Freehold coffee shop at Jalan Besar up for sale at $28 mil
Coffee shops in the Jalan Besar precinct are anticipated to gain 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 anticipated to enhance Jalan Besar’s captive catchment.
A two-storey estate cafe unit located at Hoa Nam Structure along Foch Roadway in the Jalan Besar location is up for sale via an expression of interest activity. Accordingly to marketing representative Savills Singapore, the property is on the market with an overview rate of $28 million.
Irwell Hill Residence floor plan
The property, which is zoned for profitable usage, has a total strata floor area of 4,510 sq ft. Both floors of the property have F&B authorizations. The ground level presently consists of six food stalls as well as one beverage delay. The top floor can be accessed through an interior stairs from the ground floor or from an external escalator.
Hoa Nam Establishment is a mixed-use structure consisting of residential, office and also retail units. It is within walking proximity to Bendemeer MRT Terminal on the Downtown Line and also Farrer Park MRT Terminal on the North East Line.
The building delights in 40m frontage along Jalan Besar, and can also be accessed from Foch Roadway. The present owner has actually likewise gotten approval from the MCST to put signing boards on the structure’s facade.
Sophia Lim, associate director, investment sales & capital markets at Savills Singapore, views the coffee shop unit as a compelling possibility offered the rare accessibility of such estates on Jalan Besar. “Freehold coffeehouse units have actually long been deemed generational possessions and also are normally snugly held,” she adds.
“With the current transactions of HDB leasehold coffee shops at document costs, this asset provides an uncommon chance to get a property coffee bar appreciating prominent frontage and also presence within the fast-evolving place of Jalan Besar,” Lim says.
The expression of interest exercise for the property is going to close on Sept 21 at 3pm.
