A coffee shop in Tampines changed hands for a record $41.68 million, and some tenants are thinking about terminating their agreements following a surge in rent.
A firm called G&G (21) lodged a caveat with the Singapore Land Authority in April for the coffee shop, 21 Street Eating House, at Block 201 Tampines Street 21.
The transaction is expected to be completed next month, local media outlet 8world reported on Wednesday.
The deal topped the previous reported record of $31 million for a coffee shop at Block 155 Bukit Batok Street 11 in 2015.
Based on Accounting and Corporate Regulatory Authority records, G&G director Kiong Tai Weng owns several other businesses, including the 7 Stars coffee shop chain and the U Stars supermarkets.
In 2014, he bought the Hong Kong Street Zhen Ji foodcourt at Block 151 Ang Mo Kio Avenue 5 for $7.4 million as the late founder was his mentor, The New Paper reported.
The 604 sq m Tampines coffee shop, which has 18 stalls, has 76 years left on its lease, according to a property title information search.
Denne historien er fra June 17, 2022-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 17, 2022-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
HORSEBACK FISHING ALIVE IN BELGIUM
A fisherman on horseback drags his net in the sea to catch grey shrimp in Oostduinkerke in Belgium in October.
K-pop star Jessi cleared of charges in case of fan assault
South Korea-based American singer-rapper Jessi has been cleared of all charges in the case of a fan assault that took place in front of her.
S'pore movies Wonderland and A Year Of No Significance selected for China film festival
Two made-in-Singapore movies have been selected to take part in the China Golden Rooster & Hundred Flowers Film Festival.
JJ Lin's concert tour to return to Singapore in December
Home-grown Mandopop star JJ Lin is set to return to Singapore's National Stadium on Dec 28 and 29 for the second leg of his JJ20 World Tour.
Three charged in Liam Payne's death
Three people have been charged in relation to One Direction singer Liam Payne's death in a fall from his Buenos Aires hotel balcony in October, the Argentine authorities said on Nov 7.
Looks like a lion, purrs like a pussycat
The two-door Mercedes-AMG CLE53 appears stout and aggressive, but is a friendly and easy-to-drive car
Dramatic electric roadster bolsters MG's street cred
The Cyberster is a two-seater convertible that mixes brawn and beauty as well as value and efficiency
V12 performance and looks define new Aston Martin Vanquish
After a six-year hiatus, the Aston Martin Vanquish returns as a meaner and bigger grand tourer.
Lively and sublime all-French concert by Red Dot Baroque
The Tastes Reunited comes from the French phrase Les Gouts-reunis coined by Baroque composer Francois Couperin, referring to a glorious unification of Italian virtuosity and dramatics with French elegance and restraint in musical performance.
Golden age for parks in America
Cities are sprucing up waterfronts, transforming abandoned industrial sites and bringing green space to neighbourhoods