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Peak Court owners launch en bloc tender with S$106m asking price
OWNERS of the Peak Court condominium at Thomson Road have launched a tender for collective sale with a reserve price of $106 million.
The freehold 57,350 square foot site is zoned for residential use with a gross plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2014. Including a 10 per cent bonus balcony area, that places the reserve price at S$1,342 per square foot per plot ratio.
The current development comprises 20 maisonette units, and was built in the 1980s. Marketing agent Edmund Tie & Co (ETC) said that the site can be redeveloped into a condominium project with about 106 units. If serviced apartment approval is granted, developers can also make use of the site's proximity to the future Health City Novena and Thomson Medical Centre, ETC said.
The development sits within District 11, close to the Novena MRT station.
The tender closes at 3pm on May 9, 2018.