At the heart of Adelphi Park Estate, located off Upper Thomson Road, are two freehold adjoining shophouses with a guide price of $10.5 million, or $2,665 psf on the floor area—5 and 7 Jasmine Road. Situated on a total site area of approximately 3,650 sq ft, the two-storey shophouses also encompass a combined existing floor area of about 3,940 sq ft.
The shophouses’ 2019 Master Plan zoning allows for commercial usage at the first storey with a gross plot ratio of 3.0 and building height control of up to four storeys. With their convenient location—about 50m away from Thomson Plaza shopping mall and mere minutes from Upper Thomson MRT Station (Thomson-East Coast Line) and Caldecott MRT Station (Circle Line)—these properties offer investors immediate rental income and long-term capital appreciation potential.
For those considering to redevelop the properties, the successful buyer is able to construct a four-storey building with commercial space on the first storey subject to the authorities’ approval. This could increase the total gross floor area to 10,950 sq ft.
The convenience of the shophouses doesn’t stop there. With numerous popular eateries and cafes along Upper Thomson Road, Sin Ming Plaza and Junction 8 shopping mall, as well as prestigious schools in the vicinity such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls’ School, Marymount Convent School and Whitley Secondary School, these properties can indeed be considered as rather desirable.
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.
This rare opportunity is exclusively offered through ERA Realty Network. As Steven Tan, managing director of capital markets and investment sales at ERA, puts it, “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.”
Offering convenience, potential and long-term investment value, 5 and 7 Jasmine Road provide an enticing opportunity for those looking for a piece of the action at Adelphi Park Estate.