Description
This business was owned by a legal and financial professional in the early 2022 where the covid measures were still in place and while they were working from home, this establishment was intended for them to meet their clients here at 273 Jalan Kayu. As the pandemic ended and both the owners had to report back to office, they can only manage the place after 5pm. The whole daytime has gone to waste. They are currently overwhelmed by their day job that they decided to sell this business.
This business is located in a private and HDB housing enclave on a 2 storey private shophouse rented at SGD8,500/mth ending 30 Sep 2025, where the 1st floor is operating as a bistro and bar and the 2nd floor is a 3 bedroom apartment sub-rented to a corporation for SGD3,300/mth which ends at April 2024.
This business transfer will include everything contracted by the company in the course of the business. These are assets and liabilities including the ROU lease and Utility deposits of $26,850, inventories, furnitures and fitting and fixtures.
As the balance ROU Lease is 25 months and going by the prevailing rental transaction on similar neighboring units, the price is about $14,500/month, while their current rent is only $8,500. Saving a prospective $150,000.
With a book value of $365,312 as of June 2023, they were only asking for offer above $190,000.
A further breakdown of what you are paying for the $190,000 in real value can be illustrated below.
Asking offer $190,000
Less Deposits ($ 26,850)
Less Inventory ($ 10,512) as of 31 Jul 2023
Less Plant & Equipment ($ 16,404) as of 30 June 2023
Less Furniture ($ 7,500) as of 30 June 2023
Less Fitting and Fixture ($ 97,461) as of 30 June 2023
Less Rental saving ($150,000) prevailing
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Real Value Paid ($118,727)
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The reason for them to let go of this business is they do not have time to grow it as can be seen that the place is only operating from 5pm till 12am. The owners have day jobs and during the pandemic, they work from home and setup this “Oneplace Bistro and Bar” to connect with their clients. However, the scenario has changed, and they now reported back to their day job offices.
Please take not that this business has received overwhelming interest. So please conduct your own evaluation and get back to us soon as any Offer above $190,000 will be a DEAL.