Freehold coffee shop at Jalan Besar up for sale at $28 mil
The building delights in 40m frontage along Jalan Besar, as well as can also be accessed from Foch Road. The present owner has actually additionally acquired confirmation from the MCST to place signing boards on the building’s exterior.
A two-storey freehold coffee bar unit positioned at Hoa Nam Building along Foch Roadway in the Jalan Besar local area is up for sale through an expression of interest activity. Accordingly to advertising representative Savills Singapore, the real estate gets on the market with an overview price of $28 million.
Sophia Lim, associate supervisor, financial investment sales & resources markets at Savills Singapore, sees the cafe unit as a compelling possibility given the rare availability of such real properties on Jalan Besar. “Freehold coffeehouse units have actually long been viewed as generational possessions as well as are typically firmly held,” she includes.
Coffeehouse in the Jalan Besar precinct are expected to benefit from the buoyant F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the nearby Kallang-Whampoa estate are likewise predicted to raise Jalan Besar’s captive catchment.
Hoa Nam Establishment is a mixed-use development making up housing, office and retail units. It is within walking proximity to Bendemeer MRT Station on the City Line as well as Farrer Park MRT Station on the North East Line.
The property, which is zoned for commercial use, has a complete strata floor place of 4,510 sq ft. Both levels of the real estate have F&B approvals. The ground tier currently contains six food stalls and one beverage stall. The top flooring can be accessed by means of an interior staircase from the ground level or from an outside escalator.
“With the recent transactions of HDB leasehold coffeehouse at record prices, this property provides an uncommon possibility to acquire a property coffee bar taking pleasure in famous frontage and visibility within the fast-evolving location of Jalan Besar,” Lim states.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.