Freehold coffee shop at Jalan Besar up for sale at $28 mil
Hoa Nam Property is a mixed-use structure comprising non commercial, workplace and also retail units. It is within walking range to Bendemeer MRT Station on the City Line and Farrer Park MRT Terminal on the North East Line.
A two-storey estate cafe unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar location is up for sale via an expression of interest activity. Accordingly to advertising agent Savills Singapore, the commercial property is on the marketplace with an overview price of $28 million.
The commercial property, which is zoned for retail use, has a total strata floor place of 4,510 sq ft. Both levels of the building have F&B authorizations. The ground level currently contains six food stalls and also one drink delay. The upper flooring can be accessed by means of an inner staircase from the ground floor or from an outside escalator.
The building appreciates 40m frontage along Jalan Besar, as well as can likewise be accessed from Foch Road. The existing proprietor has additionally acquired authorization from the MCST to position finalizing boards on the building’s exterior.
Coffee bar in the Jalan Besar district are anticipated to take advantage of the buoyant F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are likewise assumed to raise Jalan Besar’s restricted catchment.
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, checks out the coffee shop unit as a compelling opportunity offered the uncommon schedule of such real properties on Jalan Besar. “Freehold coffee shop units have actually long been considered as generational assets and are typically snugly held,” she includes.
“With the recent purchases of HDB leasehold coffeehouse at document prices, this property gives a rare possibility to acquire a property cafe appreciating popular frontage as well as presence within the fast-evolving place of Jalan Besar,” Lim claims.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.