Pushcart Rental Rates Summary March 2009

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Dear members

Below is the summary of the pushcart rental rates survey conducted in March 2009.

Rental rates for pushcarts in Singapore saw mixed performance during the 6 months since the last survey conducted in Sep 2008. Some changes in rental rates were due to siting of new pushcarts in new locations within the malls or the decommissioning of existing pushcarts from certain floors.

Of the 61 shopping malls surveyed, the following pushcart locations saw increases in rental rates:

• Far East Plaza
• HDB Hub Toa Payoh
• Parkway Parade
• Whitesands

The following pushcart locations saw downward adjustments in rental rates:

• Ang Mo Kio (AMK) Hub
• Chevron House
• Lot One Shoppers' Mall
• UE Square
• West Mall

Overall, rental rates remain largely in the range of $2,000 to $4,000 per month.

The following shopping malls did not make any adjustments to pushcart rental rates in the past 6 months:

• Amara Hotel
• Bugis Junction
• Bukit Panjang Plaza
• Cathay Cineleisure
• Cathay, The
• Causeway Point
• Centrepoint
• Century Square
• China Square Central
• Civic Centre (Woodlands)
• Compass Point
• Eastpoint Mall
• Far East Square
• Forum The Shopping Mall
• Funan DigitaLife Mall
• Great World City
• HarbourFront Centre
• Hougang Mall
• IMM
• Junction 8
• Jurong Entertainment Centre
• Jurong Point
• MDIS
• Northpoint
• Novena Square (Velocity)
• Park Mall
• Plaza Singapura
• Raffles City Shopping Centre
• Raffles Xchange
• Rivervale Mall
• Shaw Plaza (Balestier)
• Sun Plaza
• Suntec City Mall
• Tampines Mall
• Tanglin Mall
• Thomson Plaza
• Tiong Bahru Plaza
• Vivocity
• Wisma Atria

The following shopping malls were added to the list during the course of the survey:

• Central, The
• Chinatown Point
• Choa Chu Kang Bus Interchange
• E!Hub @ Downtown East
• Liang Court
• Leisure Park Kallang
• PoMo (formerly Paradiz Centre)
• Sembawang Shopping Centre
• United Square

It is noteworthy that in our previous survey, there were no instances of downward rate adjustments at all. While this may be an indication of the softening of the demand for pushcart retail space, we do not see pushcart space rentals declining by the same margin as prime retail shop space. Demand will continue to be sustained by retailers downgrading from smaller shop space and by emerging retail entrepeneurs looking for short term space to test the market.

Specifically, we expect pushcart rental rates at prime retail locations to hold steady in the next 6 months.

For detailed rental rates, please see Pushcart Locations listing.

Regards
Pushcart Forum .SG

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