Mall Rental Rates Rebound Post COVID-19
May 29, 2022
We have seen retailers cutting losses and shutting down stores as the rental rates in malls and various commercial places rebound to higher rates than pre-COVID.
Pushed Out After 30 Years In Business
From TODAY’s article, we learn about small eatery owner Anthony Lim deciding to call it quits after 30 years of running his store after his landlord wanted to increase his monthly rent from S$3,000 to S$9,500.
The challenge for Anthony was that he was leasing from a private landlord in Lucky Plaza as Lucky Plaza is a strata-titled development.
10% To 30% Increase In Rental
Relocation and renegotiations are the norms for the past few months in the industry as malls see a rebound of customers heading back into the malls to bring about an end to the deserted malls.
From our experience in the market, we believe that the heartland malls will be staying ahead of the curve for the time being while locations in town may not rebound until tourists are back in droves.
Increased Demand In Mall Spaces
With rent ‘expected to climb’ and owners looking to move, we are busier than ever, especially with an increase in queries from new startups, the demand for kiosks has been extremely high due to a lower entry quantum in terms of investment.
And so, we consolidated two sample spaces for your reference below.
Sample Spaces For You:
Approx. 200 Sqft (Size varies)
Sample Kiosk Space!*
Near Punggol MRT
Estimated Investment
From S$80,000* onwards
Initial Deposit Payable
6 + 1 months
Approx. 500 Sqft (Size varies)
Sample Kiosk Space!*
Heart of Woodlands
Estimated Investment
From S$200,000* onwards
Initial Deposit Payable
3 + 1 months
*Note: This is a sample space with an estimated investment amount stated. Sizes vary according to proposed unit and location in the mall. Ask us how we could secure a space for you.
Have A Different Space In Mind?
Do you have any other requirements in mind? Do you have a detailed business profile proposal? Can your concept qualify for malls? Are you familiar with the 11 steps to get your business into malls? Ask us on what it takes to get into Malls!
Help us know your requirements better so that we can serve you better:
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