Hoa Nam Building 40m frontage of two-storey freehold coffee shop unit if for sale at $28 mil
A two-storey , freehold coffee shop located in the Hoa Nam Building on Foch Road in the Jalan Besar region is available for sale through an express of interest. According to market agents Savills Singapore, the property is listed for sale with the price range that is $28 million.
The property is designated for commercial use with an overall strata floor area of 4,510 sq feet. The two floor of this property are equipped with F&B approvals. The ground floor is currently comprised of seven food stands, and an alcohol stall. The upper level can be accessible through an internal staircase from the ground floor or via an external ramp.
The property is situated on Jalan Besar, and is accessible via Foch Road. The current owner also obtained permission by the MCST to put up signs on the facade of the building.
Hoa Nam Building is a mixed-use project that includes retail, office and residential units. It is walking distance of Bendemeer MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
Sophia Lim, associate director of investment sales and capital markets with Savills Singapore, views the coffee shop as an attractive opportunity due to the rarity of properties situated on Jalan Besar. “Freehold coffee shops have been considered to be assets of the future and are typically held in a tight manner,” she adds.
Coffee shops within The Jalan Besar Precinct anticipated to profit from the buoyant F&B attitude that emerged from the pandemic. In addition, the coming HDB Build-To-Order (BTO) developments in the adjacent Kallang-Whampoa Estate are predicted to expand Jalan Besar’s population of captives.
“With the recent sale that have sold HDB leasehold cafes that have sold at high prices, this property offers a unique chance to purchase an unfreehold coffee shop that has an impressive frontage and visibility in the rapidly growing area in Jalan Besar,” Lim adds.
The expression of interest process for the property will end on September 21 at 3pm.