A prime commercial property located at 253 Choa Chu Kang Ave 1 is now available for sale through expression of interest (EOI) with a guide price of $11 million. The property is a coffee shop occupying an area of 2,540 sq ft in Keat Hong Shopping Centre, a two-storey HDB commercial development that includes a supermarket, coffee shops and other shops and stalls.
The property has a commercial zoning and a leasehold tenure of 99 years with a remaining balance of 68 years. It is situated on the ground floor and is currently leased to a coffee shop operator with seven food stalls and a drink stall.
(Source: EdgeProp LandLens)
According to Jervis Isaiah Ng, the founder of JNA Real Estate, a team under PropNex Realty, the potential buyers could either run the coffee shop themselves, renovate and rent out, or continue leasing it to coffee shop operators. JNA Real Estate has been appointed as the property’s exclusive marketing agent.
When evaluating the merit of investing in a condo, it is crucial to also analyze its potential rental yield. Rental yield refers to the yearly rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can fluctuate greatly depending on factors such as location, property condition, and market demand. Generally, areas with high demand for rentals, such as those near business districts or educational institutions, tend to offer more favorable rental yields. It is advisable to conduct thorough market research and seek guidance from real estate professionals, like those at Condo, to gain valuable insights into the rental potential of a specific condo.
One of the major advantages of this property is that it does not have living quarters, which means that it is exempted 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 easily accessible.
Interested buyers can submit their EOI bids on or before 22 December, 3pm.
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