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Years ago, anticipating that redevelopment might eventually happen, Journey East commissioned a series of photographs documenting Tan Boon Liat Building.<\/span><\/p>\n “We knew that one day this building would be no more,” Ms Sam said.<\/span><\/p>\n Another long-time tenant, Japanese knife specialist Razorsharp, has not decided on its next steps and is in no rush to do so.<\/span><\/p>\n Its owner David Lim has operated the ground-floor store for more than 20 years.<\/span><\/p>\n “I am 71 years old, I’m not going to work until the day I die. And it’s going to cost a lot of money to restart – I may lose 40 to 50 per cent of my present business, so it can be challenging,” Mr Lim said.<\/span><\/p>\n “I’m waiting until D-Day, when I must vacate the place. I will stay until the last day.”\u00a0<\/span><\/p>\n Mr Mangla renovated his showroom just six months ago.<\/span><\/p>\n “I thought it wouldn’t go through,” he said, referring to previous collective sale attempts over the years.<\/span><\/p>\n “I thought there was nobody in the market to pay S$1 billion. Looks like I was wrong.”<\/span><\/p>\n Tan Boon Liat Building was first launched for sale in February 2025, at a reserve price of S$1.15 billion but did not attract a buyer, according to The Business Times.\u00a0<\/span><\/p>\n But Tuesday’s announcement turned speculation into a reality that businesses now have to prepare for, even those that have barely settled in.<\/span><\/p>\n Furniture retailer Cancan opened one showroom in the building less than a year ago before expanding into a second unit four months ago.<\/span><\/p>\n The company knew the collective sale remained a possibility but decided the location was still worth the risk.<\/span><\/p>\n “Change is constant for business,” said business development manager Jonathan Yung.<\/span><\/p>\n