Facing. Facing the most important within the location factors. “Location Within A Location”. This means that even in the same shopping complex, shop units with a better facing generally command higher rentals after considering their unit size. A ground floor shop facing the road or the main concourse commands a higher rental than a shop facing a secondary corridor.
Escalators and lifts. The most important and common form and one which gives maximum exposure to shops is the escalator. The positioning and layout of the escalator is an important consideration. The ideal position is at a central location visible from all angles of the center.
Loading and unloading facilities. There must be loading bays as they facilitate movement of both incoming supplies and outgoing goods for retailers.
Population catchment area. For retail businesses requiring walk-in shoppers, it is crucial that the shop is located near population centers. For the main shopping belt along Orchard Road, the catchment area is the whole of Singapore.
Trade mix and anchor tenant. Trade mix refers to the myriad of retail trades operating in the shopping center. The key is to have a balance of trades that both complement each other, providing an interesting variety to attract shoppers. One element of a good trade mix is to have one or two strong anchors that help to draw the crowds to a shopping center.
Parking facilities. Friendliness and sufficiency of parking lots in a shopping center are important. Insufficient parking lots can turn shoppers away if too much time is spent on queuing for parking lots.
Public transportation. If shopping center is accessible by public transport such as MRT and/or public buses it will attract shoppers from further location.
Size of development. Large shopping center like Ngee Ann City, Raffles City, Suntec City tend to be able to hold on their own and attract shoppers to visit them. Unless it has a strong and unique theme, or enjoys some sort of monopolistic power, a small shopping center may not attract crowds, even though it may have one or two famous tenants.
What is property tax? Property Tax is a tax on properties in Singapore. These include HDB flats, houses, apartments, factories, shops, offices and land. The amount of Property Tax payable per year is computed based on a percentage (tax rate) of the Annual Value of the property.
How is annual value of the property calculated? Annual Value is the estimated annual rent the property can attain if it were leased out. The Chief Assessor will establish the Annual Value of the property by analysing leases of comparable properties and relevant data.
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