Seven commercial units at Thomson Plaza for sale at $28 mil

Thomson Plaza, a shopping mall along Upper Thomson Road, is home to seven contiguous commercial units, now collectively up for sale, with a starting price of $28 million. The units, located on level two at the front podium of the mall, have a total floor area measuring 5,102 sq ft and are approved for permanent F&B usage, currently leased out to Pizza Hut, KFC, and a dental clinic.

The potential for redevelopment or Senja Close EC en bloc may be accelerated with Link REIT, the largest REIT in Asia, now owning a majority stake in the mall through its 2016 acquisition of a 110,000 sq ft retail space.

Despite already being leased out, Lim of JKL Consultants, who is marketing the units, highlights the flexibility offered by their large, single-level and regular floor plan. Options include a buffet restaurant, food court, or fast food outlets, subject to approval by the relevant authorities. The new owner may also consider applying to strata subdivide the units to maximise yields.

The completion of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, targeted for 2026, will also be a boost for Thomson Plaza. The Upper Thomson MRT Station is seven stops away from the Woodlands North MRT Station, which will be connected to the Woodlands North RTS Link station.

Built in 1979, the entire site of Thomson Plaza is zoned for commercial use under the URA Master Plan 2019. Aside from the mall, it also comprises Marigold Mews, a townhouse development along Marigold Drive. It has 180 shops and a total gross floor area of 467,298 sq ft, directly linked to the Upper Thomson MRT Station on the Thomson-East Coast line.

Recent resale transactions of strata retail units at the mall indicate it is an attractive asset, given the potential for development in the near future. Link REIT’s management of the space will draw in more shoppers, and with the RTS Link in the horizon, the area will likely benefit greatly.