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Donald Han, CEO of Sabana REIT, whose office is located at New Tech Park on Lorong Chuan and is known to have take lunch in the F&B outlets of the mall for lifestyle NTP+. This can also be where he has fun with visitors and business colleagues. “We must support those who are tenants of ours,” he says. “I advise all my employees to follow the same principle.”
Sabana REIT’s annual meeting in the month of March was held in the auditorium at New Tech Park, with catering provided by NTP+, the F&B tenant from NTP+. “We have to help this ecosystem” declares Han.
In the weekends, the auditorium is the location for the church congregation at Hope Church.
NTP+ in New Tech Park in Lorong Chuan opened in mid-2021. The two-storey mall is home to 43,000 sq feet of gross floor space and is nearly fully leased. “However unlike warehouses used for industrial purposes shopping mall, retail spaces need to be updated,” says Han.
Two new tenants moved in this month. Restaurant family Fish & Co took over the space that was previously used by the Social Alley cafe. The chef’s Noodle Bar took over the space previously occupied from Yam’s Signature Chinese restaurant, which closed at the end of March.
An extremely popular place for students at nearby high schools is Novo Acai & Granola. But it was closed this month. A German Kebab shop that has a fresh takeaway concept is expected to open soon and will be taking off its time.
Two other kiosks remain vacant since December. “We have received a rising number of inquiries for a restaurant space in NTP+” states Han. “We are looking at the possibility of converting those F&B food kiosks to restaurants with seats for dine-in dining.”
In contrast, Han notes that such conversions require approval by the regulatory authorities and tenants must get permits to make structural or for ventilation changes.
Prior to the opening of the NTP+ mall, the space was a blank with a driveway ramp leading to 2nd floor says Han. There was a waterfall with a view of Lorong Chuan and limited F&B facilities: there was a Coffee Bean outlet in front and a restaurant located at the rear. The commercial extension of two stories and enhancement of assets at New Tech Park came with an additional floor space. It’s currently a beautiful, well-groomed deck that is available to tenants as well as the public. It was selected for the Singapore Landscape Awards in 2022 Han says. Han.
“Retail as well as F&B are key components of New Tech Park, our most coveted jewel,” he adds. A six-story industrial building that includes an extension of two stories for retail (the NTP+ mall), New Tech Park has an overall gross floor area of 866,140 square feet. It is the most valuable asset of the 18 buildings within the portfolio of Sabana REIT. It was valued at $362.7 million at December 31, 2022. New Tech Park accounts for 41% of the total portfolio worth.
It has 25 stores and F&B units on the lower level of NTP+, and a food court located on the second level. Around two-thirds of the area is used by F&B tenants, and the remaining third occupied is occupied by retail tenants, such as Ace Signature supermarket, Anytime Fitness gym as well as Tree Art, an art school.
Wine Connection opened a retail restaurant concept and shop at NTP+ in the past two years. Dutch Colony coffee bar and cafe opened about an year ago. Indonesian fast food restaurant D’Penyetz was launched at NTP+ in the year 2000. It now has 13 outlets throughout Singapore.
The main tenant that occupies about a third of the space at NTP+ is SF Group that has opened five F&B outlets in the area in the past two years: the iconic Collin’s eatery, Kopi Clan cafe, Saveur Thai restaurant as well as Clan 7 Chinese restaurant, and Foodies’ Clan food court. “NTP+ was the springboard for SF Group to create a multi-concept F&B destination, and to experiment with ideas that it might introduce in other locations,” notes Han.
Ace Signature supermarket opened its first outlet at NTP+. The store has since opened stores in Woodlands Square, Serangoon North Avenue 2 as well as an open-later supermarket at Liv@Changi, located on Upper Changi Road.
Condos located near NTPand includes those in the 452-unit Chuan Park, the 390-unit Goldenhill Park, the 372-unit The Springbloom and the 500-unit Chiltern Park. Private housing estates in the vicinity include Mei Huan Drive, Tai Hwan Park, Golden Hill Estate and Serangoon Garden. Schools within the area comprise Australian International School, St Gabriel’s Primary School as well as Nanyang Junior College.
“Besides the tenants of New Tech Park, NTP+ serves the community as well -residents of the area as well as the students community,” says Han. “The best time to be there is 4pm on weekdays when students start visiting, mostly coming from The Australian International School. Most of the time, between 2pm and five pm on weekdays are the most quiet period for malls in general. However, a few tenants are offering promotions to draw students.”
