Coming into bloom: Occupancy lull is over for Orchard’s neglected west end

 The underdeveloped area is ripe for the picking.

Orchard Road’s western end is a perennial laggard in the posh street’s developments. But a revitalization is on the way for the neglected area, as investors turn their sights on developing West Orchard amidst a space dearth in the country’s shopping capital.

According to OCBC, there is a deep value in West Orchard that could be unlocked to remedy an upcoming space dearth in Orchard road.

“Given this, we believe forward-looking investors should turn their eyes to the western end of Orchard Road - from Far East Shopping Center to Tanglin Mall – a neglected area of relatively dated assets that holds significant potential for redevelopment and expansion,” noted OCBC.

Here’s more:
In particular, Hotel Properties Ltd (HPL), which owns a large combined site in that area, has been long reported in the media to be considering a mega-development and recently saw a general offer made by a consortium comprising strategic partners, Mr. Ong Beng Seng and Wheelock Properties Ltd. (Wheelock).

From our research, we believe there is a meaningful confluence of fundamental drivers supporting the revitalization of West Orchard ahead.

For instance, authorities have planned comprehensive underground links from the key Orchard MRT station to the area, and also a new MRT station near Tanglin Mall, in addition to various incentives for redevelopments through the Master Plan.