Singapore, 18 February 2025 – ETC (宜迪产业咨询公司) as the sole marketing agent, is pleased to offer for sale a rare freehold land parcel located at Jalan Jamal / Elite Park Avenue, in the highly coveted District 15. The site is available for sale through a tender exercise, which will close on Tuesday, 18 March 2025 at 3pm.
The regular-shaped freehold site spans approximately 3,300.7 sq m (approximately 35,528 sq ft), with dimensions measuring approximately 45 m by 68 m.
Under Master Plan 2019, the site is zoned for “3-storey mixed landed housing”. Currently a vacant site, the land parcel offers the successful buyer the flexibility to develop it into various landed housing configurations – including detached, semi-detached and/or terrace houses.
The asking price for the land parcel is S$38 million, which works out to a land rate of approximately $1,070 per sq ft.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of ETC, says, “Freehold land parcels of this scale in the coveted District 15 are rarely available for sale. What makes this site even more appealing is that it is a vacant plot of regular shape, offering developers a true blank canvas to create a bespoke landed housing project – without the constraints of existing structures or the need for demolition – in one of Singapore’s most desirable residential districts.”
Ms Swee adds, “Given the strong performance and steady capital appreciation of landed properties in District 15, we anticipate strong interest from developers looking to capitalise on this rare opportunity.”
Statistics from the Urban Redevelopment Authority’s Real Estate Information System indicate that property prices of landed homes in District 15 have recorded a compounded annual growth rate (CAGR) of 5.2% from 2015 to 2024. This surpasses the 4.3% CAGR observed for landed homes islandwide, highlighting this district’s resilience and strong growth potential.
Nestled within a sought-after landed housing enclave, the site offers an ideal blend of exclusivity, tranquility, and convenience. Just 180 meters from East Coast Road, future residents will enjoy easy access to a wide range of dining, retail, and lifestyle options, including popular malls such as Parkway Parade, Siglap V, i12 Katong, and East Coast Park.
The site also boasts excellent accessibility to other parts of the island. Siglap MRT Station on the Thomson-East Coast Line is a short walk away, while several public buses ply along East Coast Road. The East-Coast Parkway (ECP) expressway nearby provides seamless connectivity to other expressways including Marina Coastal Expressway (MCE), Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE), and Ayer Rajah Expressway (AYE).
Nearby reputable educational institutions include Tao Nan Primary School, St Stephen’s School, CHIJ Katong (Primary), Tanjong Katong Primary School, Dunman High School, Chung Cheng High School, Victoria Junior College, among others..
END
Singapore, 11 February 2025 – ETC (宜迪产业咨询公司) is relaunching the collective sale of United House, a rarely available prime freehold redevelopment site in Orchard Road. As the sole marketing agent, ETC invites all interested parties – local and foreign investors alike – to explore this exceptional opportunity.
The tender for United House will close on 9 April 2025 at 3.00pm.
Located within the bustling Orchard Road Shopping Belt, United House sits on a rectangular freehold plot of approximately 1,192.7 sq m. Under Master Plan 2019, the site is zoned ‘Commercial’ use with a plot ratio of 4.9 and a building height of up to 10 storeys.
The property has also obtained in-principle approval by the Urban Redevelopment Authority for ‘Hotel’ use with the same gross plot ratio of 4.9.
Furthermore, as United House falls outside of the areas where new strata subdivision of commercial space is restricted, the successful buyer has the flexibility to consider strata subdivision for the new development.
Transactions of strata office units in the Central district have gained momentum since 2023, reflected by the strong performance of Solitaire on Cecil which was fully sold after its launch and the sale of two office floors at Tong Building in Orchard Road that achieved a record price of close to S$5,000 per sq ft.
At a reserve price of S$166 million, this works out to a land rate of S$3,025 per sq ft per plot ratio for commercial redevelopment. For hotel redevelopment, the land rate will be S$3,318 per sq ft per plot ratio.
