Tuesday, March 20, 2012

URA cracks down on misuse of factory units

Straits Times: Tue, Mar 20
THE Government has wasted no time in tackling a thorny problem that had sprung up over the wrong type of tenants using factory space to get cheap rent.

The prompt action seems to have been set in train by a no-nonsense blog post by National Development Minister Khaw Boon Wan last week.

He suggested that sharp practice by developers and their marketing agents could be prompting unwitting investors to buy small industrial units thinking they would be easy to rent.

This belief was fuelled by the taking up of such space by tenants who were technically not meant to be there, and who have been bending the rules to get lower rent than would otherwise apply.

Earlier media reports cited examples such as tuition centres, retail outlets and even churches - adding that the higher demand could drive up rents too.

In response, the Urban Redevelopment Authority (URA) has made changes to ensure that buyers are not misled into buying industrial units without knowing the possible restrictions on their uses...

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Martin Koh/ Sherry Tang
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