Metro to close Sengkang outlet after 12 years

Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall.

“On the exact date of closure, Metro’s management is still working on the matter,” a Metro spokesman said in response to a query from Channel NewsAsia.

He said Metro would like to continue serving residents in the Sengkang area, but added: “The opening of a new store, not just within Sengkang, depends on opportunities present and whether it is a suitable location with the right conditions.”

Following the closure of the Sengkang outlet, Metro will be left with four stores in Singapore: Centrepoint, Paragon, City Square and Woodlands.

Metro, whose main business is property development, had described the Singapore retail scene as challenging during its results briefing last month.

The latest announcement hints at Compass Point closing its doors for renovations by the end of the year.

At least three tenants that Channel NewsAsia spoke to said they would be shutting their stores as early as August, when the lease expires.

When contacted, the management of Compass Point said it continually reviews and adjusts its tenant mix, and that it will provide more details about what it will do with the space currently occupied by Metro at a later date.

Compass Point is part of Frasers Centrepoint and was opened in 2002. It is the largest shopping mall in Sengkang. Frasers Centrepoint, meanwhile, is one of the largest owners and operators of shopping malls in Singapore.

The company also has shares in 12 other malls here.

Source : Channel NewsAsia – 19 Jun 2015

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