Freehold coffee shop at Jalan Besar up for sale at $28 mil
The property delights in 40m frontage along Jalan Besar, as well as can additionally be accessed from Foch Roadway. The present owner has actually additionally gotten authorization from the MCST to put finalizing boards on the structure’s facade.
Coffeehouse in the Jalan Besar district are anticipated to take advantage of the buoyant F&B sentiment appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the neighboring Kallang-Whampoa estate are likewise expected to enhance Jalan Besar’s restricted catchment.
Sophia Lim, associate supervisor, investment sales & capital markets at Savills Singapore, checks out the coffee shop unit as a compelling chance provided the uncommon schedule of such real properties on Jalan Besar. “Freehold coffeehouse units have long been deemed generational assets and are normally tightly held,” she includes.
A two-storey property coffee bar unit established at Hoa Nam Building along Foch Roadway in the Jalan Besar location is up for sale by means of an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the property gets on the marketplace with a guide cost of $28 million.
The commercial property, which is zoned for profitable usage, has an overall strata floor area of 4,510 sq ft. Both levels of the building have F&B authorizations. The ground level presently consists of six food stalls as well as one beverage delay. The top flooring can be accessed through an inner stairs from the ground floor or from an external escalator.
“With the recent purchases of HDB leasehold coffee shops at document rates, this asset provides an unusual possibility to acquire a freehold coffee shop delighting in prominent frontage and presence within the fast-evolving area of Jalan Besar,” Lim states.
The expression of interest exercise for the property will close on Sept 21 at 3pm.
Hoa Nam Property is a mixed-use project making up housing, workplace and also retail units. It is within walking proximity to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Terminal on the North East Line.