_Rare prime Beach Road ground floor F&B unit for Sale by Tender
Singapore, 28 May 2024 – International property consultant Knight Frank Singapore, as the exclusive marketing agent, is pleased to announce a rarely-available ground floor Food & Beverage (F&B) space at six-storey mixed use development The 101 for Sale by Tender.
The subject property has a floor area of approximately 1,539 sq ft, and is currently leased to space-themed Sichuan restaurant Chef China, a popular eatery among locals, tourists and working professionals in the area.
Located at the busy intersection of Beach Road, Liang Seah Street and Tan Quee Lan Street, The 101’s prominent dual frontages are visible from both Beach Road and Liang Seah Street. Within a lively F&B enclave, the building is located across the bustling Bugis MRT Station, which serves as an interchange station for both the East–West and Downtown lines. It is easily accessible via East Coast Parkway, Kallang-Paya Lebar Expressway and Marina Coastal Expressway.
As a fully commercial asset, the property is open to both local and foreign investors as Seller Stamp Duty and Additional Buyers’ Stamp Duty do not apply.
Ms Tania Ong (王艳清), Senior Manager, Capital Markets, Knight Frank Singapore (执行董事,资本市场部, 莱坊), says, “Prime ground floor F&B units are incredibly scarce as the government tightens strata sub-division rules in Singapore. The property’s single ground floor unit location also enhances its investment value since most new retail developments are no longer sub-divided, such properties are highly sought after by F&B investors or end-users.”
“Investors can expect a high yield at the guide price of $7.62 million, translating to $4,951 psf. In the vicinity, comparable ground floor F&B units at Bugis Cube transacted in the region of $4,760 to $4,890 psf in 2018, reflecting the rarity premium of the subject property. The property is suitable for eventual own use upon lease expiry.”
The tender closes on Tuesday, 23 July 2024 at 3:00 PM.
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