An opportunity has arisen for buyers interested in purchasing a coffee shop located at 253 Choa Chu Kang Ave 1. This property is currently up for sale through the process of expression of interest (EOI) and is being marketed with a guide price of $11 million. The coffee shop occupies a total area of 2,540 sq ft and is situated within Keat Hong Shopping Centre, a two-storey commercial development by HDB that features a range of amenities such as other coffee shops, a supermarket, and various shops and stalls.
The commercial property is zoned for commercial use and boasts a 99-year leasehold tenure with 68 years remaining. It is situated on the ground floor and is currently leased out to a coffee shop operator, housing seven food stalls and a drink stall.
According to Jervis Isaiah Ng, founder of JNA Real Estate, a team under PropNex Realty, potential buyers have the option of personally managing the coffee shop, refurbishing and leasing out the property, or continuing to rent it out to coffee shop operators. JNA Real Estate has been exclusively appointed as the marketing agent for the property.
For those interested in investing in Singapore’s property market, understanding the regulations and limitations surrounding property ownership is crucial. While purchasing a condominium may be straightforward for overseas investors, the rules for buying landed properties are more stringent. Additionally, foreigners must also factor in the Additional Buyer’s Stamp Duty (ABSD) of 20% when purchasing their first property. However, the continuous growth and potential of Singapore’s real Condo industry continue to attract foreign buyers to invest in condominiums.
On a positive note, Ng added that the buyer will not be liable for Additional Buyer’s Stamp Duty as the property does not come with living quarters.
Keat Hong Shopping Centre is conveniently located within walking distance of South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line set to be completed in 2027. Additional amenities nearby include Choa Chu Kang Primary School and the recently refurbished Choa Chu Kang West Market.
Interested parties can look forward to submitting their expression of interest by December 22 at 3pm.