Freehold coffee shop at Jalan Besar up for sale at $28 mil
Cafe in the Jalan Besar precinct are anticipated to gain from the buoyant F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the close-by Kallang-Whampoa estate are likewise anticipated to enhance Jalan Besar’s restricted catchment.
Sophia Lim, associate director, financial investment sales & capital markets at Savills Singapore, checks out the coffeehouse unit as an engaging chance given the rare availability of such properties on Jalan Besar. “Freehold coffee shop units have actually long been deemed generational possessions and are normally securely held,” she adds.
The asset appreciates 40m frontage along Jalan Besar, as well as can also be accessed from Foch Road. The present business owner has additionally acquired authorization from the MCST to position finalizing boards on the structure’s exterior.
“With the current transactions of HDB leasehold coffee shops at record rates, this possession offers an uncommon chance to obtain a property coffee shop enjoying prominent frontage and also exposure within the fast-evolving location of Jalan Besar,” Lim claims.
Hoa Nam Property is a mixed-use project comprising housing, office and retail units. It is within walking range to Bendemeer MRT Station on the Downtown Line and also Farrer Park MRT Station on the North East Line.
The commercial property, which is zoned for retail use, has a complete strata floor area of 4,510 sq ft. Both levels of the property have F&B authorizations. The ground floor presently includes six food stalls and one drink stall. The upper flooring can be accessed through an internal staircase from the ground level or from an exterior escalator.
A two-storey property coffee shop unit established at Hoa Nam Building along Foch Roadway in the Jalan Besar local area is up for sale by means of an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the property is on the market with an overview rate of $28 million.
The expression of interest exercise for the building will close on Sept 21 at 3pm.
