Wheelock Place on Orchard Road has been renamed LANDMARK Orchard, becoming Hongkong Land’s first property outside Hong Kong to bear the LANDMARK name.
First use of LANDMARK name outside Hong Kong
Hongkong Land announced in a statement on Thursday (12 November) that Wheelock Place would be renamed LANDMARK Orchard with immediate effect, marking its first use of the LANDMARK name in a market outside Hong Kong.
The Singapore Central Private Real Estate Fund (SCPREF), established by Hongkong Land in February this year, acquired Wheelock Place for S$1.1 billion from Hong Kong-listed Wharf Real Estate Investment. The transaction was completed in August this year.
Foo Pei Teng, Chief Executive of SCPREF, said: “The name LANDMARK Orchard reflects our commitment to the quality of experience we will create for tenants, visitors and the wider community through this property. Hongkong Land has a long history of investment in its assets and we look forward to bringing that long-term investment approach to LANDMARK Orchard.”
The statement did not mention any improvement plans for LANDMARK Orchard. Hongkong Land is investing US$1 billion (about S$1.3 billion) in a major upgrade of LANDMARK in Hong Kong.
LANDMARK Orchard has stood at 501 Orchard Road since 1993, more than 30 years ago. The 21-storey mixed-use development comprises 16 floors of offices and seven floors of retail space, including two basement levels, with a total gross floor area of 43,280 square metres (about 465,860 square feet).
According to the mall’s website, it currently has 92 outlets from Basement 2 to Level 5, spanning dining, fashion, beauty and wellness, speciality stores, services and clinics. Medical clinics offering services such as ophthalmology, aesthetic medicine and dentistry are concentrated on Level 5.
