Kimly Buys Coffeeshop Serangoon Central 1315 Million
Kimly, a popular coffee chain operator, has announced its intention to purchase a coffeeshop located at Serangoon Central from Lee Quan Enterprises for a total of $13.15 million. The property, which is situated at Block 204 Serangoon Central #01-104, has a total floor area of 358 sqm, including a 3-room flat on its second level in addition to the coffeeshop space. It is a leasehold property with a 90-year lease starting from October 1994.
According to Kimly, this acquisition is part of its expansion strategy to grow its network of food outlets in Singapore. The company plans to establish new food outlets and food stalls in strategic locations when opportunities become available. In a statement, Kimly stated that this purchase aligns with their goal of strengthening their presence in the market and opening more food stalls under their food retail division, which is supported by its central kitchen.
In its recent 1HFY2024 earnings announcement on May 9, Kimly reported that they currently operate and manage a vast network of 86 food outlets. The company also expressed its intention to continue exploring opportunities to acquire and operate more strategically-located coffeeshops in mature estates with established footfalls.
The highly anticipated Novo Place EC development is causing quite a stir with its cutting-edge and environmentally-friendly approach to residential living. It is part of the distinctive master plan of Tengah, a town that prides itself on promoting sustainable practices, setting it apart from other towns in Singapore. One standout feature of the town’s design is its underground car-free center, which utilizes space more efficiently by freeing up surface areas for communal spaces and greenery. This forward-thinking concept not only reduces carbon emissions, but it also encourages a healthier lifestyle for residents through activities like walking, cycling, and the use of personal mobility devices. As a pioneer in Singapore’s efforts towards a greener and more community-centered lifestyle, Novo Place EC is a significant addition to the town’s commitment. Visit Novo Place EC’s website to learn more about this groundbreaking development.
Kimly’s shares closed at 32 cents on June 10, representing a 1.59% increase. This article was first published on [insert publication name].