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A row of three contiguous prime 3-storey with attic conversation shophouses (pictured) at Amoy Street have been put up for sale by public tender, CBRE announced Tuesday (17 March).
Located at 77 to 80 Amoy Street, the recently refurbished shophouse has a combined land area of approximately 8,182 sq ft and has a total gross floor area (GFA) of 23,814 sq ft. Zoned for commercial use under the Chinatown (Telok Ayer) Conservation Area in the 2014 Master Plan, the property comes with a 999-year lease tenure.
“It is an extremely rare opportunity for a row of three contiguous shophouses along Amoy Street with 999-year land tenure to be available for sale. Prospects continue to look for such quality shophouse assets in the CBD for mid to long-term hold. These shophouses are a limited- edition asset in the property market,” said CBRE Associate Director for Investment Properties, Sammi Lim.
“The adjoining shophouses provide the buyer with the extra flexibility to creatively configure the space to suit their own-use requirements or cater to the needs of tenants,” she added.
According to CBRE, based on the recent shophouse transaction at Pagoda Street at S$3,500 per sq ft over the GFA, the subject property is expected to gather strong interest given that it comes with a guide price of S$66.8 million or just S$2,805 per sq ft.
“We expect the sale to garner interest from both investors [and] owner-occupiers to use them as corporate headquarters with building naming rights for boutique law firms, architectural firms, creative outfits, oil & gas, F&B operators and family businesses,” it said.
CBRE also noted that given that the property is zoned commercial, public tender is open to both local and foreigners with
no additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the purchase of the property.
The tender exercise will close on 20 April.
Image source: CBRE
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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