Freehold coffee shop at Jalan Besar up for sale at $28 mil
The real estate enjoys 40m frontage along Jalan Besar, and can likewise be accessed from Foch Roadway. The current proprietor has actually additionally gotten authorization from the MCST to place signing boards on the structure’s facade.
A two-storey estate cafe unit established at Hoa Nam Building along Foch Roadway in the Jalan Besar area is up for sale through an expression of interest exercise. Accordingly to advertising and marketing agent Savills Singapore, the property gets on the marketplace with an overview price of $28 million.
Sophia Lim, associate supervisor, investment sales & resources markets at Savills Singapore, watches the coffee shop unit as a compelling chance given the uncommon schedule of such estates on Jalan Besar. “Freehold cafe units have actually long been considered as generational assets and are usually firmly held,” she includes.
Hoa Nam Building is a mixed-use project comprising residential, office and retail units. It is within strolling distance to Bendemeer MRT Terminal on the City Line and Farrer Park MRT Station on the North East Line.
“With the current purchases of HDB leasehold coffee bar at record rates, this property gives a rare chance to obtain an estate coffee shop taking pleasure in prominent frontage and also visibility within the fast-evolving location of Jalan Besar,” Lim states.
The commercial property, which is zoned for retail usage, has an overall strata floor area of 4,510 sq ft. Both levels of the real estate have F&B authorizations. The ground tier presently includes six food stalls and one beverage stall. The upper flooring can be accessed using an interior staircase from the ground floor or from an exterior escalator.
The expression of interest exercise for the property will close on Sept 21 at 3pm.
Cafe in the Jalan Besar district are expected to benefit from the resilient F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the close-by Kallang-Whampoa estate are additionally predicted to raise Jalan Besar’s restricted catchment.
