Freehold coffee shop at Jalan Besar up for sale at $28 mil
Hoa Nam Building is a mixed-use growth comprising residential, office as well as retail devices. It is within strolling distance to Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
A two-storey property cafe device situated at Hoa Nam Building along Foch Road in the Jalan Besar location is up for sale via an expression of rate of interest workout. Appropriately to advertising agent Savills Singapore, the residential or commercial property gets on the market with an overview cost of $28 million.
Map and also overview of Hoa Nam Building
The building, which is zoned for business usage, has an overall strata floor location of 4,510 sq ft. Both floorings of the residential property have F&B authorizations. The very beginning currently includes 6 food stalls as well as one beverage stall. The upper floor can be accessed through an internal stairs from the ground floor or from an external escalator.
The residential property appreciates 40m frontage along Jalan Besar, and also can also be accessed from Foch Road. The current owner has actually likewise obtained approval from the MCST to put finalizing boards on the building’s exterior.
Coffee bar in the Jalan Besar district are expected to benefit from the resilient F&B belief coming out of the pandemic, while upcoming HDB Build-To-Order (BTO) advancements in the neighboring Kallang-Whampoa estate are likewise anticipated to boost Jalan Besar’s captive catchment.
Sophia Lim, associate director, investment sales & funding markets at Savills Singapore, views the cafe unit as an engaging opportunity given the uncommon availability of such properties on Jalan Besar. “Freehold cafe systems have long been considered as generational properties as well as are typically firmly held,” she includes.
Marina Gardens Lane Residences
“With the recent transactions of HDB leasehold coffeehouse at document costs, this possession provides an unusual possibility to obtain a freehold coffeehouse delighting in famous frontage as well as exposure within the fast-evolving area of Jalan Besar,” Lim claims.
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