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1 February 2011
Building agreement signing for Capitol Project at Stamford Road/North Bridge Road
The Building Agreement for the Capitol sale site was signed today between the Government of Singapore and the consortium comprising Capitol Retail Management Pte. Ltd. (as trustee-manager of Capitol Retail Trust), Capitol Hotel Management Pte. Ltd. (as trustee-manager of Capitol Hotel Trust) & Capitol Residential Development Pte. Ltd. The agreement spells out the rights and obligations of the parties with regard to the development of the site.
The consortium was jointly awarded the tender for the Capitol sale site on 27 October 2010. The Capitol sale site was launched for tender by the Urban Redevelopment Authority (URA) on 21 April 2010 and closed on 18 August 2010.
Mr Ng Lang, Chief Executive Officer of URA, signed as Collector of Land Revenue for the Government of Singapore. Signing on behalf of the consortium were:
- Mr Pua Seck Guan, Chief Executive Officer of Perennial Real Estate Pte. Ltd.;
- Mr Kwee Liong Seen, Director of Chesham Properties Pte. Ltd.;
- Mr Hano Maeloa, Chief Executive Officer of Top Global Limited.
Development details
The consortium will oversee the transformation of the site into a vibrant mixed-use development comprising retail, hotel, residential, arts and entertainment uses. A new 15-storey development with shops, eateries and apartments will be built to complement the conserved heritage buildings – Stamford House, Capitol Building and Capitol Theatre to create a unique lifestyle destination for locals and tourists within the Civic District. The development will further enhance the attractiveness of the Civic District which is seeing a new exciting phase of rejuvenation with the development of the National Art Gallery at the former City Hall and Supreme Court buildings.
The development will feature an elegant juxtaposition of conserved and new buildings. The new 15-storey building is designed in a contemporary architectural language that relates well in scale and form to the three conserved buildings within the site, as well as the nearby St Andrew’s Cathedral.
The existing street between Capitol Theatre and Stamford / Capitol Building will be transformed into a pedestrianised galleria lined with eateries. The galleria will be covered with a glass canopy providing weather-protection.
Capitol Theatre will be fully restored and upgraded into an 800-1,000 seats cinema cum performance theatre. Theatre groups will be given in-year residence status to use the theatre and stage performance for part of the year. The remaining part of the year will be used by Golden Village as the largest-single screen cinema in Singapore. It will be a choice venue for red carpet movie premiers and film festivals.
Stamford House and Capitol Building will be transformed to house a new luxury hotel. Unique lifestyle retail and food and beverage establishments will be introduced at the ground floor of these two conserved buildings to complement and synergise with the hotel and arts and entertainment uses within the development.
About the Capitol sale site
The 1.43 ha commercial site is prominently located within the Civic District, fronting onto key roads, Stamford Road and North Bridge Road. It contains a cluster of three historically and architecturally significant building – Capitol Theatre, Capitol Building and Stamford House – which are to be conserved and restored for adaptive re-use. Under the tender conditions, 25 per cent of the total GFA is to be set aside for hotel rooms and hotel-related uses. Capitol Theatre is to be restored for arts or entertainment-related performance facility.
The Government adopted a Concept and Price Revenue tender system to ensure that the development on this site would meet the high standards expected in terms of use, concept, quality of architecture, and sensitive adaptive re-use of the conserved buildings.
Capitol Site – Singapore’s Heritage Lifestyle Precinct in the Civic and Cultural District in the Making
