GEORGE TOWN SHOPHOUSES
A tenanted building should be read as both property and contract. Ask for the signed lease and supporting records, then understand who repairs what, whether the use matches the documents, how access works and what happens at renewal or expiry.
Ask about suitable shophousesCheck parties, term, options, rent review, deposit, permitted use, assignment and termination provisions with your lawyer.
Match the stated rent with tenancy documents and payment records; advertised rent is not passing rent.
Clarify structure, roof, services, tenant works, reinstatement and access for inspection.
Renewal, vacancy, new letting or own use each requires a different cost and timing plan.
WHAT THE LEASE CHANGES
The same monthly rent can sit inside two very different leases. Read these points together before deciding whether the income suits you.
How much time remains, who controls renewal and when can the rent change?
Check the deposit, payment history, arrears and how everything transfers at completion.
Who pays for the roof, structure, services and tenant fit-out?
How much time and capital may be needed before the building can earn rent again?
Read the complete lease first. The monthly rent only matters when the term, payment history, repair obligations and reletting risk are clear.
Your lawyer should confirm this from the lease and sale documents, including how deposits, rent and landlord obligations transfer.
ONE MORE PART OF THE DECISION
Read collected rent beside the deposit, arrears, remaining term, renewal options, repair obligations and the tenant’s actual use.
Partitions, signs, exhaust, wiring and enclosed airwells may affect condition and reinstatement. Clarify what belongs to the tenant and what remains with the building.
Treat the lease and the building as one purchase. Income can change quickly when repair duties, tenant alterations or renewal terms are unclear.