Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey estate coffee bar unit positioned at Hoa Nam Building along Foch Road in the Jalan Besar local area is up for sale through an expression of interest activity. Accordingly to advertising and marketing agent Savills Singapore, the commercial property is on the marketplace with an overview price of $28 million.
The commercial property, which is zoned for profitable use, has a total strata floor area of 4,510 sq ft. Both floors of the real estate have F&B authorizations. The ground level presently contains 6 food stalls and also one drink stall. The top flooring can be accessed through an inner staircase from the ground floor or from an outside escalator.
Hoa Nam Property is a mixed-use project making up residential, workplace as well as retail units. It is within walking range to Bendemeer MRT Terminal on the City Line and Farrer Park MRT Station on the North East Line.
“With the current deals of HDB leasehold coffee bar at document prices, this property provides an unusual chance to obtain a freehold coffee shop delighting in prominent frontage as well as presence within the fast-evolving place of Jalan Besar,” Lim claims.
Cafe in the Jalan Besar district are expected to gain from the resilient F&B belief appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the neighboring Kallang-Whampoa estate are additionally anticipated to enhance Jalan Besar’s restricted catchment.
North Gaia Song Holdings Limited
Sophia Lim, associate supervisor, financial investment sales & resources markets at Savills Singapore, watches the cafe unit as an engaging chance provided the unusual availability of such estates on Jalan Besar. “Freehold coffee bar units have actually long been considered as generational assets and are often firmly held,” she includes.
The asset takes pleasure in 40m frontage along Jalan Besar, and also can additionally be accessed from Foch Road. The present proprietor has actually also gotten authorization from the MCST to position finalizing boards on the structure’s facade.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.
