Upper Thomson Road | Lush Dream Home

Tag Archives: Upper Thomson Road

Firm’s bid for Upper Thomson plot puts others in the shade

Posted on 6 Nov 2009 | Comments Off

Afternoon sun may pose a challenge in designing project, observers say

A COMPANY unknown in local developer circles has placed the top bid for a plum 99-year leasehold condo plot at Upper Thomson Road. Treasure Well Investments bid about $251.3 million. This works out to $533.34 per square foot of potential gross floor area – which was above expectations and the highest unit land price seen at a state land tender this year.

The top bid also surpassed by 21.5 per cent the next highest offer of $438.83 per square foot per plot ratio (psf ppr) placed at yesterday’s tender by a unit of Singapore’s Far East Organization.

There is much speculation about Treasure Wells Investments, with some linking it to top China and Hong Kong developers, including possibly Hong Kong tycoon Li Ka-shing’s Cheung Kong group, which is familiar with the Singapore property market.

The tender attracted just six bids in total – about half the 12 to 15 bids received for each of the other four reserve list sites that were tendered out by the government in the past few months. ‘Possibly, developers are waiting to see how much land government is releasing for its first half 2010 programme before deciding to bid for sites,’ said Knight Frank chairman Tan Tiong Cheng. Continue reading →

Comments Off on Firm’s bid for Upper Thomson plot puts others in the shade

Posted in Developers, Property Market / Real Estate

Tagged Land Sales, Total Wonder Holdings, Treasure Well Investments, Upper Thomson, Upper Thomson Road, URA, Urban Redevelopment Authority

Thomson commercial unit for sale

Posted on 6 Nov 2009 | Comments Off

Space may be used for F&B, entertainment outlets or divided into small units

A FREEHOLD commercial unit at Thomson Imperial Court on Upper Thomson Road has been put up for sale by tender. The unit has a strata floor area of 11,011 square feet and faces the road.

DTZ, which is handling the sale, describes the property as a ‘rarely available large retail space’ in a ‘bank’s sale by tender’ notice. Other units in the area are as small as a few hundred square feet, said the firm’s senior director for investment advisory services, Shaun Poh.

The buyer of the unit can set up an entertainment or food and beverage outlet, he said. Or the space can be segmented into smaller units for lease.

Mr Poh reckons that the unit could attract bids of $8-9 million. This would translate to $727-817 per sq ft.

Smaller units at Thomson Imperial Court have changed hands in the past six months for about $1,200 to $1,300 psf, he said.

The unit up for sale is currently leased to Shop N Save supermarket, which pays rental of about $3.50 psf per month. The tenancy expires in the third quarter of next year.

Thomson Imperial Court is next to Sin Ming Plaza and Thomson Community Club. It is also near Marymount MRT station and has plenty of parking space, DTZ said.

The tender closes on Dec 3.

Source : Business Times – 6 Nov 2009