Adjacent to Adelphi Park Estate and located just a minute’s walk away from Upper Thomson MRT station, two freehold adjoining shophouses have been launched for sale via expression of Interest (EOI) at a guide price of $10.5 million. It is estimated that the existing combined floor area of approximately 3,940 sq ft. spreads across a total site area of 3,650 sq ft with a gross plot ratio of 3.0 adopting a building height of up to four storeys as per the 2019 Master Plan.
The shophouses are situated off Upper Thomson Road, around 50m away from the Thomson Plaza shopping mall and are accessible via major roads and expressways: Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. Caldecott MRT Station (with an interchange of the Circle Line) is one stop away from Upper Thomson MRT.
The sale for the properties offers an opportunity for investors to enjoy rental income as well as potential capital appreciation in the long term. There is also an option of redeveloping the shophouses into a four-storey residential building with commercial space on the first storey. For this option, the successful buyer needs to receive approval from the authorities and can expect a gross floor area of about 10,950 sq ft accordingly.
A plethora of amenities located nearby, such as popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall, as well as prestigious educational institutions like Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School within a 1-2km radius, adds to the appeal of these shophouses.
The 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.
Steven Tan, managing director of capital markets and investment sales at ERA Realty Network says, “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.” ERA is the exclusive marketing agent for the shophouses.