How to rent a shop in SMRT bus interchanges?
In this informative guide, we will explore how to rent a shop in SMRT bus interchange, offering valuable insights for businesses aiming to establish a presence in these bustling hubs.
In recent times, the landscape of business events and roadshows has seen shifts. This article delves into the intricacies of leasing a shop at an SMRT bus interchange, providing a roadmap for entrepreneurs seeking prime locations to drive their enterprises forward.
While social gathering restrictions and fluctuating footfall have been part of the recent context, businesses are regaining momentum as conditions stabilize. SMRT bus interchanges, with their constant flow of commuters, offer a strategic location for leasing shops, fostering growth and enhancing visibility. However, before making a decision, it’s essential to delve into the specifics of this leasing process.
Leasing a shop at an SMRT bus interchange involves two primary avenues: the tender process or direct leasing. A thorough understanding of each approach is vital to make an informed decision.
What is the difference of leasing a space by tender vs. by direct leasing?
There are two ways for you to rent a shop in SMRT bus interchange. One way is by tender and another way is by direct leasing. Before you make a decision on which way to rent a shop, have a more thorough understanding of how each way works.
Firstly, SMRT will publish a tender notice at https://www.smrt.com.sg/Our-Business/Procurement/Tender-Notice. You can submit your company name, address, contact person’s name, phone and address to the SMRT Contact Person as listed in the Tender Notice. After that, you can wait for the reply from the SMRT Contact Person and expect an email from them. Most of the time they would send a link to the SMRT Ariba E-Sourcing Portal.
The next step to rent a shop in SMRT interchange, which you definitely cannot miss, is to prepare your tender proposal and submit it to SMRT Ariba E-Sourcing Portal before the tender closing date and time. Do note that SMRT does not accept hard copy and email submissions.
The other option is direct leasing, either from SMRT leasing team or with Ideal Connection. Indeed 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.
How to prepare the regulatory paperworks?
Once the submission process is complete, specific regulatory paperwork must be attended to. While this list isn’t exhaustive, it provides a glimpse of the necessary documents:
- 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 should prepare a Letter of Offer (LOO) or Booking Form, which is binding once signed.
What matters when you rent a shop in SMRT or other operator interchanges?
A Key Consideration: Regardless of whether you’re eyeing SMRT, SBS, Go Ahead or Tower Transit bus interchanges, location remains paramount. Scrutinize available spaces carefully before committing to a lease. Typically, selected tenderers have the privilege of inspecting potential spaces to assess their suitability.
Ideal Connection: Your Trusted Partner:
Ideal Connection, in partnership with SMRT, stands ready to facilitate your leasing journey. A plethora of spaces and shops await your selection, ensuring a seamless fit for your business needs. Our flexibility extends to lease durations, catering to both short-term and long-term arrangements.
Tailored Timing:
We acknowledge the significance of timing in your business strategies. Enjoy the freedom to choose available dates, aligning with festivals, special seasons, or marketing initiatives.
Simplified Processes:
Navigating the complexities of regulatory approvals, cleanliness protocols, layout planning, and more can be daunting. Allow Ideal Connection to guide you through these intricacies, leveraging our experience to streamline document procurement.
Renovation and Beyond:
Our expertise extends to renovation considerations, ensuring compliance with the unique requirements of bus interchanges and transport operators. Collaborate with contractors well-versed in these specialized spaces.
Unlock Bundle Benefits:
Consider a bundle deal to expand your reach. Leasing multiple spaces from us grants access to attractive rental terms and heightened visibility, ultimately boosting your sales potential.
Enhanced Financial Terms:
Our standard deposit requirement of 2 months contrasts favourably with the market practice of 6 months’ worth of rent, making your financial commitment more manageable.
Do feel free to contact our friendly Sales team today before the available spaces are gone!