Monday, January 23, 2012

New Twist in Turf City tenancy

Straits Times: Sat, Jan 21
A FESTERING dispute over an imminent change-over of master tenants at the Turf City mall has escalated all the way to the High Court.

The incoming master tenant SH Cogent Logistics has obtained an injunction to stop the departing master tenant from evicting sub-tenants.

The departing master tenant Singapore Agro Agricultural (SAA) has argued that it needs to hand back the site to the owners, the Singapore Land Authority (SLA), in a vacant condition.

SAA's lease ends on Feb 29 but it wants the tenants out by Jan 31 so it can clear the site before handing it back.

But Cogent says 80 per cent to 90 per cent of existing sub-tenants have signed a new three-year lease, so they should not have to move out...

To find out more, kindly join us at Real Estate Digest

Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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