Thomson View up for sale

Thomson View Condominium has been put up for sale with an indicative asking price of between S$595 million and S$635 million, said its marketing agent HSR Investment Sales.

That translates to about S$694 to S$732 per square foot of potential gross floor area for the residential site located along Upper Thomson Road in District 20.

This includes an upgrading premium of about S$130 million to top up the 99-year lease and a differential premium of about S$158 million, said HSR.

The 540,314 square-foot site has a possible net saleable gross floor area of 1.272 million square feet.

Thomson View Condominium has been zoned for residential use with a gross plot ratio of 2.1 with a maximum height of up to 24 storeys.

HSR said a future development can yield about 1,012 units of apartments averaging 1,100 sq ft per unit and 33 strata landed houses averaging 2,500 sq ft.

A brand new development is expected to fetch a minimum of S$1,350 per square foot (psf) to S$1,600 psf.

HSR said higher up Upper Thomson Road, units under construction at Thomson Grand are changing hands at average prices of S$1,350 psf onwards and one unit had achieved a sale price of up to S$1,501 psf.

Currently, Thomson View consists of 200 residential apartments, 54 townhouses and a shop lot.

The site is open for public tender until 3pm on 12 January, 2012.

Source : Channel NewsAsia – 14 Nov 2011

Chateau Eliza up for sale

Chateau Eliza, a prime freehold residential development along Mount Elizabeth off Orchard Road, has been put up for collective sale.

Its marketing agent Knight Frank said the17,997 square-foot property has a price guide of S$111 million to S$115 million.

It added that translates to a land price of S$2,099 per square foot per plot ratio (psf ppr) to S$2,174 psf ppr based on the proposed gross floor area of 52,887 sq ft.

There is no development charge to be paid. And with an additional 10 per cent balcony area, the land price could be lowered to S$2,009 psf ppr to S$2,077 psf ppr, based on the potential GFA of about 58,176 sq ft, the marketing agent said.

Knight Frank estimates the breakeven cost at around S$2,700 per square feet (psf) to S$2,800 psf.

Chateau Eliza is zoned for residential use with a plot ratio of 2.8.

It can be developed into serviced apartments subject to regulatory approval.

The site currently has 37 residential apartments with unit sizes ranging from 828.8 sq ft (77 sq m) to 3,336.8 sq ft (310 sq m).

The tender will close at 3pm on December 15.

Source : Channel NewsAsia – 14 Nov 2011