Golden Shoe Car Park building expected to start redevelopment by August 2017

CapitaLand Commercial Trust is mulling over capital recycling to fund the project.

CCT Management positively expects to commence redevelopment of the Golden Shoe Car Park (GSCP) by Aug 2017 subject to authority approvals, according to RHB.

"We expect a JV structure with CapitaLand and Mitsubishi Asia (similar to the Market Street Car Park redevelopment) to avoid high capital outlay and mitigate development risks," RHB said.

On funding, management is currently exploring capital recycling options.CapitaLand Commercial Trust (CCT) has appointed Cushman & Wakefield to conduct an Expression of Interest (EOI) exercise for sale of Wilkie Edge, which would close today. 

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