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SINGAPORE: A commercial redevelopment site at Thomson Village has been offered for sale by tender.
Real estate services firm and sole marketing agent CB Richard Ellis (CBRE) said the site, located off Upper Thomson Road, has an approximate area of 13,387 square feet.
It comprises eight strata-titled commercial units and a piece of vacant land, with an asking price of S$24 million.
CBRE said: "Based upon a plot ratio of 2.8, the Development Charge is estimated at about S$5 million. Based upon the asking price, this works out to S$774 per square foot per plot ratio."
The firm said 100 per cent of the owners have signed the Collective Sales Agreement and the sale will not be subject to an application to the Strata Titles Board.
The Thomson area has many popular eateries in an affluent neighbourhood, which provides excellent opportunities to develop a specialty retail mall, said CBRE.
Landmarks nearby include Thomson Plaza, Thomson V and Singapore Island Country Club.
The tender closes on November 25, 3pm.
- CNA/al
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