Freehold coffee shop at Jalan Besar up for sale at $28 mil
The real estate delights in 40m frontage along Jalan Besar, and also can additionally be accessed from Foch Roadway. The current owner has also acquired approval from the MCST to place signing boards on the building’s exterior.
Sophia Lim, associate director, financial investment sales & resources markets at Savills Singapore, watches the coffee bar unit as a compelling possibility provided the uncommon schedule of such estates on Jalan Besar. “Freehold coffeehouse units have long been deemed generational possessions and are generally tightly held,” she includes.
“With the recent deals of HDB leasehold coffeehouse at document prices, this possession provides an unusual opportunity to acquire an estate coffee bar enjoying popular frontage and also exposure within the fast-evolving area of Jalan Besar,” Lim claims.
The property, which is zoned for commercial usage, has a complete 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 also one beverage delay. The top floor can be accessed by means of an inner staircase from the ground level or from an external escalator.
Coffeehouse in the Jalan Besar district are expected to benefit from the buoyant F&B belief appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the close-by Kallang-Whampoa estate are likewise predicted to raise Jalan Besar’s restricted catchment.
A two-storey estate cafe unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar local area is up for sale through an expression of interest activity. Accordingly to advertising and marketing representative Savills Singapore, the property is on the marketplace with a guide cost of $28 million.
Hoa Nam Property is a mixed-use development consisting of housing, office and retail units. It is within walking proximity to Bendemeer MRT Station on the Downtown Line as well as Farrer Park MRT Terminal on the North East Line.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.