Jalan Besar freehold coffeeshop up for sale with S$28 million guide price

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Lean Jinghui | August 20, 2022, 02:09 PM

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The price at which coffeeshops in Singapore are changing hands has been a hot topic of late.

On Aug. 17, real estate agency Savills Singapore announced that a two-storey freehold coffee shop unit in Jalan Besar has also been put up for sale at a S$28 million guide price.

The coffeeshop unit is currently listed for sale via an Expression of Interest (EOI) exercise.

S$6,208 psf, lower than coffeeshops sold at Tampines and Yishun

51 Kopitiam is located at Hoa Nam building and spans approximately 4,510 sq ft.

This translates to a psf price of S$6,208.

In comparison, the Tampines coffeeshop that was sold at a record S$41.6 million in June had a psf price of S$6,964, while another Yishun coffeeshop sold in the same month had a psf price of S$9,361.

The ground floor of the Jalan Besar coffeeshop currently has six food stalls and one drinks stall.

It also has an upper level, which can be accessed via an internal staircase or external building escalator.

This allows the buyer to reconfigure the space on the upper floor, Savills added.

Via Google Maps

Property zoned for commercial use

Sophia Lim, Associate Director of Investment Sales & Capital Markets at Savills Singapore, said that freehold coffeeshops are often viewed as "generational assets", and the coffeeshop thus provides a "rare opportunity" to acquire a freehold coffee shop with "prominent frontage and visibility" along Jalan Besar.

According to Google Maps, 51 Kopitiam is situated close to Bendemeer and Farrer Park MRT stations, as well as Jalan Besar stadium.

As the property is zoned for commercial use under the URA Master Plan 2019, it is not subject to additional buyers' stamp duties (ABSD) or seller stamp duties.

Foreigners and companies will be eligible to purchase the coffee shop as well, the press release added.

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Top image via Google Maps