Wheelock Place Renamed Landmark Orchard Following $1.1 Billion Acquisition

SINGAPORE – Wheelock Place, a prominent building on Orchard Road, has officially been renamed Landmark Orchard as of November 12, following its acquisition by Hongkong Land for approximately $1.1 billion. This marks the first instance of Hongkong Land utilizing the 'Landmark' name outside of Hong Kong, a significant branding move for the property group.

The acquisition was finalized three months after Hongkong Land’s Singapore Central Private Real Estate Fund purchased the property from an entity owned by Wharf Real Estate Investment Company. The fund, which launched in February, aims to expand its portfolio in Singapore, particularly targeting high-value assets in prime locations. The purchase of Landmark Orchard is part of this strategy.

Landmark Orchard, which has been a fixture of Orchard Road for over 30 years, comprises 21 storeys of office and retail space and is conveniently linked to the Orchard MRT station, enhancing its accessibility. Existing tenants will continue to operate under the new name, ensuring a smooth transition for both businesses and customers.

“We will bring our long-term approach to investing in our properties to Landmark Orchard.”Foo Pei Teng, Chief Executive, Singapore Central Private Real Estate Fund

Hongkong Land has indicated plans to improve the property, although specific details regarding these enhancements have yet to be disclosed. The company is known for its long-term investment approach, a strategy that Foo Pei Teng, chief executive of the Singapore fund, emphasized would be applied to Landmark Orchard.

This acquisition not only signifies Hongkong Land's commitment to expanding its footprint in Singapore but also reflects its broader strategy of enhancing its portfolio, which includes notable properties in the Central Business District such as Asia Square Tower and Marina Bay Financial Centre. The fund is targeting an ambitious $15 billion in assets under management, further solidifying its position in the competitive Singapore real estate market.