Commerce Center, 35 Storey : Chitlom

[Chad]

Name : Commerce Center (Tentative)
Location : Ploenchit Road, Front of Soi Somkid (Currectly Emerald Ground, Central Chitlom Carparking area)
Project Description : 35 Storey Office Tower
Expected Start : 3rd-4th Quarter of 2007

[Speed]

wow great....hopefully they integrate this new Commerce Center building with the new next door British embassy project buildings

also, just wondering why they Mercury Tower/Platinum Tower building just across the street seems to be emptying out?? All the restaurants on ground floor seem to have gone! (Fab Fashion Cafe, Park Avenue steaks, Auberge Dab French, Kan Japanese) and the offices seem empty....whats up dude?? seems like a great location...

[Chad]

Mercury tower is clearing it's space, making way for the new neighborhood shopping gallery, Siam Future Chitlom..

[cHemon]

It's so good to see something going to rise on the plot.

[pop]

Originally Posted by Chad

Mercury tower is clearing it's space, making way for the new neighborhood shopping gallery, Siam Future Chitlom..

โปรเจคต์สถานฑูตอังกฤษได้ข้อสรุปแล้วเหรอคับ ??

[Chad]

no.

But what I trying to say was that Siam Future has rented out the first 3 levels of Mercury tower for it's new retail mall.

[Speed]

oh good! I hope they get some cool shops there

[kiku99]

Originally Posted by Chad

no.

But what I trying to say was that Siam Future has rented out the first 3 levels of Mercury tower for it's new retail mall.

yeah this is great. Siam Future but somehow its stock isn't doing too well though

[Speed]

No word on Commerce Center Chidlom, BUT

yesterday I saw a big team of workers working on the first three floors of Mercury Tower....it looks like they are serious about a new lifestyle mall

New SIAM FUTURE lifestyle centers in 2007

Pattaya
Lifestyle center
22,517 sm

Ratchayothin
Lifestyle center
16,000 sm

Kaset Nawamin
Lifestyle center
21,000 sm

Mercury Tower
Lifestyle center
6,000 sm

RS Thonglor
Lifestyle center
6,000 sm

Already Existing Centers
9 Neighborhood centers (57K sm) (like Thungmahamek Tops Center)
4 Convenience centers (3K sm) (like Wanghin Lotus Express)
8 Auto centers (3K sm) (B-Quiks)
3 Lifestyle centers (30K sm) (like J Avenue Thonglor)
3 Power centers (66K sm) (like Ekkamai Power)
1 Urban center (43K sm) (that's the cool Esplanade!)

[Kaxper]

Originally Posted by kiku99

yeah this is great. Siam Future but somehow its stock isn't doing too well though

hmmm .... the stock is up 30% in one month ... and is only 15% from its all time high of baht 13/share that was reached in jun03 ... would say that stock is doing not too bad

[Speed]

any news?

[PADTHAI]

I heard they pulled out from Mercury project?

[Speed]

do u mean Siam Future pulling out of Mercury Tower ? yes, I heard that also, but some company is working super hard now on Mercury Tower podium (and on Unico House Lang Suan) plus Portico ocming up soon to replace Lumba Lumba...

[Speed]

any word on developments for this parking lot at the mouth of Soi Somkid (Ploenchit)? will it connect to next door Central ex-British Embassy? or stand alone?

[Speed]

now that the British ex-Embassy will be a hotel/retail zone....is this Central Chidlom (in the carpark area) project dead??

[annamaria4711]

Siam Futures to be based there ??? shame I thought and heard it was looking at the area just opposite The Park along the klong where all the warehouses are being knocked down...but then Gaysorn and partners seem to be looking at the land from all acounts.... Siam Futures would be good if it was based there....ohh well...can't have it all

[Speed]

is this the Central Chidlom parking area?

if so, there is an article in Bangkok Post today talking about sale of 3 rai parking lot at Central Chidlom....


Bangkok Post
Three sites top B1m per square wah
Published: 26/08/2009 at 12:00 AM
Newspaper section: Business
The market price of land in three locations - Siam Paragon, and the areas in front of the Chidlom and Phloen Chit BTS stations - is estimated at 1 million baht per square wah or 400 million baht a rai, according to the latest survey by the independent property consulting firm Agency for Real Estate Affairs (AREA).

AREA managing director Wason Kongchan said the price of the Siam Paragon plot was 82% higher than in 2005, while it had been estimated at 800,000 baht per square wah early this year.

The agency said a few small plots had sold at 1.2 million to 1.5 million baht per square wah, such as a three-rai parking lot at Central Chidlom, two rai of empty land next to Center Point Witthayu, and one rai of empty land next to the Sukhumvit MRT station.

"These plots are small and considered as exceptional. Therefore, the highest estimated market price as of mid-2009 still remains at 1 million baht per square wah," said Mr Wason.

The second most expensive land price is 850,000 baht per square wah in areas around the Bangkok Bank headquarters on Silom Road and the Ratchadamri BTS station because they are close to mass transit and could be developed as grade A office buildings.

He said the market prices of the two locations were lower than the highest prices because the return on investment for grade A office buildings is still lower than for retail spaces.

Silom used to command the highest market prices at 500,000 baht per square wah in 1994 when the agency started preparing its benchmark prices. At that time, there were no mass transit systems; the BTS opened in december 1999.

Ranked third at 800,000 baht per square wah were areas around Yaowarat Road, Wireless Road and Sathon and Narathiwas roads, close to BTS stations.

The cheapest prices in the capital area are Lam Luk Ka Klong 13 at 2,000 baht a square wah or 1 million baht a rai for a plot sized at four rai.

AREA projects that land prices in Greater Bangkok will increase by 3% this year over 2008 and by another 2% next year but forecasts may change if further economic problems emerge.

[The Lizzard King]

yes, its gone...I am not sure about the buyer or their plans for the site yet.

finally someone bought it...I hope it will complement the Central lands from both sides of it...

[Zimoune]

lofts of the info in tht articles are outdated