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Bottle Tree Park to get new features
29/07/2014 on mypaper
UNDER NEW MANAGEMENT: Fullshare Group, a Chinese company, secured the lease for Bottle Tree Park's site with a bid of $169,000 a month. The firm will invest $5 million in a redevelopment. (PHOTO: THE STRAITS TIMES)
THINGS will never be the same at the iconic Bottle Tree Park.
For one thing, it may have a new name.
Furthermore, its management is being taken over by a Chinese company that has offered to pay a far higher rental than any of the other bidders.
It plans to develop a leisure park after Bottle Tree Park is shuttered next month, Lianhe Zaobao reported yesterday.
Apparently, the rustic character of the area will be retained, the report said, but several new features will be added. The redeveloped attraction is to start operation at the end of this year, or the beginning of next.
After the lease was extended many times, the site in Lorong Chencharu was finally put up for redevelopment.
Fullshare Group secured the lease with a bid of $169,000 a month.
This amount is more than double the guide rent of $72,200 listed on the tender specifications issued by the Urban Redevelopment Authority and $47,000 more than the next highest bid of $122,000 by Sinflora (S).
The tenure is three years, with an option to extend it until April 2020.
The company is planning a leisure park on the 51,500 sq m Bottle Tree Park site, with a variety of food-and-beverage outlets, and activities such as camping, fishing and prawning.
It will invest $5 million in the redevelopment, but intends to retain the kampung flavour of the site.
However, the park is likely to be renamed.
Fullshare could use one of the current brands under the company, or create a new brand for the park.
According to its website, Fullshare Group is one of the top 500 private enterprises in China, and it has been expanding its overseas market since 2008. Its interests are in "tourism real estate, health care, medical technology and high-end tourism business development".
The website says the firm has investments in China, Australia, Canada, Hong Kong and Singapore, and it was established here in 2011.
The company intends to set up an overseas headquarters in Singapore, and is investing in several ventures here, it told Lianhe Zaobao.
My Paper reported last month that Bottle Tree Park was going to close. Its last day is Aug 10 and its lease expires on Aug 18.
Bottle Tree managing director Alex Neo told My Paper it had taken part in the tender exercise, but put in a bid of only $68,000.

 

 

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Bottle Tree Park to get new features
29/07/2014 on mypaper
The firm will invest $5 million in a redevelopment.
Apparently, the rustic character of the area will be retained, the report said, but several new features will be added. The redeveloped attraction is to start operation at the end of this year, or the beginning of next.
The tenure is three years, with an option to extend it until April 2020.
The company is planning a leisure park on the 51,500 sq m Bottle Tree Park site, with a variety of food-and-beverage outlets, and activities such as camping, fishing and prawning.
It will invest $5 million in the redevelopment, but intends to retain the kampung flavour of the site.

Pump in $5 million but can start operation end of this year or beginning of next? Plus $169k lease/month, must not only break even within 3-year lease (or plus 3 more) but turn a profit? Must be a very interesting business model indeed.

 

I'll believe it when I see it.

 

 

 

 

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Pump in $5 million but can start operation end of this year or beginning of next? Plus $169k lease/month, must not only break even within 3-year lease (or plus 3 more) but turn a profit? Must be a very interesting business model indeed.

 

I'll believe it when I see it.

 

 

 

 

 

 

Hard to believe !

Well, they may start to recoup back with carpark entrance fees, or add in some adventures into the park ?!

But, really hard to break even leh...

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洗黑钱

 

No point invest so much for a washing machine lah..

 

Set up those HFJ can liao.. Black hole lai de..

 

Curious thing is the rent bid til so high.. They must hope to make back even higher..

 

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eh.... its for the WHOLE of botte tree park? its HUGE iirc...

 

 

i guess so, and it won't be called Bottle Tree park anymore [laugh][laugh]

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The company bid for so high........ that mean Bottle Tree will be transformed into a Atas and Luxury place and they will charge us also high.

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The company bid for so high........ that mean Bottle Tree will be transformed into a Atas and Luxury place and they will charge us also high.

 

 

if you never been there, you will never go there, no need to worry :D

Edited by Jman888

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That's why we love FTs and businesses so much while neglecting the locals for so looooong......

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$169k/mth? Crazy [hur] [hur]

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Maybe is build wonderpiak land [grin]

 

Got all kind of rides!!!

Got fast got slow, got in got out [grin]

Gonna be a one piak entertainment centre [grin]

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Maybe is build wonderpiak land [grin]

 

Got all kind of rides!!!

Got fast got slow, got in got out [grin]

Gonna be a one piak entertainment centre [grin]

Got drive thru or not huh?.. Hehehe.. Edited by Blackyv
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Maybe is build wonderpiak land [grin]

 

Got all kind of rides!!!

Got fast got slow, got in got out [grin]

Gonna be a one piak entertainment centre [grin]

 

I would be semi supportive if they developed a wonderland with non watered down rides in addition to rides for young children.

 

Roller Coster, top gun...bungee.....etc etc.

 

But since its China Coy, given their track record for parts supplying for trains, Aston Martin....abit worrying.....

 

Could be like what a reg bro in finance thread mentioned.......pump in so much......only to decalre closure a few years later......release some statement, say they invested 7 million incl of rental, they made nett loss of 700k. But actually.....the initial monies were ......

 

Btw, any bro knows for Forbes/Fortune 500............do they have staff, investigative journa to check b4 listing them ?

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This is the one and only reason why Sg is so expensive to live in.

Outlying areas are bidded so high, there is no cheap place left to go relax.

 

The only beneficiary is SLA, and eventually, only the rich will will be able to afford to patronise such places.

 

If the business model fails, the place shuts down.. everybody loses.

 

 

 

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This is the one and only reason why Sg is so expensive to live in.

Outlying areas are bidded so high, there is no cheap place left to go relax.

 

The only beneficiary is SLA, and eventually, only the rich will will be able to afford to patronise such places.

 

If the business model fails, the place shuts down.. everybody loses.

 

 

 

why not? they come here pump money govt happy. since when our govt lose.

 

if people put one pot of gold infront give you, will you take it? every one will.

 

what makes a differences is what you do with that pot of gold.

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It is actually quite worrying for me if the authorities give out the lease just based on bid amount

 

They should evaluate the bid amount together with the value proposition of what the bidder wants to do with the place. That would ensure that the bidder brings the right kind of development and more importantly a sustainable one.

 

I hope the authorities has that 5m development plan in detail and decided those plans are right and viable. And not just because they are the highest bidder.

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