Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil

Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil

vulcanismo 12 April 2023

Offering immediate rental income and long-term capital appreciation potential, two freehold shophouses located at 5 and 7 Jasmine Road are up for sale via expression of interest (EOI) at 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, with an existing combined floor area of about 3,940 sq ft. Located in the heart of Upper Thomson and surrounded by a number of popular eateries, cafes, and prestigious educational institutions, the properties 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.

The properties are situated close to amenities such as Upper Thomson Plaza shopping mall and Adelphi Park Estate. Additionally, they are easily accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway, with Upper and Caldecott MRT stations just a minute’s walk away.

Steven Tan, Managing Director of Capital Markets and Investment Sales at ERA Realty Network, explains that this rare opportunity offers investors a great return-on-investment potential.

“The successful buyer can consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey, subject to the authorities’ approval. The redeveloped building could have a gross floor area of about 10,950 sq ft.”

Offered on an “as is where is” basis with existing tenancies, the EOI exercise for the property closes on May 8 at 3pm.

For those who wish to invest in Singapore’s commercial property market, this is a great chance to own two freehold shophouses for immediate rental income and future capital appreciation potential.​