Thomson View set for en bloc relaunch at unchanged S$950m guide price

May 11, 2022

THOMSON View Condominium is up for collective sale again via public tender, with a guide price of S$950 million, said exclusive marketing agent OrangeTee Advisory on Wednesday (May 11).

The condominium was put up for sale at the same price in November 2021, but the relaunch was unsuccessful amid market cooling measures announced in December.

“Due to the small window of less than 1 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,” said Marcus Oh, managing director at OrangeTee Advisory.

Oh said the last launch attracted several enquiries and site visits by interested parties.

In 2013, the condo was also put up for collective sale for S$590 million but the deal was voided after the former marketing agent was found to have offered incentive payments to 4 owners to get them to sign the sale agreement. Subsequently, the condo failed in 4 attempts to relaunch in 2018.

Comprising 200 apartments, 54 townhouses and a shop unit, Thomson View was completed in 1987 and sits on a site of 50,196.9 sq m.

The site is zoned for residential development with a gross plot ratio of 2.1 under the Master Plan 2019.

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.

A Pre-Application Feasibility Study on the number of units that may be rebuilt on the site has been submitted for the Land Transport Authority’s review and is pending the authority’s approval.

Thomson View is located in District 20 with nearby amenities such as Thomson Plaza, Upper Thomson MRT station and nature parks, including MacRitchie Reservoir Park and Lower Peirce Reservoir Park.

Nearby schools include Ai Tong School, Catholic High School and CHIJ St Nicholas Girls School.

With a limited supply of residential housing in District 20, the development should generate significant interest among prospective home buyers, said Oh.

Its location would also allow developers to “build a distinctive project with high potential for capital appreciation and good rental yields”, he said.

The tender for Thomson View Condominium will close at 3 pm on Jun 8, 2022.