Thomson View Condominium relaunches for cumulative sale at $950 mil
Thomson View Condominium, located on Bright Hill Drive off Upper Thomson Road, will be relaunched for collective sale via public tender on May 12 at an overview cost of $950 million.
UOL Group Condo Details The Amo Residences Launch Date
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The development was launched for sale last November at the same price, yet the tender closed on Jan 13 without an effective purchaser. Marcus Oh, taking care of supervisor at OrangeTee Advisory, associates this to possible purchasers holding back their acquisitions complying with the announcement of brand-new residential property cooling down measures last December. OrangeTee is the unique advertising agent for the sale.
Oh believes the moment is now ripe for a fresh collective sale attempt. “We have actually since observed eager interest from designers to restore their decreasing land banks and determined to put the development on the marketplace again,” he says.
Completed in 1987, Thomson View Condominium makes up 200 homes, 54 condominiums and also a store device. It sits on a 540,314 sq ft site which is zoned for domestic use with a gross plot proportion of 2.1.
According to OrangeTee, the get cost works out to a land price of $1,294 psf per story proportion (ppr), factoring in an additional 7% of bonus gross flooring location (GFA) for exclusive outdoor spaces. The land price additionally factors in an approximated differential premium of $288.8 million for accumulation and an upgrading premium of concerning $332.3 million for a fresh 99-year lease.
A pre-application feasibility study on the number of devices that might be re-built on the site has been sent for the Land Transport Authority’s testimonial as well as is pending authorization.
Thomson View Condominium is within strolling distance to Upper Thomson MRT Station on the Thomson-East Coast Line. It is served by nearby shopping centers such as Thomson Plaza as well as Junction 8, along with F&B and retail facilities on Upper Thomson Road.
Oh explains that the site offers scenic views of the Central Catchment Nature Reserve. “We expect a lot of the devices in the redeveloped project to be able to enjoy an unblocked plant sight of MacRitchie Reservoir, Windsor Nature Park, or Peirce Reservoir,” he adds.
The tender for Thomson View Condominium will close at 3pm on June 8.
The growth was launched for sale last November at the same rate, however the tender shut on Jan 13 without an effective purchaser. Marcus Oh, managing director at OrangeTee Advisory, attributes this to prospective purchasers holding back their purchases following the statement of new residential or commercial property cooling down actions last December. OrangeTee is the unique advertising and marketing agent for the sale.