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

[shittypore]

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?

For Capital land and Kepple land it works the other way round, their CEO and top notch Executive all earn by Millions, not 4getting Director's fees.

 

[Seee3]

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.

I have to agree with you on this. As long as there are people who are willing to pay the extras, the rents will not come down. My kids complaint that they are forced to pay for expensive lunches at the places where they work. I reminded them that their friends who migrated to oz pack their own lunches everyday and that silenced them.

 

[Kuailan]

My opinion is that malls need to be freed from the stranglehold of the various big real estate companies (e.g. Mapletree, Capitaland), because that is commercial feudalism.

Fully agree with you! These 2 MAFIA's Capitaland and Mapletree(JTC) are the Landlord Warlord!

They screw up all their supporters/anchor tenant like Metro!!

More to come!!

 

[JohnTan]

Fully agree with you! These 2 MAFIA's Capitaland and Mapletree(JTC) are the Landlord Warlord!

They screw up all their supporters/anchor tenant like Metro!!

More to come!!

Not many companies have the money to develop property. If not for Capitaland and Mapletree, a lot of land would still be lying around underdeveloped today. Thanks to the big developers, we now have a lot more jobs in retail and F&B after the land has been developed. Be grateful.

 

[kiwibird7]

Not many companies have the money to develop property. If not for Capitaland and Mapletree, a lot of land would still be lying around underdeveloped today. Thanks to the big developers, we now have a lot more jobs in retail and F&B after the land has been developed. Be grateful.

The problem is unrestrained GREED of the developers in sky high rentals. Therefore the all important role of a responsible govt to balance and control rentals the way runaway bubbles of property spiral out of control.

Some may say there is over-development resulting in TOO many malls and thence repetition of the same shops everywhere, with not enough shoppers to go around to keep the retailers in business to survive the high rentals. Boom and Bust cycles need to be better managed for everyone's good.

 

[JohnTan]

The problem is unrestrained GREED of the developers in sky high rentals. Therefore the all important role of a responsible govt to balance and control rentals the way runaway bubbles of property spiral out of control.

Some may say there is over-development resulting in TOO many malls and thence repetition of the same shops everywhere, with not enough shoppers to go around to keep the retailers in business to survive the high rentals. Boom and Bust cycles need to be better managed for everyone's good.

The problem is that sinkies like you fail to see the big picture.

Without the returns of higher rentals, no land developer would ever develop property or refurbish rundown buildings. That explains why most daft sinkies are bewildered by rental increments each time a coffee shop or hawker centre undergoes renovations.

And if there are not enough shoppers to support the current number of malls, doesn't that tell you that you should embrace the 6.9M population proposal put forth in Parliament? Look at all the malls, mrt and new industrial areas sprouting up around you. You think 4 million sinkies alone can sustain it? We need more tourists, more S-Pass and E-Pass purchasing power people to support all these new assets.

 

[laksaboy]

Some may say there is over-development resulting in TOO many malls and thence repetition of the same shops everywhere

Ah, but that creates business opportunities for the PAP-linked cronies e.g. Breadtalk, Sakae Sushi.

with not enough shoppers to go around to keep the retailers in business to survive the high rentals.

And that's why the Population White Paper, talks of building underground cities etc.