Freehold coffee shop at Jalan Besar up for sale at $28 mil
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, checks out the cafe unit as an engaging chance offered the uncommon accessibility of such properties on Jalan Besar. “Freehold coffee shop units have long been viewed as generational assets as well as are normally tightly held,” she includes.
Cafe in the Jalan Besar district are anticipated to benefit from the buoyant F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are additionally expected to enhance Jalan Besar’s captive catchment.
The commercial property, which is zoned for retail use, has a total strata floor area of 4,510 sq ft. Both levels of the building have F&B authorizations. The ground level currently contains 6 food stalls and also one drink stall. The top floor can be accessed using an inner staircase from the ground floor or from an outside escalator.
The asset takes pleasure in 40m frontage along Jalan Besar, as well as can also be accessed from Foch Roadway. The present business owner has likewise obtained confirmation from the MCST to position finalizing boards on the building’s exterior.
“With the current purchases of HDB leasehold coffee bar at document costs, this property supplies a rare opportunity to acquire a property coffee shop enjoying popular frontage and also visibility within the fast-evolving place of Jalan Besar,” Lim claims.
A two-storey freehold coffeehouse unit situated at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale through an expression of interest exercise. Accordingly to advertising and marketing agent Savills Singapore, the real estate gets on the marketplace with a guide price of $28 million.
Hoa Nam Building is a mixed-use project comprising household, workplace as well as retail units. It is within walking proximity to Bendemeer MRT Station on the Downtown Line as well as Farrer Park MRT Station on the North East Line.
The expression of interest exercise for the property is going to close on Sept 21 at 3pm.