SINGAPORE - A stand-off over rent between the landlord of Singapore Land Tower and four food and beverage establishments was resolved Wednesday and some 50 staff are set to move back to their workplaces in the 48-storey skyscraper in Raffles Place.
Mr Lim said Wednesday that"the landlord offered to finally accept the offer of Fifty Raffles Place to settle the rental arrears in full". This was after Fifty Raffles Place served an originating summons for the re-entry into their premises, he added. Tower owner S.L. Development moved in on April 29 to repossess the premises after some $685,957 was allegedly owed in unpaid rent and three letters of demand had been sent by its lawyers.
The landlord's lawyer, Mr Toh Kok Seng, said the impasse occurred because the tenant had made various offers of partial payment with conditions attached which the landlord was unable to accept.
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