Retail
The retail sector is a core business within the property division contributing a significant portion of the Group’s operating profits.
Artist’s impression: nex - Serangoon Central, Singapore
Guthrie, together with its partners, shares the role as the second largest owner/ co-owner and manager of malls that comprises a total gross floor area of approximately 4 million sq ft and a total value of malls worth about S$4 billion. Its partners comprise local and international investors and fund managers from Australia, Europe and the US.
Among the local projects are :
- Jurong Point, the biggest suburban mall in Singapore – a joint venture between Guthrie GTS Limited and Lee Kim Tah Holdings Limited
- Heartland Mall at Kovan – a joint venture between Guthrie GTS Limited and Prime Retail Holdings Pte Ltd
- nex – the latest Greenfield project. Gold Ridge Pte Ltd is the owner and developer whilst Guthrie is the project manager, retail consultant and marketing manager for the development.
Since its incorporation in 2001, AsiaMalls Management Pte Ltd, a joint venture between ARMF (Singapore) Pte Ltd and Guthrie, manages a portfolio of urban and suburban malls in Singapore namely, Century Square, Hougang Mall, Liang Court, Tiong Bahru Plaza and White Sands. This also includes Tampines 1, which commenced operations in April 2009.
Artist’s impression: Jurong Point,
Phase 3 Residential
A noteworthy development is the Centris, a 610-unit condominium which is part of a mixed-use shopping and residential project adjacent to the Jurong Point Shopping Centre. The development is a tripartite venture with Prime Point Realty Development Pte Ltd of which Guthrie has an indirect 25% stake.
Commercial
Asian Retail Mall Limited fund in which Guthrie has a 7.8% stake, acquired Central Plaza, a 20-storey office tower in Tiong Bahru. Other commercial properties include Guthrie House, strata office units at Guthrie Building and Chinatown Point, strata retail units and multi-storey carpark at Craig Place and shophouses at Amoy Street.
Central Plaza, Singapore