Two conservation shophouses up for sale

Two conservation shophouses are up for sale, both with hefty price tags.

A 999-year leasehold unit in Amoy Street has a guide price of at least $9 million, while a freehold property in Bukit Pasoh is in the $15 million vicinity.

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

The 21/2-storey shophouse at 52 Amoy Street has a land area of 952 sq ft and a total floor area of about 2,255 sq ft.

It is 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.

The Tanjong Pagar and Telok Ayer MRT stations are nearby, as will be the upcoming Shenton Way station due to open next year.

Its guide price - starting from $9 million - is well above the $7.1 million it sold for in 2017.

A shophouse at nearby 21 Boon Tat Street sold for $16.5 million in September 2018, and one at 198 Telok Ayer Street went for $14.88 million last September, PropNex associate director Loyalle Chin said.

Separately, the 31/2-storey shophouse at 21 Teo Hong Road, Bukit Pasoh, is near Outram Park MRT interchange station. It has a land area of 1,672 sq ft and a total floor area of about 5,000 sq ft, said Mr Chin.

The unit could be repositioned for food and beverage tenants, PropNex said, noting that the owner is also open to a sale either with vacant possession or on a leaseback.

It is near private clubs, including Straits Clan, and the upcoming redevelopment of Chinatown Plaza.

Mr Chin said: "With a tight Central Business District strata office supply situation, local and overseas business owners could consider shophouses as a compelling alternative for their headquarters."

The expression of interest exercise for both shophouses closes at 3pm on March 5.


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A version of this article appeared in the print edition of The Straits Times on January 23, 2020, with the headline Two conservation shophouses up for sale. Subscribe