Freehold coffee shop at Jalan Besar up for sale at $28 mil
Hoa Nam Building is a mixed-use development making up housing, office and also retail units. It is within strolling distance to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
The building takes pleasure in 40m frontage along Jalan Besar, as well as can likewise be accessed from Foch Road. The existing proprietor has additionally gotten authorization from the MCST to position finalizing boards on the building’s facade.
The commercial property, which is zoned for business use, has a complete strata floor place of 4,510 sq ft. Both levels of the building have F&B approvals. The ground tier currently includes 6 food stalls and also one beverage delay. The top flooring can be accessed by means of an inner staircase from the ground level or from an external escalator.
A two-storey property coffee shop unit located at Hoa Nam Structure along Foch Roadway in the Jalan Besar area is up for sale by means of an expression of interest activity. Accordingly to advertising agent Savills Singapore, the commercial property gets on the marketplace with a guide cost of $28 million.
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, views the coffee bar unit as a compelling opportunity given the uncommon schedule of such estates on Jalan Besar. “Freehold cafe units have actually long been deemed generational assets as well as are normally firmly held,” she includes.
“With the current purchases of HDB leasehold coffee bar at record costs, this possession offers a rare possibility to acquire a property cafe appreciating famous frontage and visibility within the fast-evolving area of Jalan Besar,” Lim states.
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) properties in the close-by Kallang-Whampoa estate are also assumed to increase Jalan Besar’s restricted catchment.
The expression of interest exercise for the property is going to close on Sept 21 at 3pm.