Kopitiam In S’pore Sold For Whopping RM140m, One Of The Highest In History 

In a notable real estate development, a coffee shop located at 848 Yishun Street 81 has been acquired for a staggering $40 million (RM140mil), as reported by 8World News.

The deal, which has not yet been finalized, was initiated in May this year when the buyer applied for a caveat, a legal provision to prevent further transactions on the property before the change of ownership is officially completed.

This coffee shop, still under its current management, holds a 78-year leasehold.

The high price tag is attributed to the easing of pandemic restrictions and the resultant revival of business, sparking investor confidence.

One of the highest in Singapore’s history

Despite not reaching the price of a recently sold Tampines coffee shop at $41.68 million, which was one of the highest transactions in recent times, the Yishun property boasts an impressive price per square foot of $9,361 (RM32,600), compared to Tampines’ $6,964 (RM24,288), due to its smaller size of 397 square meters housing 14 stalls.

Stall owners in the Yishun coffee shop reveal no immediate changes in management or rent, with discussions on new leases expected around July or August next year.

Previously in late 2007, the coffee shop was sold to KPT Investment for $6 million (RM20.93mil).

Read also: S’porean Couple Holds Wedding At Popular Kopitiam, Guests Served With Kaya Toast

Industry experts reassure consumers that food prices are unlikely to surge significantly despite the high purchase price.

However, stall owners might face the most impact. Vice President of the Fuzhou Coffee Restaurant & Bar Association, Mr. Ang told 8World News that he anticipates some rent adjustment, as investors aim to recoup their investment.