Overseas Union Enterprise unveils OUE Bayfront

The group’s office tower at 50 Collyer Quay achieves close to 60% take-up as project is due for completion in first quarter 2011.

Mainboard-Listed Overseas Union Enterprise Limited (“OUE”) on Friday announced the official name of its upcoming commercial project at 50 Collyer Quay “OUE Bayfront” as a reflection of the unique location of the development along the shoreline of Marina Bay and OUE’s enduring business heritage in Singapore.

The 18-storey premium Grade A office tower, together with its adjoining properties which comprise the iconic Change Alley Aerial Plaza Tower under conservation and the Change Allet Linkbridge, are strategically located at the heart of the CBD’s Marina Bay area. This development benefits from the existing transportation and infrastructure links at Raffles Place MRT Station, OUE Bayfront’s accessibility married with stylish design and clear views across Marina Bay, has attracted a number of multinational organizations.

Commenting on the naming of OUE Bayfront, OUE’s Executive Chairman Dr. Stephen Riady, said, “We decided on he name ‘OUE Bayfront’ as it reflects the project’s vantage location and the spectacular panoramic view of the entire Marina Bay area that it offers. Bearing in mind the historical value of the site, we also chose this name to project the enduring busoness heritage of OUE, making this development yet another trademark of how OUE strives to enhance and unlock the value of the assets in our portfolio. The office tower is scheduled for completion in first quarter of 2011. OUE will also be moving its corporate office from its current location at Mandarin Orchard to the downtown building.”

With a gross floor area of about 500,000 sq. ft. and with a floor plates ranging from 26,000 sq. ft. to 30,000 sq. ft. OUE Bayfront has, to date, achieve occupancy from many reputable tenants including Merrill Lynch International Bank Limited (Merchant Bank), Allen & Overy LLP, Skandinaviska Enskilda Banken AB (PUBL) Singapore Branch and Citrix Systems Singapore Pte Ltd, according to an OUE report.

Mr Chris Archibold, Head of Markets at Jones Lang LaSalle, the sole leasing agent for OUE Bayfront said, “We have seen a lot of occupiers interest in OUE Bayfront due to the quality of the development, the large 30,000-square feet floor plates and the unblocked Marina Bay views. This is a vote of confidence that this development is able to meet the needs of global companies, and a testament to the design and quality of this first-class development, its convenient location and premium amenities.”

Other than the 14 floors of prime Grade A space, the OUE Bayfront will also offer a roof terrace restaurant offering unrivalled views across Marina Bay and the CBD skyline. This dining option is complemented by the Change Alley Aerial Plaza tower and the Change Alley Linkbridge. The Change Alley Aerial Plaza Tower, a heritage building restores to its former glory, will provide a unique dining location in the Marina Bay area, with its iconic revolving platform. The Change Alley Linkbridge, which has been refurbished and reconfigured with retail and food an beverage outlets, will provide the necessary services to the office crowd in the vicinity, whilst providing an easy walking connection into Raffles Place.

OUE Bayfront was awarded the BCA Green Mark Gold certification for its environmentally sustainable design in 2009.