Two freehold adjoining shophouses located in the Jasmine Road area of Upper Thomson Road, Singapore, have been put up for sale via an expression of interest (EOI). The two-story shophouses have a combined floor area of around 3,940 sq ft and combined site area of 3,650 sq ft, with a gross plot ratio of 3.0 and a building height control of four storeys in accordance with the 2019 Master Plan.
Steven Tan, managing director of the ERA Realty Network, the exclusive marketing agent for the shophouses, states that this is an exceptional opportunity for investors to acquire a pair of freehold shophouses, providing both immediate rental income and long-term capital appreciation. Alternatively, the successful buyer has the choice to redevelop the properties into a four-storey residential building with commercial space on the first storey, if approvals are granted.
The shophouses are situated in close proximity to Thomson Plaza shopping mall and Adelphi Park Estate, a landed-housing enclave. They are well-connected via major roads and expressways, such as Upper Thomson Road, Lornie Road, Braddell Road, Marymount Road and the Pan Island Expressway, as well as being within one minute’s walk of the Upper Thomson MRT Station and one stop away from Caldecott MRT Station (an interchange with the Circle Line).
Surrounding amenities are abundant and include various popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall. Additionally, several prestigious educational institutions, such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School, are within a 1-2km radius.
The EOI exercise for the property will close on 8th May at 3pm, with the properties being sold in an “as is where is” basis with existing tenancies. The guide price for the shophouses is $2,665 psf on the floor area, which comes to a total of $10.5 million.
For potential buyers, this is a rare chance to be a part of prime real estate in the bustling neighbourhood of Upper Thomson. With the promise of immediate returns and prospects of future capital appreciation, this venture brings with it plenty of exciting opportunities.