Sustained Land buys Thomson Lane plot for S$578 million, plans condo project on prime site
The land parcel is being acquired from an entity linked to OCBC’s Lee family
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[SINGAPORE] A joint venture led by developer Sustained Land is buying a sprawling site in Thomson Lane for S$578 million from an entity linked to OCBC’s Lee family, with plans to build a large residential project on the prime plot.
According to a caveat lodged on Aug 11, the seller is Chequers Properties, a company linked to the family of late rubber magnate and philanthropist Lee Kong Chian, regarded as the founding father of OCBC.
The site at 8 Thomson Lane spans a 203,000 square feet (sq ft) and is currently zoned for hotel use with a gross plot ratio of 2.1 under the Urban Redevelopment Authority’s (URA) Master Plan 2025.
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