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[TD="class: trow1, align: center"]just2share <!-- start: postbit_offline -->
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On Christmas Day, Japanese-inspired cake shop Kki served its delicate mousse cakes for the last time at its Ann Siang Hill location.
The owners started packing up the shop, a go-to place for fine desserts and quirky knick-knacks, on Boxing Day. It had opened four years ago, together with its co-tenant, indie retail shop The Little Drom Store, in a ground level shop space along the pedestrian-only part of the street.
So, why move out when business is good? Rental there is set to increase by about 140 per cent.
Kki's co-owner Delphine Liau, 36, says the landlord wants to up the rent on the 990 sq ft shop space from $6,300 a month to $15,000 a month. The owners have decided not to renew the lease, which ends on Tuesday. Ms Liau's husband and Kki's co-owner Kenneth Seah, 41, adds: "It is becoming harder and harder to run a business when rentals increase by such sharp amounts."
He and his wife, and the owners of The Little Drom Store, are looking for new premises to set up shop.
In a booming restaurant scene, rising rents have led to some restaurants closing shop and others to move from established locations. Other factors include the perennial manpower shortages, and reasons ranging from poor business to wanting to focus on family.
Figures from the Accounting and Corporate Regulatory Authority show that 575 restaurants were set up between January and November this year. This translates to about 52 restaurant openings a month.
During the same 11-month period, a total of 435 restaurants closed, equating to a nett increase of 140 restaurants, more than double the increase in 2011, when the figure was 59.
Last year, there was a nett increase of 149 restaurants from January to December.
Restaurants that have closed this year include Wok & Barrel in Duxton Hill, Le Saint Julien at The Fullerton Waterboat House, Oversea Restaurant at Shaw Towers, Preparazzi in Boon Tat Street, The Big Sheila in Swan Lake Avenue and Foodbar Dada at Robertson Quay.
Those slated to close in the coming months include Graze at Rochester Park, Bomba and Kha in Martin Road by next month, and One On The Bund and Au Jardin.
full story:
http://www.soshiok.com/print/content/rentals-businesses-out
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[TD="class: trow1, align: center"]just2share <!-- start: postbit_offline -->
Senior Member
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<!-- end: postbit_avatar --><!-- start: postbit_author_user -->Posts: 751 <!-- start: postbit_reputation -->
Reputation: 8 <!-- end: postbit_reputation --><!-- end: postbit_author_user -->[/TD]
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On Christmas Day, Japanese-inspired cake shop Kki served its delicate mousse cakes for the last time at its Ann Siang Hill location.
The owners started packing up the shop, a go-to place for fine desserts and quirky knick-knacks, on Boxing Day. It had opened four years ago, together with its co-tenant, indie retail shop The Little Drom Store, in a ground level shop space along the pedestrian-only part of the street.
So, why move out when business is good? Rental there is set to increase by about 140 per cent.
Kki's co-owner Delphine Liau, 36, says the landlord wants to up the rent on the 990 sq ft shop space from $6,300 a month to $15,000 a month. The owners have decided not to renew the lease, which ends on Tuesday. Ms Liau's husband and Kki's co-owner Kenneth Seah, 41, adds: "It is becoming harder and harder to run a business when rentals increase by such sharp amounts."
He and his wife, and the owners of The Little Drom Store, are looking for new premises to set up shop.
In a booming restaurant scene, rising rents have led to some restaurants closing shop and others to move from established locations. Other factors include the perennial manpower shortages, and reasons ranging from poor business to wanting to focus on family.
Figures from the Accounting and Corporate Regulatory Authority show that 575 restaurants were set up between January and November this year. This translates to about 52 restaurant openings a month.
During the same 11-month period, a total of 435 restaurants closed, equating to a nett increase of 140 restaurants, more than double the increase in 2011, when the figure was 59.
Last year, there was a nett increase of 149 restaurants from January to December.
Restaurants that have closed this year include Wok & Barrel in Duxton Hill, Le Saint Julien at The Fullerton Waterboat House, Oversea Restaurant at Shaw Towers, Preparazzi in Boon Tat Street, The Big Sheila in Swan Lake Avenue and Foodbar Dada at Robertson Quay.
Those slated to close in the coming months include Graze at Rochester Park, Bomba and Kha in Martin Road by next month, and One On The Bund and Au Jardin.
full story:
http://www.soshiok.com/print/content/rentals-businesses-out
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