by OrangeTee & Tie Pte Ltd.

Thomson View Condominium to be relaunched for en bloc sale at S$950 million

Investment Sales and Enbloc

Singapore, 11 May 2022

On Wednesday, marketing agent OrangeTee Advisory stated that Thomson View Condominium would be offered for collective sale at the same reference price of S$950 million (May 11). 
It was the greatest home collective selling endeavor by price quantum in 2021 when the last tender was issued last November.

The public tender for the relaunch will commence on May 12 and finish at 3 p.m. on June 8, 2022. Thomson View, which lies on a 540,314 sq ft land near Upper Thomson MRT station, was completed in 1987. It has 200 flats, 54 townhouses, and a retail space. The land is allocated for residential construction under Master Plan 2019, with a gross plot ratio of 2.1.

"The reserve price translates to a land rate of S$1,294 per square foot 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," said OrangeTee Advisory.

The last launch in November drew "several enquiries and site visits by interested parties", said OrangeTee Advisory's managing director Marcus Oh. 

"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," he added. "We have since observed keen interest in developers to replenish their diminishing land banks and decided to put the development on the market again.”

Mr Oh added that the new development should generate significant interest among prospective home buyers due to the limited pipeline supply of residential housing in District 20, which comprises estates in Ang Mo Kio, Bishan and Thomson.

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