You can apply to take over the tenancy of a commercial unit from HDB's existing tenants via assignment.
Starting from 16 October 2013, our new commercial tenants who have just taken over their premises via assignment cannot assign their tenancies. They have to return the premises to us if they wish to cease their business operations.
Length of tenancy
You can choose to take over the tenancy at either the balance term under the current tenant or choose a fresh 1, 2, or 3-year term.
For a fresh term, the proposed rent will be revised to the prevailing market rent or remain at the existing rent, whichever is higher. For the balance term, the rent will remain the same as the existing rent.
Units allocated under specific trade conditions
For units let out for specific trade/ use, the proposed trades must comply with the trade conditions specified during tender allocation. For example, if the unit is only for ‘office’ use, we will not consider a change of trade/ use.
Rent-free fitting-out period
No rent-free fitting-out period will be given to the proposed tenant. The assignment of the premises is on an ‘as-it-is’ condition, and mutually agreed between the existing and proposed tenants.
In the event of early termination, regardless of the reason, the proposed tenant shall not be entitled to any compensation/ indemnity/ ex-gratia payment/ grant of any alternative premises/ other relocation benefits.
If the unit is included in any of our upgrading programmes, any subsequent revision in rent will be borne by the tenant from the completion date of the upgrading works. The revision in rent is based on the improvement works that have been in the estate as well as the provision of the Space Adding Item.