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

$28 million is the starting price for 7 commercial units located on level two at the front podium of Thomson Plaza, a shopping mall along Upper Thomson Road. The units, totaling in 5,102 sq ft, are approved for permanent F&B usage and are held under one single strata lot. They are currently leased out, with tenants including Pizza Hut, KFC and a dental clinic. These units are being sold with the existing tenancies.

The units offer a large, single-level, regular floor plan which offers flexible F&B possibilities such as a buffet restaurant, food court, or for fast food outlets, subject to approval by the Thomson Plaza Management Corporation Strata Title (MCST) and relevant authorities. Additionally, new owners may consider applying to strata subdivide the units for higher yields.

Thomson Plaza is part of a wider strata mixed-use development built in 1979. It comprises the mall as well as Marigold Mews, a townhouse development along Marigold Drive. The entire site is zoned for commercial use under the URA Master Plan 2019, with 180 shops and a total gross floor area of 467,298 sq ft. It is directly linked 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 Thomson Plaza, comprising 50% of the net lettable area within the mall. On Dec 28, 2022, Mercatus announced it had entered a sale and purchase agreement with various subsidiaries of Hong Kong-listed Link REIT to divest its entire interest in Swing By @ Thomson Plaza. The deal is expected to be completed on March 31.

Link REIT’s management of the space Tengah EC could draw more shoppers, with potential for redevelopment or en bloc acceleration. This can be further boosted by the completion of the Johor Bahru-Singapore Rapid Transit System (RTS) Link in 2026; the Upper Thomson MRT Station is seven stops away from the Woodlands North RTS Link station.