Jalan Besar freehold coffee shop up for sale at S$28m guide price

A 2-STOREY freehold coffee shop unit at Hoa Nam Building is looking for takers at a S$28 million guide price via an expression of interest (EOI) exercise, sole marketing agent Savills Singapore announced on Thursday (Aug 18).

The coffee shop is not subject to additional buyers’ stamp duties or seller stamp duties, as it is zoned “commercial” under Singapore’s land use plan. Foreigners and companies will be eligible to purchase it.

Located near the Farrer Park and Bendemeer MRT stations, it has F&B approvals on both levels and occupies a total strata floor area of 4,510 square feet, Savills said.

The ground floor has 6 food stalls and 1 drinks stall, while the upper level can be accessed via an internal staircase or external building escalator leading to the front of the unit. The incoming buyer can choose to reconfigure the upper-level space for additional seating or subdivide it to be leased out separately to boost rental income, Savills noted.

Freehold coffee shops have long been viewed as generational assets and are typically held tightly, said Sophia Lim, associate director of investment sales and capital markets at Savills. The coffee shop asset class is also attractive, given its resilience during the pandemic and current recovery in the food and beverage sector.

Additionally, there are 1,650 upcoming HDB build-to-order units in the vicinity, Lim noted.

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The EOI exercise will close on Sep 21 at 3 pm.