As a commercial property, there is no Additional Buyer’s Stamp Duty payable and restriction on foreign ownership.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of ETC, says, “Freehold Orchard Road assets are scarce and tightly held by owners, given the area’s prestige as Singapore’s most coveted retail and lifestyle destination, making such opportunities highly sought-after for their enduring investment value. United House, therefore, offers a rare and exceptional opportunity for investors to acquire a commercial real estate – what’s more, at an affordable quantum – in the heart of the city’s prime shopping district.”
“With the added option strata subdivision, an astute investor can maximise the gross floor area and explore a strata sale of the new development. Alternatively, they can retain the invaluable freehold asset for capital appreciation, use it as a corporate office, or redevelop it into a hotel, office or commercial space. The multitude of possibilities makes this site a compelling opportunity for buyers seeking a value investment in Orchard Road,” continues Ms Swee.
In 2019, the government announced plans to revitalise the Orchard Road district by transforming the main shopping street into a “lifestyle destination”, where it will offer different themed lifestyle experiences and develop an urban green corridor which will reinvigorate pedestrian spaces. This ongoing initiative aims to enhance pedestrian connectivity among the four sub-precincts encompassing Tanglin, Orchard, Somerset and Dhoby Ghaut.
Ms Swee adds, “With several major redevelopment projects already underway in the prime retail belt, United House stands to benefit from this transformation which is set to draw more visitors and retail spending. Its prime city-centre location in a vibrant enclave with proximity to MRT stations also makes it an attractive prospect hotel development.”
United House boasts unparalleled exclusivity and convenience, with both Dhoby Ghaut MRT Interchange and Somerset MRT station within short walking distance. The subject property is surrounded by different lifestyle options and a diverse array of amenities, offering the best of convenience and entertainment experience.
END
Singapore, 25 November 2024 –Edmund Tie & Company (“EDMUND TIE”), as the sole marketing agent, is pleased to announce the collective sale of Thomson View Condominium to a consortium (“Consortium”) comprising UOL Group (“UOL”), Singapore Land (“SingLand”) and CapitaLand Development (“CLD”) at S$810 million, subject to terms and conditions.
The sale price of S$810 million works out to S$1,178 per sq ft per plot ratio (psf ppr), after factoring in land betterment charges for intensification of land use and lease upgrading premium for a fresh 99-year lease.
Residential owners of the 255-unit development stand to receive gross sale proceeds of about S$2.22 million to S$4.94 million depending on their unit size and the sole commercial unit will receive about S$3.87 million from the collective sale.
Completed in 1987, Thomson View Condominium sits on sprawling grounds of approximately 5 hectares with a 99-year tenure commencing from 1975. Under Master Plan 2019, the site is zoned for ‘Residential’ use at a plot ratio of 2.1, which can yield up to 1,240 residential units based on an average dwelling size of 85 sq m.
The deal for Thomson View Condominium marks the first and only residential collective sale done to date this year. Given its potential for 1,240 dwelling units in the new development, the collective sale of Thomson View Condominium also marks one of the largest residential sites in terms of project scale in recent years.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Over about the past 17 years, owners of Thomson View Condominium have persevered through four earlier collective sale attempts. In its current fifth attempt, Edmund Tie & Company is appointed for the first time as its exclusive marketing agent, and we are thrilled to have successfully secured a buyer. The realignment of the reserve price hits a sweet spot between pricing and the complexities of redeveloping a site of this scale – reigniting developers’ interest, ultimately culminating in this milestone achievement.”
Ms Swee adds, “We are deeply grateful for the unwavering support and trust of the collective sale committee, and to be working alongside the team of lawyers led by Mr Alan Tan from Wee Swee Teow LLP. Most importantly, the success of this endeavour was only made possible by the owners of the 255-unit development, who demonstrated remarkable unity to giving the requisite 80% consent in both strata area and share value within such a short timeframe.”
Thomson View Condominium enjoys strong locational and site attributes including MRT at doorstep, proximity to essential amenities and top-ranked schools, as well as spectacular views of lush greenery. An abundance of retail, dining and lifestyle offerings are readily available at Thomson Plaza and the numerous shophouses lined along Upper Thomson Road. The Upper Thomson MRT station on Thomson-East Coast Line provides quick access to Orchard Road and Central Business District which are only 5 and 9 stops away, respectively.
