Hao Mart Faces Sudden Lease Termination

In a surprising twist of fate, Hao Corp's lease for the much-anticipated Taste Orchard at the former OG Orchard Point building has been abruptly terminated by OG, just 18 months after this innovative grocery and dining hub opened its doors.

A Race Against Time: Tenants Must Vacate by Year-End

The clock is ticking for Hao Mart and its sub-tenants, which include popular eateries like Sushiro and Killiney Kopitiam. All tenants are now required to vacate the premises and hand over the keys by December 31.

No Reasons Given: Tenants Left in the Dark

In letters addressed to tenants on September 12, the landlord made it clear that the lease termination is final, without providing any reasons for this unexpected decision. Tenants must return their units in the same state they found them, adding to the urgency of the situation.

From Hope to Closure: A Rollercoaster Journey

The termination of the lease is especially shocking, considering that units were actively being marketed as recently as July. Initially, this lease was supposed to last for a whopping 7½ years, encompassing all five floors of the expansive 160 Orchard Road location.

A Short-Lived Dream: Hao Mart's Downscaling

Hao Corp had ambitious plans for the site, transforming it into a bustling retail and F&B arena. However, after a modest beginning, the supermarket downsized in April, relinquishing its basement unit and relocating non-food items to Level 2. As of mid-September, operations continue on the first two floors, but trouble looms as the space struggles to attract customers.

The Big Picture: Retail Landscape Changes in Orchard

The largest retail space, previously occupied by OG for 18 years before its closure in 2022, has seen better days. The once-bustling area now features numerous empty units, particularly on levels 1, 3, and 4, as F&B establishments like the BHC Chicken abruptly shut down.

Future Prospects: What’s Next for Hao Corp?

Hao Corp's CEO, Tan Kim Yong, had previously expressed optimism about the future of Taste Orchard, suggesting plans for expansion. Now, as the company faces an uncertain future, industry observers are left wondering about the potential ripple effects in Singapore's competitive retail market.

A Legacy of Retail: Hao Mart’s Evolution

Founded in 2016, Hao Mart originally began as a minimart chain but evolved into a more formidable supermarket presence in Singapore, proudly operating 20 locations. The journey from humble beginnings to ambitious projects like Taste Orchard highlights both the potential and pitfalls of the fast-paced retail landscape.

As the countdown to December 31 begins, all eyes are on Hao Corp and the larger implications of this lease termination for Singapore's retail scene.