HARDER TO FILL THAN TYPICAL RETAIL UNITS
Shopowners said the vacant units may be difficult to fill even if SMRT tried, given the additional costs and requirements involved.
Because the units sit above a live railway line, tenants must install their own water piping and obtain extra regulatory approvals before opening. Mr Ng said this meant he spent roughly twice as much on renovations as he would have at a typical retail location, and setup still took more than three months – despite SMRT granting a two-month rental waiver.
Tenants are also required to restore units to their original condition when vacating, adding to the financial burden.
The stricter setup and reinstatement requirements, coupled with uncertainty over lease duration, make the units difficult to market, Mr Ng said.
Stellar Lifestyle said that the lack of tenants is further compounded by the ageing infrastructure at Tanjong Pagar station.
F&B operators form a significant proportion of potential tenants, but they will usually require substantial upgrades, such as increased electrical capacity and kitchen exhaust systems.
