Freehold coffee shop at Jalan Besar up for sale at $28 mil
A two-storey estate coffee bar unit located at Hoa Nam Building along Foch Roadway in the Jalan Besar area is up for sale via an expression of interest activity. Accordingly to marketing representative Savills Singapore, the commercial property is on the market with a guide price of $28 million.
“With the recent deals of HDB leasehold coffee shops at document costs, this asset provides an uncommon opportunity to obtain a freehold cafe delighting in prominent frontage as well as presence within the fast-evolving place of Jalan Besar,” Lim states.
Coffee shops in the Jalan Besar district are expected to gain from the buoyant F&B view coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) developments in the neighboring Kallang-Whampoa estate are also predicted to boost Jalan Besar’s captive catchment.
The commercial property, which is zoned for retail usage, has a complete strata floor area of 4,510 sq ft. Both floors of the real estate have F&B authorizations. The ground floor presently contains 6 food stalls and one beverage delay. The top floor can be accessed through an interior stairs from the ground floor or from an outside escalator.
The real estate delights in 40m frontage along Jalan Besar, as well as can likewise be accessed from Foch Roadway. The current owner has actually likewise obtained authorization from the MCST to place signing boards on the structure’s exterior.
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, checks out the coffee shop unit as a compelling possibility offered the unusual schedule of such properties on Jalan Besar. “Freehold coffee bar units have long been deemed generational properties and are normally tightly held,” she adds.
Hoa Nam Building is a mixed-use structure consisting of non commercial, office and retail units. It is within strolling range to Bendemeer MRT Terminal on the City Line and also 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.