Shop Rentals
I just got a list of rough rental figures. First floor. Location in mall unknown.
Square 2 - 23 psf
Centrepoint - 16.2 psf
Orchard Central - 40 psf
Amara - 10.5 psf
Sun Plaza - 20 psf
Tampines Mall - 25 psf
Far East Plaza - 17 psf
Illuma - 20 psf
HarbourFront - 14 psf
Plaza Singapura - 25 psf
Somerset 313 - 50 psf
Ion Orchard - 60 psf
People's Park - 30 psf
Sembawang Shopping Centre - 25 psf
Scotts Square - unknown
Peninsula Shopping Centre - 8 psf
Very rough figures as I said. Surprisingly the suburban malls have a higher psf than the older malls in Orchard Road. Better traffic I suppose. As for the older Orchard Road malls, I guess Orchard Road is oversaturated? Hmm..
3 comments:
Very interseting figures. I often wonder what the rental figures are like across different malls.
Most of the malls you have listed out I am familiar with except the ones at the North. I say, it is roughly right. Peninsula is definitely the bottom of the list. I am a bit surprised by Centrepoint. Then again, that place has not many anchor stores.
Ion is going to be iconic ya?
I have always wondered too. I haven't called up UOL or Capitaland regarding the rates though.
I'm sure there are others like Bukit Timah Plaza, Beauty World and such that would be even cheaper in rates.
And also the higher levels of malls. These are first floor units.
I am surprised by Centrepoint too. Again, this is not gospel. Positioning, frontage, and such counts too.
Ion is opening before the end of the year apparently! It will be opened before the tower block! Iconic, yeah!
Did you read about the luxury retailer who is paying $54 psf at the Paragon in today's papers?
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