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Both conservation shophouses are zoned “Commercial” under the URA 2019 Masterplan.
The shophouses along 52 Amoy Street and 21 Teo Hong Road have been put for sale via Expression of Interest (EOI) by PropNex Realty, with guide prices of S$ 9 million and S$ 15 million respectively.
The property in 52 Amoy Street sits on an area measuring 952 sq ft with a total floor area of around 2,255 sq ft, which is also zoned “Commercial” under the 2019 Urban Redevelopment Authority Master Plan (2019 Master Plan).
This 999-year leasehold 2.5-storey shophouse is only a short walking distance to the Telok Ayer and Tanjong Pagar MRT stations, as well as the upcoming Shenton Way MRT station.
“Simply the lowest quantum freehold / 999-year Shophouse in the Amoy Street & Telok Ayer Street precinct, it has one of the best potential for further capital appreciation in a highly coveted hotspot for value investors seeking a shophouse for capital growth or own F&B usage,” said Loyalle Chin, CBD shophouses and commercial assets specialist for PropNex Realty.
The 21 Teo Hong Road shophouse occupies an area measuring 1,672 sq ft with a total floor area of (pending final survey) about 5,000 sq ft, which is also zoned “Commercial” under the 2019 Master Plan. It is located just a minute away from the Outram Park triple-line MRT interchange and will also be near the upcoming Thomson-East Coast Line.
The owner also has expressed willingness to a sale with vacant possession or leaseback.
“This shophouse is priced at an attractive per square foot (PSF) price relative to other freehold strata offices, making this Freehold shophouse a viable option for family office or private equity fund managers wanting to be close to the city, with building signage rights,” said Chin.
“With a tight CBD strata office supply situation in Singapore, local and overseas business owners could consider shophouses as a compelling alternative for their headquarters.”
Both properties are open for purchase by locals and foreigners, with the sale not being subject to additional stamp duty. The properties could also be bought individually or collectively.
The EOI exercise for the 52 Amoy Street and 21 Teo Hong Road properties ends on 5 March.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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