Families with school-going children would appreciate that the popular Ai Tong School is located within a 1-km radius from Thomson View, with other educational institutions nearby, including Catholic High School, CHIJ St Nicholas Girls School, Raffles Institution and Eunoia Junior College.
The collective sale of Thomson View Condominium is subject to an order of sale granted by the Strata Titles Boards.
END
Singapore, 18 October 2024 – Edmund Tie & Company (EDMUND TIE) is relaunching the collective sale of Thomson View Condominium, with the tender closing on 25 October 2024, 3pm.
Under Master Plan 2019, the site is zoned for residential use at a plot ratio of 2.1, which can yield a total gross floor area of about 112,792 sq m or 1,240 residential units based on an average apartment size of 85 sq m. Pre-application feasibility study (PAFS) for the site is not required.
The reserve price for Thomson View Condominium stands at S$918 million under the Collective Sale Agreement. Meanwhile, owners have commenced signing a Supplemental Agreement to the Collective Sale Agreement (“Supplemental Agreement”) to lower the reserve price to S$808 million.
Over a span of about 2 weeks, approximately 65% of the owners have given their consent to revise the reserve price to S$808 million.
The new proposed reserve price of S$808 million will take effect only after owners holding at least 80% of the strata area and share value have signed the Supplemental Agreement.
At S$808 million, the land rate would translate to approximately S$1,176 per sq ft per plot ratio, after factoring in both the land betterment charge for the intensification of land use and the lease upgrading premium to extend the lease to a fresh 99-year tenure. Including an 8% bonus floor area, the land rate will then work out to S$1,141 per sq ft per plot ratio.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “We have seen renewed interest from developers and in the past couple weeks, we have conducted site viewings and discussions with several interested parties. The proposed realignment of the reserve price sets the stage for a compelling win-win opportunity that not only appeals to developers but also allows the owners to cash out an attractive enbloc premium.”
Swee adds, “Thomson View Condominium ticks all the boxes in what discerning home buyers and investors would be looking for – convenience of a MRT station and essential amenities at its doorstep, top-ranked schools in the neighbourhood, and panoramic unobstructed views of lush greenery. New residential projects that possess a combination of these salient selling highlights have proven to perform well at their project launches.”
Thomson View Condominium is unparalleled in its access to a wide suite of amenities. An abundance of retail, dining and lifestyle offerings are readily available at Thomson Plaza and the numerous shophouses lined along Upper Thomson Road. The Upper Thomson MRT station on Thomson-East Coast Line provides quick access to Orchard Road and Central Business District which are only 5 and 9 stops away, respectively.
Families with school-going children would appreciate that the popular Ai Tong School is located within a 1-km radius from Thomson View Condominium, with other educational institutions nearby, including Catholic High School, CHIJ St Nicholas Girls School, Raffles Institution and Eunoia Junior College.
END
Singapore, 11 October 2024 – EDMUND TIE, as the exclusive marketing agent, is launching for sale a portfolio of strata offices in Manhattan House located at 151 Chin Swee Road. The sale will be conducted by way of an expression of interest exercise; interested parties are invited to submit their offers by 12 November 2024 at 3pm.
The portfolio comprises 33 office units on the same floor with a total strata area of 1,816 sq m (approximately 19,547 sq ft), with unit size ranging from 323 sq ft to 850 sq ft.
Manhattan House is a 16-storey commercial building strategically located at the intersection of the Central Business District, Chinatown Historic District and Tiong Bahru neighbourhood, as well as within short walking distance to four MRT lines via two MRT interchanges – Chinatown and Outram Park. Manhattan House is also located adjacent to Pearl’s Hill City Park, which offers lush greenery and a tranquil setting. It is a short walk away to various lifestyle amenities such as eateries, food centres, department stores and other retail provisions within the matured Chinatown precinct.
The guide price for the portfolio is S$24.5 million, which works out to approximately S$1,250 per sq ft on the strata area. Interested parties have the flexibility to purchase individual units or acquire the entire portfolio. As commercial units, there is no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable and no restriction on foreign ownership.
Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Given URA’s announcement in 2022 on the restriction of strata subdivision of commercial developments, the pool of strata commercial units in the Central area has been limited. This portfolio presents a rare opportunity for investors to acquire prime strata commercial units that are well-located within close proximity to the CBD.
The units are ideal for end-users seeking to streamline operations or optimise space by consolidating into one central location for enhanced operational efficiency, as well as investors looking to capitalise on the limited supply of strata offices, with a mid-term view on potential capital upside from a collective sale. Given that the units are mostly tenanted, the incoming purchaser will also enjoy immediate rental cashflow.”
She adds, “With plans by the authorities underway to enhance Pearl’s Hill as an inclusive and community-centric neighbourhood, many more amenities will be offered to cater to diverse needs. In time to come, there will be a network of street-level and elevated connections which allows convenient access to key transport and amenity nodes.”
END
Singapore, 9 October 2024 – The collective sale of Thomson View Condominium has entered into private treaty negotiation, after its second tender closed on 6 September 2024 without any bids meeting its reserve price of S$918 million. The ten-week private treaty period will expire on 14 November 2024. Edmund Tie & Company is the sole marketing agent for the collective sale of Thomson View Condominium.
The owners recently convened to consider a revision of reserve price from S$918 million to S$808 million. In just over a week, approximately 60% of owners have signed the Supplemental Agreement, giving consent for the proposed revision.
Currently, the reserve price remains unchanged at S$918 million. The new proposed reserve price of S$808 million will take effect only after owners holding at least 80% of the strata area and share value have signed the Supplemental Agreement.
At S$808 million, the land rate would now translate to approximately S$1,176 per sq ft per plot ratio, after factoring in both the land betterment charge for the intensification of land use and the lease upgrading premium to extend the lease to a fresh 99-year tenure. Including an 8% bonus floor area, the land rate will then work out to S$1,141 per sq ft per plot ratio.
Under the Master Plan 2019, the 50,197-sq-m (540,314-sq-ft) site is zoned for “Residential” use with a plot ratio of 2.1. The maximum allowable gross floor area works out to 112,792 sq m (approximately 1.2 million sq ft). Based on an average apartment size of 85 sq m, the proposed redevelopment can build up to 1,240 new residential units. A pre-application feasibility study (PAFS) for the site is also not required.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “We believe that lowering the reserve price is a significant step toward creating the meeting of minds between developers and the owners of Thomson View Condominium. The proposed revised reserve price aims to achieve a compelling win-win opportunity that not only appeal to developers, but also allows the owners to cash out at an attractive enbloc premium.”
“Furthermore, the absence of new private housing projects in the neighbourhood provides developers with an opportunity to tap into demand from a sizeable pool of potential buyers. The locational and site attributes of Thomson View Condominium are unrivalled, which offers a rare opportunity for developers to develop an iconic project in a mature residential estate that is well-served by various amenities, including an unobstructed lush greenery view of the Central Catchment Nature Reserve,” continues Ms Swee.
Located right next to Upper Thomson View MRT station on the Thomson-East Coast Line, Thomson View Condominium enjoys the convenience of access to a plethora of nearby amenities – including Thomson Plaza, with more eateries and cafes located at the shophouses along Upper Thomson Road.
Within proximity are popular schools such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls School, Raffles Institution and Eunoia Junior College, which will be a draw to families with school-going children. Families may fully utilise the recreational and leisure facilities at MacRitchie Reservoir Park, Bishan Park, Lower Pierce Reservoir Park and the Singapore Island Country Club.
END
Singapore, 2 October 2024 – Edmund Tie & Company (EDMUND TIE), the exclusive marketing agent for the collective sale of United House, is pleased to offer for sale a prime freehold commercial redevelopment site located in Orchard Road – Singapore’s most iconic shopping, entertainment and lifestyle district.
United House sits on a rectangular freehold land plot of approximately 1,192.7 sq m. It enjoys a 51-metre frontage along Kramat Lane and a depth of approximately 23 metres. Under the Master Plan 2019, the property is zoned for ‘Commercial’ use with a plot ratio of 4.9.
