Kimly Group completes S$11.8 million acquisition of Haig Road coffee shop

SINGAPORE: Kimly Group has completed the acquisition of a coffee shop property at 12 Haig Road for S$11.8 million, reinforcing the continued appetite for high-value HDB coffee shops in Singapore’s heartland locations.

In a statement issued on 9 January 2026, the group confirmed the completion of a share purchase agreement for the acquisition of the coffee shop property at 12 Haig Road.

According to the statement, Kimly Group acquired 100 per cent of the issued and fully paid-up ordinary shares in GSPL Pte. Ltd., the company that owns the coffee shop property.

The transaction was completed on the same day the statement was issued, marking the formal conclusion of a deal first announced late last year.

Kimly Group had previously disclosed on 4 November 2025 that it agreed to acquire the coffee shop owned by GSPL Pte. Ltd. for S$11.8 million.

At the time of the announcement, the group said the coffee shop, located at Block 12, Haig Road, unit 01-323, was operated by its wholly owned subsidiary, Kedai Kopi.

The property is a two-storey HDB shophouse. The first floor is used as a coffee shop, while the second floor comprises a three-room HDB flat.

The total floor area of the unit is approximately 393 square metres, providing both commercial and residential components within a single property.

The coffee shop carries an 82-year leasehold title, with about 49 years remaining on the lease, according to information released by the group.

Despite the relatively limited remaining lease tenure, the acquisition price underscores the strong valuations being commanded by established coffee shops in mature estates.

Part of broader trend of multi-million-dollar coffee shop transactions

The Haig Road transaction is part of a broader trend of multi-million-dollar HDB coffee shop deals recorded in recent years.

In October 2025, a recently refurbished coffeeshop at Block 418, Bedok North Avenue 2, was launched for sale at S$12.8 million.

The Bedok property, located at the corner of a nine-storey block, spans 3,196 square feet, housing eight food and beverage stalls on the ground floor and 1,033 square feet of living quarters on the second floor.

In June 2024, a coffeeshop at Block 204 Serangoon Central was acquired by Kimly Group for S$13.15 million, while another coffeeshop at Block 110 Yishun Ring Road was listed in May 2024 with a guide price of S$11 million.

Over the past two years, at least three other coffee shops have changed hands for sums exceeding S$40 million (US$29.5 million), located in Serangoon, Yishun, and Tampines.

In a separate development, ERA Singapore announced in October 2025 that a two-storey HDB shophouse in Bedok Central was launched for sale with an asking price of S$3.95 million.

The continuing stream of high-value sales suggests that demand for well-located HDB food and beverage assets remains resilient, driven by stable foot traffic, long-term rental yields, and limited supply of strata-titled coffee shops.