Thursday, November 20, 2014

Rent at Paya Lebar Mall

Rental at Paya Lebar New Mall

Have a friend who is running a small business over there. Heard that rental is about 5plus k/month. And that have to pay 3 months deposit plus current month's rental upfront, every month.

They were initially asked to sign a director's personal liability letter with a 2 month rent deposit but eventually they negotiated to have a 3rd month additional rental deposit and to waive the liability letter.

The rent has 2 structures and they pay whichever is higher.
1. The fix monthly rental of about 5k plus a small commission of all sales (yes the point of sales system is linked to the mall)
2. 12% of the revenue of the shop

Sales has been brisk so far as the mall had just opened. I wish them all the best in this venture!

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