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

The property takes pleasure in 40m frontage along Jalan Besar, as well as can also be accessed from Foch Roadway. The current proprietor has actually also obtained confirmation from the MCST to position finalizing boards on the building’s exterior.

Hoa Nam Establishment is a mixed-use structure comprising non commercial, office as well as retail units. It is within walking range to Bendemeer MRT Terminal on the City Line as well as Farrer Park MRT Station on the North East Line.

A two-storey property coffee shop unit located at Hoa Nam Building along Foch Road in the Jalan Besar local area is up for sale by means of an expression of interest activity. Accordingly to advertising and marketing agent Savills Singapore, the real estate gets on the marketplace with a guide price of $28 million.

“With the current purchases of HDB leasehold coffee bar at document costs, this possession provides a rare possibility to get an estate coffee bar enjoying famous frontage and also presence within the fast-evolving place of Jalan Besar,” Lim says.

The property, which is zoned for profitable use, has an overall strata floor place of 4,510 sq ft. Both floors of the building have F&B approvals. The ground floor currently includes 6 food stalls and also one beverage stall. The upper floor can be accessed via an inner staircase from the ground floor or from an outside escalator.

The expression of interest exercise for the property will close on Sept 21 at 3pm.

Sophia Lim, associate director, investment sales & resources markets at Savills Singapore, checks out the cafe unit as a compelling possibility given the rare availability of such estates on Jalan Besar. “Freehold coffeehouse units have actually long been viewed as generational possessions as well as are often securely held,” she adds.

The M Condo price

Cafe in the Jalan Besar precinct are anticipated to take advantage of the buoyant F&B view coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) properties in the nearby Kallang-Whampoa estate are additionally anticipated to boost Jalan Besar’s restricted catchment.

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