Thomson View Condominium has recently launched a public tender for collective sale at a preset cost of $950 million. This decision was taken after the company secured an 80% mandate from owners within just six months, even after the ongoing Covid-19 related disruptions.
This is possibly the largest collective sale for residential apartments this year, where the asking price comes out to be the land rate per plot ratio of $1293/sq ft. Note that the land rate for the famous Thomson View Condominium includes an additional seven percent gross floor area specifically for private outdoor spaces. It leads to a differential premium of an estimated $296 million targeted for intensification with an upgrading premium of around $324 million that is available with a 99-year lease policy.