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 area of 4,510 sq ft. Both floors of the real estate have F&B approvals. The ground level presently consists of 6 food stalls and also one drink stall. The upper flooring can be accessed by means of an inner staircase from the ground floor or from an exterior escalator.
“With the current purchases of HDB leasehold coffeehouse at document costs, this asset offers an unusual opportunity to obtain a freehold coffee bar delighting in noticeable frontage as well as visibility within the fast-evolving place of Jalan Besar,” Lim says.
Sophia Lim, associate director, investment sales & resources markets at Savills Singapore, sees the coffee bar unit as an engaging possibility offered the uncommon schedule of such estates on Jalan Besar. “Freehold coffeehouse units have long been deemed generational assets as well as are generally snugly held,” she includes.
Coffee bar in the Jalan Besar district are anticipated to gain from the resilient F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the nearby Kallang-Whampoa estate are likewise assumed to enhance Jalan Besar’s restricted catchment.
A two-storey estate coffeehouse unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar area is up for sale via an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the real estate is on the market with an overview price of $28 million.
The asset enjoys 40m frontage along Jalan Besar, and also can likewise be accessed from Foch Road. The existing business owner has actually additionally obtained confirmation from the MCST to put finalizing boards on the structure’s exterior.
Hoa Nam Establishment is a mixed-use development making up non commercial, office as well as retail units. It is within walking range to Bendemeer MRT Station on the City Line and Farrer Park MRT Station on the North East Line.
The expression of interest exercise for the property is going to close on Sept 21 at 3pm.