Freehold Peak Court launched for collective sale at $106 mil

/ EdgeProp
March 20, 2018 12:00 AM SGT
The freehold Peak Court condominium on Thomson Road, near Novena, has been put up for collective sale by tender at $106 million, announced Edmund Tie & Company (ET & Co.) the sole marketing agent brokering the sale. All of the owners have consented to the sale.
Peak Court comprises 20 maisonette unit and sits on a 57,350 sq ft site. The asking price reflects a land rate of $1,398 psf per plot ratio, or $1,342 psf on the maximum gross floor area including 10% bonus balcony area. The site is zoned for residential use and has a gross plot ratio of 1.4 under the 2014 Master Plan.
Peak Court is in District 11 and overlooks a two-storey mixed landed residential enclave. It is located within a kilometre to prominent schools like Anglo-Chinese School (Primary), CHIJ Primary (Toa Payoh), and St. Joseph’s Institution Junior. Nearby amenities include United Square and Square 2 in Novena, as well as Zhongshan Mall in Balestier.
A view of Peak Court at Thomson Road. (Picture: ET & Co.)
The site is ideal for redevelopment into a boutique condo project with about 106 units, or a five-storey serviced apartment, subject to approvals, says ET & Co. If serviced apartment approval is granted, the redeveloped site is an excellent opportunity for developers to tap on its proximity to the future Health City Novena and Thomson Medical Centre to cater to medical tourists, says Tan Chun Ming, senior director for investment advisory at ET & Co.
The tender will close on May 9.