71 Amoy Street: Rare 999-year commercial conservation shophouse draws immediate interest

A rare 999-year commercial conservation shophouse in the heart of Singapore’s CBD is now available for $23.8 million, offering investors a blend of immediate tenancy income, heritage appeal, and long-term value. The property is marketed by exclusive agent Magdalene Lee, associate director of Mutual Benefits Realty.

Situated along the vibrant Telok Ayer precinct, the property enjoys a beautiful depth and proportion that lends it a sense of substance rarely found in modern commercial stock. Its conservation character adds architectural dignity, while the generous built-up area of approximately 3,624 sq ft supports a range of uses suited to discerning investors and owner-occupiers.

From façade to interior volume, the shophouse reflects the timeless appeal of Singapore’s best heritage properties.

Step inside to experience an expansive interior that pairs heritage character with modern commercial polish. Its high ceilings create an immediate sense of volume and grandeur, while the generous floor plate allows for flexible zoning across reception, collaborative work areas, private rooms and executive spaces. Natural light and long sightlines enhance the feeling of openness, making the space feel larger and more inviting than its footprint suggests.

Its still-robust bones give the interior authenticity, but the fit-out can support contemporary use with refined finishes, efficient layout planning and premium detailing. For those seeking a statement asset, this refined space offers something increasingly scarce in the CBD: prestige, practicality and timeless architectural presence in a single commercial address.

Another of the shophouse’s strengths is its storied neighbours. Flanking it on one side, at 70 Amoy Street, is the prestigious Anglo-Chinese School (ACS) House, a landmark steeped with historical significance. At 72 Amoy Street, is the Michelin-recognised restaurant, Nouri.

The street itself is animated by an eclectic mix of family offices, restaurants, cafés and boutique businesses, creating a refined yet energetic environment that reinforces the area’s prestige and enduring commercial value.

Architecturally, 71 Amoy Street belongs to a lineage of shophouses whose depth and proportion recall the handsome heritage stock of Penang. That sense of depth captured across a generous built-up space matters: it gives the property a tangible gravitas, a sense of interior generosity and old-world substance that newer buildings cannot easily replicate. In a market increasingly defined by scarcity, this generous built form offers not only utility but mood and memory, with permanence and legacy.

Juxtaposed with a recent transaction at 3 Keong Saik Road — where a 1,287 sq ft plot fetched $22 million ($17,100 psf) — the asking price of $23.8 million ($11,498 psf) for the 2,070 sq ft property at 71 Amoy Street is the more compelling value. Beyond its price advantage, 71 Amoy Street, is also first-rate on several counts. Along with tenancy, it offers deeper heritage, a stronger foothold in the financial district with major banks nearby, and superior long-term wealth preservation.

This opportunity is well-suited to meet growing demand from a regional pool of Asian ultra-high-net-worth family offices. Those seeking Singapore-based assets that combine capital preservation with operational utility and heritage value, with architectural presence, will find themselves in the company of discerning investors looking for long-term market outperformance.

Ultimately, 71 Amoy Street is best understood as a property with depth and soul.

The dignity of heritage, the reassurance of a proven commercial district, and the elegance of a streetscape shaped by fine dining, professional occupancy and architectural depth — this is a formidable stronghold for those seeking not merely an address, but a lasting presence in one of Singapore’s most storied quarters.

For more information,

Contact Magdalene Lee | 98766574

DIRECTOR (R017722B)

MUTUAL BENEFITS REALTY PTE. LTD.