Freehold coffee shop at Jalan Besar up for sale at $28 mil
The property, which is zoned for commercial usage, has a total strata floor area of 4,510 sq ft. Both levels of the real estate have F&B authorizations. The ground level presently contains six food stalls and also one drink stall. The upper floor can be accessed via an inner staircase from the ground level or from an outside escalator.
Coffee bar in the Jalan Besar district are expected to take advantage of the resilient F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the neighboring Kallang-Whampoa estate are also expected to increase Jalan Besar’s restricted catchment.
“With the current transactions of HDB leasehold coffeehouse at record prices, this asset supplies an unusual opportunity to get an estate coffee bar enjoying popular frontage and presence within the fast-evolving area of Jalan Besar,” Lim states.
The asset appreciates 40m frontage along Jalan Besar, and can also be accessed from Foch Road. The existing owner has likewise acquired authorization from the MCST to put finalizing boards on the building’s exterior.
Sophia Lim, associate director, investment sales & capital markets at Savills Singapore, watches the coffeehouse unit as an engaging possibility offered the uncommon availability of such real properties on Jalan Besar. “Freehold coffeehouse units have actually long been considered as generational possessions as well as are usually snugly held,” she includes.
Hoa Nam Property is a mixed-use structure comprising residential, office as well as retail units. It is within strolling proximity to Bendemeer MRT Terminal on the Downtown Line as well as Farrer Park MRT Station on the North East Line.
A two-storey estate coffee shop unit situated at Hoa Nam Building along Foch Roadway in the Jalan Besar area is up for sale by means of an expression of interest exercise. Accordingly to advertising representative Savills Singapore, the real estate is on the market with an overview price of $28 million.
The expression of interest exercise for the building is going to close on Sept 21 at 3pm.