Freehold coffee shop at Jalan Besar up for sale at $28 mil
The commercial property, which is zoned for business usage, has a complete strata floor area of 4,510 sq ft. Both floors of the real estate have F&B approvals. The ground tier currently contains six food stalls and one beverage delay. The upper flooring can be accessed by means of an inner staircase from the ground level or from an outside escalator.
“With the recent purchases of HDB leasehold coffeehouse at document costs, this property provides an uncommon chance to obtain a property coffee shop appreciating famous frontage and also exposure within the fast-evolving place of Jalan Besar,” Lim states.
The building appreciates 40m frontage along Jalan Besar, and can also be accessed from Foch Roadway. The existing owner has also gotten authorization from the MCST to put finalizing boards on the building’s exterior.
Coffeehouse in the Jalan Besar district are anticipated to take advantage of the resilient F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are additionally expected to enhance Jalan Besar’s restricted catchment.
Sophia Lim, associate director, investment sales & capital markets at Savills Singapore, watches the coffee bar unit as a compelling possibility given the rare availability of such estates on Jalan Besar. “Freehold cafe units have actually long been viewed as generational properties as well as are normally snugly held,” she adds.
Hoa Nam Property is a mixed-use project making up residential, workplace and also retail units. It is within walking proximity to Bendemeer MRT Terminal on the Downtown Line and Farrer Park MRT Terminal on the North East Line.
A two-storey estate coffee bar unit located at Hoa Nam Structure along Foch Roadway in the Jalan Besar local area is up for sale using an expression of interest activity. Accordingly to advertising representative Savills Singapore, the property gets on the market with an overview price of $28 million.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.