Connect with us

Real Estate

Lido Theatre to be Erased for New Shopping Mall

Chulalongkorn University will spend 1.8 billion baht to develop a new shopping mall on the plot that now houses Lido Theatre in Siam Square in 2014 after spending the same amount to construct Siam Square One nearby.

Daniel Lorenzzo

Published

on

Chulalongkorn University will spend 1.8 billion baht to develop a new shopping mall on the plot that now houses Lido Theatre in Siam Square in 2014 after spending the same amount to construct Siam Square One nearby.

The perspective of  Siam Square One

The perspective of Siam Square One, which is being built on the plot which used to house Siam Theatre.

 

Assoc Prof Permyot Kosolbhand, the university’s vice-president who supervises its Property Management Office, said the new retail project would be the second phase in its property development master plan.

“The university has the potential to invest itself but has to consider our capability and risk. If the risk is high, then we’ll form a joint venture with private operators,”

he said.

But for a prime location like the plots facing Rama I Road opposite Siam Center, it will invest on its own.

He said Siam Square, a trendy hangout for teenagers, has many thousands of tenants whose leases are 1-3 years.

Yesterday, the university launched Siam Square One with a construction budget of 1.8 billion baht. It will be located on an 8.45-rai plot where the Siam Theatre was formerly located before it was blazed. Construction will be completed in late 2013.

Permyot: It’s curtains for Lido by 2014

“In our master plan, we want to gradually undertake a facelift for all of Siam Square but we cannot do so at once as the existing tenants will face difficulties,” he said.

With seven storeys and two underground floors, Siam Square One will have a total construction area of 74,100 square metres. Some 32,600 sq m will be lettable area for 788 shops sized between 4.5-25 sq m.

Monthly rents will range from 35,000-80,000 baht for indoor shops and 2,000 baht per sq m for outdoor areas. The upfront fee will be 15% of monthly rent for a three-year contract.

About 60% of the space will be reserved for former tenants at the Siam Theatre mall, he said.

There will be an 850-seat theatre called Playhouse as the university opened bidding to lease it for nine years. Bidders include WorkPoint Entertainment and TV Thunder.

Assoc Prof Permyot said the university was waiting for approval from the cabinet on its two joint-venture plans: a mixed-use project at Charoen Phon Junction and a hotel in the Siamkit Building.

The Charoen Phon project will likely cost over 6 billion baht and received bids from two giant property groups: L&H Property and TCC Land. L&H offered a higher return, but the university wants an even higher number. A result will be announced next month.

Looking for Bangkok retail space to rent, contact us for more details.

See the original post here:
Lido Theatre to be Razed for New Retail Area

Comments

Real Estate

How COVID-19 regulations are changing landlord-tenant dynamics

The negotiations are dependent on the circumstances of each landlord and tenant, with landlords attempting to strike a balance between maintaining earnings and supporting tenants through the crisis period to sustain occupancy levels and income over the longer term.

Daniel Lorenzzo

Published

on

Hastily enacted regulations addressing a fast-unfolding pandemic have introduced a layer of complexity around leases between tenants and landlords.

(more…)
Continue Reading

Real Estate

Why 5G is racing ahead in Asia

Hong Kong, Seoul, Sydney, Taipei, Manila, Tokyo and Shenzhen have already introduced 5G networks. In May, Bangkok became the first city in Southeast Asia to roll out a 5G network, while Singapore in August started a six-month trial.

Daniel Lorenzzo

Published

on

iStock-1135535759.jpg
Governments and businesses are keen to take advantage of 5G technology like High-speed connectivity, reduced latency and greater reliability

Asia Pacific is leading the charge for the next generation of mobile connectivity. Major cities across the region are rolling out 5G networks this year, which are poised to reshape connectivity and big data with blazing-fast download speeds.

(more…)
Continue Reading

Environment

Real estate Sustainable development spurred by COVID-19 pandemic

There is an increasing awareness of the environmental impact of real estate: the World Green Building Council suggests that buildings are responsible for upwards of 40% of the world’s greenhouse gas emissions.

Daniel Lorenzzo

Published

on

Since the onset of the COVID-19 pandemic, the real estate sector worldwide is stepping up its response to climate change and sustainable development.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,625 other subscribers

Trending