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Freehold condo in Singapore expects S$106M via en bloc sale


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Freehold condo in Singapore expects S$106M via en bloc sale

Peak Court on Thomson Road, the latest freehold condominium site to join the en bloc fever in Singapore, was placed on the market at a reserve price tag of S$106 million, The (Singapore) Business Times reported.

The reserve price reflects a land rate of S$1,342 per square foot per plot ratio for the 57,350-square-foot development, which has a gross plot ratio of 1.4 under the Urban Redevelopment Authority's 2014 master plan.

The asset contains 20 maisonette units and has redevelopment potential for about 106 units, the March 20 report added, citing Edmund Tie & Co., the property's marketing agent.

The tender for the site will close 3 p.m., Singapore time, on May 9.

As of March 19, US$1 was equivalent to S$1.32.