UOL Group and CapitaLand Set to Acquire Thomson View Condo for S$810 Million

UOL Group and CapitaLand Development (CLD) are moving forward with a major acquisition: the purchase of Thomson View condominium for S$810 million, as announced on Oct 26. This 255-unit private condominium, located on Bright Hill Drive and completed in 1987, occupies an expansive 504,314 square feet and holds a 99-year lease from April 1975. The site was relaunched for tender earlier this year at an initial price of S$918 million, with renewed interest allowing owners to adjust the reserve price to S$808 million. The agreed purchase price, though below the initial reserve, is expected to make Thomson View Singapore’s largest en bloc deal of 2024.

This sale involves a 50:50 joint acquisition by UOL’s subsidiary, Singapore Land Group, through United Venture Development, and CLD’s subsidiary, CL Onyx Pte Ltd. Located next to the Upper Thomson MRT Station, the site offers convenient access to top schools, nearby amenities, and recreational spaces like Thomson Plaza and nature reserves, making it a prime location for future development.

Another promising development in the area, Hong Leong’s Lentor Central Residences, offers residents a new standard of modern living right next to Lentor MRT station on the Thomson-East Coast Line. Blending convenience with connectivity, the residences are well-positioned for those who appreciate easy access to both nature and city life, bringing together all the essentials for a balanced and refined lifestyle.

EdgeProp