While kopitiams offer cheap and warm meals to fill our stomachs, their worth is usually far more than expected.
F&B chain K2 F&B Holdings is eyeing a coffee shop in Jurong West and is reportedly offering a whopping $31 million to buy it, according to Shin Min Daily News.
However, its chairman and CEO Mr Winston Chu said it is currently too early to discuss the potential deal.
The coffee shop in question is Coffee United, located at Block 496 Jurong West Street 41.
While there are claims that K2 F&B Holdings made a $31 million offer, Mr Chu said that he would neither “confirm nor deny the offer”, according to The Straits Times (ST).
He believes that other buyers are also eyeing the coffee shop if the owners are willing to put it on sale. Thus, it is too early to comment on any plans.
Furthermore, they will have to wait for at least 9 months before any deal can go through.
With a $31 million price tag on, Coffee United will be one of the priciest coffee shops located in a Housing Development Board (HDB) estate.
ST added that a coffee shop in Bukit Batok was bought for the same price in 2015.
Coffee United is said to enjoy good traffic since it is close to the road and many shops. There are schools and a community club nearby as well.
In addition, there are 60 years remaining on the land lease.
These factors provide a great advantage for the shop, which sees most of its tables occupied during peak dining periods.
Given that Coffee United could potentially be sold at a high price, many netizens worry that the store owners will raise costs.
Another netizen added that it would be good to start packing lunches if prices do go up.
We’re keeping our fingers crossed that the prices won’t be sky high too.
What do you think about the potential sale? Let us know in the comments below.
Featured image adapted from Foursquare.
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