How to Rent a Shop in SMRT Bus Interchanges?

Thinking of setting up shop where the crowds are? In this guide, we will show you exactly how to rent a shop in SMRT bus interchanges, with practical tips for businesses that want to be right in the middle of these bustling hubs.

Why bother? Simple: footfall. Based on the latest LTA figures, close to 4 million passenger trips are made by public bus in Singapore every single day, and many of them pass through a bus interchange. For a small business, that is a constant stream of potential customers walking past your shopfront from morning to night. That is why a prime location like an interchange can really drive your business forward.

SMRT bus interchanges, and also SBS Transit ones (rental guide here), offer a strategic spot for leasing shops thanks to their constant flow of commuters. But before you commit, it is important to understand how the leasing process actually works.

There are two main ways to rent a shop in SMRT bus interchanges: by tender, or by direct leasing. Let’s go through both.

What is the difference between leasing a space by tender vs. by direct leasing?

Option 1: By tender. SMRT publishes tender notices at https://www.smrt.com.sg/Our-Business/Procurement/Tender-Notice. You submit your company name, address, contact person’s name, phone number and address to the SMRT Contact Person listed in the Tender Notice. After that, wait for their reply — most of the time they will email you a link to the SMRT Ariba E-Sourcing Portal.

The next step, which you definitely cannot miss, is to prepare your tender proposal and submit it through the SMRT Ariba E-Sourcing Portal before the tender closing date and time. Take note: SMRT does not accept hard copy or email submissions.

Option 2: Direct leasing, either from the SMRT leasing team or through Ideal Connection. Ideal works collaboratively with SMRT to manage some of their retail and F&B shops. The regular lease period for direct leasing is usually one or two years, and the process is much simpler than a tender — good news if you are a first-time tenant.

How to prepare the regulatory paperwork?

Once the submission process is complete, there is some regulatory paperwork to settle. This list is not exhaustive, but here is what you should get ready:

• Merchandising Plan
• Price List of Merchandise
• Photocopy of Business Profile from the Registry of Companies and Businesses (ROC / ROB)
• Personal Income Tax Returns (for sole proprietor/partnership)
• Certified Annual Returns (for Public Listed / Pte Ltd Company)
• Comprehensive Business Proposal

After the bidding process, the landlord will prepare a Letter of Offer (LOO) or Booking Form, which is binding once signed. So read it carefully before you sign!

What matters when you rent a shop in SMRT or other operator interchanges?

One key consideration: regardless of whether you are eyeing SMRT, SBS, Go Ahead or Tower Transit bus interchanges, location remains paramount. Scrutinise the available spaces before committing to a lease. Typically, selected tenderers get to inspect potential spaces to assess their suitability — take this chance to observe the human traffic at different times of the day.

Ideal Connection: Your Trusted Partner

Ideal Connection, in partnership with SMRT, is ready to help with your leasing journey. Plenty of spaces and shops are available for selection, so there is a good fit for almost any business. We are also flexible on lease duration, catering to both short-term and long-term arrangements.

Tailored Timing:

We know timing matters for your business plans. You are free to choose available dates that align with festivals, special seasons, or your marketing campaigns — think Chinese New Year, Hari Raya, Deepavali, Christmas or the year-end school holidays.

Simplified Processes:

Regulatory approvals, cleanliness protocols, layout planning — all these can be daunting if it is your first time. Let Ideal Connection guide you through the paperwork and use our experience to make the process smooth.

Renovation and Beyond:

Our expertise extends to renovation matters too, making sure you comply with the unique requirements of bus interchanges and transport operators. We can also connect you with contractors who are familiar with these specialised spaces.

Unlock Bundle Benefits:

Consider a bundle deal to expand your reach. Leasing multiple spaces from us gets you attractive rental terms and more visibility, ultimately boosting your sales potential.

Enhanced Financial Terms:

Our standard deposit requirement of 2 months compares favourably with the market practice of 6 months’ worth of rent, so your upfront financial commitment is much more manageable.

5 lesser-known facts about shop rentals in SMRT bus interchanges

1. Unlikely Thriving Locations: Despite lower foot traffic compared to prime interchanges, some shops in smaller hubs do well thanks to targeted marketing and unique offerings. A Singapore Business Federation (SBF) study found examples like a bakery in an interchange attracting customers with freshly baked bread aromas wafting through the waiting area. (Source: Singapore Business Federation (SBF). (2023). Study on Retail Businesses in Public Transport Nodes.)

2. Tenant Diversity Beyond Expectations: Contrary to assumptions, the tenant mix goes beyond convenience stores and fast food chains. A Building and Construction Authority (BCA) report reveals a spectrum of businesses, from traditional retail to innovative tech-driven services, operating within these hubs. (Source: Building and Construction Authority (BCA). (2022). Commercial Building Stock Report.)

3. Green Preferences Driving Choices: Sustainability is becoming a deciding factor for shop selection. An NEA survey shows commuters are increasingly drawn to shops and services with eco-friendly practices, influencing tenant selection by interchange operators. (Source: National Environment Agency (NEA). (2023). Survey on Green Consumerism.)

4. Pop-Up Revolutionising the Landscape: The concept of short-term, flexible leases for pop-up shops is gaining traction. Insights from the Singapore Retailers Association (SRA) highlight how it lets businesses test the market and adds dynamism to the retail scene. (Source: Singapore Retailers Association (SRA). (2023). Retail Industry Insights.)

5. Commuter Insights Shaping Demand: Studies by JTC Corporation and URA indicate a steady rise in demand for retail spaces in transport nodes due to the strategic advantage of capturing commuter traffic and the diverse customer base. (Sources: JTC Corporation. (2022). Industrial Property Market Report.; Urban Redevelopment Authority (URA). (2022). Price Index for Retail Space.)

Do feel free to contact our friendly Sales team today to learn how to rent a shop in SMRT bus interchanges — before the available spaces are gone!