Coffeeshop on Jalan Besar is available for sale with a suggested price of S$28 million

Aug 18, 2022

Savills Singapore, the exclusive marketing agency, said on Thursday that a two-story, freehold coffee shop unit at the Hoa Nam Building is accepting expressions of interest at a guide price of S$28 million (Aug 18).

Due to its "business" zoning in Singapore's land use plan, the coffee shop is not subject to any additional buyers' or sellers' stamp duties. It will be available for purchase from both firms and foreigners.

It is close to the Bendemeer and Farrer Park MRT stations, with F&B permissions on both floors, and has a total stratum floor area of 4,510 square feet, according to Savills.

Six food stands and one drink stand are located on the ground floor, and an internal stairway or an escalator located outside the building can be used to reach the upper level. The upper-level room can either be divided into individual apartments to increase rental income or reconfigured for more seating, according to Savills.

According to Sophia Lim, associate director of investment sales and capital markets at Savills, freehold coffee shops have long been seen as generational assets and are frequently held securely. Given its durability during the epidemic and the present rebound in the food and beverage industry, the coffee shop asset class is also appealing.

Lim also mentioned that 1,650 HDB build-to-order units will be constructed nearby.

The EOI exercise will close on Sep 21 at 3 pm.