Kimly Buys Coffeeshop Serangoon Central 1315 Million
Kimly, a popular coffeeshop chain operator, has made a significant purchase of $13.15 million to acquire a coffeeshop located at Serangoon Central from Lee Quan Enterprises. The property, which is situated at Block 204 Serangoon Central #01-104, boasts a total floor area of 358 square meters, including a 3-room flat on its second level in addition to the coffeeshop.
This 90-year leasehold property, with its lease starting from October 1994, has caught the attention of Kimly as it aligns with their business strategy to expand their network of food outlets in Singapore. With the constant lookout for strategic locations, Kimly is determined to establish new food outlets and food stalls whenever the opportunity presents itself.
In a statement released by Kimly, the acquisition of this coffeeshop will strengthen their presence in the market. This will be achieved by opening more food stalls under their food retail division, which is supported by their central kitchen. The company also expressed their interest in acquiring and managing more strategically-located coffeeshops in mature estates that have established footfalls.
As per their recent 1HFY2024 earnings announcement on May 9, Kimly currently operates and manages a network of 86 food outlets. The acquisition of this new coffeeshop further solidifies their position in the market and positions them for continued growth in the future.
Located in the heart of Woodlands, Norwood Grand Woodlands boasts a prime location with easy accessibility. This strategic positioning is highly beneficial for various reasons. Firstly, it is conveniently situated within the North Coast Innovation Corridor, an area currently undergoing significant development and transformation. This makes it an ideal choice for those seeking a modern and evolving community.
Moreover, Norwood Grand’s location is ideal for both public transport users and private car owners. With a plethora of transportation options readily available, residents can easily commute to and from the development. From the well-connected MRT and bus network to the extensive road network, traveling to different parts of the city is a breeze.
Furthermore, the surrounding area offers a host of amenities and facilities, making it a desirable location for living. Residents of Norwood Grand Woodlands can enjoy the convenience of having everything they need just a stone’s throw away. From schools and shopping malls to recreational parks and healthcare facilities, all essential services are within easy reach.
In conclusion, Norwood Grand Woodlands is strategically located in the heart of Woodlands, offering a desirable and convenient lifestyle for its residents. With its prime location in the North Coast Innovation Corridor and accessibility to various transportation options and amenities, it is the perfect choice for those looking for a modern and well-connected community to call home.
On June 10, Kimly’s shares closed at 32 cents, marking a 1.59% increase. This acquisition is a testament to the company’s commitment towards expanding their business and catering to the growing demand for quality food outlets in Singapore.