Sigh, there goes another of our childhood haunts, unable to withstand the passage of time.
If you’re a fellow Eastie who grew up here, you’d probably have gone to Bedok Point one too many times after school to hang out with your buddies.
That is, before the swanky and new Bedok Mall appeared in 2013, stealing the spotlight away from its predecessor in the heart of the estate.
Sadly, although many saw it coming, we’re going to have to bid farewell to Bedok Point soon.
Bedok Point To Be Redeveloped Into Residential-Commercial Space
The mall, standing in the remnants of its heyday, will be redeveloped into a mixed-use development, owner Frasers Property confirmed in May.
It has plans to be turned into a residential development with commercial shops on the ground floor instead, which has already been approved by the Urban Redevelopment Authority (URA).
Sounds like another mall nearby, eh?
“We are looking to create a sustainable, safe and adaptable environment that enjoys greater connectivity and accessibility,” a spokesperson from Frasers Property said.
As of now, they are still unable to reveal further plans as talks with the relevant authorities are still ongoing.
No specific reason for the redevelopment or a gauge of when this would be happening was given as well.
However, tenants of the mall guessed that it could happen as early as the beginning of 2022, seeing as they had already been informed earlier this year so that they could make business continuity plans.
Due to the decreased footfall traffic in the mall, not to mention with the COVID-19 outbreak, the business hasn’t been the best, and the tenants were already prepared for the news.
Additionally, it’s also a little more difficult to get to Bedok Point as compared to Bedok Mall, which is located directly at the Bedok MRT station and bus interchange.
Won’t Be Able To Win
Frasers Centrepoint Trust, who used to own the mall before it was bought over by Frasers Property under the same group, sold it off for a lower price than what it was acquired for.
Explaining the drop between the original S$127 million price and the $108 million it was sold for, they said the mall had a limited ability to become the dominant one in Bedok due to size constraints and lack of direct connectivity.
Who can blame them, really, if you’ve seen the whopping size of Bedok Mall that easily triumphs over the neighbourhood?
Despite proactive leasing and re-positioning strategies for better performance as “competition intensified due to new competing retail offering which is larger and better located within its immediate catchment,” it remained difficult.
Tenants Unsure Of Future
The ones who will always be most affected by redevelopment plans are usually the tenants, but this time, they’ve already been expecting the “open secret.”
Trendy Eyes’ owner Mr Jackson Lee said that despite manageable rental fees, there’s not much of a value to it due to slow business and the lack of accessibility.
“In terms of offerings, Bedok Point doesn’t really have strong anchor tenants. The mall is not really doing much to attract people,” he added.
Although he plans to stay in the area to keep his regular customers, the lack of knowledge about finalised plans and the high rental costs in malls like Eastpoint Mall in Simei, also owned by Frasers Property, has him in limbo.
Likewise, Ms Wendy Hsu, owner of the sole Xiang Xiang Traditional Taiwanese Cuisine outlet in Singapore, has no plans as to where she will move to next.
Critics and food reviews managed to draw in customers to her restaurant despite the rather “quiet” business in the mall as compared to Bedok Mall, she said.
Having been in the mall for three years, she’s seen many tenants come and go easily – but will stay on until the end of her lease.
Yet, she expects that the redevelopment may be delayed due to the pandemic’s impact on slowing down the construction scene.
Analysts Say It Could Take Four Years
If you’re feeling an awful sense of bittersweet nostalgia from reading this, there may still be time for you to visit the mall before it’s gone.
Typically, including demolition and construction, such a redevelopment project could take up to anywhere from three to four years, said analyst Ms Pearl Lok from real estate services company Colliers.
With the current manpower and material crunch in the construction industry, the redevelopment timeline may be pushed back even further, she added.
Tenants who are affected may also be offered spaces in other Frasers Property malls too.
Although the mall’s location plays a part in its fate, the redevelopment to a residential and commercial space may show better results as it still stands in the heart of the action in Bedok, said Ms Lok.
Young families may be attracted to it seeing as there are many primary schools around the area in addition to food centres, polyclinics and transport nodes.
Well, hopefully new memories will be made by the future generations to come just as it served to be a place of nostalgia for older ones.
Featured Image: Google Maps
Over in TikTok, there’s a drama involving property agents that’s caused by us. Here’s what happened:
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