How much do you think an entire coffee shop can sell for? A couple hundred thousand dollars? Nay, it’s actually in the range of millions of dollars.
Yong Xing Coffee Shop, located in 155 Bukit Batok Street 11, set a new record when it was sold off for an awesome $31 million, making it the most expensive coffee shop to be sold in an HDB estate, Lianhe Wanbao reports. Yong Xing’s previous owner bought the premise for about a paltry $3.38 million almost 20 years ago.
According to property experts, the 4,521 sq ft premise was sold off to a company at the high price as there was no other hawker centre in the area.
Tenants now reportedly will have to work their asses off to make their kopi ga dais, oyster omelettes and zhi char dishes well worth the $31 million. Since the handover, rent has doubled to $6,500 — prompting stallholders to increase the price of their food and staying open for longer hours.
Photo: Michael Verhoef via Flickr
