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

Two freehold shophouses are up for sale via Expression of Interest (EOI), located at 5 and 7 Jasmine Road off Upper Thomson Road. The two-storey shophouses have a total area of 3,650 sq ft, with an existing combined floor area of about 3,940 sq ft with a guide price of $10.5 million, or $2,665 psf on the floor area.

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. They are just a minute’s walk away from Upper Thomson MRT Station, while Caldecott MRT Station is just one stop away.

The shophouses offer an opportunity for investors to own immediate rental income with future capital appreciation potential in the long term. Alternately, the successful buyer can consider redeveloping the adjoining shophouses into a four-storey residential building.

Being located near numerous amenities and prestigious educational institutions, this is an attractive opportunity. The EOI exercise for the property will close on May 8 at 3pm.

The properties are for sale with existing tenancies and on an “as is where is” basis. ERA Realty Network is the exclusive marketing agent for the shophouses, where Steven Tan, managing director of capital markets and investment sales, comments, “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.”

Recent transactions of commercial property on Jasmine Road have been completed, and investors can find Singapore commercial properties with the EdgeProp commercial directory. Check out the Marina Gardens Condo 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 for more information.

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