Tag Archives: Singapore Office / Retail

HDB spaces: No subletting rule observed in the breach

Posted on 5 Aug 2009 | Comments Off on HDB spaces: No subletting rule observed in the breach

THE Housing Board’s reply, ‘HDB shop corridor area cannot be sublet’ (July 21), stated that HDB corridor areas should not be sublet by shop owners to third parties.

This may be the rule, but in my experience, it is often breached.

We operate shops dealing in mobile phones in Clementi and Bedok Central. A 100 sq ft ‘hole in the wall’ in these locations costs up to $7,000 a month to rent.

However, there are many fly-by-night mobile phone operators who set up shop in the yellow boxes in these areas and pay about $2,000 a month to rent the space. In Bedok Central, town council officers periodically patrol the neighbourhood to check on illegal peddlers. However, enforcement of the rule has been inconsistent. Continue reading →

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Steepest fall in office occupancy cost here

Posted on 4 Aug 2009 | Comments Off on Steepest fall in office occupancy cost here

Some firms may expand as rents fall and the economy stabilises

A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year – down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

Colliers noted that monthly gross rents for Grade A offices in Singapore’s central business district (CBD) posted the sharpest fall in Q2, compared with other major cities in the region. Rents slid 26.2 per cent quarter-on-quarter, averaging at $6.73 psf per month in Q2. Continue reading →

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