Jalan Besar freehold coffeeshop up for sale with $28m guide price
The property is located at Hoa Nam Building.
A store freehold coffeeshop unit located at Hoa Nam Building is up for sale via an Expression of Interest (EOI) exercise with a guide price of $28m.
Enjoying a prominent 40-metre street frontage along Jalan Besar, the coffeeshop unit also has access from Foch Road and commands high visibility and strong footfall throughout the day. The coffeeshop unit has rare F&B approvals on both levels and occupies a total strata floor area of approximately 4,510 sq ft. The current owner has obtained approval from the MCST to place signage boards on the building’s façade, prominently along Jalan Besar Road.
The ground floor consists of a total of six food stalls and one drink stall. The upper floor level has rare F&B approval and can be accessed two ways - either via an internal staircase directly from the ground floor or from an external building escalator leading directly to the front of the unit. This opportunity offers the incoming buyer flexibility to reconfigure the upper-level space for an additional seating area or subdivide it to be leased out separately to increase rental income.
The property also has accessibility with two MRT stations, Farrer Park (NE8) and Bendemeer (DT23), located within walking distance. It is also seamlessly connected to key precincts in Singapore, with the CBD and Orchard Road Shopping Belt within a ten minutes drive.
As the property is zoned ‘’Commercial’’ under the 2019 Masterplan, it is not subject to Additional Buyers’ Stamp Duties or Seller Stamp Duties. Foreigners and companies will be eligible to purchase.
The sale will be conducted through an Expression of Interest (EOI) exercise which closes on 21 September 2022, at 3pm. Savills Singapore is the exclusive sole marketing agent for this property.