Deal subject to owners’ consent to lower reserve price; sale would be biggest en bloc acquisition since 2023
UOL, Singapore Land and CapitaLand Development have signed an option to acquire the 99-year leasehold Thomson View Condominium for S$810 million in a collective sale, the companies said on Saturday (Oct 26).
The deal would be struck at a price 12 per cent lower than the condo owners’ original reserve price of S$918 million. It is conditional on consent from at least 80 per cent of owners at the Bright Hill Drive development.
The property, on a sprawling 5-hectare site, was put up for tender this year in February with a guide price of S$918 million. The en bloc sale was relaunched in July at the same price, before owners moved to reduce the price on the sale. Two previous attempts were made in November 2021 and May 2022 when the site was marketed at S$950 million.
