Freehold coffee shop at Jalan Besar up for sale at $28 mil

The property, which is zoned for commercial use, has a total strata floor place of 4,510 sq ft. Both floors of the building have F&B authorizations. The ground level presently consists of six food stalls and one beverage delay. The upper floor can be accessed via an interior staircase from the ground level or from an exterior escalator.

A two-storey estate cafe unit established at Hoa Nam Building along Foch Roadway in the Jalan Besar local area is up for sale via an expression of interest activity. Accordingly to advertising representative Savills Singapore, the property gets on the marketplace with a guide price of $28 million.

“With the current deals of HDB leasehold coffee shops at document prices, this possession provides an uncommon possibility to obtain a property coffee shop taking pleasure in popular frontage and visibility within the fast-evolving location of Jalan Besar,” Lim states.

Sophia Lim, associate supervisor, financial investment sales & funding markets at Savills Singapore, checks out the coffee shop unit as a compelling opportunity offered the uncommon schedule of such estates on Jalan Besar. “Freehold cafe units have long been viewed as generational properties and are normally tightly held,” she includes.

Coffee shops in the Jalan Besar district are expected to take advantage of the resilient F&B belief appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the close-by Kallang-Whampoa estate are additionally expected to boost Jalan Besar’s restricted catchment.

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Hoa Nam Property is a mixed-use project comprising housing, workplace and also retail units. It is within walking range to Bendemeer MRT Station on the City Line and also Farrer Park MRT Terminal on the North East Line.

The building takes pleasure in 40m frontage along Jalan Besar, and also can additionally be accessed from Foch Road. The existing business owner has additionally gotten approval from the MCST to place signing boards on the structure’s exterior.

The expression of interest exercise for the property will close on Sept 21 at 3pm.

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