Three conservation shophouses on Amoy Street for sale

THREE prime conservation shophouses along Amoy Street have been put up for sale by expression of interest.

The three shophouses - 77, 78, and 79/80 Amoy Street - sit on a combined site area of 8,182 sq ft, with an estimated floor area of 23,820 sq ft.

They have a leasehold of 999 years, with a balance of 814 years left on the lease. Interested parties have the option to purchase either two shophouses (ie 78 and 79/80 Amoy Street), or all three units.

The units could fetch some $1,600 psf of gross floor area.

Based on recent transactions, 73/73A/73B Amoy Street transacted at $8.5 million in May. In April, 71/71A Amoy Street transacted at $8.5 million.

Companies with a $50 million investment budget and wants to own an office property in CBD, their only alternative will be to purchase strata office floors. However, the companies are not entitled to naming rights with strata properties' ownership whereas that would be possible with this opportunity.

77 Amoy Street occupies some 2,773 sq ft, and has an estimated floor area of 7,610 sq ft. 78 Amoy Street has a site area of 2,597 sq ft, and an estimated floor area of 7,793 sq ft. 79/80 Amoy Street has a site area of 2,812 sq ft, and an estimated floor area of 8,417 sq ft.

Source: Business Times – 20 June 2012