Four master tenants at Punggol East, Tebing Lane offered lease extension of up to a year

Four master tenants at Punggol East and Tebing Lane will be offered lease extensions of up to a year, potentially allowing businesses to stay until end-2027. The extension follows a review by agencies after more than 50 tenants at the Punggol East container park were told to cease operations by Oct

SINGAPORE: Four master tenants operating across Punggol East and neighbouring Tebing Lane will be offered lease extensions of up to a year, potentially allowing businesses in the area to remain until the end of 2027.

The extension comes after CNA reported in September that more than 50 tenants at the Punggol East container park had been told to cease operations by Oct 31, ahead of the expiry of the site's lease at the end of the year.

Member of Parliament Yeo Wan Ling of Punggol GRC said in a Facebook post on Saturday (Oct 3) that she had met the relevant agencies to discuss concerns raised by businesses at Punggol East and Tebing Lane over the upcoming expiry of their tenancies. "Following a review and adjustments to the development timelines, the agencies will be able to offer the four master tenants an extension of up to one year, until end-2027," she said.

The extension is subject to the relevant tenancy and regulatory requirements, and is intended to give the businesses more time to work through their transition and business continuity plans, including engagements with their sub-tenants, Ms Yeo said. Agencies including the Singapore Land Authority (SLA), JTC Corporation, NParks and the Housing and Development Board will also continue helping affected businesses explore alternative premises, Ms Yeo said.

Just over a month ago, more than 50 tenants at Punggol East Road had been preparing to leave after City Sprouts, the social enterprise operating the container park, informed them that they had to cease operations by Oct 31. City Sprouts' lease for the state property was due to expire on Dec 31, with the land to be returned to SLA.

SLA had said that the tenancy could not be extended because the site was required for future residential redevelopment. Several businesses told CNA then that the relatively short notice had left them scrambling to find new premises and make arrangements for their employees. The wider Tebing Lane area is also slated for redevelopment.

Ms Yeo said she hoped the extension would give businesses more time to prepare for the transition while allowing the community to continue using the spaces before the area is redeveloped.