Lacklustre performance: In its latest financial results after the Bedok Mall opening, occupancy at Bedok Point slipped to 80.2% from 96.7% in the previous quarter. -FILE PHOTO
WHEN we buy property, we are told that location is all that matters. But defining a good location is easier said than done. Does it mean buying something in a central and accessible area? Central to what? Accessible to whom?
There are wheels within wheels, and locations within locations.
To understand this, look no further than Orchard Road, and two malls side by side there: Somerset 313, which sits atop Somerset MRT, and Orchard Central beside it.
Theoretically, an Orchard Road property sounds good. Let's say I offer you two commercial buildings, both within walking distance of Somerset MRT, both located along Orchard Road, Singapore's premier shopping belt. Who doesn't want to own either?