Freehold coffee shop at Jalan Besar up for sale at $28 mil
Sophia Lim, associate supervisor, financial investment sales & resources markets at Savills Singapore, checks out the coffee shop unit as an engaging chance provided the unusual accessibility of such properties on Jalan Besar. “Freehold coffeehouse units have long been deemed generational possessions and are usually tightly held,” she adds.
The property enjoys 40m frontage along Jalan Besar, and also can likewise be accessed from Foch Road. The present business owner has also obtained confirmation from the MCST to position signing boards on the structure’s exterior.
Coffeehouse in the Jalan Besar district are expected to take advantage of the buoyant F&B belief appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the nearby Kallang-Whampoa estate are also anticipated to raise Jalan Besar’s restricted catchment.
A two-storey property coffeehouse unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar local area is up for sale via an expression of interest exercise. Accordingly to advertising and marketing representative Savills Singapore, the property gets on the market with an overview cost of $28 million.
“With the current purchases of HDB leasehold coffeehouse at record costs, this asset offers an uncommon possibility to get a freehold coffeehouse delighting in famous frontage and also visibility within the fast-evolving area of Jalan Besar,” Lim says.
The commercial property, which is zoned for commercial use, has a complete strata floor area of 4,510 sq ft. Both levels of the building have F&B authorizations. The ground tier presently includes six food stalls and also one drink delay. The upper flooring can be accessed by means of an inner staircase from the ground level or from an outside escalator.
Hoa Nam Building is a mixed-use development making up household, office and retail units. It is within walking proximity to Bendemeer MRT Terminal on the Downtown Line and also Farrer Park MRT Station on the North East Line.
The expression of interest exercise for the building will close on Sept 21 at 3pm.