Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey estate coffee bar unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar local area is up for sale by means of an expression of interest exercise. Accordingly to marketing agent Savills Singapore, the real estate is on the marketplace with an overview rate of $28 million.
The building enjoys 40m frontage along Jalan Besar, and also can additionally be accessed from Foch Road. The present owner has actually also acquired confirmation from the MCST to put finalizing boards on the building’s facade.
Hoa Nam Establishment is a mixed-use development comprising housing, office as well as retail units. It is within walking proximity to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Terminal on the North East Line.
The commercial property, which is zoned for commercial use, has an overall strata floor area of 4,510 sq ft. Both floors of the building have F&B authorizations. The ground tier presently consists of 6 food stalls and also one drink stall. The upper floor can be accessed using an internal stairs from the ground floor or from an exterior escalator.
Sophia Lim, associate supervisor, investment sales & funding markets at Savills Singapore, sees the cafe unit as an engaging opportunity given the unusual availability of such real properties on Jalan Besar. “Freehold coffee shop units have actually long been deemed generational assets and also are typically securely held,” she includes.
Coffeehouse in the Jalan Besar district are expected to take advantage of the resilient F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the close-by Kallang-Whampoa estate are additionally assumed to raise Jalan Besar’s captive catchment.
“With the current purchases of HDB leasehold coffee bar at document rates, this possession offers a rare opportunity to get an estate cafe enjoying famous frontage and also exposure within the fast-evolving location of Jalan Besar,” Lim states.
The expression of interest exercise for the building is going to close on Sept 21 at 3pm.