NTUC FairPrice’s Freehold Upper Thomson Property for Sale

NTUC FairPrice Co-operative has placed its freehold industrial property at the intersection of Upper Thomson Road and Tagore Drive on the market for an expected price of approximately S$300 million. Market analysts suggest a price per square foot of around S$556.

CBRE has been tasked with marketing the property, which is located at 680 Upper Thomson Road and is conducting an expression-of-interest process. The site covers 263,900 square feet and has noteworthy redevelopment prospects.

According to the Urban Redevelopment Authority’s Draft Master Plan 2025, the land is designated for Business 1 with a 2.0 plot ratio, permitting a maximum gross floor area of about 627,271 square feet.

The property has existed primarily as a fresh food distribution center and was opened in 2003. Prior to that, it was utilized by FairPrice Group for various distribution services. The property is equipped with a state-of-the-art self-service facility, including a 750,000 square foot facility in Jurong.

This site presents a valuable opportunity for developers keen on creating strata industrial projects, potentially displacing uses such as warehousing or other similar functions.

Additionally, analysts believe that redevelopment could drive higher prices in an area that benefits from proximity to existing infrastructure and residential zones. In 2024, sales of similar properties are expected to exceed S$150 million.

Experts emphasize the ongoing demand for industrial properties, particularly as different industries pivot towards expanded logistical capacities.