An expression of interest (EOI) has been issued for the sale of a coffee shop located at 253 Choa Chu Kang Ave 1. The property, which is up for sale with a guide price of $11 million, occupies a prime location within Keat Hong Shopping Centre. The two-storey HDB commercial development boasts a range of amenities including coffee shops, a supermarket, and other shops and stalls.
The coffee shop, which spans 2,540 sq ft, is zoned for commercial use and boasts a 99-year leasehold tenure with a remaining balance of 68 years. It is currently leased to a coffee shop operator and comprises of seven food stalls and one drink stall. According to Jervis Isaiah Ng, founder of JNA Real Estate, which is a team under PropNex Realty, the property presents potential buyers with the opportunity to operate the coffee shop themselves, renovate and lease out, or continue leasing to coffee shop operators. JNA Real Estate has been appointed as the exclusive marketing agent for the property.
One of the main selling points of this property is that it does not have living quarters, making it exempt from Additional Buyer’s Stamp Duty. Keat Hong Shopping Centre is well-connected, with South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, which is expected to be completed in 2027, just a short walking distance away. Other amenities such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market are also in close proximity.
When it comes to investing in a Singapore condo, securing financing is a crucial consideration. With various mortgage options available, it is important to take note of the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can take based on their income and outstanding debt obligations. To make sound financing decisions and avoid being over-leveraged, it is essential to have a good understanding of the TDSR. Seeking guidance from financial advisors or mortgage brokers can also be helpful in navigating this aspect of investing in a Singapore Condo.
The EOI for the coffee shop will close on December 22 at 3pm.