UOL-CapitaLand consortium acquires Thomson View Condominium for $810m

The consortium made the sole bid for the property’s third tender.

Thomson View Condominium has been sold for $810m to a consortium comprising UOL, SingLand, and CapitaLand Development (CLD).

The consortium submitted the sole bid during the property’s third tender in October, following two earlier tenders launched in February and July. The sale price of $810m translates to $1,178 per sq ft per plot ratio (psf ppr).

Thomson View Condominium was initially priced at $918m, which was subsequently lowered to $808m following the fulfillment of a put-and-call option agreement securing the consent of at least 80% of the owners by strata area and share value.

Residential owners of the 255-unit development stand to receive gross sale proceeds of about $2.22m to $4.94m depending on their unit size, and the sole commercial unit will receive about $3.87m from the collective sale.

Zoned “Residential”, the property spans approximately 5 hectares and has a potential yield of up to 1,240 residential units. It is located near MRT stations, schools, retail shops, eateries, and lifestyle amenities such as MacRitchie Reservoir Park, Bishan Park, and the Singapore Island Country Club.