OrangeTee
Advisory Pte Ltd (OrangeTee Advisory) is pleased to announce that an HDB coffee
shop located at Block 110 Yishun Ring Road is up for sale via expression
of interest (EOI) at a guide price of $11 million. OrangeTee Advisory is the
sole marketing agent for the property.
The EOI
exercise will close on Wednesday, 29 May 2024 at 3 pm.
The property has a
91-year leasehold that started on January 1, 1994. It has 60 years remaining on its lease. The corner 3,165 sq. ft.
coffee shop with a living quarter of about 689 sq. ft. has prominent street
frontage along Yishun Ring Road, within Chong Pang Garden.
The immediate
locality is residential with prominent developments in the vicinity comprising
Sembawang Seng Pang Keng Temple, All Saints Home (Yishun Centre), Chong Pang
Community Club, Yishun Innova Junior College, Yishun Christian Church, Yishun
Secondary School, Chong Pang Camp, amongst others.
Scarce coffee shop assets in
Singapore
Since 1998, the
Housing Development Board (HDB) has ceased the sale of coffee shops, resulting
in a limited supply of such properties available in the market. Despite
challenges posed by the pandemic, the enduring popularity of coffee shops
persists, buoyed by increased dining-out habits and a surge in demand for
F&B spaces. an attractive
investment option to both F&B operators and property investors.
In addition, the
coffee shop will be sold with vacant possession, allowing potential buyers to
revamp it with new ideas and fresh concepts. With a ready catchment of resident
customers who live in the vicinity and nearby industrial workers, this presents
a good opportunity for potential buyers to leverage or prospective investors
seeking a good investment opportunity.