Freehold commercial unit at Thomson Imperial Court for $19.5 mil

SINGAPORE (EDGEPROP) - An 11,011 sq ft, commercial unit at Thomson Imperial Court is on the market for $19.5 million, or about $1,771 psf on the strata area.

The freehold development is located along Upper Thomson Road and was completed in 1999. The commercial unit for sale is in the basement and enjoys direct access to the carpark.

The unit is tenanted to Sheng Siong Supermarket, which is the anchor tenant in the development. The unit represents about 23% of the share value stake in Thomson Imperial Court.

“Having a good tenant provides strong and steady cash flow in all property investment. This asset can be added on to any real estate portfolio, to generate income stream and potentially enjoy capital appreciation,” says Tony Koe, managing director at Singapore Realtors Inc (SRI), which is marketing the unit.

Low Choon Sin, managing partner at SRI Capital Markets, says: “The majority share value stake will provide a single owner with influence in the possibility of a future collective sale of the development.”

Low adds that it is rare to see a commercial unit of this size available for sale, especially as most strata commercial units are tightly held by owners. He expects the unit to appeal to local and foreign investors. There will be no additional buyer’s stamp duty or seller’s stamp duty imposed on the sale, and foreigners and companies can purchase the property.

Thomson Imperial Court’s retail podium is from the basement 1 to the first floor, and it has a residential block which occupies the remaining second to fourth floors.

The development enjoys high street visibility and is within a five-minute walk to the upcoming Upper Thomson MRT Station on the Thomson-East Coast Line. It is also connected to the Pan-Island Expressway (PIE) and the Central Expressway (CTE).

The unit will be offered through an Expression of Interest exercise, which closes on June 4.

Source: EdgeProp, 4 May 2020