Far East Plaza Rental Rate
 

Hi There,

Does anyone know the rental rate at Far East Plaza?

I am very interested with either level 3 or level 1.

Thanks

Re: Far East Plaza Rental Rate
 

its between $6k - $8k. Im looking for people to share a shop space at far east plaza too.

Re: Far East Plaza Rental Rate
 

Is the traffic and purchase power really that good at Far East Plaza?

I have been monitoring it for the past 6-7 days. Most of them are just passing by without purchasing anything.

Re: Far East Plaza Rental Rate
 

it will depend on the product offerings and the traffic. That's why I intend to get a number of tenants to share shop space, so that risk is lower and product offerings have more variety. The shoppers are younger crowd and they like variety. And I will be the one taking the full lease, whereas tenants just need to commit maybe 6 mths.

Re: Far East Plaza Rental Rate
 

Oh... except for the lousy units tt's empty now, unless you talking abt level 3 and level4, my coming shop at Far East will be at LevelOne

Re: Far East Plaza Rental Rate
 

i enquired about a number of leasing, there are lvl 2, 3 and 4 and even basement available. also saw 1 in city hall that i might consider. but for me, i will need to get the tenants 1st :)

Re: Far East Plaza Rental Rate
 

what you have to offer? can let me know. thanks
i'm quite interested in a slot at FEP

Re: Far East Plaza Rental Rate
 

oh, im looking for tenants to share rental costs, so that each person will have lower rental = lower risk. and i will be the main tenant to bear the leasing period. i have sent u a pm, let me know if you are also interested in sharing.

Re: Far East Plaza Rental Rate
 

Hi thegifthaven,

I like your idea of you being the main tenant and others just simply lease a small space from your shop with a specific period, it is a win win situation for you and for others who are afraid of long term commitment.

So which location do you intend to be rooted and how are you going to allocate space and how long. I pretty much like your idea.

May be those who are interested, should meet up for coffee and discuss seriously on this idea.

Cheers
Jasmine

Re: Far East Plaza Rental Rate
 

The rental rate is fine. Have you guys checked on all other hidden fees?

1. 2 months deposit
2. 1 month advanced rental fee
3. stampduty - 10% of the 2 years rental fee, which comes around 2 months
4. take over fee (negotiable)
5. 1/2 month commission

total is around 6 months X your rental fee just to get the shop started.

Re: Far East Plaza Rental Rate
 

For your info, Far East Plaza units under Far East Organisaztion requires 3+1 rental meaning, 3 times rental deposit and 1 month advance. Subletting is not allowed in the tenancy agreement.
Rate: $35-$40 per sqft for good location.

In order to share you must 1st obtain landlord's agreement, also, you need to get a bigger unit in order to have enough to share.

Bigger units meaning Bigger start up capital.

Re: Far East Plaza Rental Rate
 

yeah, considered that into the plan. btw, how much did yr reno cost? I estimated ard $50k. Is it enough?

Re: Far East Plaza Rental Rate
 

My reno is cheap, if you need the lobang just pm me, you dun need 50K lah... around 20 is more than enough. I used to work in reno company.

Re: Far East Plaza Rental Rate
 

Perhaps doing it discreetly will be fine. For example, if your shop is selling fashion apparrel, I will make sure whatever things I wish to sell, it is related to fashion eg. handmake wallet, the landlord wouldn't know that it is subletting.

Re: Far East Plaza Rental Rate
 

Thanks, Jasmine, maybe let's meet up for coffee, say next Friday evening to discuss? See whether we can do something together. I'm currently looking at FEP, Heeren, City Hall. Those keen, please pm me. Thanks!

Re: Far East Plaza Rental Rate
 

try not to mess with the mcst lor. they can make ur life pretty difficult -_-" know of some f&b shops at level one having a hard time now

Re: Far East Plaza Rental Rate
 

The rental is pretty expensive and also far east customers tend to bargain a lot.
Is a good thing that you guys can do a market research 1st in order to go into far east. Base on my exp, level 1 usually has the most traffic but mainly for low price items.

Re: Far East Plaza Rental Rate
 

Tried out Far East Plaza in 2006, it was HORRIBLE. Made barely enough for the sky high rental and pathetic small space. My partner and i practically struggled to maintain our shop. Thank God for our part time jobs.
Managed to hold out for 6 months before we rented it out.
Customers were expecting prices from as low as $10 for a piece of sequin top!

Re: Far East Plaza Rental Rate
 

Got a biz man advised me when u want to calculate returns, u cannot calculate the rental over the nos. of days in the monthsl. Should be rent divide nos. of weekends n public holiday and how much takings those days to breakeven to make a profit or u end up losing money - does this make sense? What he meant is get your maths right before committing in a lease.

Re: Far East Plaza Rental Rate
 

i'm interested to share shop space.. pm me with more details. thanks.

Re: Far East Plaza Rental Rate
 

Hi! Sorry i might be a bit late now. just a quick check ,do you still have any space at Far East to rent now ? =)

PM me =)

Re: Far East Plaza Rental Rate
 

Hi,

PM me too thanks :)

Re: Far East Plaza Rental Rate
 

Hey wat r yr shop or concept selling? I am into wallets n some unique handmade accessories. How much to share n the space??

Re: Far East Plaza Rental Rate
 

Hi. Do you have available space to share? Im doin ladies t-shirts and fashion eyelashes. Thanks... Please PM me..

Re: Far East Plaza Rental Rate
 

Hi there,

are you still looking for people to share? let me know!