Freehold coffee shop at Jalan Besar up for sale at $28 mil
The property, which is zoned for profitable usage, has an overall strata floor area of 4,510 sq ft. Both levels of the real estate have F&B authorizations. The ground floor presently contains six food stalls as well as one drink stall. The top flooring can be accessed by means of an internal staircase from the ground floor or from an external escalator.
Sophia Lim, associate supervisor, investment sales & resources markets at Savills Singapore, views the coffee bar unit as an engaging chance offered the unusual schedule of such properties on Jalan Besar. “Freehold coffee bar units have actually long been deemed generational possessions and are typically tightly held,” she includes.
The real estate enjoys 40m frontage along Jalan Besar, and can also be accessed from Foch Roadway. The current owner has actually likewise gotten confirmation from the MCST to put signing boards on the building’s facade.
Coffeehouse in the Jalan Besar district are anticipated to benefit from the resilient F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are likewise predicted to increase Jalan Besar’s restricted catchment.
A two-storey freehold cafe unit established at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale via an expression of interest exercise. Accordingly to marketing agent Savills Singapore, the real estate is on the marketplace with a guide price of $28 million.
Hoa Nam Property is a mixed-use development consisting of residential, office as well as retail units. It is within walking range to Bendemeer MRT Station on the City Line and also Farrer Park MRT Terminal on the North East Line.
“With the recent deals of HDB leasehold coffeehouse at document prices, this asset provides a rare possibility to acquire a freehold cafe appreciating popular frontage as well as presence within the fast-evolving area of Jalan Besar,” Lim claims.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.