Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey property coffee bar unit established at Hoa Nam Structure along Foch Roadway in the Jalan Besar local area is up for sale by means of an expression of interest activity. Accordingly to advertising and marketing agent Savills Singapore, the commercial property gets on the marketplace with a guide cost of $28 million.
Coffeehouse in the Jalan Besar precinct are anticipated to take advantage of the resilient F&B view coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the neighboring Kallang-Whampoa estate are additionally anticipated to raise Jalan Besar’s restricted catchment.
Sophia Lim, associate supervisor, financial investment sales & resources markets at Savills Singapore, sees the coffee shop unit as a compelling chance provided the unusual availability of such real properties on Jalan Besar. “Freehold cafe units have long been deemed generational assets as well as are usually securely held,” she adds.
The property delights in 40m frontage along Jalan Besar, and also can likewise be accessed from Foch Roadway. The existing proprietor has likewise obtained approval from the MCST to put finalizing boards on the building’s exterior.
Hoa Nam Property is a mixed-use project making up non commercial, office as well as retail units. It is within strolling proximity to Bendemeer MRT Terminal on the Downtown Line as well as Farrer Park MRT Terminal on the North East Line.
The commercial property, which is zoned for profitable usage, has a total strata floor area of 4,510 sq ft. Both levels of the property have F&B approvals. The ground tier currently contains 6 food stalls as well as one drink stall. The upper floor can be accessed by means of an internal staircase from the ground level or from an outside escalator.
“With the recent deals of HDB leasehold coffee shops at record rates, this possession offers an unusual opportunity to acquire an estate cafe appreciating noticeable frontage and also visibility within the fast-evolving place of Jalan Besar,” Lim states.
The expression of interest exercise for the real estate is going to close on Sept 21 at 3pm.