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

At the junction of Upper Thomson Road and Jasmine Road lies two freehold connecting shophouses, which are now up for sale via expression of interest (EOI) with a guide price of ten and a half million dollars. This equates to two thousand six hundred and sixty-five Singapore dollars psf for the floor area.

Standing two-storey tall, the properties occupy a total area of three thousand six hundred and fifty square feet and boast an existing floor area of thirty-nine hundred and forty square feet. The area is designated for both residential and commercial use, with a gross plot ratio of three, and a building height limit of four stories, in line with the 2019 Master Plan.

With an array of amenities and services in close proximity, the shophouses are just fifty metres away from the local shopping mall, and a minute’s walk from Upper Thomson MRT Station, with the Caldecott MRT interchange just one stop away. Steven Tan, managing director of capital markets and investment sales at ERA Realty Network, highlights the buyer’s options for this purchase.

Firstly, the shophouses can be rented out for immediate rental income, as well as future capital appreciation. Alternatively, if approved by the authorities, the two shophouses can be redeveloped into a four-storey residential building with a commercial space on the first floor, which would boast a total floor area of ten thousand nine hundred and fifty square feet.

The sale of these properties comes with existing tenancy and is sold as-is-where-is, to any interested buyer. The deadline for the EOI is 3 pm on May 8th.

This area is home to a number of services and amenities, including popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, and the nearby Junction 8 shopping mall. It also sits near some of Singapore’s renowned educational institutions, such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School, which are within a one to two kilometre radius.

What’s more, with recent commercial transactions taking place in the surrounding area, the shophouses of Jasmine Road offer a unique chance for a highly profitable investment.

This rare opportunity offers the potential for both immediate rental income and long-term capital appreciation. The two freehold shophouses at 5 and 7 Jasmine Road are located in a strategic location, just a stone’s throw away from Upper Thomson MRT Station, as well as other major expressways and roads.

In close proximity to a range of amenities such as popular eateries and cafes, as well as prestigious educational institutions, the properties are easily accessible via roads such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road, and the Pan Island Expressway.

The EOI exercise for the shophouses closes on May 8th at 3 pm. If approved by the authorities, the successful buyer is also able to consider redeveloping the properties into a four-storey residential building with commercial space on the first storey, which would have a gross floor area of about 10,950 sq ft.

For those interested in investing in the shophouses of Jasmine Road, now is the time to act and take advantage of this exclusive opportunity.