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.
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Singapore, 21 February 2024 – Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is relaunching for sale via tender Crystal Court and an adjoining plot of private land along River Valley Road.
Interested parties are invited to submit separate tender bids for each site by 9 April 2024 at 3pm.
Identifiable by its post-modernism architecture, Crystal Court is a five-storey mixed-use development that sits on a 1,554.2-sq-m freehold site and benefits from a dual frontage along River Valley Road and Nathan Road. The development comprises a basement carpark, a commercial unit on the ground floor and 16 apartment units ranging from 103 sq m to 245 sq m on the upper floors.
The adjoining land plot, which sits between Crystal Court and River Valley Road, has a site area of 377.0 sq m. It is currently used as a private service road with surface car parking lots.
Under URA’s Master Plan 2019, both land plots are zoned for “Commercial & Residential”.
The guide price for Crystal Court is S$115 million, reflecting S$2,456 per sq ft per plot ratio.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “Crystal Court is one the rare few unique buildings in Singapore designed by the late Australian architect, Geoffrey T. Malone. The building features a captivating post-modernist design, characterised by a playful blend of different architectural elements and geometries.”
For instance, Crystal Court’s design embraces contrasts between opacity and transparency, as well as curvilinear and rectilinear forms. Meanwhile, the commercial unit is distinguished by its lofty high ceiling and expansive glass panels, thoughtfully designed to showcase its original tenant, a lighting retailer; the space becomes particularly enchanting at night when illuminated with its sparkling allure.
“This inspiring property, hence, presents an exciting opportunity for innovative developers to repurpose the existing building for alternative uses such as serviced residences, co-living residences, a hotel or even a postpartum care centre that is gaining popularity, subject to final approval,” continues Ms Swee.
Alternatively, the two plots can be amalgamated to redevelop into a five-storey boutique mixed-use development featuring a total gross floor area of 5,407 sq m, reflecting a gross plot ratio 2.8.
Ms Swee adds, “Freehold mixed-use sites in prime District 10 are scarce, making this a highly coveted investment opportunity; what’s more, Crystal Court has an affordable investment threshold.”
Nestled within an upscale residential neighborhood, the subject properties are well-served by an abundance of retail and dining options, as well as lifestyle and entertainment offerings. Within proximity are popular malls including Valley Point, Great World City, Tiong Bahru Plaza, and cafes, eateries and lifestyle stores lined along River Valley Road. A stone throw away are several vibrant lifestyle destinations at Robertson Quay, Dempsey Hill and Tiong Bahru. The prime Orchard Road retail and entertainment belt, as well as the Central Business District, are a short ten-minute drive away.
The subject properties enjoy excellent connectivity to the rest of Singapore via Central Expressway (CTE), and major arterial roads such as River Valley Road, Paterson Hill, Lower Delta Road and Zion Road. The Great World MRT station on the Thomson-East Coast Line (TEL) is also a short walk away.
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Singapore, 16 January 2024 – EDMUND TIE, as the exclusive marketing agent, is putting up for sale three freehold strata food factory units located within Food Concept @ Pandan, a 10-storey ramp-up multi-user industrial building comprising 38 units.
The sale will be by way of an expression of interest exercise; interested parties are invited to submit their interest to EDMUND TIE by 27 February 2024 at 3pm.
The three units are located on the top floor and have unit area of 177 sq m, 188 sq m and 190 sq m. Each unit enjoys the convenience of a loading/unloading bay located at the doorstep and they are one of the few units in the development that boast of a lofty floor-to-floor height of 7 m1 , both of which are not part of the strata area.
The regular layout of each unit provides ease-of-use flexibility to accommodate various food-related businesses such as central kitchen, food processing, food packing, cold room, cold storage and food catering.
Currently, two of the three units are leased, offering the successful buyer the advantage of immediate rental income. A considerable capital expenditure of approximately S$200,000 to S$400,000 has been invested in each of these two units. The third unit is offered on a vacant possession basis.
The indicative guide price for all three units is S$11 million, reflecting an average of $1,841 per sq ft. To be purchased either individually or collectively, the three units are eligible for purchase by local and foreign investors alike and are exempted from Additional Buyer’s Stamp Duty.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “In light of the scarcity of designated areas permitted for food factory usage, the subject property presents a rare opportunity to investors or business owners to secure such space. Furthermore, the freehold tenure is a major plus point, distinguishing it from a significant portion of such similar spaces in Singapore that are typically leasehold or subject to JTC’s jurisdiction.”
She adds, “Demand for food factory spaces is expected to be robust, fuelled by the growing prevalence of central and cloud kitchens. This is due to the continued popularity of food delivery services and e-commerce, streamlined operations by F&B operators to deal with labour crunch among other costs, as well as the government’s push for greater productivity and innovation in Singapore’s food industry as mapped out in the Food Services Industry Transformation Map.”
“What’s more, transactions of strata food factory units at Citrine Foodland in Tai Seng and Foodfab@Mandai have already surpassed S$1,900 and S$2,000 per sq ft, respectively. We are optimistic that the subject property will greatly appeal to astute investors seeking a resilient and burgeoning asset class. Not forgetting, developers are also exhibiting confidence in this sector, evident from the highly competitive tender results for 50 Playfair Road, a recent collective sale successfully transacted by EDMUND TIE, where the purchaser intends to develop the site into a food factory,” says Ms Swee.
Located on a prominent corner plot within the established Pandan Food Zone, Food Concept @ Pandan benefits from proximity access to businesses and facilities along the food supply chain, as well as a labour catchment from the residential neighbourhoods in Clementi and West Coast vicinities. The property is also well-served by major roads and expressways, including the West Coast Highway and Ayer Rajah Expressway.
1 Ground-floor and top-floor units in the development have floor-to-floor height of 7 m, and other units at 4.725 m.
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