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The HDB shop at Tampines Street 91 features a ground floor space of 4,058 sq ft and a 786 sq ft living quarters on the second storey. (Photo: Knight Frank Pte Ltd)
Three retail shops in key areas in Singapore have been launched for sale by expression of interest, revealed Knight Frank.
Two of the retail shops are located within mature HDB estates, while the other is a private shop situated right next to Joo Chiat Complex.
The HDB shop at Tampines Street 91 features a ground floor space of 4,058 sq ft and a 786 sq ft living quarters on the second storey. An outdoor refreshment area of 969 sq ft has also been approved for the corner coffeeshop to create an extended dining area, which currently comprises one drink stall and 10 food stalls.
“Well-located coffeeshops and F&B outlets serving good cuisine are generally crowd pullers and are actively sought after by both investors and food operators,” said Knight Frank Singapore investment and capital markets executive director Mary Sai.
“The last transaction of a coffeeshop in the vicinity was at Block 829 Tampines Street 81, which changed hands for S$14.55 million in April 2016. As such, the vendors for the subject property hope to achieve offers of between S$14 million to S$16 million for the property.”
With a total floor area of 1,636 sq ft, the other HDB shop at Block 709 Ang Mo Kio Avenue 8 comprises an 893 sq ft ground floor shop space and a 743 sq ft living quarters. The shop carries a guide price of between S$5.5 million and S$6 million.
Meanwhile, the private shop next to Joo Chiat Complex is a ground floor strata retail unit with an accompanying basement. With a floor area of 3,207 sq ft, the freehold shop enjoys high human traffic as it fronts the main stretch of Changi Road. As such, the owners expect around S$6.5 million for the space.
“As all the three shops are tenanted and in good locations, they will appeal to investors looking for recurring income,” said Sai.
The expression of interest exercise for the shops will close on 26 September.
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