Conservation shophouse at 75 Amoy Street up for sale

A 999-year, 2½-storey conservation shophouse at 75 Amoy Street is up for sale. It has a land area of 2,237 sq ft and a total built-up area of about 5,755 sq ft. Price is available on enquiry.

The property is currently vacant and has recently been renovated. It features a usable balcony with a greenery view of Ann Siang Hill. The ground floor of the property can be converted for F&B use. This is subject to the URA’s approval.

“This is a rare opportunity to own this asset in this prime location as most owners are unwilling to sell due to its strong demand in rental and its close proximity to Telok Ayer and Tanjong Pagar MRT Stations,” says Jesmond Lee, division director at Huttons, who is marketing the property.

Due to scarcity, conservation shophouses in Districts 1 and 2 are “very well sought after”, says Lee, who adds that such properties “offer higher yields

and are easier to get bank financing as compared to residential property”.

Lee says that there is “strong upside for capital appreciation”, especially with the CBD incentive scheme launched by URA, to “reposition our CBD as a 24/7 mixed-use district so that the CBD will not only be a place to work, but also a vibrant place to live and play in”.

75 Amoy Street sits on land zoned for commercial use, and foreigners are eligible to purchase. No additional buyer’s stamp duty or seller’s stamp duty will be imposed.