Freehold coffee shop at Jalan Besar up for sale at $28 mil
The commercial property, which is zoned for commercial usage, has a total strata floor place of 4,510 sq ft. Both levels of the real estate have F&B authorizations. The ground floor currently includes six food stalls and one beverage stall. The top flooring can be accessed via an inner staircase from the ground floor or from an outside escalator.
A two-storey freehold coffeehouse unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar location is up for sale through an expression of interest activity. Accordingly to advertising representative Savills Singapore, the commercial property gets on the market with an overview cost of $28 million.
“With the recent deals of HDB leasehold coffeehouse at document rates, this possession offers an unusual opportunity to get an estate cafe delighting in famous frontage as well as presence within the fast-evolving location of Jalan Besar,” Lim says.
Hoa Nam Building is a mixed-use project consisting of residential, workplace and retail units. It is within walking distance to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Terminal on the North East Line.
Coffee shops in the Jalan Besar precinct are expected to benefit from the resilient F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the nearby Kallang-Whampoa estate are also assumed to raise Jalan Besar’s restricted catchment.
The building takes pleasure in 40m frontage along Jalan Besar, and can likewise be accessed from Foch Roadway. The present business owner has likewise acquired authorization from the MCST to put finalizing boards on the building’s exterior.
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, sees the coffeehouse unit as an engaging chance provided the uncommon availability of such properties on Jalan Besar. “Freehold coffeehouse units have actually long been deemed generational assets and are generally firmly held,” she adds.
The expression of interest exercise for the building will close on Sept 21 at 3pm.