Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil
Located at 5 and 7 Jasmine Road, off Upper Thomson Road, are two freehold, adjoining shophouses on the market for sale via expression of interest (EOI) with a guide price of $10.5 million, or $2,665 psf on the floor area.
The two-storey shophouses have a total site area of approximately 3,650 sq ft and an existing combined floor area of about 3,940 sq ft.
Considered an ideal investment opportunity, these shophouses are zoned for “residential with commercial at 1st storey” use with a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan.
Situated just 50m away from the popular Thomson Plaza shopping mall, the properties are easily accessed via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. The Upper Thomson MRT Station (situated on Thomson-East Coast Line) is a minute’s walk away, with the Caldecott MRT Station (an interchange with the Circle Line) one stop away.
Steven Tan, managing director of capital markets and investment sales at ERA Realty Network, the exclusive marketing agent for the shophouses, says that this “rare opportunity offers investors a chance to own a pair of freehold shophouses that offer immediate rental income and future capital appreciation potential in the long term”.
Tan also suggests that the successful buyer consider redeveloping the adjoining shophouses. Subject to the authorities’ approval, the redeveloped building could have a gross floor area of about 10,950 sq ft.
The properties come with existing tenancies and on an “as is where is” basis, and are also near to numerous amenities such as popular eateries, cafes and prestigious educational institutions including Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School, all located within a 1-2km radius.
The EOI exercise for the property will close on May 8 at 3pm.
For those looking to take advantage of this rare opportunity, recent transactions of commercial property on Jasmine Road can be found via EdgeProp’s Research tool and the latest listings near Jasmine Road, Adelphi Park Estate, Upper Thomson MRT Station, Caldecott MRT, Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School are available on EdgeProp’s Commercial Directory.
Two freehold, adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been launched for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.
Accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway, these properties offer immediate rental income and future capital appreciation potential in the long term.
The two-storey shophouses have a total site area of approximately 3,650 sq ft and an existing combined floor area of about 3,940 sq ft. Zoned for “residential with commercial at 1st storey” use with a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan, the successful buyer could consider redeveloping the shophouses into a four-storey residential building with commercial space on the first storey.
Nearby amenities range from popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, and Junction 8 shopping mall, to prestigious educational institutions such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School.
The properties are for sale with existing tenancies and on an “as is where is” basis. The EOI exercise for the property will close on May 8 at 3pm. Recent transactions of commercial property on Jasmine Road, as well as the latest listings near the various landmarks mentioned, are available on EdgeProp’s Commercial Directory.
