Parking around MBFC wanted
- Thread starter mercuryz
- Start date
Vincent Ng
Well-Known Member
Re: Parking around MBFC wanted
I am also looking to get a lot in the area, but seriously it's near impossible unless you are willing to pay exorbitant prices (possibly gonna cost you about $450/mth). I am parking my car in Tanjong Pagar and taking a train down to raffles place :verysad:
I am also looking to get a lot in the area, but seriously it's near impossible unless you are willing to pay exorbitant prices (possibly gonna cost you about $450/mth). I am parking my car in Tanjong Pagar and taking a train down to raffles place :verysad:
Vincent Ng
Well-Known Member
Re: Parking around MBFC wanted
This article pretty much sums up our woes
04:46 AM Oct 13, 2011
by Conrad Raj
CapitaLand's Market Street Car Park office redevelopment has run into a few problems, including the Singapore motorist's nightmare - finding an empty car park lot.
South-east Asia's largest property company cannot get permission to build the number of parking lots that it thinks it needs for the 40-storey office block, which will have a net lettable area of 720,000 sq ft.
CapitaLand, which also has yet to obtain permission to top up the current lease of the site, wants to build only more than 350 car park lots on the site which currently houses a multi-storey car park with more than 700 lots.
To its disappointment, the Urban Redevelopment Authority appears to be sticking firm to the Land Transport Authority's 2002 policy of having developers provide only one parking lot for every 425 sq m of office space. Under this policy the URA will only authorise 177 lots to be offered by CapitaLand which is redeveloping the property in partnership with CapitaCommercial Trust and Mitsubishi Estate Asia.
Previously developers could provide two car park lots for every 425 sq m of office space.
Some feel that even the old car park allotment is not enough to cater to the needs of the 3,000 people who are expected to work in the new development.
The new ruling has already hit office buildings in the Marina Bay Financial Centre. For instance Standard Chartered Bank, which has rehoused some 4,000 of its staff at the centre, has been allotted only more than 100 car park lots. Citibank, which recently moved 2,000 of its 8,500 workers in Singapore to the nearby Asia Square, was given only more than 60 lots. In their previous office at Centennial Square next to Suntec City they could choose from more than 500 car park lots.
I find the policy at odds with developing Singapore into a world class financial centre. Yes, we will be better off with fewer cars on our streets. But unfortunately because of earlier liberal policies we now have more cars than Hong Kong does, congesting our roads.
Has the new policy resulted in less congestion in the Central Business District? It would appear not, with scores of cars often waiting bumper to bumper for empty lots to rush into. Isn't this a waste of costly fuel and precious time?
This is not the first attempt to ease the congestion in the CBD by restricting the number of car park lots. In the '70s, the authorities adopted a policy similar to the current one and, as a result, buildings like Shaw Chambers, Moscow Narodny Bank (now VTB) and several others along the Robinson Road stretch ended up with very few car park lots - just enough for several members of top management.
Then the authorities found, to their dismay, it was crimping Singapore's ambition to be a world class financial centre and the policy was relaxed, with the government building the Market Street Car Park and the Golden Shoe Car Park. So acute was the problem of car park lots then that many developers and landlords were said to have been willing to pitch in financial help to provide new car lots.
Now the authorities are once again reversing their stand and restricting the number of parking lots in the CBD.
Well, such a policy would be fine if we had a world class transport system already in place. Mr Lui Tuck Yew, the Minister for Transport, in an interview with the media promised a more "commuter-centric" transport system. Frankly it does not matter if it is commuter centric or vehicle-centric, what matters is a better transport system with a comfortable ride for everybody.
Moreover, the promise is some years away. In the meantime, motorists driving within the CBD will have to fume away looking for empty parking lots, even at ever increasing parking charges.
So will this policy help make Singapore an even more attractive financial centre? I and others have our doubts.
Many feel that the Government should only be concerned with legislating for the minimum number of car park lots to be provided for and not the maximum. The maximum should be left to the landlord or developer who will have to work out their own ways of maximising returns. After all, in theory office space provides better returns than car park lots.
Perhaps the officials concerned should experience the rush-hour crowds and the angst incurred in getting a cab at certain times in the CBD, especially around Raffles Place.
The transport problem should get better when the Downtown Extension of the Circle Line is completed. But that is still a few years away.
Why not let the developers have the final say in the number of car park lots to be provided? After all car park space can be converted back into commercial or office space when it is no longer required for the purpose, as has been or is being done in certain buildings like Raffles City in the CBD.
This article pretty much sums up our woes
04:46 AM Oct 13, 2011
by Conrad Raj
CapitaLand's Market Street Car Park office redevelopment has run into a few problems, including the Singapore motorist's nightmare - finding an empty car park lot.
South-east Asia's largest property company cannot get permission to build the number of parking lots that it thinks it needs for the 40-storey office block, which will have a net lettable area of 720,000 sq ft.
CapitaLand, which also has yet to obtain permission to top up the current lease of the site, wants to build only more than 350 car park lots on the site which currently houses a multi-storey car park with more than 700 lots.
To its disappointment, the Urban Redevelopment Authority appears to be sticking firm to the Land Transport Authority's 2002 policy of having developers provide only one parking lot for every 425 sq m of office space. Under this policy the URA will only authorise 177 lots to be offered by CapitaLand which is redeveloping the property in partnership with CapitaCommercial Trust and Mitsubishi Estate Asia.
Previously developers could provide two car park lots for every 425 sq m of office space.
