Freehold coffee shop at Jalan Besar up for sale at $28 mil
/ EdgeProp Singapore |
The two-storey freehold coffee shop unit is located at Hoa Nam Building and has 40m frontage along Jalan Besar (Picture: Savills Singapore)
SINGAPORE (EDGEPROP) - A two-storey freehold coffee shop unit located at Hoa Nam Building along Foch Road in the Jalan Besar area is up for sale via an expression of interest exercise. According to marketing agent Savills Singapore, the property is on the market with a guide price of $28 million.
The property, which is zoned for commercial use, has a total strata floor area of 4,510 sq ft. Both floors of the property have F&B approvals. The ground floor currently consists of six food stalls and one drink stall. The upper floor can be accessed via an internal staircase from the ground floor or from an external escalator. (Find Singapore commercial properties with our commercial directory)
The property enjoys 40m frontage along Jalan Besar, and can also be accessed from Foch Road. The current owner has also obtained approval from the MCST to place signing boards on the building’s facade.
Hoa Nam Building is a mixed-use development comprising residential, office and retail units. It is within walking distance to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
Map and overview of Hoa Nam Building (Source: EdgeProp Inspector)
Sophia Lim, associate director, investment sales & capital markets at Savills Singapore, views the coffee shop unit as a compelling opportunity given the rare availability of such properties on Jalan Besar. “Freehold coffee shop units have long been viewed as generational assets and are usually tightly held,” she adds.
Read also: Whipping up an appetite for coffee shops
Coffee shops in the Jalan Besar precinct are expected to benefit from the buoyant F&B sentiment coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the nearby Kallang-Whampoa estate are also expected to increase Jalan Besar’s captive catchment.
“With the recent transactions of HDB leasehold coffee shops at record prices, this asset provides a rare opportunity to acquire a freehold coffee shop enjoying prominent frontage and visibility within the fast-evolving location of Jalan Besar,” Lim says. (Find HDB flats for rent or sale with our Singapore HDB directory)
Recent sales transactions on Jalan Besar (Source: EdgeProp Research)
The expression of interest exercise for the property will close on Sept 21 at 3pm.
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