Ground floor F&B space at The 101 Development up for sale

It has a guide price of $7.62m.

A ground floor food and beverage (F&B) space at The 101 Development has been up for sale through a tender process.

According to Knight Frank Singapore, the property’s sole agent, the asset, spanning approximately 1,539 square feet, is currently leased to the popular Sichuan restaurant, Chef China. It has a guide price of $7.62m, translating to $4,951 per square foot.

Located at the intersection of Beach Road, Liang Seah Street and Tan Quee Lan Street, The 101’s dual frontages are visible from both Beach Road and Liang Seah Street. Accessibility is further enhanced by its proximity to major expressways, including the East Coast Parkway, Kallang-Paya Lebar Expressway, and Marina Coastal Expressway.

Moreover, the property, exempt from the seller stamp duty and additional buyers’ stamp duty, offers an attractive investment opportunity for both local and foreign investors.

“Prime ground floor F&B units are incredibly scarce as the government tightens strata sub-division rules in Singapore,” said Tania Ong , senior manager of Capital Markets at Knight Frank Singapore.

“The property’s single ground floor unit location also enhances its investment value since most new retail developments are no longer sub-divided, such properties are highly sought after by F&B investors or end-users," she added.

The tender closes on 23 July at 3:00 PM.

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