HomeLand SalesThomson View Condo Collective Sale, Will It Finally Sell?
Thomson View Condo Collective Sale

Thomson View Condo Collective Sale, Will It Finally Sell?

Thomson View Condominium Up For Collective Sale Again With Lower Reserve Price

Thomson View Condominium is up for collective sale again via public tender, with a lower guide price of S$918 million. 

Its marketing agent, Edmund Tie said authorities have given in principle approval for the redevelopment plans to yield 1,240 residential units based on an average apartment size of 85 square metres (sqm).

The lower reserve price reflects a land rate of S$1,282 per square foot per plot ratio (psf ppr) including an additional 7 per cent bonus gross floor area, and the land betterment charge for the intensification of land use.

It has also factored in a lease upgrading premium to top the lease back up to a fresh 99-year tenure, as the site’s current leasehold of the same term is effective from 1975. 

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.

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

Recent New Condo Launch In Thomson Area

The most recent new condo launch was back in Sep 2018 when Qingjian Realty launched the 1,206-unit Jadescape. The 99-year leasehold condo was launched at an average price of S$1,700 psf with over 300 units sold on launch day. 

Jadescape has thus far recorded 102 resale transactions, all of which are profitable, with the highest profit at S$1.1 million for a 2,099 sqft unit and the highest psf of S$2,286 for a 1,421 sqft unit. 

(Source: The Business Times)

Will Developers Buy Thomson View Condo?

We think that developers will be tempted to tender for this site given that there are no current and upcoming new condo launches in District 20. The recent transacted prices at Jadescape will help to support the future launch prices.

However given the current market sentiments, developers will look to form a consortium of at least two partners to undertake this large development. Further, just three MRT stations away are five new condo launches in the Lentor area, which will play a huge part in the developers’ decision-making process. 

Taking reference from the recent bids for GLS land sites, we expect that developers may be more conservative in their pricing if they were to bid at all. It may fall short of the owners’ expectations

Do you intend to buy or sell your property?

You may be thinking what is the next step for you and if it is worth going through the necessary work to buy or sell your property.

When is the best time to sell and can I sell for a better price than my neighbours? 

What are my options for buying a property and how can I get the best deal?

Here at The Landed Collective, we specialise in residential properties and that means, HDB flats, Condos, Landed Houses and New Developer Sales. 

Before you start anything, speak to us for a complimentary consultation as we will provide you with comprehensive advice, run through the essentials on the property market and answer any questions you may have.