Freehold coffee shop at Jalan Besar up for sale at $28 mil
Coffee bar in the Jalan Besar precinct are expected to benefit from the buoyant F&B view appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the close-by Kallang-Whampoa estate are additionally expected to boost Jalan Besar’s restricted catchment.
Hoa Nam Building is a mixed-use development comprising household, office as well as retail units. It is within strolling distance to Bendemeer MRT Station on the City Line and also Farrer Park MRT Station on the North East Line.
The commercial property, which is zoned for business use, has a complete strata floor area of 4,510 sq ft. Both floors of the building have F&B authorizations. The ground level currently contains 6 food stalls as well as one drink delay. The upper floor can be accessed using an inner staircase from the ground floor or from an exterior escalator.
A two-storey estate coffee bar unit situated at Hoa Nam Structure along Foch Road in the Jalan Besar area is up for sale by means of an expression of interest activity. Accordingly to marketing representative Savills Singapore, the commercial property is on the marketplace with a guide cost of $28 million.
“With the recent deals of HDB leasehold coffee bar at record costs, this asset provides an unusual possibility to get a freehold coffee bar enjoying popular frontage and also exposure within the fast-evolving place of Jalan Besar,” Lim claims.
Sophia Lim, associate director, investment sales & resources markets at Savills Singapore, checks out the coffee bar unit as an engaging possibility given the unusual accessibility of such estates on Jalan Besar. “Freehold cafe units have actually long been deemed generational possessions as well as are usually firmly held,” she includes.
The property appreciates 40m frontage along Jalan Besar, as well as can also be accessed from Foch Road. The present proprietor has also gotten confirmation from the MCST to place finalizing boards on the building’s facade.
The expression of interest exercise for the building is going to close on Sept 21 at 3pm.