The site can be redeveloped into a modern 10-storey commercial building with a gross floor area of up to 62,900 sq ft, complete with exclusive naming rights that is a rare opportunity in prime Orchard Road.
As United House falls outside of the areas where new strata subdivision of commercial space is restricted, the successful buyer has the flexibility to consider strata subdivision for the new development. Transactions of strata office units in Orchard Road have been active and a benchmark price of S$4,988 per sq ft has just been recorded last month in September for the sale of two office floors at Tong Building – underscoring the appeal of freehold commercial properties in prime Orchard Road.
Additionally, given its prime location in Orchard Road popular with tourists, the property is ideal for redevelopment into a hotel. Planning application for “Hotel” use with a plot ratio of 4.9 has already been submitted and is currently pending approval from the Urban Redevelopment Authority.
For the first time, United House has achieved the 80% owners’ consent in both strata area and share value, following three earlier collective sale attempts that did not manage to reach this stage. Consequently, this marks a significant milestone that the site is now officially available for sale.
At a reserve price of S$166 million, this works out to a land rate of S$3,025 per sq ft per plot ratio for commercial redevelopment. For hotel redevelopment, subject to planning approval, the land rate will be S$3,318 per sq ft per plot ratio.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of EDMUND TIE, says, “United House’s launch comes at a pivotal time, as Orchard Road is undergoing exciting transformation into a thriving lifestyle destination. The ongoing enhancements to Orchard Road, coupled with United House’s redevelopment potential, are highly likely to result in significant capital appreciation in time to come. The successful buyer will, therefore, benefit from this rare opportunity to capitalise on Orchard Road’s future growth, which will continue to attract both local and international interest.”
Construction works is in progress for Faber House which will be redeveloped into 250-key hotel and a major revamp of The Cathay is expected to complete by end of this year. Other potential major redevelopment or asset enhancement projects underway include Tanglin Shopping Centre, Ming Arcade, Delfi Orchard, Stamford Court and Wilmer House.
Also in the pipeline is Hotel Properties Limited tapping into the Strategic Development Incentive (SDI) scheme to redevelop Voco Orchard Singapore, Forum The Shopping Mall and HPL House into a mixed-use project.
Ms Swee adds, “Investors can also consider seeking bonus plot ratio under the SDI scheme by redeveloping United House and its neighbour(s) together, subject to planning approval.”
United House boasts a prime location in the vibrant Orchard Road/Dhoby Ghaut precinct and is within a short walking distance to both Dhoby Ghaut MRT interchange and Somerset MRT station. Key landmarks – such as The Istana, Singapore Management University, Plaza Singapura, Paragon, Ngee Ann City, ION Orchard, Mount Elizabeth Hospital, Singapore Art Museum and the National Museum of Singapore – are all easily accessible on foot, further enhancing its appeal to investors seeking excellent connectivity and proximity to amenities.
The tender for United House will close on 14 November 2024 at 3.00pm.
END
Singapore, 3 July 2024 – Edmund Tie & Company (EDMUND TIE) is relaunching for collective sale, Thomson View Condominium, a prime residential site conveniently located right next to Upper Thomson MRT station.
As the exclusive marketing agent, EDMUND TIE invites all interested parties to submit their offer by 6 September 2024, 3pm.
Thomson View Condominium sits on an elevated site of approximately 50,197 sq m (540,314 sq ft). Under Master Plan 2019, the site is zoned for ‘Residential’ use at a plot ratio of 2.1, which can yield a total gross floor area of 112,792 sq m (approximately 1.2 million sq ft).
The development currently accommodates a total of 255 units – comprising 54 townhouses and a 29-storey block housing a shop unit and 200 apartments.
The authorities have advised in-principle no objection to the proposed redevelopment of Thomson View Condominium to 1,240 residential units, based on an average apartment size of 85 sq m. A pre-application feasibility study (PAFS) for the site is also not required.
