Freehold coffee shop at Jalan Besar up for sale at $28 mil
Sophia Lim, associate director, investment sales & resources markets at Savills Singapore, checks out the cafe unit as an engaging chance offered the uncommon availability of such properties on Jalan Besar. “Freehold coffee shop units have actually long been viewed as generational possessions as well as are usually firmly held,” she adds.
The building takes pleasure in 40m frontage along Jalan Besar, and can additionally be accessed from Foch Roadway. The present business owner has also acquired confirmation from the MCST to place signing boards on the structure’s facade.
“With the recent purchases of HDB leasehold coffee shops at document prices, this asset supplies an uncommon possibility to get a freehold coffee bar taking pleasure in famous frontage and visibility within the fast-evolving place of Jalan Besar,” Lim says.
A two-storey freehold coffeehouse unit situated at Hoa Nam Building along Foch Road in the Jalan Besar area is up for sale via an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the property is on the market with a guide price of $28 million.
The property, which is zoned for business use, has an overall strata floor area of 4,510 sq ft. Both floors of the building have F&B authorizations. The ground floor presently consists of six food stalls as well as one drink delay. The upper floor can be accessed using an interior stairs from the ground floor or from an external escalator.
Coffee shops in the Jalan Besar district are anticipated to gain from the buoyant F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the neighboring Kallang-Whampoa estate are also predicted to increase Jalan Besar’s captive catchment.
Hoa Nam Establishment is a mixed-use project comprising non commercial, workplace as well as retail units. It is within walking range to Bendemeer MRT Terminal on the City Line as well as 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.
