You are here

Amoy Street, Bukit Pasoh conservation shophouses up for sale

52 Amoy Street_1.jpeg
The 2.5-storey shophouse at 52 Amoy Street has a guide price starting from S$9 million.

21 Teo Hong Road_1.jpeg
The 3.5-storey shophouse at 21 Teo Hong Road is located near Outram Park MRT interchange, and has an indicative price of S$15 million.

A 999-year leasehold shophouse in Amoy Street has been launched for sale with a guide price of at least S$9 million, while another freehold shophouse in Bukit Pasoh has been launched for sale at an indicative price of S$15 million.

The sale is open to both locals and foreigners with no additional stamp duty, marketing agent PropNex Realty said on Wednesday. 

Both conservation shophouses are zoned "commercial" under the Urban Redevelopment Authority's 2019 Master Plan. 

The shophouse at 52 Amoy Street has a land area of 952 square feet (sq ft), and a total floor area of about 2,255 sq ft.

The 2.5-storey shophouse has a guide price starting from S$9 million. It was previously transacted in 2017 for S$7.1 million

Within the precinct, a shophouse at 21 Boon Tat Street was sold for S$16.5 million in September 2018, while another shophouse at 198 Telok Ayer Street was transacted at S$14.88 million in September 2019, PropNex associate director Loyalle Chin told BT on Wednesday.

The shophouse at 52 Amoy Street is located near Frasers Tower and the upcoming 79 Robinson Road, which will house fintech hub Bridge+. The entire ground floor is leased to Wanton, Seng's Noodle Bar, while cocktail bar Native occupies the upper levels.

In addition, the shophouse is a short walk from Tanjong Pagar MRT station, Telok Ayer MRT station and upcoming Shenton Way MRT station, which is slated to open in 2021. 

Separately, the 3.5-storey shophouse at 21 Teo Hong Road is located near Outram Park MRT interchange. The Bukit Pasoh shophouse has a land area of 1,672 sq ft and a total floor area of about 5,000 sq ft, according to Mr Chin.

Subject to approval from the authorities, the development - which has concrete flooring and staircase access from the front, could be repositioned for F&B (food and beverage) tenants, PropNex said. 

According to the marketing agent, the owner is also open to a sale either with vacant possession, or on a leaseback arrangement. 

The shophouse is within walking distance to private clubs including Straits Clan and the upcoming redevelopment of Chinatown Plaza.

Added Mr Chin: "With a tight central business district strata office supply situation in Singapore, local and overseas business owners could consider shophouses as a compelling alternative for their headquarters."

The expression of interest exercise for both shophouses will close on March 5, at 3pm.