When it comes to investing in property in Singapore, it is crucial for foreign investors to have a good grasp of the regulations and restrictions in place. In comparison to landed properties, which have more stringent ownership guidelines, foreigners can purchase condos with less limitation. However, it is worth noting that foreign buyers are still required to pay the ABSD, which is currently set at 20% for their initial property acquisition. Nevertheless, despite this added cost, the stability and potential for growth in Singapore’s real estate market remains a strong draw for foreign investment. This is evident in the continued interest and involvement of foreign investors in various Singapore projects.
Located in the bustling area of Choa Chu Kang, a coffee shop at 253 Choa Chu Kang Ave 1 is now available for purchase through expression of interest (EOI) with a guide price of $11 million. The spacious shop covers an area of 2,540 sq ft and is situated within the popular Keat Hong Shopping Centre, a two-storey HDB commercial complex that houses numerous food stalls, a supermarket, and other shops.
This commercial property is zoned for commercial use and boasts a 99-year leasehold tenure with 68 years remaining. Positioned on the ground floor, it is currently rented out to a coffee shop operator and consists of seven food stalls and a drink stall. The location of Keat Hong Shopping Centre can be seen on the map below (Source: EdgeProp LandLens).
According to Jervis Isaiah Ng, the founder of JNA Real Estate, a team under PropNex Realty, potential buyers have the option to personally operate the coffee shop, renovate and lease it out, or continue leasing it to another coffee shop operator. JNA Real Estate has been appointed as the exclusive marketing agent for the property. It is worth noting that the property does not include living quarters, which makes it exempt from Additional Buyer’s Stamp Duty.
Keat Hong Shopping Centre is conveniently located within walking distance from 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. Other amenities, such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market, are also in close proximity.
Interested parties can submit their expressions of interest by Dec 22 at 3pm.