Freehold coffee shop at Jalan Besar up for sale at $28 mil
The commercial property, which is zoned for profitable usage, has a total strata floor place of 4,510 sq ft. Both levels of the building have F&B authorizations. The ground tier currently consists of six food stalls as well as one drink delay. The top flooring can be accessed through an internal stairs from the ground level or from an external escalator.
A two-storey property coffeehouse unit located at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale using an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the real estate gets on the market with an overview price of $28 million.
“With the recent purchases of HDB leasehold coffeehouse at record costs, this possession gives an uncommon chance to get an estate cafe delighting in prominent frontage as well as exposure within the fast-evolving location of Jalan Besar,” Lim says.
The property takes pleasure in 40m frontage along Jalan Besar, and can likewise be accessed from Foch Roadway. The current business owner has also obtained confirmation from the MCST to place finalizing boards on the structure’s exterior.
Coffee bar 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) projects in the close-by Kallang-Whampoa estate are additionally anticipated to raise Jalan Besar’s captive catchment.
Hoa Nam Building is a mixed-use structure making up household, office and also retail units. It is within walking distance to Bendemeer MRT Terminal on the Downtown Line and Farrer Park MRT Station on the North East Line.
The expression of interest exercise for the real estate is going to close on Sept 21 at 3pm.
Sophia Lim, associate supervisor, financial investment sales & capital markets at Savills Singapore, views the coffee bar unit as an engaging chance provided the unusual accessibility of such real properties on Jalan Besar. “Freehold coffee shop units have long been considered as generational properties as well as are usually tightly held,” she includes.
