UOL and CapitaLand acquire Thomson View for $810m

Thomson View sits on a land area spanning 540,314 square feet.

UOL and CapitaLand Singapore Limited, through their subsidiaries, have agreed to buy Thomson View Condominium for $810m.

The respective subsidiaries are United Venture Development (No. 8) (UVD No. 8) and CL Onyx.

UVD No. 8 is 80% owned by UOL’s subsidiary, UOL Venture Investments.  

SingLand Residential Development, a subsidiary of Singapore Land Group Limited, owns the remaining stake in UVD No.8.

As per the agreement, UOL and CapitaLand are required to pay 5% of the $810m, which includes the $1m option deposit made during the execution of the option agreement, within seven business days following the exercise of either the call option or the put option.

Meanwhile, payment of 5% of the consideration is due within seven business days of receiving the Sale Approval notice, with the final 90% payable upon legal completion.

Thomson View sits on a land area spanning 540,314 square feet. It has a gross plot ratio of 2.1 and a 99-year leasehold which commenced on 7 April 1975.