\n<\/p>\n
Shopowners said the vacant units may be difficult to fill even if SMRT tried, given the additional costs and requirements involved.<\/p>\n
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 \u2013 despite SMRT granting a two-month rental waiver.<\/p>\n
Tenants are also required to restore units to their original condition when vacating, adding to the financial burden.<\/p>\n
The stricter setup and reinstatement requirements, coupled with uncertainty over lease duration, make the units difficult to market, Mr Ng said.<\/p>\n
Stellar Lifestyle said that the lack of tenants is further compounded by the ageing infrastructure at Tanjong Pagar station.<\/p>\n
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.<\/p>\n
\u201cGiven the limited tenure available, both operators and the landlord face challenges in justifying the scale of investment required,\u201d said Stellar Lifestyle.<\/p>\n
Despite these constraints, Stellar Lifestyle said it has continued efforts to keep the retail spaces active and viable through various means, such as:<\/p>\n
Stellar Lifestyle added that the challenges faced at Tanjong Pagar are not unique. For instance, retail spaces at Raffles Place MRT station faced similar post-COVID challenges, but occupancy has since recovered to about 97 per cent.<\/p>\n
When CNA visited retail spaces at other MRT stations in central areas, they did not appear to face the same issues as Tanjong Pagar.<\/p>\n
At Orchard station, the retail space on basement 1 was mostly occupied by arcade chain Timezone. There was at least one vacancy among the remaining units, which comprised F&B and wellness businesses.<\/p>\n
At Raffles Place station, the retail space in the basement had no visible vacancies, with a mix of F&B, fashion and pharmaceutical businesses. It has multiple entrances and exits to other nearby malls, and saw sizable footfall.<\/p>\n
At Dhoby Ghaut station, the basement 1 retail space also had no noticeable vacancies, with F&B businesses and a co-working space amongst the tenants.\u00a0<\/p>\n
A more secluded corner of the premises, closer to the North East Line, was also tenanted by two dance studios.<\/p>\n
“The mezzanine layout at Tanjong Pagar presents additional structural limitations that make revitalisation more challenging,” said Stellar Lifestyle.<\/span><\/p>\n \u201cStellar Lifestyle will continue working with tenants, partners and relevant agencies to keep these spaces active, while recognising that longer-term solutions will depend on the broader regulatory and licensing framework governing the rail network.”<\/p>\n<\/div>\n