{"id":88041,"date":"2018-05-14T10:01:51","date_gmt":"2018-05-14T03:01:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/peak-court-sold-en-bloc-for-118-88m\/"},"modified":"2018-05-14T10:02:52","modified_gmt":"2018-05-14T03:02:52","slug":"peak-court-sold-en-bloc-for-118-88m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/peak-court-sold-en-bloc-for-118-88m\/","title":{"rendered":"Peak Court sold en bloc for $118.88m"},"content":{"rendered":"


\nThe purchase price is higher than the asking price of $106 million. (Photo: ET&Co)
\nPeak Court, a four-storey residential project at Thomson Road, has been sold via collective sale for $118.88 million, higher than the asking price of $106 million, marketing agent Edmund Tie & Company (ET&Co) said on Friday (11 May).
\nThe freehold project was purchased by TSRC Novena, a joint venture between Tuan Sing Holdings and Rich Capital.
\nMore: Freehold Peak Court On Sale For $106m
\n\u201cWe are happy with the team\u2019s success in clinching the site in this competitive bidding environment. This acquisition is in line with Tuan Sing\u2019s focus on offering quality homes in central locations and is a good addition to our land bank,\u201d said Tuan Sing Holdings CEO William Liem.
\n\u201cThe site\u2019s strategic location and proximity to lifestyle and premium medical facilities such as Thomson Medical Centre, the future Health City Novena, Novena Square, United Square and the excellent transport connectivity, opens up various exciting redevelopment opportunities.\u201d
\nThe purchase price of the development comprising 20 maisonettes translates to $1,558 psf per plot ratio based on its gross plot ratio of 1.4 and land area of 57,378 sq ft.
\nLocated within prime District 11, the site is close to Novena MRT station, while the Orchard Road shopping belt and Singapore\u2019s central business district are just a short drive away.
\nET&Co noted that the site could be redeveloped into a luxury boutique condominium with about 106 units.
\n\u201cWe are happy that all owners are united in the collective sale with 100 percent owners\u2019 consent,\u201d said Hamish Macalister, chairman of Peak Court\u2019s collective sale committee.
\nET&Co is also handling the en bloc sale of Casa Meyfort, a 76-unit freehold condominium in Meyer Road, with the tender exercise closing on 21 May.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Peak Court sold en bloc for 8.88m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The purchase price is higher than the asking price of $106 million. (Photo: ET&Co) Peak...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-88041","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-mU1","jetpack-related-posts":[{"id":51779,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-acquires-freehold-site-in-hillview\/","url_meta":{"origin":88041,"position":0},"title":"Tuan Sing acquires freehold site in Hillview","date":"April 13, 2017","format":false,"excerpt":"\r Located close to the Hillview MRT station, the site is expected to yield 100 residential units.\u00a0 Tuan Sing Holdings plans to develop 100 homes on a 43,557 sq ft freehold site in the Hillview area that it is in the process of acquiring for $47.8 million in cash, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-targeting-august-launch-for-kandis-residence\/","url_meta":{"origin":88041,"position":1},"title":"Tuan Sing targeting August launch for Kandis Residence","date":"August 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Kandis Residence in Sembawang. (Source: Tuan Sing Holdings) Singapore-listed Tuan Sing Holdings is targeting to launch Kandis Residence in Sembawang as early as this month, PropertyGuru understands. The 130-unit condominium at Kandis Link will comprise four low-rise blocks. Conceptualised by award-winning architectural firm Ong & Ong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83139,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-peak-court-on-sale-for-106m\/","url_meta":{"origin":88041,"position":2},"title":"Freehold Peak Court on sale for $106m","date":"March 19, 2018","format":false,"excerpt":"\r View from Peak Court at Thomson Road. (Photo: Edmund Tie & Co) Peak Court in Thomson Road is the latest residential project to go en bloc at an asking price of $106 million, after 100 percent of the owners consented to the sale. Completed in the 1980s, the freehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/","url_meta":{"origin":88041,"position":3},"title":"Tuan Sing net profit fell 44% in Q1","date":"April 28, 2017","format":false,"excerpt":"\r Tuan Sing\u2019s gross revenue declined by 29 percent year-on-year to S$74.8 million in the first quarter of 2017, while net profit slumped 44 percent to S$5.4 million as it has sold most of the units at its residential projects completed in 2016, revealed an SGX filing on Thursday, 27\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-in-district-10-sold-for-record-2910-psf-ppr\/","url_meta":{"origin":88041,"position":4},"title":"Park House in District 10 sold for record $2,910 psf ppr","date":"June 14, 2018","format":false,"excerpt":"\r The freehold development along Orchard Boulevard was sold to a unit of Hong Kong-listed Shun Tak Holdings for $375.5 million. (Photo: CBRE) Park House, a freehold 60-unit development along Orchard Boulevard in District 10 has been sold for $375.5 million, which works out to a record $2,910 psf per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/","url_meta":{"origin":88041,"position":5},"title":"Freehold Olina Lodge sold for $230.9m","date":"April 23, 2018","format":false,"excerpt":"\r The sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million, and works out to a land rate of $1,712 psf ppr. (Photo: SRI) The freehold Olina Lodge at 15 Holland Hill has been successfully sold for $230.9 million to Peak Opal, a unit of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/88041"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=88041"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/88041\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=88041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=88041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=88041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}