If you’ve ever dreamt of owning your own coffeeshop and have the financial means to make it happen, this could be your chance.
Real estate brokerage firm OrangeTee Advisory has announced that a kopitiam at Block 110 Yishun Ring Road is up for sale.
The asking price? S$11 million.
With 60 years left on its lease, the shop will be sold with vacant possession.
In a press release issued on Monday (6 May), OrangeTee Advisory disclosed that the property’s 91-year leasehold commenced on 1 January 1994.
Source: Google Maps
Nestled on a corner lot, the establishment spans a generous 3,165 square feet and has a living quarter encompassing approximately 689 square feet.
It is near residential developments and landmarks such as Sembawang Seng Pang Keng Temple, Chong Pang Community Club, Yishun Innova Junior College, and Chong Pang Camp.
Source: Google Maps
The expression of interest (EOI) exercise will conclude on 29 May at 3pm.
Marcus Oh, Managing Director of OrangeTee Advisory, explained that the guide price of S$11 million reflects the current owners’ expectations.
Since the property will be sold with vacant possession, prospective buyers have the freedom to revamp it with new and fresh concepts.
He also noted that the coffeeshop is popular among nearby residents and workers alike.
OrangeTee highlighted the scarcity of coffeeshop offerings in the market, especially since the Housing and Development Board (HDB) ceased sales in 1998.
Despite this, coffeeshop investments remain attractive due to their low maintenance costs.
Increased dining-out habits and a surge in demand for food and beverage (F&B) spaces continue to bolster the enduring popularity of coffeeshops.
Recent transactions involving three coffeeshops in Yishun, Tampines, and Serangoon have each fetched a minimum of S$40 million.
However, some industry observers speculate that resale prices for coffeeshops might experience a decline this year, 8world reported.
Also read: Serangoon Kopitiam Allegedly Sells For S$40.5M, 3rd Coffeeshop Transaction To Cross S$40M Mark
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Featured image adapted from Google Maps.
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