Shock as Stanley's popular Apple Mall slated for closure due to fee increase

Shocked retailers have been given less than three months to clear out after the owner of a popular Stanley mall chose to close down in the face of a 50 per cent rise in government fees.

The 20 or so shopkeepers at the Apple Mall on Stanley Market Road face losing their businesses, and some say they will suffer financial hardship after buying up stock in the expectation that they could continue trading.

They say the closure came completely out of the blue; one shop owner signed a new lease with landlord Eton Properties just two months ago.

The 11-year-old mall had been a popular spot with tourists and expats, offering everything from children's apparel and handbags to celebrity posters. Stores have been given until September 30 or October 18 to move out.

"[It] certainly has a huge impact on me because I restocked our shelves just before the leasing office told me to move out," said Crystal Cao Jun, 29, who has run a handbag store at the mall for the past year.

"Now I have no idea how I can sell or store the new stock. I have invested a lot in my business and now the sudden termination of my tenancy means I have been running my outlet for nothing."

The shopping mall spans two plots of land, one of which was designated by the government for agricultural use, requiring the developer to pay a land premium so it could be used for commercial purposes.