>

>

Kimly buys coffeeshop at Serangoon Central for $13.15 million

By The Edge Singapore

/ The Edge Singapore |

June 11, 2024 5:49 PM SGT

File photo of a Kimly-operated coffeeshop / Photo: Albert Chua

Coffeeshop chain operator Kimly is paying $13.15 million to buy a coffeeshop at Serangoon Central from Lee Quan Enterprises.

The property, at Block 204 Serangoon Central #01-104, has a total floor area of 358 sqm which consists of a 3-room flat on its second level, besides the coffeeshop.

The property is on a 90-year leasehold starting from October 1994.

According to Kimly, the acquisition is in line with its strategy to expand its network of food outlets in Singapore and to establish new food outlets and food stalls as and when suitable strategic locations become available.

Read also: Stirring up an appetite for investments in coffee shops

"The group expects to strengthen its presence in the market by opening more food stalls under its food retail division, which is complemented by its central kitchen, and will continue to explore opportunities to acquire and, or operate more strategically-located coffeeshops in mature estates with established footfalls," says Kimly.

As indicated in its most recent 1HFY2024 earnings announcement on May 9, Kimly operates and manages an extensive network of 86 food outlets.

Kimly shares closed June 10 at 32 cents, up 1.59%.

This article first appeared on The Edge Singapore.

Tags:

Kimly coffeeshop

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

UOL and CapitaLand to acquire Thomson View Condo for $810 mil

2

Emerald of Katong draws 10,000 as crowds surge at project sales galleries during Deepavali weekend

3

Is it a Good Deal?: A freehold three-bedroom in D9 sold for $3.27 million, making a $2.03 million profit

4

Chuan Park attracts 5,000 visitors on first day of preview

5

Executive Condo launches in the pipeline to test new highs of $1,700 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00