Property
HDB coffee shop in Yishun up for sale at S$11 million
OrangeTee Advisory announced the availability of an HDB coffee shop for sale at Block 110 Yishun Ring Road with a guide price of S$11 million, inviting bids until 29 May.
SINGAPORE: OrangeTee Advisory, a real estate brokerage firm, announced on 6 May the availability of an HDB coffee shop at Block 110 Yishun Ring Road for sale, with a guide price set at S$11 million (approximately US$8 million).
The sale will be conducted through an expression of interest (EOI) exercise, scheduled to conclude on 29 May at 3 pm.
During an EOI sale, the seller specifies a deadline for prospective buyers to submit their bids, as is the case with this coffee shop sale.
Marcus Oh, managing director of OrangeTee Advisory, emphasized that the guide price reflects the expectations of the current coffee shop owners.
“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,” Oh said.
OrangeTee disclosed that the property holds a 91-year leasehold commencing from 1 January 1994, with 60 years remaining on its lease.
The coffee shop occupies 3,165 square feet and boasts prominent street frontage along Yishun Ring Road.
Situated in close proximity to local amenities, the coffee shop enjoys easy access to facilities such as Chong Pang Community Club.
Additionally, nearby educational institutions like Yishun Innova Junior College and Yishun Secondary School, as well as places of worship including Sembawang Seng Pang Keng Temple and Yishun Christian Church, contribute to its strategic location.
“Investment opportunity”
In its press release, OrangeTee highlighted the rarity of properties like the Block 110 Yishun Ring Road coffee shop, attributing this scarcity to the Housing Development Board’s cessation of coffee shop sales since 1998.
This move has led to a limited supply of such properties in the market.
Despite the 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.
OrangeTee described the coffee shop as a promising investment opportunity, noting its steady patronage by nearby residents and industrial workers.
Such factors make it an attractive option for both F&B operators and property investors alike.
Moreover, the coffee shop will be sold with vacant possession, enabling potential buyers to introduce new ideas and fresh concepts.
This sale follows a trend of multi-million dollar coffee shop transactions in recent years.
Over the past two years, at least three other coffee shops have changed hands for sums exceeding S$40 million (US$29.5 million), located in Serangoon, Yishun, and Tampines.
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It’s all heading in one direction, … on the up and up, … and up some more !!!
Million dollar hdb resales will be the base price for NGCPH (non~good class public housing), million dollar plus plus kopitiams and not to be outdone, … in your neighbourhood, velly velly soon, … … 200k plus COE’s !!!
Everything in the city state is progressing, … ahead of the much celebrated and trumpeted progressive wage model leh !!!
Singaporeans can only look with trepidation on the impact of food prices once the new owners take over.
And the G seems oblivious to said impact.
Singaporeans must rise to the occasion and send a message to the PAP at the next GE. It is only when they lose the two thirds majority will they feel the pain and take our views more seriously.
Built with Taxpayer monies, yet sold as “private” property to the highest bidder.
Truly in the spirit of “Privatising profits and socialising loses.” What do the taxpayers get?
Better yet, do the original landowners that lived there before the ruling government seized the land see a single cent?
DL take note. This was originally purchased with taxpayers’ monies as subsidies. Now the same taxpayers will have to pay more for their food because the PAP diverted from GKS and LKS’s original plan to keep HDB isolated from inflation to protect true blue Singaporeans. Please remove Real Estate agents from all HDB transactions. Put up a website for sale under the Ministry. This should correct the market and stop the runaway prices. It will also revert ownership to those who were intended.
There are even higher price elsewhere. That’s why today we are drinking coffee or tea cost price only 10 cent but paying $1.50 to $2 at coffeeshops.
Someone have to pay these rich owners and speculators for their money spent buying it, from all of us consumers