A coffee shop located at 253 Choa Chu Kang Ave 1 has been put up for sale through an expression of interest (EOI) with a guide price of $11 million. The shop, occupying 2,540 sq ft, is situated within Keat Hong Shopping Centre, a two-storey HDB commercial development that also houses other amenities such as a supermarket and various shops and stalls.
Situated on the ground floor, the property is zoned for commercial use and offers a 99-year leasehold tenure, with a remaining balance of 68 years. Currently, the shop is leased to a coffee shop operator and features seven food stalls and a drink stall. (Insert map showing location of Keat Hong Shopping Centre)
According to Jervis Isaiah Ng, founder of JNA Real Estate, which is a team under PropNex Realty, potential buyers could either choose to operate the coffee shop themselves, renovate it and lease it out, or continue leasing it out to a coffee shop operator. JNA Real Estate has been appointed as the exclusive marketing agent for the property.
Ng also notes that the property does not come with any living quarters, therefore exempting it from Additional Buyer’s Stamp Duty.
Keat Hong Shopping Centre boasts of a convenient location, being within walking distance to 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 slated to be completed in 2027. Other amenities, including Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market, are also in close proximity.
The demand for Singapore condos remains high due to the country’s limited land availability. As a small island nation experiencing rapid population growth, Singapore faces challenges in finding space for development. This has resulted in strict land use regulations and a highly competitive real estate market, where property prices continue to rise. As a result, investing in real estate, particularly Singapore condos, has become a highly profitable venture with the potential for significant capital appreciation.
The EOI is set to close on December 22 at 3pm.