Freehold coffee shop at Jalan Besar up for sale at $28 mil
Coffee shops in the Jalan Besar precinct are expected to benefit from the buoyant F&B sentiment appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are also expected to enhance Jalan Besar’s restricted catchment.
Hoa Nam Building is a mixed-use structure comprising residential, office and retail units. It is within walking range to Bendemeer MRT Station on the City Line as well as Farrer Park MRT Terminal on the North East Line.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.
Sophia Lim, associate director, financial investment sales & capital markets at Savills Singapore, checks out the coffee bar unit as an engaging possibility given the rare availability of such properties on Jalan Besar. “Freehold coffeehouse units have long been considered as generational properties and are normally tightly held,” she includes.
The real estate delights in 40m frontage along Jalan Besar, as well as can likewise be accessed from Foch Road. The existing proprietor has also gotten approval from the MCST to put finalizing boards on the structure’s facade.
The commercial property, which is zoned for retail use, has a complete strata floor area of 4,510 sq ft. Both levels of the property have F&B approvals. The ground level currently contains six food stalls as well as one drink delay. The upper floor can be accessed by means of an inner staircase from the ground level or from an outside escalator.
“With the current transactions of HDB leasehold coffee bar at record prices, this property offers an unusual opportunity to get an estate coffee bar taking pleasure in prominent frontage and visibility within the fast-evolving area of Jalan Besar,” Lim states.
Mori Condo Roxy Pacific Holdings Limited
A two-storey freehold coffee shop unit established at Hoa Nam Structure along Foch Road in the Jalan Besar area is up for sale by means of an expression of interest exercise. Accordingly to marketing representative Savills Singapore, the commercial property is on the market with an overview cost of $28 million.
