Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey property coffeehouse unit positioned at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale by means of an expression of interest activity. Accordingly to marketing agent Savills Singapore, the real estate gets on the marketplace with an overview cost of $28 million.
The real estate appreciates 40m frontage along Jalan Besar, as well as can likewise be accessed from Foch Roadway. The existing proprietor has likewise gotten confirmation from the MCST to place signing boards on the building’s facade.
The property, which is zoned for business use, has an overall strata floor place of 4,510 sq ft. Both floors of the property have F&B approvals. The ground floor currently contains 6 food stalls and also one beverage stall. The upper floor can be accessed via an interior staircase from the ground floor or from an external escalator.
Sophia Lim, associate supervisor, financial investment sales & capital markets at Savills Singapore, checks out the coffee shop unit as an engaging chance provided the uncommon accessibility of such estates on Jalan Besar. “Freehold coffee shop units have actually long been considered as generational possessions and are normally firmly held,” she adds.
“With the current deals of HDB leasehold cafe at record costs, this possession gives a rare opportunity to acquire a freehold coffeehouse appreciating popular frontage and also exposure within the fast-evolving place of Jalan Besar,” Lim states.
Hoa Nam Establishment is a mixed-use structure comprising housing, workplace as well as retail units. It is within strolling range to Bendemeer MRT Terminal on the Downtown Line and Farrer Park MRT Terminal on the North East Line.
Coffeehouse in the Jalan Besar precinct are anticipated to take advantage of the buoyant F&B view appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the close-by Kallang-Whampoa estate are likewise assumed to enhance Jalan Besar’s restricted catchment.
The expression of interest exercise for the real estate will close on Sept 21 at 3pm.