St Thomas Ville attempts second collective sale at $58 mil

/ EdgeProp
February 26, 2019 2:10 PM SGT
St Thomas Ville (Credit: JLL)
The owners of St Thomas Ville have launched their development for collective sale with a reserve price of $58 million, or $1,816 psf per plot ratio, excluding balcony space. This marks their second attempt at a collective sale.
The property comprises 23 apartments and is located at 38 St Thomas Walk, the highest point of the road. It occupies a 11,407 sq ft site that is zoned for residential use with a gross plot ratio of 2.8, and has an allowable height of up to 36 storeys.
There will be no development charge payable due to the existing high development baseline, says JLL, marketing agent for the site.
The site is not subject to a pre-application feasibility study. As it is located within the Central Area, the minimum average unit size of 915 sq ft (85 sqm) does not apply.
St Thomas Ville is a 14-minute walk from the upcoming Great World MRT Station on the Thomson-East Coast Line. The station is slated for completion in 2021. The development is also near schools such as River Valley Primary School, Chatsworth International School and ISS International School.