seats, excluding the terrace.

    The Singapore restaurants are wholly owned by the Hirschbergers, and the chain is looking to expand into other parts of Asia, including Hong Kong and Taipei.

  • Minion Cafe Opens at Singapore Central

    Minion Cafe Opens at Singapore Central

    A Singapore Minions Cafe has opened at Orchard Central – the first one to trade outside Japan.

    Minions, the yellow cartoon characters who made their debut in the Despicable Me movies and have now spurned their own films, will host diners on the mall’s third floor until January 31.

    Minions Cafe Sg

     

    The Minions said ‘bello’ – which is their language for ‘hello’ in five Japanese cities to coincide with the premiere of the Despicable Me 3 movie.

    The themed character cafe has a menu with 14 options inspired by the movie characters. Exclusive movie merchandise will also be sold on-site.

    The Singapore Minions Cafe popup is operated by Japanese cafe, The Guest Cafe & Diner, which collaborates with a different popular character every two to three months.

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