A two-storey freehold coffeeshop in Jalan Besar is currently in the market for S$28 million.
Real estate agency Savills Singapore announced on Aug 18 that the property is listed for sale through an Expression of Interest (EOI) exercise.
“Enjoying a prominent 40m street frontage along Jalan Besar, the coffeeshop unit also enjoys access from Foch Road and commands high visibility and strong footfall throughout the day,” said Savills Singapore.
51 Kopitiam is located at the Hoa Nam building, spanning approximately 4,510 sq ft. It’s near Bendemeer and Farrer Park MRT stations and the Jalan Besar stadium.
The agency noted that the proper has rare Food and Beverage approvals on both levels. The current owner has acquired approval from the MCST (Management Corporation Strata Title) to place signage boards on the building’s façade, prominently along Jalan Besar Road.
The coffeeshop consists of six food stalls and one drink stall, with two access points, allowing the buyer to reconfigure the upper level for additional seating space.
“Freehold coffee shop units have long been viewed as generational assets and are usually tightly held. The coffee shop asset class has demonstrated its strength and resilience during the pandemic,” said Savills Singapore Associate Director of Investment Sales and Capital Markets Sophia Lim.
“With the broad easing of COVID-19 restrictions, diners have returned in droves and the positive sentiment has buoyed for F&B stall operators and investors alike.”
The area is expected to increase its captive catchment with the upcoming 1,650 Housing and Development Board BTO units from Mcnair Heights, Kempas Residence and Towner Crest.
“With the recent transactions of HDB leasehold coffeeshops at record prices, this asset provides a rare opportunity to acquire a freehold coffee shop enjoying prominent frontage and visibility within the fast-evolving location of Jalan Besar,” added Ms Lim.
As the property is zoned as “Commercial” under the 2019 URA (Urban Redevelopment Authority) Master Plan, it is not subject to Additional Buyers’ Stamp Duties or Seller Stamp Duties.
Foreigners and companies are also eligible to purchase the property. The EOI listing will close on Sept 21, 2022, at 3 pm./TISG
Buyer of S$41.6m Tampines kopitiam also buys nearby coffeeshop for S$16.8m, only 1 stall to stay