Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey estate coffeehouse unit situated at Hoa Nam Structure along Foch Roadway in the Jalan Besar local area is up for sale using an expression of interest exercise. Accordingly to marketing agent Savills Singapore, the property is on the market with an overview rate of $28 million.
Sophia Lim, associate director, investment sales & capital markets at Savills Singapore, watches the coffee shop unit as an engaging opportunity offered the unusual availability of such estates on Jalan Besar. “Freehold coffee bar units have actually long been considered as generational properties as well as are often firmly held,” she adds.
Hoa Nam Building is a mixed-use development making up housing, office and also retail units. It is within strolling range to Bendemeer MRT Terminal on the Downtown Line and Farrer Park MRT Station on the North East Line.
The commercial property, which is zoned for commercial usage, has a complete strata floor area of 4,510 sq ft. Both levels of the real estate have F&B authorizations. The ground tier presently consists of 6 food stalls as well as one beverage delay. The upper floor can be accessed through an interior stairs from the ground floor or from an exterior escalator.
The property appreciates 40m frontage along Jalan Besar, and also can additionally be accessed from Foch Roadway. The current business owner has likewise obtained authorization from the MCST to put signing boards on the building’s facade.
“With the current purchases of HDB leasehold coffee bar at record costs, this property provides a rare possibility to acquire a property coffeehouse delighting in prominent frontage as well as exposure within the fast-evolving area of Jalan Besar,” Lim states.
Coffee shops in the Jalan Besar district are anticipated to take advantage of the buoyant F&B view appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the close-by Kallang-Whampoa estate are also expected to increase Jalan Besar’s captive catchment.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.