Building's shopkeepers say they want to stay together

Until the building is sold, however, it is business as usual for the 80 or so retail shops there.

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Some of the owners of home decor and furniture shops there tell ST that there is little point in making plans to move out until the sale is confirmed.

"There are so many buildings in Singapore that have gone through en-bloc exercises and have failed. Orchard Towers, People's Park, so many shopping centres," says Mr Hadi Nishaburi, who sells furniture from Europe at The Beuro, and hand-knotted carpets from places such as Iran and Turkey at Jehan Gallery next door.

The 47-year-old is one of the "founding" furniture shop owners, having settled at Tan Boon Liat Building in 2009.

Referring to other buildings' failed collective sales, he adds: "Some businesses left prematurely and did not renew their leases, only to find out later that everything was back to normal.

"There's a good chance that this en bloc will not be successful as well. So, I don't think it would be wise for us to make any major moves because of the potential sale."

He says that news of a collective sale can be detrimental to business.

"Even last year, when the news had not been published formally yet, but just hearsay, it did affect business. Sometimes, we had people calling and asking, 'Oh, are you still there? I thought that place en bloc already,' he adds.