The en bloc market is showing no signs of slowing, with two more residential developments being put up for collective sale.
Thomson View condominium has an indicative asking price of S$595 million to S$635 million, translating to between S$694 and S$732 per sq ft per plot ratio (psfppr) for the site located along Upper Thomson Road.
The 540,314 sq ft site has a gross plot ratio of 2.1 and gross floor area of about 1.27 million sq ft as well as a 24-storey height limit. The price includes a differential premium of about S$158 million to top up the lease tenure by 34 years to 99 years and an upgrading premium of about S$130 million to enhance the value of the land.
It said a new development could yield 1,012 units of apartments averaging 1,100 sq ft per unit and 33 strata landed houses averaging 2,500 sq ft. The tender closes on Jan 12.
Separately, Chateau Eliza, a freehold development at Mount Elizabeth, has been put up for sale with a guide price of S$111 million to S$115 million. The site is almost 18,000 sq ft in size and has a plot ratio of 2.8, although the current development has a plot ratio of 2.939.
This works to a land price of between S$2,099 to S$2,174 psf ppr based on the proposed gross floor area of 52,887 sq ft. The tender closes on Dec 15.
Source: Today – 15 November 2011
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