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Orchard - Suburban Retail Rental Gap to Widen AgainThis is a thread in the Retailing Today forums.May 27, 2011 CommericalGuru.com.sg The rental gap between retail spaces in suburban malls and Orchard Road is set to widen ... |
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03-06-2011, 11:47 AM
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Orchard - Suburban Retail Rental Gap to Widen Again
May 27, 2011
CommericalGuru.com.sg The rental gap between retail spaces in suburban malls and Orchard Road is set to widen again, after narrowing in recent months, according to a Straits Times article. It highlighted that most retail space due to open this year will be located in suburban areas. Malls such as Changi City Point, JCube, Junction 10, Alexandra Retail Centre and 112 Katong will add approximately 756,400 sq ft in net lettable area. Meanwhile, only the Scotts Square development is expected to open in Orchard Road this year. According to Savills Research, the limited new supply of Orchard Road retail space and the strong influx of tourist arrivals will likely push rents up in the premier district, and the increase in supply of suburban space could have an opposite effect on malls in the area. This means that the rental gap between suburban malls and Orchard Road retail malls is expected to widen again. |
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