October 15, 08:41 AM 
514 Chai Chee Lane 03-16, Singapore 469029 Pretty famous Halal eatery, Tong Seng Coffeeshop, located along North Bridge Road -- opposite Bugis Junction -- has closed down on Hari Raya Haji today.
On its last day of operations yesterday, the coffee shop gave out free food and drinks as a way to thank its customers after its 16-year run.
At least one mainstream media report has attributed the closure to a manpower shortage.
However, this is -- in all likelihood -- a secondary excuse. It's not even a real reason.
Because it was later revealed in the same media report that the Ong family who owns the coffee shop lucked out with their piece of prime real estate.
Get this: The Ong family bought the shophouse a decade ago for under $4 million.
People who dabble in real estate estimate that it could fetch between $15 million and $18 million today, as the family declined to reveal how much the property has been sold for.
That's a 400 percent increase.
Would any property owner choose the vagaries of F&B business or cash out on their property?
Tong Seng Coffeeshop is run by brothers Ong Choon Seng, 36, and Ong Choon Hui, 34.
Would they rather renovate the place, make it look more up to standard, jump through hoops to hire up to 40 workers, sell dirt cheap food that bring in paper thin margins and still have to deal with crappy food reviews?
Or sell the place and move to the Bahamas?
I would.
Top photo from here
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