Freehold Peak Court at Thomson Road up for collective sale

20 Mar 2018
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Freehold Peak Court at Thomson Road up for collective sale
Ideal for redevelopment into an upscale boutique condominium

SINGAPORE, 20 March 2018 – Edmund Tie & Company, the sole marketing agent for Peak Court, is pleased to offer the freehold collective sale site for sale by tender. 100 per cent of the owners have consented to the sale. The development was completed in the 1980s and comprises of only 20 maisonette units.

The subject property has a land area of approximately 5,328 square metres (sq m) (approximately 57,350 square feet [sq ft]) and is zoned for residential use at Gross Plot Ratio of 1.4 under the URA Master Plan 2014. The site is ideal for redevelopment into an upscale resort-like boutique condominium project with about 106 units. It also overlooks a two-storey landed enclave, which provides unobstructed panoramic views of the surrounding area.

Peak Court enjoys a strategic central location within District 11 yet is nestled away in a serene part of Thomson Road. With the Novena MRT station a short distance away, the property also enjoys excellent connectivity to other parts of Singapore via major roads and expressways such as the main Thomson Road, Balestier Road and the Pan Island Expressway (PIE).
The CBD and Orchard Road shopping belt is just a short drive away, while prominent educational institutions such as Anglo-Chinese School (Primary), CHIJ Primary (Toa Payoh) and St Joseph’s Institution Junior are located within a kilometre. A wide selection of amenities and lifestyle options are available at the nearby Novena Square, Square 2, United Square, Zhongshan Mall and the vibrant Balestier precinct.

Senior director for investment advisory Tan Chun Ming commented: “The site offers flexibility for developers with the choice of serving young families who look to be close to schools, or expatriates and working adults who wish to be close to the future health hub and CBD. The 100 per cent owners’ consent offers certainty in deal completion timeline.
“Furthermore, if serviced apartment approval is granted, Peak Court presents an excellent opportunity for developers to tap on its proximity to the future Health City Novena and Thomson Medical Centre to cater to medical tourists. They may even explore incorporating services such as postnatal confinement, pre and post treatments, etc.”

The asking price is $106 million, which reflects a land rate of $1,398 per square foot per plot ratio (psf ppr), or $1,342 per sq ft on the maximum potential gross floor area (GFA), including the 10 per cent bonus balcony area. The developer will also have the flexibility to develop the site into a five-storey serviced apartment or a healthcare development, subject to authorities’ approval.

The tender exercise for the site will close on Wednesday, 9 May 2018 at 3pm.

 

ENDS

 

For further information contact:

Tan Chun Ming
Senior Director
Investment Advisory
DID: +65 6393 2360
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media please contact:

Vanessa Lim
Manager
Corporate Communications
DID: +65 6393 2369
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

About Edmund Tie & Company

Edmund Tie & Company (ET&Co) is a full-service, real estate consulting firm with more than 500 skilled professionals in the region. It is headquartered in Singapore and supported by offices in Kuala Lumpur, Malaysia, and Bangkok, Thailand. ET&Co offers a comprehensive suite of agency and professional services including investment advisory, commercial and retail, residential agency, auction and sales, valuation advisory, statutory valuation and property tax advisory, research and consulting, property management, and hospitality management. For more information, please visit www.etcsea.com

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