Doing Business in Holland V
Holland Village is an excellent place to set up your business due to its unique charm that has drawn many locals, expatriates and tourists alike.
Holland Road Shopping Centre
Though the building is very old and in dire need of refurbishing, it is still a favourite haunt for both locals and expatriates. Shoppers come here to look for arts and crafts, clothes, shoes, antiques, furniture, curios, etc. Others come here to pamper their body with nail care, body care and massage. The rental of the shops here is between $25psf-$30psf for 2nd floor and $20psf-25psf for 3rd floor. They are typically between 150-300sf in size.
In the evening and on weekends, the end of the one-way Lorong Mambong comes alive as clubbers rendezvous at bars and pubs such as Wala Wala, Tango’s, Raku, Baden Baden and Siem Reap.
Ground floor shops here command premium rental of $20,000 and above. Sizes are generally between 1,300-1,700sf.
Those on the second floor have a mix of hair saloons, slimming centres, medical centre, spas, etc. Rental is from $7,000.
Shops are seldom available for rent. If they do, generally a hefty takeover fee is involved. Once in a while, a shop house might be put up for sale. The latest transaction has hit a new record of $13m for a 2-storey shophouse.
The shop row facing Holland Avenue consists mainly of banks (eg. Maybank, DBS, HSBC and Standard Chartered), cafes and a few restaurants. The main shortcoming of the shop houses here is the lack of outdoor seating (with the exception of The Park). With the hike in rental now demanded by landlords, several chains such as Wendy and Delifranc have fallen victims. A 2600sf 2-storey shophouse is now asking for a monthly rental of $36,000.
The short stretch of Lorong Liput is the least popular and cheapest in terms of rental. While some have done relatively well and being around for a long time, like Katong Laksa and Subway, others have fallen along the way in relatively short time. New kids on the block like Nakhon Kitchen Thai Food seems to buck the trend by packing in customers in the small restaurant. Project Acai is another new success story.
Parisilk, one of the long time favourite electronics shops in Lorong Liput, keeps expanding. They recently built a spanking 3 storey new building along Lorong Liput.
A single storey shophouse was recently sold for close to $9m.
Holland V Mall
The small double-storey Holland V Mall has the iconic windmill facade, is the landmark of Holland Village. This former open-air cinema has gone through several transformations over the years. While the anchor tenants, Breadtalk and Ya Kun, are doing well, the same cannot be said of the second level. Most retailers have vacated because of poor human traffic.
Chip Bee Gardens
Chip Bee Gardens is the original expatriate enclave at Holland Village. The terrace houses here were built originally for the British soldiers in the 60s. Though it seems dislocated from the present day epicentre of Holland Village (Lorong Liput and Lorong Mambong), it still remains extremely popular with expatriates, especially to dine and wine in the row of classy restaurants along Jalan Merah Saga, such as Original Sin, Michelangelo, Sistina, Dao Paolo Terrazza Italian Restaurant and Au Petit Salut French Restaurant. Many of these restaurants have been around for a long time and look set to stay. Recent new additions like Baker & Cook and Sunday Folks have been drawing the crowds.
On the upper floor of block 43 are a number of studio galleries and training centres.