A notable coffee shop in the Choa Chu Kang area is looking for new owners as it is now up for sale via an expression of interest (EOI). Located at 253 Choa Chu Kang Ave 1, the coffee shop has a guide price of $11 million and occupies a spacious 2,540 square feet within the Keat Hong Shopping Centre.
The Keat Hong Shopping Centre is a two-storey HDB commercial development that houses a variety of shops, stalls, and other amenities such as a supermarket. The property is zoned for commercial use, and it holds a 99-year leasehold tenure with 68 years remaining. The coffee shop is situated on the ground floor and is currently leased to a coffee shop operator, featuring seven food stalls and a drink stall.
According to Jervis Isaiah Ng, founder of JNA Real Estate, which is a team under PropNex Realty, potential buyers can choose to run the coffee shop themselves, renovate and lease it out, or continue leasing it to coffee shop operators. JNA Real Estate has been appointed as the exclusive marketing agent for this property.
Additionally, Ng highlights that there are no living quarters within the property, making it exempt from Additional Buyer’s Stamp Duty.
The 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, which is set to be completed in 2027. Other nearby amenities include Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market.
The EOI for this property will close on December 22 at 3pm.
When making the decision to invest in a condominium, it is important to carefully consider the maintenance and management aspect of the property. Condos generally come with maintenance fees that are used for the upkeep of shared spaces and amenities. While these fees may contribute to the overall expenses of owning a condo, they also play a crucial role in preserving the property’s value. One way to ease the burden of managing a condo is by hiring a property management company, turning it into a more passive investment. This applies not just to local properties, but also to Singapore Projects as well.