SINGAPORE: A well-established coffee shop located at the void deck of Block 110, Yishun Ring Road, is seeking a buyer, with a guide price of $11 million.
Real estate agency OrangeTee Advisory, the exclusive marketing agent, announced this week that the owner is seeking a buyer through an expression of interest (EOI) exercise, which will close on 29 May at 3 pm.
The coffee shop, which started on Jan 1, 1994, has a 91-year leasehold and 60 years remaining.
This spacious property, covering 3,165 sq. ft. with an additional 689 sq. ft. for living quarters, is located at the corner of Yishun Ring Road and boasts prominent street frontage, enhancing its visibility and accessibility.
Situated within Chong Pang Garden, the coffee shop enjoys a steady stream of customers from the surrounding residential and industrial areas.
The coffee shop is positioned amidst several key landmarks, including the Sembawang Seng Pang Keng Temple, All Saints Home (Yishun Centre), Chong Pang Community Club, Yishun Innova Junior College, Yishun Christian Church, Yishun Secondary School, and Chong Pang Camp.
This locality provides a ready catchment of residents and nearby industrial workers, presenting an attractive opportunity for potential buyers or investors.
Since 1998, the Housing Development Board (HDB) has ceased the sale of coffee shops, leading to a limited supply of such properties in the market.
This rarity, coupled with coffee shops’ enduring popularity, even amid the challenges posed by the pandemic, has made these assets highly attractive.
Increased dining-out habits and a surge in demand for food and beverage (F&B) spaces have further contributed to coffee shops’ allure. Their low maintenance costs also make them appealing to F&B operators and property investors.
An interesting aspect of this sale is that the coffee shop will be sold with vacant possession, offering potential buyers the freedom to revamp the space with new ideas and fresh concepts.
This flexibility can attract entrepreneurs looking to establish a unique coffee shop experience or investors who leverage the ready customer base and strategic location.