Listing Id: 604
Total Views: 16419
(Sold) Business Office Space W Subtenants (Leasing Business) For Takeover
Kallang/Whampoa
Date Closed: 13/06/2014
Asking Price: S$40,000
- Overview
- Reason For Sale
- Description
- Business Operation
- Property Information
Overview
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Premise Type
N/A
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Premise Size
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Monthly Rental
S$6,670
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Rental Desposit
S$13,340
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Revenue
Under S$5K
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Liability
N/A
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Gross Profit
Under S$5K
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Net Profit
Under S$5K
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Stock
N/A
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FFE
S$15,000***
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Payable
N/A
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Receivable
N/A
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Owner Role
Full Time
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Staff
3
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Established
1999
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Source
Direct Seller
Reason For Sale
Owner moving to new office
Description
Current office space is divided into 1,500 sqf for own use, and the other 1,500 sqf subdivided / rented out to subtenants. Passive income from tenants is $6,500 / month, essentially covering the rental of $6,600 currently.
New owner can make use of existing 1,500 sqf space for his own use, or further rent it out to other tenants, and keep remaining space for his own use. If further rented out, it'll be passive income for the new owner.
Lease duration is 2 years, or can be earlier if assignment is completed earlier.
Current landlord will transfer all subtenants to the new owner. In the event that any tenant leaves, current owner will guarantee and pay 1 x month's rental.
There will be also be agents to help market the unit for rental, if such services and support is required.
Your investment will roll back in 6 months. Owner is assigning it over as we have too many other locations to handle, and we are moving to a new place in a few month's time. All renovation, furnishing and equipment will be transferred to the new business owner.
Please call or email for more information.
Business Operation
Remaining space (1,500 sqf) can be sublet to another tenant if new owners decides not to use the space.
Expansion Potential
Yes, proper handover will be given
Support and Training
Some experience in handling tenants, and knowledge for leases will be useful.
Background & Skills
Singapore