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

A portfolio consisting of seven commercial units at the shopping mall located along Upper Thomson Road, Thomson Plaza, is up for sale. According to Micah Lim, senior associate director at JKL Consultants who is marketing the units, the total floor area measures 5,102 sq ft with a starting price of $28 million. The units are leased to tenants such as Pizza Hut, KFC, and a dental clinic, and will be sold with the existing tenancies.

The single-level, regular floor plan offers flexibility as it can be used for various F&B options such as a buffet restaurant, food court, or fast food outlets, subject to approval from the Thomson Plaza Management Corporation Strata Title and relevant authorities. Potential buyers may also consider applying to strata subdivide the units to maximize yields.

Thomson Plaza is part of a wider strata mixed-use development, built in 1979. It has a total gross floor area of 467,298 sq ft and is directly connected to the Upper Thomson MRT Station on the Thomson-East Coast line.

In 2016, Mercatus Co-operative, a unit of NTUC Enterprise Co-operative, acquired strata ownership of 110,000 sq ft of retail space in the mall. They later proceeded to enter into a sale and purchase agreement with Link REIT, the largest REIT in Asia. Link REIT Tengah Plantation EC is expected to draw more shoppers through its management of the space, potentially leading to redevelopment and the acceleration of the en bloc process.

The completion of the Johor Bahru-Singapore Rapid Transit System (RTS) Link in 2026 is also expected to bring positive growth to the mall. 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.