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 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.

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.

The tender will close on Oct 11.