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Subscribe to this list via RSS Blog posts tagged in Retail rental

Slowing retail sales and fewer overseas visitors hit shop rents in the second quarter, said a real estate consultancy yesterday.

It noted that the amount of retail space vacated in the first three months of the year exceeded the amount leased out by 270,000 sq ft, a trend that had a flow-on effect on rents.

Orchard Road and Scotts Road were more hard hit, with an extra 80,000 sq ft of vacant space left after accounting for new tenants arriving. It was less severe in suburban areas, where an extra 20,000 sq ft was un-tenanted.

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Posted by on in Residential
The rental gap in retail space between the regional centres and Orchard Road continues to narrow with the malls in the regional centres gaining a firmer foothold in the retail property scene.

Average monthly gross rents of prime retail space in Orchard Road declined 0.9 per cent to $36.42 psf in Q2, while rents in the regional centres gained 0.1 per cent to $33.42 psf.
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Posted by on in Residential
PLAZA Singapura has taken on a new look and new tenants, now that it has expanded into the space between it and The Atrium@Orchard.

The $150 million, 21-month-long makeover fills up what used to be a gap between the two buildings, bringing Plaza Singapura's net lettable area to 629,000 square feet, up some 25 per cent.

Its owner CapitaMall Trust said the extension is projected to bring an additional net property income of $15.6 million when fully occupied.
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