The reserve price for Thomson View Condominium remains unchanged at S$918 million. This reflects a land rate of S$1,275 per sq ft per plot ratio1, after the inclusion of the 7% bonus gross floor area, the lease upgrading premium to extend the lease to a fresh 99-year tenure and the land betterment charge for the intensification of land use.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “New residential developments in mature housing enclaves are highly sought-after due to their strong locational attributes, as evidenced by successful project launches in the area such as Lentor Mansion, AMO Residences and Jadescape.
Thomson View Condominium presents developers with an exceptional opportunity to build a modern condominium project that will offer discerning homebuyers the best in urban convenience and nature’s tranquility – MRT connectivity, schools, retail shops and eateries, and breathtaking vistas of lush greenery from the sprawling 3,000-hectare Central Catchment Nature Park.
She adds, “These days, buyers are becoming more targeted in their choices and they look at many other factors beyond pricing, such as location. The new project will be able to provide the ideal setting for urban dwellers and families to enjoy ready access to amenities – live, play, learn, right at the doorstep.”
The last major residential project launched in the vicinity was Lentor Mansion, where 400 units or 75% of its 533 units were sold on its launch weekend in March. The project recorded an average price of approximately S$2,276 per sq ft, with the highest recorded at S$2,478 per sq ft. The nearby Jadescape has registered an average price of S$2,170 per sq ft in the last three months, with the highest recorded at S$2,323 per sq ft in June 2024. AMO Residences, which witnessed a strong take-up rate of over 98% of all its 372 units on its launch weekend, recorded an average price of approximately S$2,112 per sq ft in July 2022, with the highest recorded at S$2,443 per sq ft in November 2023.
Thomson View Condominium is surrounded by aplenty of amenities that provides unparalleled convenience. The array of retail, dining and lifestyle offerings are readily available at Thomson Plaza, with more eateries and cafes located at the shophouses along Upper Thomson Road.
Within proximity are top-ranked schools such as Ai Tong School, Catholic High School, CHIJ St Nicholas Girls School, Raffles Institution and Eunoia Junior College, that will benefit families with school-going children. In addition, families may fully utilise the recreational and leisure facilities at MacRitchie Reservoir Park, Bishan Park, Lower Pierce Reservoir Park and the Singapore Island Country Club.
The subject property enjoys excellent connectivity to the rest of Singapore via public and private transportation. The Upper Thomson MRT station on the Thomson-East Coast Line provides quick access to Orchard Road and Central Business District, which are only 5 and 9 stops away, respectively. The Central Expressway (CTE) and Lornie Highway are also a short drive away.
[1] The lowered land rate in this relaunch is due to the recent update in land betterment rates.
END
Singapore, 26 March 2024 – EDMUND TIE, as the exclusive marketing agent, is relaunching for sale a five-storey light industrial building located at 543 Yishun Industrial Park A. The sale will be by way of an expression of interest exercise; interested parties are invited to submit their interest by 24 April 2024 at 3pm.
543 Yishun Industrial Park A has a site area of 7,521.6 sq m (approximately 80,962 sq ft), with a balance lease term of around 30 years. It has an existing gross floor area (GFA) of 9,885.8 sq m (approximately 106,410 sq ft), spread across warehouse space on Levels 1 and 5, cleanrooms on Levels 1 and 3, and ancillary office space on all levels.
According to URA Master Plan 2019, the site is zoned for ‘Business 1’ use with a plot ratio of 2.5. This translates to a maximum allowable GFA of 18,804.0 sq m (approximately 202,405 sq ft), allowing the successful buyer to tap on the unutilised GFA for future expansion.
543 Yishun Industrial Park A will be sold on an as-is-where-is condition without tenancy. The indicative guide price for the property is S$15 million, reflecting approximately S$141 per sq ft on the existing GFA.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “It is increasingly difficult to come across industrial properties equipped with pre-existing cleanrooms in today’s market. The subject property boasts of two well-maintained cleanrooms, making it an ideal fit for companies operating in manufacturing, electronics, optics, pharmaceutical and precision engineering. More importantly, these cleanrooms of approximately 3,500 sq m in total area can help business owners defray some costs associated with setting up such new facilities from scratch.”
