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Tuesday, Aug 27, 2013
A popular seafood restaurant in Tiong Bahru has been put up for sale at $1.5 million, Shin Min Daily reported.
Por Kee eating house is a 17-year-old business at 69 Seng Poh Lane popular with locals and tourists despite most of its seats being located outside the building. Customers are often seated at tables right next to the public carpark.
Por Kee up for sale at $1.5m
A popular seafood restaurant in Tiong Bahru has been put up for sale at $1.5 million, Shin Min Daily reported.
Por Kee eating house is a 17-year-old business at 69 Seng Poh Lane popular with locals and tourists despite most of its seats being located outside the building.
According to an advertisement placed on the Internet, monthly rental of Por Kee's 1,800 square feet indoor and outdoor premises costs $5,500. A complete takeover will cost $1.5 million.
Owner Deng Bo Rong told the Chinese daily that customers would be notified if the the restaurant was to be sold to a successful buyer.
According to an advertisement placed on the Internet, monthly rental of Por Kee's 1,800 square feet indoor and outdoor premises costs $5,500.
A complete takeover will cost $1.5 million.
Owner Deng Bo Rong told the Chinese daily that customers would be notified if the the restaurant was to be sold to a successful buyer.
Mr Deng also said that he was selling the business because he was getting on in years, but refused to say if there had been any offers to take over his restaurant.
According to the report, Mr Deng is believed to have sold his additional shop space in Tiong Bahru for $2 million in September 2012.
The 1,350 square feet space in a neighbouring block was used as Por Kee's indoor air-conditioned seating area.
Mr Deng had reportedly said that he felt the buyer's offer was good, and hence decided to sell off the space. Shin Min said that by June this year, the shop space had already reached an estimated value of $2.5 million.
An expert Shin Min spoke to said that the price put up by Mr Deng for the sale Por Kee was reasonable.
As it is a popular eatery, the food and restaurant expert said that customers might not see much change if the business carried on with only a change of hands in management.
Por Kee's daily revenue can range from $5,000 to tens of thousands of dollars, the expert speculated. It may even bring in up to $200,000 every month.
The restaurant is famous for many dishes, including champagne pork ribs, tom-yum fish, cereal prawns and a special version the Teochew yam dessert orh nee.
PrintAsiaOne
Tuesday, Aug 27, 2013
A popular seafood restaurant in Tiong Bahru has been put up for sale at $1.5 million, Shin Min Daily reported.
Por Kee eating house is a 17-year-old business at 69 Seng Poh Lane popular with locals and tourists despite most of its seats being located outside the building. Customers are often seated at tables right next to the public carpark.
Por Kee up for sale at $1.5m
According to an advertisement placed on the Internet, monthly rental of Por Kee's 1,800 square feet indoor and outdoor premises costs $5,500.
A complete takeover will cost $1.5 million.
Owner Deng Bo Rong told the Chinese daily that customers would be notified if the the restaurant was to be sold to a successful buyer.
Mr Deng also said that he was selling the business because he was getting on in years, but refused to say if there had been any offers to take over his restaurant.
According to the report, Mr Deng is believed to have sold his additional shop space in Tiong Bahru for $2 million in September 2012.
The 1,350 square feet space in a neighbouring block was used as Por Kee's indoor air-conditioned seating area.
Mr Deng had reportedly said that he felt the buyer's offer was good, and hence decided to sell off the space. Shin Min said that by June this year, the shop space had already reached an estimated value of $2.5 million.
AsiaOne
Tuesday, Aug 27, 2013
A popular seafood restaurant in Tiong Bahru has been put up for sale at $1.5 million, Shin Min Daily reported.
Por Kee eating house is a 17-year-old business at 69 Seng Poh Lane popular with locals and tourists despite most of its seats being located outside the building. Customers are often seated at tables right next to the public carpark.
Por Kee up for sale at $1.5m
According to an advertisement placed on the Internet, monthly rental of Por Kee's 1,800 square feet indoor and outdoor premises costs $5,500.
A complete takeover will cost $1.5 million.
Owner Deng Bo Rong told the Chinese daily that customers would be notified if the the restaurant was to be sold to a successful buyer.
Mr Deng also said that he was selling the business because he was getting on in years, but refused to say if there had been any offers to take over his restaurant.
According to the report, Mr Deng is believed to have sold his additional shop space in Tiong Bahru for $2 million in September 2012.
The 1,350 square feet space in a neighbouring block was used as Por Kee's indoor air-conditioned seating area.
Mr Deng had reportedly said that he felt the buyer's offer was good, and hence decided to sell off the space. Shin Min said that by June this year, the shop space had already reached an estimated value of $2.5 million.
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