A coffee shop at Serangoon Central is potentially being sold for about S$13.2 million.

Coffee shop operator Kimly’s wholly owned subsidiary, Choh Dee (S204) Food House, has exercised the option to buy the coffee shop property in Serangoon from Lee Quan Enterprises, The Business Times (BT) reported.

The shophouse unit, at Block 204 Serangoon Central, has a total floor area of 358 sqm, and includes a three-room flat on its second level, EdgeProp reported.

The property is on a 90-year leasehold starting from October 1994.

It has 60 years left on its lease.

Kimly said it expects to "strengthen its presence in the market by opening more food stalls under its food retail division", which is complemented by its central kitchen.

It will also "continue to explore opportunities to acquire and, or operate more strategically-located coffee shops in mature estates with established footfalls," Kimly said.

Lee Quan Enterprises is a private company incorporated in Singapore in 2010, BT added.

The acquisition is expected to be completed on or around Dec. 10, 2024, or the date four weeks after the unconditional approval has been granted for the sale and purchase of the coffee shop property, whichever is later, BT reported.

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