Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been launched for sale via expression of interest (EOI) at a guide price of $10.5 million, or $2,665 psf on the floor area. (Photo: ERA)
SINGAPORE (EDGEPROP) - Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been 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 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 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.
Map and overview of 5 Jasmine Road (Source: EdgeProp LandLens)
The shophouses are around 50m away from Thomson Plaza shopping mall and are adjacent to Adelphi Park Estate, a landed-housing enclave. They are accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. The properties are just a minute’s walk away from Upper Thomson MRT Station (situated on Thomson-East Coast Line), while Caldecott MRT Station (an interchange with the Circle Line) is just one stop away.
“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,” says Steven Tan, managing director of capital markets and investment sales at ERA Realty Network. ERA is the exclusive marketing agent for the shophouses.
Recent transactions of commercial property on Jasmine Road (Source: EdgeProp Research tool)
Alternatively, the successful buyer can consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey, says Tan. Subject to the authorities’ approval, the reveloped building could have a gross floor area of about 10,950 sq ft. (Find Singapore commercial properties with our commercial directory)
The properties are located 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 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.
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