A freehold coffee shop on Jalan Besar is for sale at a suggested price of S$28 million

Aug 18, 2022

SAVILLS Singapore, the exclusive marketing agency, revealed on Thursday that a 2-STORY freehold coffee shop unit at Hoa Nam Building is looking for takers at a S$28 million guide price via an expression of interest (EOI) activity (Aug 18).

Because the coffee shop is categorized "commercial" under Singapore's land use plan, it is not subject to additional buyer's or seller's stamp duties. Foreigners and businesses will be able to purchase it.

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

The lower floor features 6 food and 1 drink stall, while the upper level is accessible through an internal staircase or an external building escalator connecting to the front of the unit. According to Savills, the new buyer can reconfigure the upper-level space for more seating or subdivide it to be leased out separately to increase rental income.

According to Sophia Lim, associate director of investment sales and capital markets at Savills, freehold coffee shops have long been viewed as generational assets and are typically held tightly. The coffee shop asset class is extremely appealing, owing to its endurance during the pandemic and the present food and beverage sector rebound.

Lim also mentioned that there are 1,650 forthcoming HDB build-to-order units in the area.

The EOI exercise will end on September 21 at 3 p.m.