Thomson View Condominium has been put up for sale with an indicative asking price of between $595 million and $635 million, said its marketing agent HSR Investment Sales.
This includes an upgrading premium of about $130 million to top up the 99-year lease and a differential premium of about $158 million, said HSR.
The 540,314 square-foot site has a possible net saleable gross floor area of 1.272 million square feet.
Thomson View Condominium has been zoned for residential use with a gross plot ratio of 2.1 with a maximum height of up to 24 storeys.
HSR said a future development can yield about 1,012 units of apartments averaging 1,100sqft per unit and 33 strata landed houses averaging 2,500sqft.
A brand new development is expected to fetch a minimum of $1,350 per square foot (psf) to $1,600 psf.
HSR said higher up Upper Thomson Road, units under construction at Thomson Grand are changing hands at average prices of $1,350psf onwards and one unit had achieved a sale price of up to $1,501psf.
Currently, Thomson View consists of 200 residential apartments, 54 townhouses and a shop lot.
The site is open for public tender until 3pm on 12 January, 2012.
Source: Channel News Asia