Tag Archives: Thomson Village

Separate Colliers auction sees 2 shop units, 2 houses and 1 apartment sold

The owners of eight freehold strata-titled commercial units and vacant site at Thomson Village, off Upper Thomson Road, have joined forces to sell their properties through a tender. The properties have a combined site area of 13,387 sq ft and an asking price of $24 million.

Under Master Plan 2008, the site is zoned for commercial use. ‘The plot ratio is not indicated but the site is under a streetblock plan, which means the potential developer will have to follow an envelope control guideline for the area set by Urban Redevelopment Authority. The properties could be redeveloped into a low-rise specialty retail mall,’ said Galven Tan, assistant manager (investment properties) at CB Richard Ellis, which is marketing the site.

‘Depending on the design of a new development, a 2.8 plot ratio could be achieved,’ according to Mr Tan. Plot ratio is the ratio of maximum gross floor area to land area. Assuming this plot ratio, an estimated development charge (DC) of $5 million would be payable to the state. The $24 million price works out to $774 psf per plot ratio inclusive of DC. Continue reading →

A commercial redevelopment site at Thomson Village has been offered for sale by tender.

Real estate services firm and sole marketing agent CB Richard Ellis (CBRE) said the site, located off Upper Thomson Road, has an approximate area of 13,387 square feet.

It comprises eight strata-titled commercial units and a piece of vacant land, with an asking price of S$24 million.

CBRE said: “Based upon a plot ratio of 2.8, the Development Charge is estimated at about S$5 million. Based upon the asking price, this works out to S$774 per square foot per plot ratio.”

The firm said 100 per cent of the owners have signed the Collective Sales Agreement and the sale will not be subject to an application to the Strata Titles Board.

The Thomson area has many popular eateries in an affluent neighbourhood, which provides excellent opportunities to develop a specialty retail mall, said CBRE.

Landmarks nearby include Thomson Plaza, Thomson V and Singapore Island Country Club.

The tender closes on November 25, 3pm.

Source : Channel NewsAsia – 28 Oct 2009