{"id":123140,"date":"2021-11-10T01:15:21","date_gmt":"2021-11-09T18:15:21","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thomson-view-up-for-en-bloc-sale-for-950mil\/"},"modified":"2021-11-10T10:05:31","modified_gmt":"2021-11-10T03:05:31","slug":"thomson-view-up-for-en-bloc-sale-for-950mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thomson-view-up-for-en-bloc-sale-for-950mil\/","title":{"rendered":"Thomson View up for en bloc sale for $950mil"},"content":{"rendered":"


\nThomson View Condominium is a 50,197 sq m site with a reserve price of $950 million. Source: Google Maps
\nThe owners of Thomson View Condominium have once again put up the 99-year leasehold development for collective sale, with a reserve price of $950 million, reported The Business Times (BT), citing exclusive marketing agent OrangeTee Advisory.
\nThis makes the 34-year-old property the biggest residential site by price quantum to be launched for en bloc sale this year.
\nThe reserve price works out to a land rate of $1,293 per sq ft per plot ratio (psf ppr), after factoring in the additional 7% bonus gross floor area for balconies, the $296 million differential premium for intensification and the $324 million upgrading premium for a fresh 99-year lease.
\nData from the Urban Redevelopment Authority (URA) as at 8 November showed that units sold at Thomson View since 2019 were transacted at between $939 psf and $1,142 psf.
\nFeaturing 200 apartment units, 54 townhouses and a shop unit, Thomson View Condominium occupies a 50,197 sq m site that is zoned for residential use under the 2019 Master Plan with a gross plot ratio of 2.1. The site could yield up to 1,240 new housing units, subject to the relevant authorities\u2019 approval.
\nThe District 20 development is located near amenities including Thomson Plaza, Upper Thomson MRT station, as well as nature parks such as Lower Peirce Reservoir Park and MacRitchie Reservoir Park.
\nIt is also close to various schools, including Ai Tong School, CHIJ St. Nicholas Girls School and Catholic High School.
\nOrangeTee Advisory Managing Director Marcus Oh expects sites within the Rest of Central Region which are near amenities and transport nodes to continue to attract home buyers and developers.
\n\u201cThis sizeable five-hectare Thomson View plot is ideal for developers or consortiums looking to create a signature landmark project in the ever-popular District 20 locale,\u201d he said as quoted by BT.
\nCollective sale committee chairman Henry Toi is \u201coptimistic about a good outcome\u201d, after noting the better-than-expected tender results achieved for the government land sale sites at nearby Lentor Central and Ang Mo Kio Avenue 1.
\nThe tender for Thomson View closes on 13 January 2022.
\nIn 2013, the condominium was put up for en bloc sale for $590 million. However, the High Court voided the deal after it found that HSR International Realtors, the property\u2019s former marketing agent, had offered incentive payments to four owners in exchange for signing the sale agreement.
\nIn 2018, the owners also failed in four collective sale attempts even as they raised the reserve price at $938 million due to failure to meet the requisite 80% approval rate to commence a sale.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Thomson View up for en bloc sale for 0mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Thomson View Condominium is a 50,197 sq m site with a reserve price of $950...<\/p>\n","protected":false},"author":1,"featured_media":123141,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-123140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/thomson-view.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-w28","jetpack-related-posts":[{"id":85640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/faber-garden-up-for-en-bloc-sale-with-1-18b-reserve-price\/","url_meta":{"origin":123140,"position":0},"title":"Faber Garden up for en bloc sale with $1.18b reserve price","date":"April 17, 2018","format":false,"excerpt":"\r Faber Garden could become the largest en bloc deal this year if the sale goes through. (Photo: CBRE) Faber Garden, a 236-unit freehold development at Angklong Lane off Upper Thomson Road, has been launched for en bloc sale with a reserve price of $1.18 billion, marketing agent CBRE said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":123140,"position":1},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88041,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/peak-court-sold-en-bloc-for-118-88m\/","url_meta":{"origin":123140,"position":2},"title":"Peak Court sold en bloc for $118.88m","date":"May 14, 2018","format":false,"excerpt":"\r The purchase price is higher than the asking price of $106 million. 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