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SG HDB coffee shop sells for record $23.8m

Property Here - Tuesday, July 02, 2013

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A HDB coffee shop in Hougang Avenue 4 has set a new price record after being sold for S$23.8 million.

Coffee Express 2000 (pictured) was sold to Broadway Group which operates food chains in Singapore.

The sale of the 4,025 sq ft unit with 17 stalls will likely be completed in September. Stallholders confirmed that they were informed about the change of ownership a month ago, but were unaware of the eye-popping selling price. 

Although the coffee shop’s price is high, R’ST Research Director Ong Kah Seng said it's justifiable.

“Coffee shops are still relevant today, and their investment potential is pretty strong. They're still a popular meeting place, and there are not many new ones coming up.”




Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg