Freehold coffee shop at Jalan Besar up for sale at $28 mil

Hoa Nam Building is a mixed-use project consisting of residential, office and retail units. It is within walking distance to Bendemeer MRT Station on the Downtown Line as well as Farrer Park MRT Terminal on the North East Line.

The building takes pleasure in 40m frontage along Jalan Besar, as well as can also be accessed from Foch Road. The present business owner has also obtained approval from the MCST to put finalizing boards on the structure’s facade.

Midtown Modern condominium

A two-storey property coffee bar unit situated at Hoa Nam Structure along Foch Roadway in the Jalan Besar local area is up for sale through an expression of interest exercise. Accordingly to advertising and marketing agent Savills Singapore, the property gets on the marketplace with an overview cost of $28 million.

“With the recent deals of HDB leasehold cafe at record prices, this asset gives a rare chance to get a property coffeehouse delighting in noticeable frontage and also visibility within the fast-evolving place of Jalan Besar,” Lim says.

Sophia Lim, associate director, financial investment sales & capital markets at Savills Singapore, sees the cafe unit as a compelling opportunity given the unusual schedule of such properties on Jalan Besar. “Freehold cafe units have long been viewed as generational assets as well as are often securely held,” she adds.

Coffee bar in the Jalan Besar district are expected to benefit from the resilient F&B view appearing of the pandemic, while upcoming HDB Build-To-Order (BTO) projects in the nearby Kallang-Whampoa estate are also predicted to boost Jalan Besar’s restricted catchment.

The property, which is zoned for profitable usage, has a total strata floor area of 4,510 sq ft. Both floors of the property have F&B authorizations. The ground floor presently contains six food stalls as well as one beverage delay. The upper flooring can be accessed using an inner stairs from the ground floor or from an external escalator.

The expression of interest exercise for the property will close on Sept 21 at 3pm.

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