Results 1 to 2 of 2

Thread: Tan Tong Meng Tower hits en bloc trail

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Tan Tong Meng Tower hits en bloc trail

    Published July 17, 2007

    Tan Tong Meng Tower hits en bloc trail

    Freehold site expected to fetch around $205m

    By UMA SHANKARI


    TAN Tong Meng Tower, a freehold residential site along Thomson Road, is seeking expressions of interest for a collective sale.

    CB Richard Ellis (CBRE), which is marketing the project, expects the site to fetch around $205 million - or $1,449 per square foot per plot ratio (psf ppr), including an estimated development charge of about $240,000.

    The site has a land area of about 50,600 sq ft and a 2.8 plot ratio - giving it a maximum gross floor area of about 141,600 sq ft.

    About 118 apartments averaging 1,200 sq ft each can be built on the site, said Charles Hoon, CBRE's director for investment properties.

    'The collective sale market for prime sites located on the fringe of Orchard Road is very much in demand,' said Mr Hoon. 'The most recent successful collective sale nearby is Lincoln Lodge at Khiang Guan Road, which sold for $1,449 psf ppr in June.

    'Tan Tong Meng Tower is expected to achieve a similar land price, which works out to $205 million.'

    CBRE also expects the nearby sold-out project Sky @ Eleven to give a fillip to the sale of the site.

    At present, the site houses 35 apartment units of the same size. If it fetches $205 million, each owner will walk away with $5.9 million.

    So far, more than 70 per cent of owners have agreed to a collective sale. For the sale to go through, some 80 per cent have to agree.

    The expression of interest exercise will close on Aug 10 at 3 pm.

  2. #2
    Unregistered Guest

    Default Re: Tan Tong Meng Tower hits en bloc trail

    Thomson asking for $1450 psf??? Those people are crazy or dreaming???

Similar Threads

  1. Teo Tong Lim's family office, Roxy-Pacific to acquire Melbourne office tower for A$14
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 08-07-20, 15:50
  2. Holland Tower up for en bloc
    By sleek in forum En Bloc Discussion and News
    Replies: 0
    -: 24-01-11, 20:49
  3. Hawaii Tower Goes En Bloc
    By Patrick Tan in forum En Bloc Discussion and News
    Replies: 1
    -: 08-12-10, 21:36
  4. En bloc hits sour note
    By mr funny in forum En Bloc Discussion and News
    Replies: 0
    -: 06-07-07, 07:05
  5. Tanglin Shopping Centre may hit en bloc trail
    By mr funny in forum En Bloc Discussion and News
    Replies: 0
    -: 04-05-07, 13:53

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •