Business Property Management
In Singapore, selling a commercial or industrial property with an existing business approval (such as a "Change of Use") involves navigating Urban Redevelopment Authority (URA) regulations and ensuring the transfer of legal permissions to the buyer.
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Because the property is being sold with a specific "business approval," the transaction is a hybrid of a real estate sale and a regulatory handover.
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Understanding URA Business Approval
In Singapore, every property has an "approved use" (e.g., Shop, Restaurant, Office, Light Industrial). If the current business operates under a Change of Use approval, you must identify which type of permission you hold:
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Written Permission (WP): Permanent approval for the use. This is highly valuable as it stays with the property regardless of ownership.
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Temporary Permission (TP): Approval for a specific period (e.g., 2 or 3 years). If you are selling, you must disclose the expiry date to the buyer, as they will need to apply for a Renewal of Change of Use via the GoBusiness portal before it expires.
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Selling Property vs. Selling the Business
It is important to clarify if you are selling just the property asset or the business entity operating within it:
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Asset Sale: You sell the physical space. The URA approval for the specific use (e.g., a gym in a shophouse) generally remains attached to the premises, not the owner. The new owner inherits the right to use the space for that purpose.
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Business Transfer: If the approval is tied to a specific operator's license (like a Massage Establishment or childcare license), the buyer may need to apply for a fresh license under their own entity, even if the URA "Change of Use" is already in place.
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Whether you have a commercial property that you want to sell or are just starting your own business and looking for the perfect commercial space, I can help you. From navigating URA zoning requirements and calculating GST implications to ensuring your "Change of Use" applications are airtight, I can provide the data and regulatory clarity you need to move forward with confidence.