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

A rare opportunity is now up for grabs in the market – two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road. These 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. The properties are launched for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.

The 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 around 50m away from Thomson Plaza shopping mall and adjacent to Adelphi Park Estate, this location is accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. What’s more, the properties are just a minute’s walk to Upper Thomson MRT Station (situated on Thomson-East Coast Line) and one stop away from Caldecott MRT Station (an interchange with the Circle Line).

Steven Tan, managing director of capital markets and investment sales at ERA Realty Network, says “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”. 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.

ERA Realty Network is the exclusive marketing agent for the shophouses. Investors may consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey, subject to the authorities’ approval. This could result in a gross floor area of about 10,950 sq ft.

The location is near numerous amenities, including popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall. Prestigious educational institutions such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School are also within a 1-2km radius.

It’s an ideal chance for investors to make the most of this rare opportunity – two freehold neighbouring shophouses located in an accessible area near plenty of amenities and educational institutions. With the EOI exercise closing on May 8 at 3pm, interested buyers should act fast to secure a good deal.

Find Singapore commercial properties with our commercial directory and check out the latest listings near Jasmine Road, Adelphi Park Estate, Upper Thomson MRT Station, Caldecott MRT Station, Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, Whitley Secondary School now.

Recent transactions of commercial property on Jasmine Road (Source: EdgeProp Research tool) show that buyers are likely to benefit from the properties’ future capital appreciation potential in the long run. Related news also report that two shophouses at Perak Road have been put up for sale at $13 mil, a 999-year Jalan Besar shophouse is selling for $5.9 mil, and a five-storey commercial shophouse at 32 Hongkong Street is up for sale at $8.5 mil.

Don’t miss this opportunity to take advantage of this rare chance!

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