Wheelock Place renamed LANDMARK Orchard after Hongkong Land's S$1.1 billion acquisition
Wheelock Place on Orchard Road has been renamed LANDMARK Orchard, marking the first use of the LANDMARK name outside Hong Kong. The property was acquired in August by Hongkong Land through its Singapore Central Private Real Estate Fund in a deal valued at about S$1.1 billion.
SINGAPORE: Wheelock Place was renamed LANDMARK Orchard on Thursday (12 Nov) after 30 years of operating under its former name. The property had been acquired in August by property development group Hongkong Land, which owns Hong Kong's high-end commercial complex LANDMARK.
The acquisition was made through its Singapore Central Private Real Estate Fund (SCPREF), in a deal valued at about S$1.1 billion (US$855 million), according to a July report by the South China Morning Post. The name change marks the first use of the LANDMARK name outside Hong Kong.
In a press release on Thursday, Hongkong Land said the renaming marked a new chapter for the property, building on its more than 30-year presence on Orchard Road. “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,” said SCPREF chief executive Foo Pei Teng.
Hongkong Land said it would draw on its experience in investing in and managing premium commercial properties across Asia to enhance the property but did not provide details on possible plans. “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,” said Foo.
Located at the junction of Orchard Road, Scotts Road and Paterson Road, the property opened in 1994 as Lane Crawford Place, housing an outlet of Hong Kong luxury department store Lane Crawford. The department store closed in 1996, and the building was subsequently renamed Wheelock Place, after its owner Wheelock Properties. The mixed-use development comprises a retail podium and a 21-storey office tower, with direct connectivity to Orchard MRT station.
