Westgate
Strategically located in Jurong Gateway, within the Jurong Lake District, Westgate is a premier family and lifestyle mall in the west of Singapore. Directly connected to both Jurong East MRT station and bus interchange, Westgate is surrounded by a suite of amenities such as the Ng Teng Fong General Hospital. Offering a holistic and city lifestyle shopping experience with many popular brands, Westgate encompasses unique features such as The Courtyard, which is naturally ventilated, alfresco dining options and a thematic children’s playground.
PROPERTY INFORMATION
All information as at 31 December 2019 unless otherwise stated.
Address
3 Gateway Drive
Land Tenure
Leasehold tenure of 99 years with effect from 29 August 2011
Joint Venture Partners’ Interests
-
Number of Tenants
235
NLA (sq ft)
409,087
Year of Purchase
2011 (1)
2018 (2)
2018 (2)
Purchase Price / Agreed Property Value (S$ million)
2011: 227.5 (1)
2018: 789.6 (2)
2018: 789.6 (2)
Valuation as at 30 June 2020 (S$ million)
1,087.0
Carpark Lots
610
Bicycle Lots
10
Top 3 Tenants By Gross Rental Income
- BreadTalk Group Ltd
- L Catterton Singapore Pte Ltd
- Fitness First Singapore Pte Ltd
Awards
BCA Green Mark Platinum
Annual Shopper Traffic (million)
51.1
(
1
)
The integrated development site (land) was acquired in 2011 at S$969.0 million, of which S$758.3 million pertained to the retail component (CMT’s 30.00% interest at S$227.5 million).
(2)
The acquisition of the balance 70.00% of the units in Infinity Mall Trust which holds Westgate was completed on 1 November 2018, at an agreed property value of S$1,128.0 million, on a completed basis (70.00% interest at S$789.6 million).
