International property consultant, Colliers International is putting up for sale a retail unit located at the basement of Thomson Imperial Court.
Located at 200 Upper Thomson Road, Thomson Imperial Court is a freehold four-storey mixed development – comprising retail shops on the first and basement levels, and 36 residential units spread across the other 3 levels.
The subject property has a net lettable area of approximately 11,011 sq ft, taking up some 23 per cent of the building’s share value. It is currently tenanted to an established supermarket operator until December 2016, with an option to renew for 3+3 years.
Ms Grace Ng (黄黎明), Deputy Managing Director of Colliers International, says, “Freehold strata retail units are rarely made available in the market, much less one that is of a substantial size. The retail unit for sale is located within a development that has prominent road frontage and enjoys high pedestrian traffic from the nearby service retailers, food and beverage establishments, as well as the Thomson Community Club.
Additionally, the subject property enjoys an immediate catchment area of the nearby landed and HDB residential estates along Sin Ming Road and Shunfu Road, as well as industrial estates at Sin Ming Road and Jalan Pemimpin.”
Ms Ng continues, “This is an opportunity for investors to buy a freehold retail property that gives strong and stable returns for the mid-term. Subject to approval by the relevant authorities, the buyer could potentially achieve a higher yield by sub-dividing the retail unit or converting it into other usages such as a food and beverage outlet, a childcare centre, a games arcade, a fitness centre, a beauty centre or a school upon the expiry of the current lease.
Recent retail transactions at Thomsom Imperial Court were concluded at an average of S$2,238 per sq ft. Meanwhile, strata retail units at the nearby freehold Thomson V Two were sold last year for between S$1,983 per sq ft and S$2,700 per sq ft.”
The subject development is well-served by public transport facilities with the nearby Marymount MRT station and the upcoming Upper Thomson MRT station, as well as numerous bus services. Amenities are easily available along Upper Thomson Road, Sin Ming Plaza, Thomson Plaza, and Shunfu Road Market and Food Centre, among others. Nearby landmarks include various reputable schools, Mount Alvernia Hospital and MacRitchie Reservoir Park.