Amoy Street shophouse row up for tender, with guide price of S$66.8m

THE public tender sale of 77 to 80 Amoy Street, a row of prime three-storey shophouses, was launched on Tuesday, CBRE said.

Based on the recent shophouse transaction at Pagoda Street at S$3,500 per square foot over gross floor area, the guide price for the subject property is S$66.8 million or S$2,805 per square foot over gross floor area.

The shophouses, located at 77/78/79/80 Amoy Street, were refurbished recently and have a combined land area of approximately 8,182 square feet. The total current gross floor area is about 23,814 square feet and comes with a 999-year land tenure.

The site is zoned for commercial usage under the Chinatown (Telok Ayer) Conservation Area in the 2014 Master Plan.

Property owners are expected to enjoy stronger capital and rental upside moving forward in conjunction with the continued rejuvenation of Tanjong Pagar, especially with the completion of the Tanjong Pagar Centre and Frasers Tower, said Sammi Lim, associate director, investment properties, CBRE, in a statement.

As a commercial property, this public tender is open to both local and foreigners with no additional buyers' stamp duty or sellers' stamp duty imposed on the purchase of the property.

CBRE is the sole marketing agent for this public tender exercise.

The tender closes on April 20, 2015.