Hawker makes record-breaking rent bid of S$10.2k for vacant stall at Marine Parade Food Centre

Street vendor bids S$10,158 per month for vacant stall at Marine Parade Central Market & Food Centre

A 51-year-old hawker recently made a record bid of SGD 10,158 for a vacant stall at the Marine Parade Central Market and Food Centre, setting a new benchmark for hawker leasing in Singapore.

Source: Google Maps

According to the National Environment Agency (NEA)’s July 2024 tender report, the top five bids for stands 01-29 in Block 84 Marine Parade Central ranged from S$8,113 to S$10,680.

However, since the highest bidder has withdrawn his offer, the stall is now expected to be awarded to Yang Ailan, who made the second highest bid of S$10,158.

Source: National Environment Agency

Street vendor wants son to take over food stall

Shin Min Daily News reported that Ms. Yang currently runs a beverage stall in the same hawker center.

Source: Shin Min Daily News

She noted that the vacant stall had previously been occupied by a fish soup seller and later by an oyster mee sua seller.

Ms. Yang also announced that she intends to secure the stall so that her son can take it over and further expand the family’s street business.

When asked why she was willing to make such a high bid, she explained, “Many people have noticed that the location of the booth is excellent. Since my children like to participate, this is an opportunity for them to learn something.”

Source: Shin Min Daily News

She added that vacancies at this food center are rare and that due to strong competition among interested parties, higher bids are required to get a stall.

Business at the food center has been booming since the opening of the Marine Parade subway station

In addition, the recent opening of the Marine Parade subway station right next door has significantly increased the food center’s sales.

Therefore, Ms. Yang is confident that her five-figure bid accurately reflects the market value of the area.

Marine Parade Merchants’ Association chairman Thya Boon Hin confirmed that sales at the food centre had increased significantly.

At some stands, sales increased by 30 to 40 percent, at others it was even 80 percent.

In addition, the proximity of the food center to several hotels and the frequent visits of tourists contribute to this boom.

However, Mr Thya pointed out that whether a trader can make a profit after paying a monthly rent of S$10,000 depends on factors such as the type of food sold and the business model used.

“Cooked food generally brings in more money, but it also depends on the operating costs, such as whether you have to hire staff,” he explained. “If you do that, your revenue may be lower.”

Ms Yang told Shin Min Daily News that her family is still discussing what to sell and how to set prices.

She is determined to secure the stand and has no intention of withdrawing her offer.

Also read: Bedok Hawker Centre stall gets monthly rental offer of S$6,299, highest for such stalls in February

The Bedok Hawker Centre stall receives a monthly rental offer of S$6,299, the highest for such stalls in February

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Featured image adapted from Shin Min Daily News.

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