Situated off Upper Thomson Road and adjacent to Adelphi Park Estate, two freehold adjoining shophouses located at 5 and 7 Jasmine Road have been made available for sale via expression of interest (EOI).
This rare opportunity offers investors a chance to own a pair of freehold shophouses with an existing combined floor area of 3,940 sq ft, at a guide price of $10.5 million, or $2,665 psf on the floor area.
The shophouses are conveniently situated within 50 metres of the popular Thomson Plaza shopping mall and 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. Furthermore, they are only a minute’s walk away from Upper Thomson MRT Station, and just one stop away from the Caldecott MRT Station interchange with the Circle Line.
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. The potential buyer could consider redeveloping the adjoining shophouses into a four-storey residential building with commercial space on the first storey, subject to authorities’ approval — this would yield a gross floor area of approximately 10,950 sq ft.
The shophouses are also situated close to a wide range of amenities including eateries, cafes, and prestigious educational institutions.
The properties come with existing tenancies and are for sale on an “as is where is” basis. The EOI exercise for the property will close on May 8 at 3pm.
Recent transactions of commercial property on Jasmine Road have been favourable, making this a potentially profitable investment. Furthermore, the sale of these shophouses promises investors not only immediate rental income, but also capital appreciation potential in the long term.
J’den Condo, a 40-storey residential and J’Den Condo commercial development located at Jurong East MRT Station by CapitaLand, will replace JCube and is expected to launch in 2023 at S$2,000-2,100 psf. It will be connected to amenities in the Jurong Lake District.
Hence, these two freehold shophouses, located at 5 and 7 Jasmine Road and offering a variety of potential uses and perks, are an excellent investment opportunity. With an existing combined floor area of 3,940 sq ft and a guide price of $10.5 million, potential purchasers should take advantage of this unique opportunity.
