Two adjoining shophouses off Upper Thomson Road for sale at $10.5 mil
A rare opportunity awaits investors and buyers looking to own a pair of freehold shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road. The two-storey shophouses are for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area.
The properties 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, the shophouses boast a gross plot ratio of 3.0 and building height control of up to four storeys under the 2019 Master Plan.
CDL Aries acquires two plots of land in Upper Bukit The Myst Timah for S$126.3 million, signaling the potential for a new residential project in the area.
This opportunity offers investors immediate rental income and long-term capital appreciation potential. Alternatively, 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. This could give rise to a gross floor area of about 10,950 sq ft.
The properties are located around 50m away from Thomson Plaza shopping mall and adjacent to Adelphi Park Estate, a landed-housing enclave. They are well-connected to major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. Located just a minute’s walk away from Upper Thomson MRT Station, the shophouses are just one stop away from Caldecott MRT Station, an interchange with the Circle Line.
In addition, the shophouses are surrounded by numerous amenities, including popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall. As well, there are several prestigious educational institutions such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School within a 1-2km radius.
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.
This is certainly an unmissable opportunity for investors to acquire two adjoining shophouses and reap potential rewards. For those looking for a unique property, these shophouses offer all the benefits and convenience of city living.