For sale is a portfolio of seven commercial units at Thomson Plaza, a shopping mall along Upper Thomson Road. One single strata lot is held collectively by the contiguous units, and they have been listed with an asking price of $28 million.
Measuring 5,102 sq ft in total, the units are found on the level two at the front podium of the mall, approved for permanent Food and Beverage (F&B) usage. Pizza Hut, KFC and a dental clinic currently occupy the units and have been tenants for around 18 years, which will be sold along with the property.
Thanks to its single-level, regular floor plan, the potential for different F&B entertainment is possible, given the necessary authorisation from the Thomson Plaza Management Corporation Strata Title (MCST) and relevant authorities.
Strata subdivision can also be considered by the new owner in order to maximise yields for their investment. Thomson Plaza is situated in a strata mixed-use development and was constructed in 1979, covering not only the mall, but also the townhouse development along Marigold Drive.
Under the URA Master Plan 2019, the entire site is zoned for commercial use. It consists of 180 shops and a total gross floor area of 467,298 sq ft. Upper Thomson MRT Station, part of the Thomson-East Coast line, is conveniently connected to Thomson Plaza.
In 2016, Mercatus Co-operative – a unit of NTUC Enterprise Co-operative – purchased strata ownership of 110,000 sq ft of retail space in the mall, which is now known as Swing By @ Thomson Plaza.
At the end of last year, plans were announced to sell the entire interest in Swing By @ Thomson Plaza to Hong Kong-listed Link REIT, the largest REIT in Asia. Expected to complete in March of this year, the change of ownership is hoped to increase the number of shoppers, as well as provide a platform for redevelopment or a collective sale.
The completion of the Johor Bahru-Singapore Rapid Transit System (RTS) Link in 2026 will also be a great benefit to Thomson Plaza. The Upper Thomson MRT Station is only seven stops away from Woodlands North MRT Station – the endpoint Champions Way Condo of the RTS Link.