SINGAPORE — Thomson View Condominium is up for collective sale again – from 12 May – at the same guide price of S$950 million via public tender, according to marketing agent OrangeTee Advisory.
When the property was launched for collective sale last November, it was the largest residential collective sale effort by price quantum in 2021.
“However, due to the small window of less than one month between the announcement of property cooling measures in December 2021 and the tender close in January 2022, the prospective buyers decided to hold back on their acquisition decisions," Marcus Oh, managing director at OrangeTee Advisory, said in a statement.
"We have since observed keen interest in developers to replenish their diminishing land banks and decided to put the development on the market again,” Oh said.
The 35-year-old development sits on a site of about 540,314 sq ft and comprises 200 apartments, 54 townhouses and a shop unit. The site is near the Upper Thomson MRT Station along the Thomson-East Coast Line and is 10 minutes from Orchard station and less than 20 minutes from the Central Business District.
Under Master Plan 2019, the site is zoned for residential development with a gross plot ratio of 2.1.
The reserve price translates to a land rate of S$1,294 per sq ft per plot ratio, after factoring in an additional 7 per cent of bonus gross floor area for private outdoor spaces, an estimated differential premium of S$288.8 million for intensification and about S$332.3 million in upgrading premium for a fresh 99-year lease.
The tender will close at 3pm on 8 June.
Stay in the know on-the-go: Join Yahoo Singapore's Telegram channel at http://t.me/YahooSingapore