Metro outlet at Compass Point to close down due to “challenging retail scene”

[zhihau]

I prefer voting out all the "high level" "IT workers" including the "Chief Technical Officer".

Can hang them by their balls?

 

[laksaboy]

Forget retail, use the power of the web to reach customers. Eg : Qoo10, Dealextreme, Amazon, etc

Now now... the ladies still need their fix of retail therapy from time to time... I heard it's therapeutic for them.


[video=youtube;e_1td9CMnks]https://www.youtube.com/watch?v=e_1td9CMnks[/video]


If you're observant enough you would have realized that most of the retail space in malls are catered specifically for women. Lingerie shop, hair salon, nail spa, cosmetics shop, shoe shop... you get the idea. The remaining retail space is split between F&B outlets, anchor tenants (banks, supermarts), and kids-oriented stuff (e.g. enrichment centre, Popular bookstore, kids fashion outlet).

 

[syed putra]

This is good news for mom and pop shops forced to shut by bigger retail brands.
Rents will fall.

 

[JohnTan]

Pay the retail employee at $15/hour, you will see more Singaporean applying.
First and foremost, the rental is always the killer.

That's a filthy lie! Typical of pro-opposition IB to push the blame strictly to high rents. If not for possible good returns from land development, who will build your shopping malls, invest in new MRT stations and other public infrastructure?

SINGAPORE — Shopping malls owned by Real Estate Investment Trusts (REITs) command higher rents compared with their single-owner peers because of their better locations and enhancement work rather than their ownership, a study by the Ministry of Trade and Industry (MTI) has found.

The study, released yesterday as part of the first-quarter Economic Survey of Singapore, showed that rents at REIT-owned malls are “not statistically different” from those of single-owner malls after controlling for factors such as location and asset enhancement initiatives (AEI). This runs contrary to the growing perception that rents at the former are rising at a faster pace.

“Furthermore, among the malls that are acquired by REITs, we find no evidence to indicate that the rents in these malls increased as a result of the acquisition,” said the report, which looked at rental data from 35 REIT-owned malls and 76 single-owner malls between 2000 and 2013.

http://www.todayonline.com/business/property/reits-have-no-effect-malls-rents-study

 

[mojito]

instead of bitching about the occupancy rate why dont the stupid mall owners lower the rent?are they begging for something to be done?open the floodgates wide?

Fret not. The invisible hand will ensure prices reflect demand and supply.

 

[mojito]

Can hang them by their balls?

That is not possible.

 

[halsey02]

That's a filthy lie! Typical of pro-opposition IB to push the blame strictly to high rents. If not for possible good returns from land development, who will build your shopping malls, invest in new MRT stations and other public infrastructure?

Must blame, can't shit in the morning, gets constipation, blame!, can't rise at night for a "performance"...Blame, for they like to get involve in people's life....when there is a downturn like the Asian Financial Crisis....soon, a GREEK TRAGEDY!...what's the use of these malls, sprouting all over the place?

If rental is not the case...you can go visit malls....the one, nearest me, have tenants, revolving as fast as a revolving door...here today, gone 6 moths down the road...the only permanent tenant is, NTUC Supermarket....I suggest that NTUC take over all the malls....no need, "bleeding" small retailers...

So...??? must blame...the PAP!!

 

[JohnTan]

Must blame, can't shit in the morning, gets constipation, blame!, can't rise at night for a "performance"...Blame, for they like to get involve in people's life....when there is a downturn like the Asian Financial Crisis....soon, a GREEK TRAGEDY!...what's the use of these malls, sprouting all over the place?

If rental is not the case...you can go visit malls....the one, nearest me, have tenants, revolving as fast as a revolving door...here today, gone 6 moths down the road...the only permanent tenant is, NTUC Supermarket....I suggest that NTUC take over all the malls....no need, "bleeding" small retailers...

So...??? must blame...the PAP!!

Higher rents reflect the asset enhancement of the property such as nearby MRT/LRT stations, bus interchanges and high human traffic through the area. If the rents are too high, tenants will leave and the mall will be abandoned. Then the rents must fall sufficiently to attract back new tenants. It's a free supply-demand issue.

 

[halsey02]

Higher rents reflect the asset enhancement of the property such as nearby MRT/LRT stations, bus interchanges and high human traffic through the area. If the rents are too high, tenants will leave and the mall will be abandoned. Then the rents must fall sufficiently to attract back new tenants. It's a free supply-demand issue.

