COLLYER Quay and the surrounding corridor of properties are set for big changes under developer Sino Land’s multimillion-dollar makeover plan.

COLLYER Quay and the surrounding corridor of properties are set for big changes under developer Sino Land’s multimillion-dollar makeover plan.

Among the first to be revamped will be One Fullerton, though it is one of the newest buildings on the waterfront.

Sino Land’s plans call for the building to get a new set of tenants offering exciting dining and nightlife possibilities - all by August or September next year, to ride on the National Day festivities.

It is a popular vantage point for the National Day Parade, which is now held on a floating amphitheatre across the bay.

But the big ace up the developer’s sleeve is that the top floor of One Fullerton has the perfect vista onto the hairpin turn of the proposed F1 race track.

The company said it will explore how it can best use its prime waterfront vantage.

Ms Sulian Tan-Wijaya, the new general manager of The Fullerton Heritage, now the name for Sino Land’s clutch of properties in the area, said: ‘There are tremendous opportunities to create special events and promotions in the precinct.’

Sino Land, controlled by the family of property magnate Ng Teng Fong, won the tender for the Collyer Quay corridor amid much public interest. It put in the highest bid at $165.8 million for the land. The group already owns the iconic Fullerton Hotel and Waterboat House.

The Fullerton Heritage project will preserve the distinctive architecture of the area - including historic Clifford Pier and the Customs Harbour Branch Building.

Upmarket restaurant and luxury retailers are meant to fill the area, which will be rebuilt with outdoor decks and spaces for cafes.

The plans also include a six-storey luxury boutique hotel with 100 rooms with ‘full sea views’.

Revellers will be able to party on the water itself as the blueprint calls for a floating plaza with space for a nightspot and several private ‘pods’ for shops or exclusive parties.

The Straits Times understands that the development will also have berths for small boats that will ply the bay.

The Fullerton Heritage is set to grow alongside a string of attractions around the promontory of the Singapore River. This includes the new Marina Bay downtown and financial centre; the Marina Bay Sands integrated resort (IR); the Garden at Marina South; the Singapore Flyer, and the Esplanade Theatres by The Bay.

Together, they will cater to about 50,000 well-heeled executives working in the area, as well as about 20,000 residents in the upcoming residential projects, including The Sail, which will sit right next to the Sino Land development area.

Mr Donald Han, managing director of property consultancy Cushman & Wakefield, told The Straits Times that market interest has been keen, especially in the upmarket Clifford Pier.

The Fullerton Heritage had several factors going for it, he said. For one thing, it would be an architectural showcase, especially with the efforts to preserve Clifford Pier.

But more importantly, it would have one of the longest, and most sought-after waterfronts in Singapore: ‘It’s a view to die for.’

With its multiple buildings, Sino Land can create the draw for a critical mass of visitors, he said. ‘I think of it as the last link, almost, in the entire rejuvenation masterplan for the Marina Bay area.’

When told of the plans, undergraduate Kenny Tan, 21, wondered if it would be too much of a good thing: ‘Hopefully, it doesn’t end up as a white elephant with all the competition from the new IR and downtown.’

But shipping executive Simon Lee, 37, said that he could envision it as the new place to see and be seen.

Source : Straits Times - 28 Sep 2007