Ever wanted to own a coffee shop?

If you have S$11 million or more lying around, you might be able to make it happen.

Real estate brokerage firm OrangeTee Advisory announced on May 6 that an HDB coffee shop located at Block 110 Yishun Ring Road is up for sale at a guide price of $11 million.

The sale will be done through an expression of interest (EOI) exercise, which will end on May 29 at 3pm.

What to know before buying

In an EOI sale, the seller announces a deadline for buyers to submit their bids, which in this case is May 29.

Said Marcus Oh, managing director of OrangeTee Advisory:

"The guide price represents the expectation set by the current coffee shop owners, and the property will be sold with vacant possession. Potential buyers could revamp it with new and fresh concepts that will appeal to the ready pool of customers. The coffeeshop is already popular with surrounding residents, and those who work nearby.”

According to OrangeTee, the property's 91-year leasehold started on Jan. 1 1994, giving it 60 years remaining on its lease.

The kopitiam spans 3,165 square feet and has "prominent street frontage" along Yishun Ring Road.

The coffee shop is just a stone's throw from local facilities like Chong Pang Community Club.

Also nearby are educational institutions like Yishun Innova Junior College and Yishun Secondary School and places of worship such as Sembawang Seng Pang Keng Temple and Yishun Christian Church.

Not the first multi-million dollar coffee shop deal

This would not be the first multi-million dollar kopitiam deal recently.

In the last two years, at least three other coffee shops have changed hands for over $40 million: in Serangoon, Yishun, and Tampines.

In its press release, OrangeTee described properties like this one as "scarce", attributing it to the Housing Development Board ceasing the sale of coffee shops since 1998.

It also touted the coffee shop as a good investment opportunity, highlighting its steady patronage by nearby residents and industrial workers.

In a written reply to Parliamentary questions in 2022, the Ministry of National Development said that since 2010, around 15 coffee shops change hands each year.

However, only around 30 per cent of them sell for $10 million or higher, said the ministry.

Top photo via Google Street View