Boon Lay Raja restaurant space launched for sale in Jurong Gateway Hub

Find out what its asking price is.

Savills Singapore today revealed that a prime heartland restaurant space is now available for sale by tender.

The property is located in 135 Jurong Gateway Road, 200 metres from Jurong East MRT station and bus interchange.

The subject property currently accommodates Boon Lay Raja Restaurant, a 60-table Chinese restaurant with a strata area of about 11,248 sq ft.

It has a remaining lease of about 69 years from the Housing & Development Board (HDB). Change of use to other trades may be allowed, subject to HDB’s approval.

“The vendors have been operating Boon Lay Raja Restaurant, a popular family restaurant in the west of Singapore for more than 20 years. They would have preferred to continue operating this profitable business if not for their impending retirement. This is a rare opportunity for restaurateurs facing escalating rentals to operate on their own premise, and establish or consolidate their presence in this highly sought-after location.” said Derrick Tan, Associate Director of Investment Sales at Savills Singapore

The vendors are looking at a reserve price of $15 million, or S$1,334 psf over the strata area. The tender closes on 6 November 2014 at 3pm.