Tuan Sing successfully bought over Peak Court through an enbloc sale for $118.88m
An exciting joint venture between Tuan Sing Holdings and Rich Capital Holdings had successfully acquired a freehold land parcel, the former Peak Court. The sale was $118.88 million through an en-bloc at the close tender on May 11.
Peak Court is located at 333 Thomson Road in prime District 11. The development was 35-year-old with a total of 20 units in a four-storey block with a land site of 57,378 sq ft. The development is zoned for residential use and comes with a plot ratio of 1.4 according to URA Master Plan 2014, gross floor area of 80,329 sq ft. The purchase price also translate to $1,558 psf per plot ratio (ppr).
The site can be redeveloped into a 106-unit “resort-like” boutique development, according to Edmund Tie & Co, the sole marketing agent for the project.
The rare freehold site is strategically located at the prime district of Singapore that is proximity to the best healthcare and medical facilites, and numerous shopping malls. A few to mention are the future Health City Novena, Thomson Medical Centre, United Square and Novena Square.
The development also 1km proximity to three highly sought-after schools such as Anglo-Chinese School (Primary), CHIJ Primary (Toa Payoh) and St Joseph’s Institution Junior. Potentially will attract many home buyers looking into this area for own-stay.
This land parcel will be developed to a brand new condo which will be known as Peak Residence. For more project info, please visit this official sale website.
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