Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, are now up for sale via expression of interest (EOI). The guide price for the properties is $10.5 million, or $2,665 per sq ft on the floor area.
With a total site area of around 3,650 sq ft and a combined floor area of 3,940 sq ft, both two-storey shophouses are situated near multiple amenities. These include popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza, and Junction 8 shopping mall.
The shophouses are conveniently accessible via major roads and expressways, such as Upper Thomson Road, Lornie Road, Braddell Road, Marymount Road, and the Pan Island Expressway. They are also near key transport links like Upper Thomson and Caldecott MRT stations, both of which are within a one-stop distance.
Prestigious educational institutions such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School are all within a 1-2km radius.
“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, which is the exclusive marketing agent for the shophouses.
The properties are currently 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. As such, the successful buyer may consider redeveloping the shophouses into a four-storey building with commercial space on the first floor. This could give a gross floor area of approximately 10,950 sq ft – subject to the authorities’ approval.
Importantly, both shophouses 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.