Land Bid for Thomson Impressions

Land Parcel - Lorong Puntong Condo — Source : URA

A 99-year leasehold residential site at Lorong Puntong of a land size area of 10502.8 square metre (approximately 113,051 square feet) was released by the URA (Urban Redevelopment Authority) for sales on August 2014. This residential site which is sitting in between Lorong Puntong and Sim Ming Avenue has drawn the strong interests of several leading developers such as MCL Land, Frasers Centrepoint, Hoi Hup Realty etc and attracted a total of 18 biddings. Eventually, Nanshan Group Singapore Co. Pte Ltd successfully acquired the land at a top bidding of $173.6 million which amounted to approximately S$731 per square foot per plot ratio (psfppr).

This 99-year leasehold land parcel was by far, the highest numbers of interests collected for GLS (Government Land Sales) ever since the TDSR (Total Debt Service Ratio) kicked in on 29th Jun 2013. Being situated in a matured estate at Thomson with 2 upcoming MRT stations, Bright Hill MRT station and Upper Thomson MRT station (Thomson Line) and having renowned schools such as Ai Tong School being opposite to it suggested the reasons this land parcel could have appealed to the developers. This land parcel is also surrounded by recreational parks such as Ang Mo Kio Bishan Park and Lower Pierce Reservoir. The breakeven price and selling price of this upcoming Lorong Puntong Condo (Thomson Impressions) is believed to be ranging from about $1,200 psf to $1,400 psf.

Source :

http://www.todayonline.com/business/surprise-number-bids-upper-thomson-housing-site https://www.ura.gov.sg/uol/media-room/news/2014/oct/pr14-62.aspx

Interested in this upcoming new launch? Visit our link below now for more info