Coffee shops are where most of us grab an affordable meal, but did you know that they're a piece of hot real estate that can sell for tens of millions of dollars?
On top of that, he also owns U Stars supermarkets and the popular Hong Kong Street Zhen Zi food court. According to Nicholas Mak, ERA Singapore's head of research and consulting, the $41.6 million price — or $6,964 psf — is comparable to the price of retail spaces along shopping district Orchard Road.
A number of stall owners have lamented that due to an almost double in rent, they may not want to remain in the coffee shop.One stall holder, who declined to be named, told 8world that in the past 23 years she had been a tenant at the coffee shop, she had never experienced any drastic rent hikes.
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