Savills Singapore, as the exclusive sole marketing agent, is pleased to offer for sale a freehold coffeeshop located at 936 East Coast Road, via an Expression of Interest (EOI) exercise.
Enjoying a prominent street frontage and strong visibility along East Coast Road, 936 East Coast Road has a gross floor area of approximately 6,884 sq. ft. with an estimated existing built-up area of approximately 3,939 sq. ft. The ground floor has rare F&B approval and is currently leased to a coffeeshop operator, whilst the upper floor is utilized as residential quarters for the employees of the coffeeshop operator.
The ground floor coffeeshop consists of 12 food stalls and 1 drink stall. The layout is regular and efficient, with all stalls enjoying a good line of sight from the entrance. There is ample seating area within the property and a large alfresco seating area fronting the land plot which can accommodate up to 45 tables.
Under the Master Plan 2019, 936 East Coast Road is zoned as “Residential with Commercial” (on the ground floor) with a Gross Plot Ratio of 3.0 and a building height control of 4 storeys.
Nestled within the affluent District 15, the property has strong redevelopment potential and the incoming buyer can redevelop the property into a boutique residential project with ground floor commercial units housing lifestyle retail or destinations cafes.
The site enjoys excellent accessibility, with easy access to the East Coast Parkway and Pan Island Expressway and connectivity will be further enhanced with the upcoming Siglap MRT station (TE28) on the new Thomson-East Coast line slated for completion in 2024.
Renowned schools including Victoria School, Victoria Junior College, St Patrick’s School, CHIJ Katong Convent and Temasek Junior College are nearby. A myriad of amenities including Siglap Centre, Bedok Mall, Bedok Heartbeat, Parkway Parade and Parkway East Hospital is available in the immediate vicinity.
Ms Sophia Lim, Associate Director, Investment Sales & Capital Markets at Savills Singapore, said: “The coffeeshop asset class has gain significant interest in recent times due to its strength and resilience in all market cycles. In the past 12 months, owner-operators have been expanding their coffeeshop portfolio while foreign investors have also began exploring this asset class. Transaction volumes and inquiries remain strong and we expect the momentum to continue further.”
“Given the freehold tenure of the property and it is sitting atop prime development land in District 15, an incoming buyer can enjoy the flexibility of holding the property for rental revenue or choose to land bank for future redevelopment,” added Ms Lim.
The guide price for the property is at $22.8 million. The sale will be conducted through an Expression of Interest (EOI) exercise which closes on Tuesday, 22 November 2022, at 3pm.