Two freehold shophouses located at 5 and 7 Jasmine Road off Upper Thomson Road have been put up for sale via a guide price of $10.5 million. The two-storey properties have a total site area of roughly 3,650 sq ft and a combined floor area of 3,940 sq ft. The properties are allowed a maximum of four storeys with a commercial space at the 1st storey as per the 2019 Master Plan.
Map of 5 Jasmine Road (Source: EdgeProp LandLens)
The shophouses are positioned close to amenities such as Thomson Plaza shopping mall, popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, Junction 8 shopping mall, Upper Thomson MRT Station and Caldecott MRT Station.
“It provides investors a golden opportunity to own a pair of freehold shophouses that offers immediate rental income and future capital appreciation potential,” says Steven Tan, managing director of capital markets and investment sales at ERA Realty Network.
Alternatively, the successful buyer can consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey. If approved, the redeveloped building could have a gross floor area of about 10,950 sq ft.
Moreover, 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 located within a 1-2km radius from the properties.
The shophouses are for sale with existing tenancies and on an “as is where is” basis. The expression of interest (EOI) exercise for the properties will close on May 8 at 3pm.
Recent transactions of commercial property on Jasmine Road (Source: EdgeProp Research tool)
– Two shophouses at Perak Road up for sale at $13 mil
– 999-year Jalan Besar shophouse selling for $5.9 mil
– Five-storey commercial shophouse at 32 Hongkong Street for sale at $8.5 mil
An exclusive chance to invest in two freehold shophouses located at 5 and 7 Jasmine Road off Upper Thomson Road is up for sale via expression of interest (EOI). Both properties have a floor area of approximately 3,940 sq ft and a total site area of 3,650 sq ft.
The properties are zoned for “residential with commercial at 1st storey” use as per the 2019 Master Plan with a maximum height control of four storeys and a gross plot ratio of 3.0. Being 50m away from Thomson Plaza shopping mall and adjacent to Adelphi Park Estate, the shophouses 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.
Upper Thomson MRT Station (situated on Thomson-East Coast Line) is just a minute’s walk away and Caldecott MRT Station (an interchange with the Circle Line) is one stop away.
ERA Realty Network is the exclusive marketing agent for these shophouses. The properties are located nearby several amenities and prestigious educational institutions as well and the EOI exercise will close on May 8 at 3pm. Lastly, the properties will be sold with existing tenancies and on an “as is where is” basis.