A new crop of restaurants and bars, headed by young F&B entrepreneurs, is changing the tenant mix at Fortune Centre. SINGAPORE – Think Fortune Centre – if you even do – and what comes to mind are the vegetarian restaurants, shops selling religious talismans, geomancy businesses as well as hair and beauty salons. The 20-storey building in Middle Road, developed by CDL in 1980, is next to Kwan Im Thong Hood Cho and Sri Krishna Bhagwan temples in Waterloo Street, and the place is popular with templegoers looking for Indian and Chinese vegetarian meals.
Yet, the tenant mix in the first four floors, dedicated to retail space, has been changing. It started with baby steps in the mid-2000s, when Nobu-Ya, an izakaya, opened there and attracted people looking for food and sake by two former employees – a chef and a sommelier – of an upscale Japanese restaurant. But the change in vibe has been more apparent in the last two to three years, with more Japanese izakaya and bars, including umeshu bar Ume San, opening there in 2023.
There are now even more young F&B owners seeking, well, fortune in the building. Built in 1980, Fortune Centre today offers more than just vegetarian food. ST PHOTO: GIN TAY They cite what they call the “manageable” rent.
From those who would reveal what they pay, it ranges from $9 to $14 per square foot. They like the constant footfall, especially on the first and second floors; the proximity to the city centre; and the easy access to and from Benc.