With a guide price of $10.5 million, two adjoining freehold shophouses located at 5 and 7 Jasmine Road off Upper Thomson Road have been released for sale via expression of interest (EOI). The two-story properties have a total site area of 3,650 sq ft with an existing combined floor area of 3,940 sq ft.
With a gross plot ratio of 3.0 and a building height control of up to four storeys under the 2019 Master Plan, these shophouses are zoned for “residential with commercial at the 1st storey” use.
Situated in close vicinity to Upper Thomson MRT Station and Caldecott MRT Station, the properties have easy access to several major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. Adelphi Park Estate, a landed-housing enclave, is adjacent to them and Thomson Plaza shopping mall is just 50m away.
ERA Realty Network, the exclusive marketing agent for the shophouses, sees the rare opportunity as having potential for lasting capital appreciation. A potential redevelopment of the two shophouses into a four-storey property with commercial space on the first floor (subject to the authorities’ approval) could yield a gross floor area of about 10,950 sq ft.
The shophouses are already tenanted, so buyers can enjoy immediate rental income. Moreover, the properties are located in close proximity to numerous amenities such as eateries, cafes, and prestigious educational institutes like Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School, and Whitley Secondary School.
The EOI exercise for the shophouses will close on May 8 at 3pm.