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When investing in property in Singapore, it is crucial for foreign investors to be aware of the regulations and limitations surrounding ownership. While foreigners are typically able to buy condominiums with ease, purchasing landed properties may come with stricter rules. Additionally, foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite this extra expense, the reliable stability and potential for growth in the Singapore real estate market continue to entice foreign investment. Consider exploring Singapore Projects for further opportunities in this market.
A coffee shop located at 253 Choa Chu Kang Ave 1 is now available for purchase through an expression of interest (EOI), with a suggested price of $11 million. The shop takes up a total area of 2,540 sq ft and is situated within Keat Hong Shopping Centre, a two-storey HDB commercial development that features various coffee shops, a supermarket, and a variety of other shops and stalls.
The property is zoned for commercial use and boasts a 99-year leasehold tenure, with a remaining lease 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 on site. According to Jervis Isaiah Ng, founder of JNA Real Estate, which is a team under PropNex Realty and the exclusive marketing agent for the property, potential buyers could be interested in operating the coffee shop themselves, renovating and leasing it out, or continuing to lease it out to coffee shop operators.
One of the advantages of this property is that it does not have living quarters, making it exempt from Additional Buyer’s Stamp Duty. Keat Hong Shopping Centre is a conveniently located, with the South View LRT Station on the Bukit Panjang LRT Line within walking distance, as well as the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, expected to be completed by 2027. In addition, other amenities such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market are just a stone’s throw away.
The EOI for this property will close on December 22, 3pm. Interested parties are encouraged to submit their bid before the deadline.