Thomson View, a prestigious private residential estate in Singapore, is up for collective sale once again, with the potential to be developed into a mega residential project. As the exclusive sales agent, ERA Realty Network announced on July 3rd that Thomson View, located near the Upper Thomson MRT station, is officially on the market for collective sale. Interested buyers can submit their expressions of interest to ERA Realty Network by 3 PM on September 6, 2024 (Friday).
Thomson View Garden is situated on elevated terrain, covering an area of approximately 50,197 square meters (541,314 square feet). According to Singapore's 2019 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.1, providing a total gross floor area of 112,792 square meters (about 1.2 million square feet). The current development comprises 255 units, including 54 condominium townhouses and a 29-story building with a shop and 200 apartment units.
Authorities have approved the redevelopment of Thomson View Garden into a mega project with 1,240 residential units, averaging 85 square meters per unit. Additionally, there is no need to conduct a Pre-Application Feasibility Study (PAFS) for this site. The reserve price for this collective sale remains unchanged from the previous round at SGD 918 million. However, due to recent updates to the Development Charge (DC) rates, the price per square foot per plot ratio (psf ppr) is now SGD 1,275, slightly lower than the previous SGD 1,282 psf ppr. This price includes a 7% bonus floor area, a lease upgrade premium for the 99-year leasehold, and DC for intensifying land use.
Ms. Tan Hong Boon, Executive Director of Investment Sales at ERA Realty Network, noted, "New residential developments in prime locations within mature estates are often highly sought after, as evidenced by the success of recent projects such as Lentor Modern, AMO Residence, and JadeScape, all of which have performed well in sales."
The most recent large new private residential project in the area, Lentor Modern, comprising 533 units, sold 400 units (75%) during its launch weekend in March. The project’s average price was about SGD 2,276 psf, with a record high of SGD 2,478 psf. Additionally, JadeScape, another private residential project near Thomson View Garden, had an average price of SGD 2,170 psf over the past three months, reaching a peak of SGD 2,323 psf in June 2024. AMO Residence, which sold over 98% of its 372 units during its launch weekend in July 2022, had an average price of SGD 2,112 psf, setting a record high of SGD 2,443 psf in November 2023.
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Ms. Tan also highlighted that Thomson View Garden’s proximity to the MRT station, schools, numerous retail shops, and restaurants, as well as the lush greenery of the Central Catchment Nature Reserve, which spans over 3,000 hectares, makes it an ideal site for developing a modern condominium project. This project would offer homebuyers the perfect blend of urban convenience and serene natural surroundings.
She added, "Buyers today are more discerning, considering factors beyond just price, such as location. This new project will provide residents and families with an ideal environment where they can enjoy living, entertainment, and education conveniently at their doorstep."
Specifically, Thomson View Garden’s advantages include the following aspects:
1. Comprehensive Amenities: The surrounding area offers a wealth of amenities, making daily life extremely convenient. Thomson Plaza provides a variety of retail, dining, and lifestyle services, while the Upper Thomson Road area boasts numerous restaurants and cafes.
2. Quality Education Resources: The area is home to several renowned schools, such as Ai Tong School, Catholic High School, CHIJ St. Nicholas Girls’ School, Raffles Institution, and Eunoia Junior College, offering excellent choices for families with school-aged children.
3. Rich Recreational Facilities: Nearby recreational options include MacRitchie Reservoir Park, Bishan Park, Lower Pierce Reservoir Park, and the Singapore Island Country Club, making it a great place for families to enjoy quality time together.
4. Convenient Transportation: The estate is close to the Upper Thomson MRT station on the Thomson-East Coast Line, just five stops from Orchard Road and nine stops from the Central Business District. Additionally, it is a short drive from the Central Expressway (CTE) and Lornie Highway, ensuring convenient travel.
