For sale is a two-storey freehold coffee shop along Jalan Besar

A two-storey, freehold coffee shop situated in Hoa Nam Building on Foch Road in the Jalan Besar district is to auction through the expression of interest. According to the the marketing agency Savills Singapore, the property is listed for sale with the price range that is $28 million.

Lentor Hills Residences new launch is located in one of the most attractive areas exclusively set for residential.

The property is designated for commercial use and has the strata floor space of 4,510 square feet. The two floor of this property are equipped with F&B approvals. The ground floor is currently comprised in six food and beverage stalls as well as 1 drink stand. The upper level can be accessible through an internal staircase from the ground floor, or from an external ramp.

The property has a 40m frontage on Jalan Besar, and it is also accessible via Foch Road. The current owner also received approval by the MCST to put up signs on the facade of the building.
Hoa Nam Building is a mixed-use building that comprises 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 for Savills Singapore, views the coffee shop as an attractive opportunity due to the limited availability of properties located on Jalan Besar. “Freehold coffee shop units have been seen as assets that can be passed down through generations and are typically held in a tight manner,” she adds.

Coffee shops within The Jalan Besar area are anticipated to profit from the buoyant F&B attitude that emerged from the pandemic. Likewise, the upcoming HDB Build-To-Order (BTO) developments within the Kallang-Whampoa Estate are predicted to expand Jalan Besar’s bessar’s captive population.

“With the recent sales in HDB leasehold cafes that have sold at high prices, this property presents a rare chance to purchase the freehold of a coffee shop with high visibility and a prominent frontage within the fast-growing area that is Jalan Besar,” Lim adds.

The exercise to express interest for the property is due to close on September 21 at 3pm.