Thomson View Condo Collective Sale Relaunched at S$918 Million

Thomson View Condo Collective Sale Relaunched at S$918 Million

Thomson View Condominium has hit the market again with an unchanged reserve price of S$918 million, marking another attempt at a successful collective sale.

The 99-year leasehold development, which was last up for sale in February, is aiming to attract potential buyers with its prime location and redevelopment potential.

The reserve price of S$918 million translates to a land rate of S$1,275 per square foot per plot ratio (psf ppr).

This figure includes an estimated S$630 million required to upgrade the lease to a fresh 99-year period and a land betterment charge for the intensification of land use.

The total effective acquisition cost for Thomson View condo stands at approximately S$1.55 billion.

Development Potential of Thomson View Site

Marketing agent Edmund Tie announced on Wednesday (Jul 3) that the authorities have advised there is no objection in principle to the proposed redevelopment of the condominium.

The new development could yield 1,240 units, based on an average apartment size of 85 square meters.

Additionally, developers can benefit from a 7 percent bonus gross floor area (GFA) over and above the allowable gross plot ratio, which can be used for balconies.

The Thomson View en bloc site spans 50,197 square meters and is zoned for “residential” use with a plot ratio of 2.1. This zoning allows for a total GFA of 112,792 square meters.

The current lease of the development started in 1975, and the condo comprises 200 apartments, 54 townhouses, and a shop unit.

Each unit owner stands to receive between S$2.5 million and S$4.39 million upon successful sale.

Location and Appeal

Swee Shou Fern, Edmund Tie’s head of investment advisory, emphasized the development’s prime location and its appeal to urban dwellers and families.

“These days, buyers are becoming more targeted in their choices and they look at many other factors beyond pricing, such as location. The new project will be able to provide the ideal setting for urban dwellers and families to enjoy ready access to amenities – live, work, play, learn, right at the doorstep,” she said.

The tender for Thomson View condominium will close on Sep 6, presenting a significant opportunity for developers looking to capitalize on its prime location and redevelopment potential.

Thomson View Condo En Bloc All Details
  • Status: For Sale

  • Tenure: 99-year Leasehold

  • Land Size: 540,314 sq ft

  • Gross Plot Ratio: 2.1

  • Nearby MRT: Upper Thomson

  • Address: 7 Bright Hill Drive

  • District: 20

  • Marketing Agent: Edmund Tie

  • Reserve Price: S$918 Million

  • Tender Close: Sep 6, 2024

Recent En Bloc Properties Sold

  1. Delfi Orchard (Record Price)
  2. Noel Building
  3. Shenton House
  4. Kew Lodge 
  5. GSM Building 
  6. GS Building