Compass Point's Metro to close as lease expires in August
SINGAPORE — Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall.
A poster for Metro's closing-down sale at its Sengkang outlet. Photo: Facebook/Metro Singapore
SINGAPORE — Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall.
“On the exact date of closure, Metro’s management is still working on the matter,” a Metro spokesman said in response to a query from Channel NewsAsia.
He said Metro would like to continue serving residents in the Sengkang area, but added: “The opening of a new store, not just within Sengkang, depends on opportunities present and whether it is a suitable location with the right conditions.”
Following the closure of the Sengkang outlet, Metro will be left with four stores in Singapore: Centrepoint, Paragon, City Square and Woodlands.
Metro, whose main business is property development, had described the Singapore retail scene as challenging during its results briefing last month.
When contacted, the management of Compass Point said it continually reviews and adjusts its tenant mix, and will provide more details about what it will do with the space currently occupied by Metro at a later date.
Compass Point is part of Frasers Centrepoint. CHANNEL NEWSASIA
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