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Published July 27, 2011

OUE Bayfront office 77% leased

By EMILYN YAP


Overseas Union Enterprise (OUE) has secured more tenants for OUE Bayfront, inking committed leases for over 77 per cent of the building's office net lettable area.

The property group has also completed the refurbishment of the former Change Alley Aerial Plaza Tower and Change Alley Link Bridge, renaming them OUE Tower and OUE Link respectively. Net lettable area in these two spots have been fully taken up.

In a press release yesterday, OUE unveiled new tenants at OUE Bayfront, which include international law firm Hogan Lovells International and a Swiss bank subsidiary Union Bancaire Privee (Singapore).

OUE Bayfront received temporary occupation permit earlier this year and has attracted companies such as Allen & Overy and Citrix Systems Singapore. The building offers prime Grade A office space, and a restaurant is expected to open on the rooftop towards the end of the year.

The total office net lettable area at OUE Bayfront currently, excluding the rooftop restaurant, is 387,358 sq ft.

At the new OUE Tower, a fine dining Chinese restaurant will also set up shop. The building has a revolving platform and a net lettable area of 11,800 sq ft. It received heritage conservation status in 2007 and is newly restored by OUE.

OUE Link, which connects Raffles Place to the new Marina Bay financial district, has a net lettable area of 2,854 sq ft and is lined with retail and food and beverage outlets. Both OUE Tower and OUE Link have been fully leased.

'We believe a good retail mix at OUE Tower and OUE Link will complement our adjoining commercial development, OUE Bayfront,' said OUE executive chairman Stephen Riady, adding that one of the group's strategies is to have an 'effective combination of commercial and retail space at prime locations within the central business district'.

OUE lost two cents on the stock market yesterday, closing at $2.91.