Freehold coffee shop at Jalan Besar up for sale at $28 mil

The commercial property, which is zoned for profitable use, has an overall strata floor area of 4,510 sq ft. Both levels of the building have F&B approvals. The ground level currently includes 6 food stalls and also one drink delay. The upper floor can be accessed using an interior staircase from the ground level or from an outside escalator.

A two-storey property coffeehouse unit established at Hoa Nam Structure along Foch Road in the Jalan Besar area is up for sale by means of an expression of interest exercise. Accordingly to advertising agent Savills Singapore, the real estate gets on the market with a guide price of $28 million.

The property appreciates 40m frontage along Jalan Besar, and can additionally be accessed from Foch Road. The current proprietor has likewise gotten authorization from the MCST to position finalizing boards on the building’s exterior.

Sophia Lim, associate supervisor, investment sales & resources markets at Savills Singapore, watches the cafe unit as a compelling opportunity provided the rare availability of such properties on Jalan Besar. “Freehold coffee bar units have actually long been viewed as generational possessions and are typically securely held,” she adds.

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“With the recent transactions of HDB leasehold coffeehouse at document prices, this possession gives a rare possibility to get an estate coffee bar appreciating famous frontage as well as presence within the fast-evolving location of Jalan Besar,” Lim says.

Cafe in the Jalan Besar district are expected to benefit from the resilient F&B view appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the nearby Kallang-Whampoa estate are additionally predicted to raise Jalan Besar’s captive catchment.

Hoa Nam Property is a mixed-use structure comprising residential, workplace and retail units. It is within walking distance to Bendemeer MRT Station on the Downtown Line as well as Farrer Park MRT Station on the North East Line.

The expression of interest exercise for the building is going to close on Sept 21 at 3pm.