Top space at OUB Centre for restaurant player
By FELDA CHAY
A NEW tenant is set to move into the top floors of OUB Centre at One Raffles Place for 10 years, where it will operate the tower's viewing gallery and roof-top restaurant.
OUB Centre said yesterday that restaurant, cafe and bar operator Synergyinthesky will take up 16,000 sq ft of commercial space on the top three levels of the tower, where it recently added 6,000 sq ft of space for a viewing gallery.
The space was previously used for storage. The viewing gallery and restaurant will open in the third quarter of this year.
OUB Centre said the occupancy rate for the tower has risen to more than 90 per cent with Synergyinthesky, which is paying rent in line with current rates in the central business district and will pay gradual step-up increases over its 10-year tenancy.
According to a CB Richard Ellis report last month, Grade A office rents were $8 per sq ft per month in the first quarter of this year, down from $8.10 psf the quarter before.
OUB Centre is one of two buildings to be packaged into a development called One Raffles Place. The second building will be ready in 2011.
While office rents have been dipping, OUB Centre said it is confident the take-up rate in its new tower will be positive.
'Our marketing agents are already in discussion with potential tenant,' it said.
When completed next year, the new tower and the existing OUB Centre will together offer 760,000 sq ft of prime Grade A office space, with the second tower to provide some 350,000 sq ft of that space.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
New Raffles Place buzz: Synergyinthesky will move into OUB Centre, which is one of two buildings to be packaged into a development called One Raffles Place
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