Some feel that even the old car park allotment is not enough to cater to the needs of the 3,000 people who are expected to work in the new development.
The new ruling has already hit office buildings in the Marina Bay Financial Centre. For instance Standard Chartered Bank, which has rehoused some 4,000 of its staff at the centre, has been allotted only more than 100 car park lots. Citibank, which recently moved 2,000 of its 8,500 workers in Singapore to the nearby Asia Square, was given only more than 60 lots. In their previous office at Centennial Square next to Suntec City they could choose from more than 500 car park lots.
I find the policy at odds with developing Singapore into a world class financial centre. Yes, we will be better off with fewer cars on our streets. But unfortunately because of earlier liberal policies we now have more cars than Hong Kong does, congesting our roads.
Has the new policy resulted in less congestion in the Central Business District? It would appear not, with scores of cars often waiting bumper to bumper for empty lots to rush into. Isn't this a waste of costly fuel and precious time?
This is not the first attempt to ease the congestion in the CBD by restricting the number of car park lots. In the '70s, the authorities adopted a policy similar to the current one and, as a result, buildings like Shaw Chambers, Moscow Narodny Bank (now VTB) and several others along the Robinson Road stretch ended up with very few car park lots - just enough for several members of top management.
Then the authorities found, to their dismay, it was crimping Singapore's ambition to be a world class financial centre and the policy was relaxed, with the government building the Market Street Car Park and the Golden Shoe Car Park. So acute was the problem of car park lots then that many developers and landlords were said to have been willing to pitch in financial help to provide new car lots.
Now the authorities are once again reversing their stand and restricting the number of parking lots in the CBD.
Well, such a policy would be fine if we had a world class transport system already in place. Mr Lui Tuck Yew, the Minister for Transport, in an interview with the media promised a more "commuter-centric" transport system. Frankly it does not matter if it is commuter centric or vehicle-centric, what matters is a better transport system with a comfortable ride for everybody.
Moreover, the promise is some years away. In the meantime, motorists driving within the CBD will have to fume away looking for empty parking lots, even at ever increasing parking charges.
So will this policy help make Singapore an even more attractive financial centre? I and others have our doubts.
Many feel that the Government should only be concerned with legislating for the minimum number of car park lots to be provided for and not the maximum. The maximum should be left to the landlord or developer who will have to work out their own ways of maximising returns. After all, in theory office space provides better returns than car park lots.
Perhaps the officials concerned should experience the rush-hour crowds and the angst incurred in getting a cab at certain times in the CBD, especially around Raffles Place.
The transport problem should get better when the Downtown Extension of the Circle Line is completed. But that is still a few years away.
Why not let the developers have the final say in the number of car park lots to be provided? After all car park space can be converted back into commercial or office space when it is no longer required for the purpose, as has been or is being done in certain buildings like Raffles City in the CBD.
Centurion9990
Well-Known Member
Re: Parking around MBFC wanted
About there. I am paying almost $400 at OUB Centre... NB blood sucker!!!
About there. I am paying almost $400 at OUB Centre... NB blood sucker!!!
Re: Parking around MBFC wanted
Fierce but true... That's why now I'm taking public transport... :angry:
jaskin;692278 said:
Fierce but true... That's why now I'm taking public transport... :angry:
Vincent Ng
Well-Known Member
Re: Parking around MBFC wanted
Once MBFC and Asia Sq are fully up....it wouldn't be a question of how cheap or how expensive parking is. There is simply not enough parking space to go around, got money also cannot buy you a lot. If you are loaded...of course you can just buy an apartment and stroll to work like a boss :woowooo:
totoseow;692153 said:
Once MBFC and Asia Sq are fully up....it wouldn't be a question of how cheap or how expensive parking is. There is simply not enough parking space to go around, got money also cannot buy you a lot. If you are loaded...of course you can just buy an apartment and stroll to work like a boss :woowooo:
Vincent Ng
Well-Known Member
Re: Parking around MBFC wanted
Hey bro so you found parking already?
mercuryz;692689 said:
Hey bro so you found parking already?
Vincent Ng
Well-Known Member
Re: Parking around MBFC wanted
Good to know
My wifey works at harbourfront...so most likely me gonna try parking at the open air car park in harbourfront and take a train down
You are paying $300/month based on $900 per quarter ya? Far East Square has parking available for $265/month flat, you might want to consider that but it will be even further from where you are parking now
mercuryz;697450 said:In the end park at Capital Square, quite a walk away from MBFC but compromise on price and since my wife works around the corner, so far working out
300 per month
Good to know
My wifey works at harbourfront...so most likely me gonna try parking at the open air car park in harbourfront and take a train down
You are paying $300/month based on $900 per quarter ya? Far East Square has parking available for $265/month flat, you might want to consider that but it will be even further from where you are parking now
Last edited by a moderator:
DriveAllDay
Well-Known Member
Re: Parking around MBFC wanted
There is actually a temporary valet parking service at MBFC -- $10 a day.
Two things to note:
1. Open air carpark. So if you are anal about your car, you might not be comfortable letting your precious bake in the sun, and soak in the rain all day.
2. First come first serve. Come late and you have to find alternatives, which could be expensive.
There is actually a temporary valet parking service at MBFC -- $10 a day.
Two things to note:
1. Open air carpark. So if you are anal about your car, you might not be comfortable letting your precious bake in the sun, and soak in the rain all day.
2. First come first serve. Come late and you have to find alternatives, which could be expensive.
