Lendlease REIT lays down add'l 313@somerset floor area

The approximately 10,000 sqft will maximise the property's full potential.

Lendlease Global Commercial REIT announced it tapped the bonus 10,000 square feet of gross floor area (GFA) from the URA Master Plan 2019. It will be deployed to two prime units on the ground floor of 313@somerset to expand leasable unit space and unlock value for unitholders.

The tenant refresh underscores Lendlease's strategy in optimising the additional leasable space from the URA scheme since the onset of the COVID-19 pandemic. The deployment will be carried out during the fit-out periods to avoid unnecessary hoarding and disruption to other tenants in the mall.

CEO Kelvin Chow commented, "The additional gross floor area allows us to create a mall that connects with the surrounding environment, communities, and our partners to deliver exceptional experiences for all our stakeholders. The extra space has also enabled us to bring to the market novel concepts through collaborations with more retail partners. More importantly, this will help revitalise Singapore's main shopping belt and enhance the asset's value."

In the coming months, 313@somerset will welcome PUMA's first-ever Southeast Asia flagship store as part of the mall's refreshed tenant mix.