With an offer price at $118.88 million, the Peak Court has been sold through the collective sale. It is a four-storey residential property development right at Thomson Road said, property agent, Edmund Tie & Company (ET & Co), May 11, Friday. Current Peak court has a total of 20 maisonette units sitting on 57,378sf land. The price works out to be $1,558 psf ppr.
The freehold development was acquired by TSRC Novena, a collaboration of Rich Capital and Tuan Sing Holdings, in a 30-70% stake respectively. This acquisition is Rich Capital maiden residential project as they enter new venture into property development. They are known as Infinio Group previously.
William Lien, The CEO to Tuan Sing Holdings said, ” We are glad on how the team slowly realize it’s goal in placing and maintaining the development competitive bidding ambience. The acquisition goes in sync with the Tuan Sing’s vision that is providing healthy homes around central region and a great addition to our property bank.’
The area’s strategic location and its close proximity to business centres and to the world-class medical centres like the Thomson Medical Centre, Novena Square, Health City Novena, United Square and the perfect transport system, paves way to the outstanding redevelopment chances and opportunities.
The site’s strategic location and proximity to lifestyle and premium medical facilities such as Thomson Medical Centre, the future Health City Novena, Novena Square, United Square and the excellent transport connectivity, paves way up various exciting redevelopment opportunities.”
The asking price of the sophisticated development which anchors a maximum of 20 maisonettes runs close to $1,558 psf per plot ratio under the total plot ratio which is 1.4 and 57,378 sq ft. of a land coverage area.
Positioned along the competitive District 1, the area is just a grasp away to Novena MRT station, while, Singapore’s business centre district and Orchard Road Shopping hubs are only just a minutes drive away.
ET & CO reiterated that the area can be converted into a luxurious boutique condo equipped with 106 units.
” We are flattered that most owners are unified during a collective sale hand in hand with 100 percent permission from the owners, told, the chairman of Of Peak’s Court collective sale team, Mr Hamish Macalister.
ET&Co is also sponsoring the en bloc sale of Casa Meyfort, a condominium of 76 units freehold in areas of Meyer Road, matched with tender commencement which is on May 21.