Freehold coffee shop at Jalan Besar up for sale at $28 mil
The property, which is zoned for retail use, has a complete strata floor place of 4,510 sq ft. Both floors of the real estate have F&B approvals. The ground tier currently consists of 6 food stalls and one beverage stall. The top floor can be accessed via an internal staircase from the ground level or from an external escalator.
A two-storey property coffee shop unit positioned at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale using an expression of interest activity. Accordingly to advertising agent Savills Singapore, the commercial property is on the marketplace with a guide price of $28 million.
“With the current deals of HDB leasehold coffee bar at document costs, this property supplies a rare possibility to obtain a property coffee bar taking pleasure in noticeable frontage and visibility within the fast-evolving location of Jalan Besar,” Lim says.
Hoa Nam Establishment is a mixed-use project comprising non commercial, workplace and also retail units. It is within strolling distance to Bendemeer MRT Station on the Downtown Line as well as Farrer Park MRT Terminal on the North East Line.
Coffee bar in the Jalan Besar district are expected to gain from the buoyant F&B sentiment appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the close-by Kallang-Whampoa estate are also anticipated to boost Jalan Besar’s captive catchment.
Sophia Lim, associate supervisor, investment sales & funding markets at Savills Singapore, checks out the cafe unit as a compelling chance given the uncommon availability of such real properties on Jalan Besar. “Freehold coffee shop units have long been deemed generational assets and are typically firmly held,” she adds.
The asset enjoys 40m frontage along Jalan Besar, and can likewise be accessed from Foch Roadway. The present business owner has also obtained approval from the MCST to place signing boards on the building’s exterior.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.