Jun 25, 2010 - PropertyGuru.com.sg
Gardens by the Bay is set to open next November, giving customers a chance to experience fancy dining “in a tree” or among endangered flowers and plants.
According to the National Parks Board, the attraction, spanning 9,400 sq m or about two football fields, will have 18 food and beverage (F&B) spaces.
Gardens by the Bay is now negotiations with potential tenants from Australia, Hong Kong, Singapore and the UK to discuss ideas for the restaurants.
Darren Oh, assistant director of Gardens by the Bay, said: “The concepts range from the mid-, high-end type of restaurant setting. One of it could be a restaurant within the Mediterranean garden. The concept that was being proposed are more of the European and Italian types of concept.”
“However, we have also received proposals that are looking into developing a potential Satay Club-like setting next to the water front,” he added.
NParks plans to open the public tender for the 18 F&B spaces on September.
Rentals at the site could hover around S$6 psf, similar to those offered at the Alkaff Mansion or the Singapore Botanical Gardens, according to property experts.
"At the moment we don't know what is slated to come on but I think the retail sector especially in the last one and half years have seen triple the amount,” said Colin Tan, head of Research and Consultancy at Suntec Chesterton International.
“Rents have been a bit subdued. If we don't see any substantial developments coming up, maybe we can see about S$10 per square foot," he added.
The F&B business at Gardens by the Bay will not be a direct competitor of those at Marina Barrage and Marina Bay Sands as they serve different customers, said several observers.
Phase One of the project is likely to attract five million visitors a year once it is completed by the end of 2011.