Two adjoining shophouses on Amoy Street going for $50 mil

By
/ EdgeProp Singapore
|
September 5, 2018 4:48 PM SGT
A pair of adjoining four-storey conservation shophouses -- 87 and 88 Amoy Street -- has been launched for sale by public tender, at a guide price of $50 million ($3,415 psf). The property is marketed by CBRE.
87 and 88 Amoy Street are four-storey conservation shophouses (Cresit:CBRE)
87 and 88 Amoy Street has a combined land area of about 5,375 sq ft, and a total gross floor area of about 14,641 sq ft. The site is zoned “commercial” under the Chinatown-Telok Ayer Conservation Area in the 2014 Master Plan.
Currently, the entire ground floor of 87 and 88 Amoy Street is tenanted to a health and fitness group. The second to fourth floors are also tenanted.
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The property has a passenger lift and reinforced concrete staircases. It enjoys 14 metres of frontage along Amoy Street with high visibility.
An open-air public car park is located in front of the property. 87 and 88 Amoy Street is a 6-minute walk to both Tanjong Pagar and Telok Ayer MRT Stations.
Recently, in the vicinity, shophouses at 52, 75 and 77 Amoy Street were transacted at prices ranging from $3,500 to $3,944 psf.
As 87 and 88 Amoy Street is a commercial property, the public tender is open to both locals and foreigners with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on its purchase.
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The tender will close on Oct 11.