Peak Court sold en bloc to Tuan Sing joint venture for $118.88m
A combined venture between Rich Capital Holdings and SGX-listed Tuan Sing Holdings has acquired Peak Court successfully for the price value of $118.88 million at the end of collective sale tender during May 11th.
The site being located at 333 Thomson Road in prime District 11, is a 35 years old development with 20 units in four-storey block placed on a freehold site covering 57,378 sq ft. This site is specifically zoned for residential use and has a plot ratio of 1.4 under URA Master Plan 2014. It has a gross floor area of 80,329 sq ft and the purchase value of $118.88 million specifies the land rate of $1,558 psf per plot ratio (psf ppr).
This site could also be redeveloped onto a 106-units resort-like boutique development, as per Edmund Tie & Co who is the sole marketing agent for this project.