An opportunity to invest in a pair of freehold shophouses has been made available in Singapore with an EOI exercise for the properties located at 5 and 7 Jasmine Road, off Upper Thomson Road. The guide price for the two-storey shophouses set at $10.5 million, or $2,665 psf on the floor area.
The properties have a combined floor area of about 3,940 sq ft and a total site area of approximately 3,650 sq ft. As per the 2019 Master Plan, they are zoned for “residential with commercial at 1st storey” use and have a gross plot ratio of 3.0, with a building height control of up to four storeys.
The shophouses are conveniently located, around 50m away from Thomson Plaza shopping mall and adjecent to Adelphi Park Estate, a landed-housing enclave, with access via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. Moreover, they are just a minute’s walk away from Upper Thomson MRT Station (situated on Thomson-East Coast Line), with Caldecott MRT Station (an interchange with the Circle Line) being just one stop away.
According to Steven Tan, Managing Director of capital markets and investment sales at ERA Realty Network, which is the exclusive marketing agent for the shophouses, the units offer potential for immediate rental income and long term capital appreciation.
The buyer could also consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey, subject to the approval of the authorities. It could have a gross floor area of about 10,950 sq ft.
The properties are close to a variety of amenities, including eateries, cafes and prestigious educational institutions, making it a prime location. Moreover, the units are being sold with existing tenancies and on an “as is where is” basis.
The EOI exercise for the two Jasmine Road shophouses will close on May 8th at 3pm.
This is an ideal opportunity for investors looking to purchase a freehold commercial property and for those who are interested in potential redevelopment plans. Considering its accessibility, proximity to amenities and possible redevelopments, buyers can look forward to the potential for high returns in the long run.