Mall rental hike cause exodus of shops… no worry good MP is stepping in to help, Kym?

[k1976]

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Singapore

One in five Northshore Plaza businesses shutter amid increased competition and higher rents​

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Singapore

One in five Northshore Plaza businesses shutter amid increased competition and higher rents​

Some lots at Northshore Plaza seen to be vacant on Apr 14, 2025. (Photo: CNA/Justin Ong)



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Justin Ong Guang-Xi
15 Apr 2025 06:00AM (Updated: 16 Apr 2025 10:09PM)
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Read a summary of this article on FAST.


FAST
SINGAPORE: Business at Northshore Plaza in Punggol town has been hit hard by rent hikes and competition from a newly opened mall nearby, according to tenants and residents.

This has led to the closure of several retail units at the shopping centre, located in Singapore's northeast and comprising two sections - Northshore Plaza 1 and 2 - connected by a bridge across Northshore Drive.

 

[k1976]

When CNA visited the mall on Monday (Apr 14), there were at least 10 retail spaces - out of about 50 in total - that were either vacant or in the process of being replaced by a new tenant.

A staff member at a dental clinic, who declined to be named, said that since she began working there from August 2024, she has seen at least six shops close down - including a Chinese herbal store, a pizzeria, a Japanese restaurant and hotpot chain Haidilao.

“There are fewer options for lunch now, and it’s very boring,” she said.

A lot at Northshore Plaza in the midst of being replaced by a new tenant. (Photo: CNA/Justin Ong)

 

[k1976]

A worker at food stall Super Wok - who also declined to be named - said business has dropped by about 30 per cent since the opening of Punggol Coast Mall last month, after Punggol Coast MRTstation opened in December.

“A lot of residents prefer to go to Punggol Coast Mall, and residents won’t walk past Northshore Plaza on the way to Punggol Coast MRT station,” he said in Mandarin.

He added that the newer, air-conditioned mall was a bigger draw than Northshore Plaza, which has an open-air concept.

 

[k1976]

An employee at ice cream chain Creamier said the drop in business was up to 15 per cent, with the opening of Punggol Coast Mall.

CNA observered that footfall at Northshore Plaza during lunch hour was sparse, and most food and beverage establishments had several vacant tables.

Most retail shops such as Decathlon and Nippon Home also appeared close to empty, with only a couple of customers milling about.

The food court at Northshore Plaza at 1pm. (Photo: CNA/Justin Ong)
The rise in rentals is another point of contention for tenants.

The Creamier staff member said that when Northshore Plaza first opened, early tenants were offered discounts on rentals, which gradually tapered off.

The mall opened in two phases - Northshore Plaza 1 in 2021 and Northshore Plaza 2 in 2022.

The exits of some tenants prompted Member of Parliament for Punggol Coast ward Janil Puthucheary to post a video on social media on Sunday, acknowledging that rents have gone up by 10 per cent for most shops.

 

[Hightech88]

Went there before. Absolute rubbish place with no proper stores to shop and waste of space. Tried one Japanese restaurant (large one, can't rem its name), ordered salmon sashimi but they gave fake trout sashimi instead NBCB. I only go there for the Decathlon, else will avoid like a plague.

 

[True Believer]

Tenants must vote with their feet to leave the greedy landlord; let Northshore Plaza become a ghost mall.

 

[k1976]

Tenants must vote with their feet to leave the greedy landlord; let Northshore Plaza become a ghost mall.

Put Cherry vs 星爷?