The retail industry is experiencing “a challenging period” this year, due to the increased GST starting to take effect and the end of the Covid-related government support programs. “Since the beginning in the new year labor and material expenses have been rising,” notes Han.
He is however confident that potential clients would “recognise the opportunities NTP+ mall can offer their business”.
NTP+ mall: the starting point for SF Group’s newest brands
In 2021’s middle, SF Group opened its first multi-concept restaurant and food establishment offering five distinct options in the upcoming life-style mall NTP+ on Lorong Chuan. Four of the five restaurants are located on the ground level of the mall: Collin’s, Kopi Clan cafe, Saveur Thai restaurant and Clan 7 Chinese restaurant. Fiveth is the food court Foodies’ Clan, located on the second floor. Foodies’ Clan has nine food stalls, and 200 seats.
As per Jonathan Lim, chief development officer of SF Group, the five F&B outlets occupy approximately one-third of the gross floor space of 43,000 sq feet on NTP+. It is the main tenant for the two-storey mall which is that is the part of New Tech Park industrial building.
SF Group has rolled out three new to market F&B concept at NTP+ Clan7 Chinese eatery, Kopi Clan cafe and Foodies Clan’s food court.
Lim states the Saveur Thai had operated as an stall selling food within Food Loft. Food Loft coffee shops until it was able to open the initial “full-fledged eatery” in NTP+.
“Before we move into an area that is new we conduct an feasibility study,” says Lim. “Even even though the majority of people were working at their homes in Covid, NTP+ still received traffic from residents of the neighboring private condominiums as well as the Serangoon Gardens housing estate and the nearby schools.”
As most of the people are back to work, the lunch crowd is back Lim says. Lim. “Business is stable at NTP+ has stabilised.”
Lunchtime on weekdays can be the most popular because it caters for “the working class” which includes mainly those who work on New Tech Park, says Edmund Ng, COO of SF Group.
Teachers and students from close by Australian International School, Nanyang Junior College and St Gabriel’s Primary School also frequent the F&B outlets in the afternoons.
“The Australian International School students arrive between 3pm until 4pm,” says Ng. “Parents are welcome to stop in for a coffee or lunch before dropping their children off at St Gabriel’s Primary School. In other instances you might see parents taking the children to St Gabriel’s Primary School for a meal after school. Or, you may see volunteers picking up the children after school and taking them to the supermarket to buy food for at home.”
SF Group was co-founded in 2011 by the executive chair Alex Chia and executive director Michelle Leow. In the decade prior, Chia and Leow co-founded the Food Loft coffee shop chain which was the foundation of the F&B group.
Another important element that is a key pillar of SF Group is Collin Ho. Ho first launched his own name-brand Collin’s Western cuisine as a solo owner of the Food Loft coffee shop in Geylang prior to expanding it in conjunction with Food Loft chain. Ho was one of the co-founders of SF Group as executive chef and CEO in 2012.
Even though Collin’s as well as Food Loft remain signature brands within the SF portfolio, the company currently has at minimum fifteen F&B brands. “These are all ideas created in-house by our chefs as well as culinary experts based on the market opportunities,” says Lim.
The company employs more than 901 employees, with the majority being operational personnel. The SF Group’s headquarters in the New Tech Park industrial building is home to the majority of support staff, says Lim.
Since launching five distinct F&B concept at NTPplus in the past two years, SF Group has opened two new restaurants in the newly renovated Shaw Plaza on Balestier Road in March: Collin’s and Japanese restaurant Ontama Don.
Alongside Shaw Plaza, the group has also expanded by opening Collin’s restaurants in the recently inaugurated Sengkang Grand Mall and Woodleigh Mall. The next month, Collin’s will open at the brand new Bird Park in Mandai.
SF Group now operates the Grab canteen, Makan@Grab located in its headquarters on the north as well as the staff canteen in Changi Terminal 2 as a Foodies’ Clan food court and an FoodLoft @ Space located at Tampines which is which is a B2 industrial structure. SF Group opened its biggest food court, Foodies’ Garden, located at Hougang Mall in the year 2000.
“The Singapore market is small and easy to get saturated,” Lim observes. “Having many brands available is crucial for gaining market share in the sector.”
