For subscribers
Retailers and F&B operators face challenging days as landlords seek pre-pandemic level rent
Sign up now: Get ST's newsletters delivered to your inbox
Mr Kevin Ngan, who runs Good Luck restaurant in Haji Lane, saw his overall rental go up when he renewed the leases.
ST PHOTO: DESMOND WEE
Follow topic:
SINGAPORE - When Mr Kevin Ngan renewed his restaurant leases last year, one landlord cut rent by 10 per cent, while rent for the other two units jumped by up to 25 per cent.
Mr Ngan, who runs Good Luck restaurant in Haji Lane, leases three units from different landlords along the same stretch in Kampong Glam. Rent forms about 35 per cent to 40 per cent of his operating expenditure, he noted.
