78, 79/80 Amoy Street Prime Conservation Shophouses for Sales by Expression of Interest

20 June 2012

Savills Singapore is pleased to announce the launch for 3 contiguous prime conservation shophouses for sale by Expression of Interest.

Club Street Properties Pte Ltd and Amoy Financial Centre Pte Ltd have appointed Savills Singapore as the sole and exclusive advisor for the sales of 3 contiguous prime conservation shophouses, located at 77, 78 and 79/80 Amoy Street, within Singapore’s Central Business District.



  77 Amoy Street 78 Amoy Street 79/80 Amoy Street Total Area
Site Area 2,773 sf 2,597 sf 2,812 sf 8,182 sf
Floor Area
(Estimated)
7,610 sf 7,793 sf 8,417 sf 23,820 sf
 

Interested parties have the option to purchase:

a) 78, 79/80 Amoy Street (i.e. 2 shophouses) or

b) 77 and 78 – 80 Amoy Street.

Note: 77 Amoy Street is only for sale together with 78, 79/80 Amoy Street.

The Expressions of Interest will be closed on 25 July 2012 by 5:00pm

Key Investment Highlights

Refurbished and Designed to the Highest Specifications
Retaining the heritage and attraction of Singapore historic architecture, the subject properties have been refurbished internally to provide highly specified commercial space.

Virtual Freehold
Leasehold 999 years from 1st October 1827, with balance of 814 years

Prime Location
Amoy Street is a vibrant exciting location within Singapore CBD with close proximity to Raffles Place and (northwest) and Chinatown (northeast). Amoy Street benefits from a fusions catchment of high recurring professionals, tourists and local residents.

Rare Opportunity
This is a rare opportunity to acquire 3 contiguous shop houses in the tightly held CBD core.

Quotes

For end-users who are seeking to own a boutique CBD corporate building, this opportunity will be an ideal choice given its city-centre location and its relatively affordable investment quantum. Most office buildings, because of their sheer scale, will be priced way north of S$150m otherwise.” says Steven Ming, executive director of investment sales.

He adds “Anyone with say a S$50m investment budget and wants to own an office property in CBD, their only alternative will be to purchase strata office floors. However, you don't get naming rights with strata properties’ ownership whereas that would be possible with this opportunity.”

He adds “Significant residential schemes to be completed within the CBD over the next few years will lift demand for retail properties. As such, expect rents and capital values to climb over time.

He adds "Subject to relevant authorities’ approvals, the property may also be suitable for a conversion into a boutique hotel. Its proximity to the upcoming Telok Ayer and the existing Tanjong Pagar MRT stations, provides ease of access to the Marina Bay Sands, Chinatown, Harbourfront, Orchard Road locations and across most of Singapore.”

 
 

Key contacts

Steven Ming

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Executive Director, Investment

Savills Singapore (Pte) Ltd

+65 6415 3624