Yes who on earth does not know, demand & supply, without studying Law??, as many of us does, remember, we are one one the most educated people on this earth...the ah pek in the coffee shop, knows that too...

The landlord demand more....the tenants supply...who in turn demand that the buyers pay more...the buyers, mostly heartlanders, will find that, their spending money, being reduced smaller, smaller & smaller....

Who is cause of the multiplier effect...the PAP...must blame!!...sic!

 

[iluvgst]

nothing to worry about excess mall space... pappy will flood the country with more foreigners after the next GE and fatten the coffers of the crony mall landlords

 

[HighVoltage]

Sky high rentals = Ghost town. Obi good!

 

[lifeafter41]

That's a filthy lie! Typical of pro-opposition IB to push the blame strictly to high rents. If not for possible good returns from land development, who will build your shopping malls, invest in new MRT stations and other public infrastructure?

Please lah, command higher rent means what, it means somebody has to pay for it. Ultimately the consumer, who kena squeeze, the retail employees.

REIT as I have always said, is just another layer of fees to be paid out, some ceo/vp/directors/managing agents, all highly paid, but it's the retail employee that is working the ground. Talk about leeching.....

 

[winnipegjets]

That's a filthy lie! Typical of pro-opposition IB to push the blame strictly to high rents. If not for possible good returns from land development, who will build your shopping malls, invest in new MRT stations and other public infrastructure?

Do we need that many shopping centres (this is sinkapore, we don't say 'mall')?
We got more than enough revenues to pay for infrastructre.

So, you are the liar!!!!!

 

[winnipegjets]

Higher rents reflect the asset enhancement of the property such as nearby MRT/LRT stations, bus interchanges and high human traffic through the area. If the rents are too high, tenants will leave and the mall will be abandoned. Then the rents must fall sufficiently to attract back new tenants. It's a free supply-demand issue.

Supply-demand bs ...government controls it all. High rent is caused by government manipulation of the market.
HDB flat ...cost $100k to build. Government confiscate land at a huge discount. Charge us 5X more!

 

[dancingshoes]

they haven't officially announced that we are in recession but i think one leg is in already.

 

[JohnTan]

Please lah, command higher rent means what, it means somebody has to pay for it. Ultimately the consumer, who kena squeeze, the retail employees.

REIT as I have always said, is just another layer of fees to be paid out, some ceo/vp/directors/managing agents, all highly paid, but it's the retail employee that is working the ground. Talk about leeching.....

If merchants raise their prices too much due to rents, customers are free to patronize other merchants. That would force merchants and landlords to lower their prices. Free market.

 

[xebay11]

If merchants raise their prices too much due to rents, customers are free to patronize other merchants. That would force merchants and landlords to lower their prices. Free market.

Ha ha that's why I have not bought anything in Singapore shopping centre in years, I only shop online or JB.

 

[rocket]

Ha ha that's why I have not bought anything in Singapore shopping centre in years, I only shop online or JB.

No money?? Go beg

 

[kiwibird7]

Run if you can

Due to the low pay and long working hours, Singapore retail employers are not able to hire Singaporeans. This contrasts greatly with the retail jobs in Sydney Australia, which is in high demand and very popular by even Australian citizens. Retail staffs are protected by the Minimum Wage law of a mandatory AUD$18.50 and a maximum working hours of 8 hour work shift over 5 days.

Manpower costs for retail staff is NOT the problem even if MINIMUM WAGES were legislated. The REAL KILLER for business failure is the RENTAL COSTS paid to the greedy landlords or coporations eg Capitaland, Keppel Land etc.

With Term Deposit rates in Singapore hovering near ZERO % per annum, why must the returns/yield from rentals be so high and still rising?

 

[frenchbriefs]

If merchants raise their prices too much due to rents, customers are free to patronize other merchants. That would force merchants and landlords to lower their prices. Free market.

theres no free market in singapore.in case u havent notice,all the malls are owned by the same companies.and all the shops within the malls are the same,its always the same retailers,giant,cold storage,the same few food court operators,sushi tei,ding tai feng,kfc,mcdonalds,uniqlo,cotton on,bread talk,takoyaki,burger king,candy empire,old chang kee,the cinema chains are the same,banks are the same,telecommunications retailers are the same,and half the shit u find in the shopping one way or another are owned by the government or a subsidiary of the government.all the shopping malls are the same from parkway parade to suntec city to bugis to plaza sing to hougang nex mall to harbour front to yishun mall to 1km mall.this whole goddam island is one big monopoly.