CEL Improvement Launches Komo Shoppes for Rent

Five of those units, with dimensions ranging from 743 to 1,184 sq feet, are distinguished for F&B usage and also have prime frontage along Upper Changi Road North.

The prior Changi Garden had 72 flats on the top floors of this four-storey block, and 12 stores on the floor level. One of the F&B outlets which was there have been a coffeeshop, bistro and an Italian restaurant, Porta-Porta, that was there for over 20 decades back.

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“These previous stores did really well since there’s a massive catchment of folks residing in the region who’d drop by for lunch, coffee break or dinner,” states Michael Ng, executive manager of CEL Development. “And we would like to be certain the brand new Komo Shoppes does nicely also.”

Given there are just five F&B units, the developer is quite selective in making sure that it will get the ideal tenants inside. “We will need to have three or more distinct F&B tenants to supply residents with selection,” states Peter Wee, CEL general director of business development and promotion. “we would like to secure brands that’ll be popular by taxpayers.”

When done sometime in 1H2022, Komo Shoppes is going to be available to the public also. Its catchment area hence extends past the inhabitants of their 276 units at Parc Komo. In the area are the landed property of Jalan Mariam and Toh Estate, in Addition to the personal condos at the Flora Drive and Flora Road enclave. That translates into a combined total of 5,000 families and population size of approximately 20,000, quotes CEL Development’s Ng.

On weekdays, the stores will profit from the lunch bunch from the offices at the neighbouring industrial property and logistics playground, notes Wee.

The shift at the Service 5 bus path is also a blessing for its future tenants at Komo Shoppes. This brings increased convenience for residents residing in the area who wish to dine or shop in Komo Shoppes, adds Wee.

Apart from the five F&B store units, you will find seven other strata-titled units in the initial level using a joint strata region of 7,212 sq ft. CEL Development hence wishes to rent the distance to an upscale grocery store, notes Ng.

On the next degree of Komo Shoppes are 16 strata store units of different sizes, ranging from 323 to 1,679 sq feet in strata region. These retail components are best for tuition centers or enrichment colleges, amenities like hair salons, health spas, or medical practices and dental practices. It’s already seeing interest in the personal medical team considering occupying a number of units on the next degree and operating a experts’ center there,” says Ng.

Laidback Way of Life

This is since the residential enclave because portion of Changi is mainly composed of mid-upper to high-income families, continues Ng. Komo Shoppes is well-positioned as a luxury job, which is based on Parc Komo’s notion of a”resort lifestyle, together with lush landscaping”, he adds.

Together with the Covid-19 pandemic last year, even more people — both young and old — have found the merits of a laidback way of life. It’s also close Jewel in Changi Airport, in Addition to inside a nine-minute walk into the future Loyang MRT Station on the Cross Island Line.

Aside from underground parking for people, there’s dedicated parking area for bikes at Komo Shoppes too. CEL’s priority would be to rent out the store units, the F&B sockets and supermarket at Komo Shoppes. Doing this will create a lively community in the region when the job is finished, adds Ng.

CEL Development plans to incorporate Komo Shoppes to its investment portfolio of earnings recurring assets. It expects to get pre-commitments for the whole retail podium prior to the end of 2021.

Considering that the residential units at Parc Komo were established available in May this past year, 134 units (49%) were consumed. The typical cost of units sold is 1,503 psf. “A freehold job priced at $1,500 psf now is appealing really,” notes Ng.

In reality, after the initiation of the strata store and F&B units, CEL Development will roll out another stage of residential units available in Parc Komo following calendar year.