“Alternatively, companies in other industries can repurpose the space for different uses, by exploring alterations and additions (A&A) works to adapt the cleanrooms for their specific needs, subject to authorities’ approval,” adds Ms Swee.
Located within an established industrial park area that is surrounded by housing estates, 543 Yishun Industrial Park A has prominent dual road frontages along Yishun Industrial Park A and Yishun Avenue 8. It is within a short drive to Canberra and Yishun MRT stations and enjoys convenient access to amenities at nearby markets, food centres and shopping malls. Access to other parts of Singapore can be via major arterial roads and expressways including Yishun Avenue 2, Seletar Expressway (SLE) and Tampines Expressway (TPE).
END
Singapore, 27 February 2024 – Edmund Tie & Company (EDMUND TIE) is pleased to be appointed as the exclusive marketing agent for the collective sale of Thomson View Condominium, a prime residential site strategically located right next to Upper Thomson MRT station.
Interested parties are invited to submit their offer to EDMUND TIE by 18 April 2024, 3pm.
Completed in 1987, Thomson View Condominium sits on sprawling grounds of approximately 50,197 sq m (540,314 sq ft) in land area with a 99-year tenure with effect from 1975. The development accommodates a total of 255 units – comprising 54 townhouses and a 29-storey block housing a shop unit and 200 apartments.
Under Master Plan 2019, the site is zoned for ‘Residential’ use at a plot ratio of 2.1, which can yield a total gross floor area of about 112,792 sq m.
The authorities have advised in-principle no objection to the proposed redevelopment of Thomson View Condominium to 1,240 residential units, based on an average apartment size of 85 sq m. Additionally, pre-application feasibility study (PAFS) for the site is not required.
Sitting on the elevated site surrounded by low-rise landed housing enclave, the new development will enjoy sweeping views of lush greenery over the expansive Central Catchment Nature Park covering some 3,000 hectares, as well as access to a wide suite of amenities and popular schools.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Thomson View Condominium ticks all the boxes in what discerning home buyers and investors would be looking for – convenience of a MRT station and essential amenities at its doorstep, top-ranked schools in the neighbourhood, and not forgetting, panoramic unobstructed views of lush greenery. New residential projects that possess a combination of these salient selling highlights have proven to perform well at their project launches.”
The last major private residential project launched in the location is AMO Residences, which witnessed a strong take-up rate of over 98% of all its 372 units on its launch weekend. The project recorded an average price of approximately S$2,111 per sq ft in July 2022, with the highest recorded at S$2,443 per sq ft in November 2023.
The nearby Jadescape has registered an average price of S$2,150 per sq ft in the last 3 months, with the highest recorded at S$2,286 psf in December 2023. Islandwide, one of the most recent residential launches was J’den in November 2023, which witnessed an 88% take-up rate of its 368 units, sold at an average of S$2,451 per sq ft and the highest recorded at S$2,824 per sq ft.
The reserve price for Thomson View Condominium is S$918 million, reflecting a land rate of S$1,282 per sq ft per plot ratio. The land rate has factored in the additional 7% bonus gross floor area, as well as the lease upgrading premium to top the lease back up to a fresh 99-year tenure and the land betterment charge for the intensification of land use.
Thomson View Condominium is unparalleled in its access to a wide suite of amenities. An abundance of retail, dining and lifestyle offerings are readily available at Thomson Plaza and the numerous shophouses lined along Upper Thomson Road.
Families with school-going children would appreciate that the popular Ai Tong School is located within a 1-km radius from Thomson View, with other educational institutions nearby, including Catholic High School, CHIJ St Nicholas Girls School, Raffles Institution and Eunoia Junior College.
Recreational and leisure facilities are also abundant in the vicinity. The Upper Thomson MRT station on the Thomson-East Coast Line provides quick access to Orchard Road and Central Business District, which are only 5 and 9 stops away, respectively. A stone’s throw away are recreational and leisure facilities at MacRitchie Reservoir Park, Bishan Park, Lower Pierce Reservoir Park and the Singapore Island Country Club.
END