Wednesday, January 18, 2012

Regional hubs' rents may top average levels

Straits Times: Tue, Jan 17
MALLS and shops in government-designated regional hubs could bring in above-average rents, but they will still likely lag behind that of established centres like Tampines and Bishan, said analysts.


R'ST Research said average suburban retail rents based on total mall net lettable area were $12 per sq ft (psf) to $15 psf a month as of the end of last year.


While it is hard to pinpoint how much more malls in the new commercial hubs can achieve, the consultancy believes rejuvenation development in Jurong East and Paya Lebar could drive rents up to and beyond that $15 psf level...

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