High rents drive SMEs, start-ups to take respite in the iconic shophouse

It may just be the niche solution for small businesses.

The iconic and unassuming shophouse may well be the solution for SMEs who need--but can’t afford--business space in the CBD.

According to a report by Colliers, shophouses are popular with creative outfits, such as those in advertising, public relations, architecture, media and start-ups.

“Such businesses might have the need to be located in the Central Area to be in close proximity to their
customers. However, not every new venture can afford the rents commanded by office buildings in such a prime location. A modest shophouse in the CBD area might offer a financially viable option combined with a whimsical off-the-beaten track format,” the report stated.