The prime district 11 seems to be experiencing a bit of a property buzz, especially with 2 properties recently announcing their entry into the collective sales market.
Peak Court on Thomson road launched for tender at $106 million
A sweet spot near the Novena MRT station has just open up. Peak Court on Thomson road has launched an en bloc tender with an asking price of $106 million.
The 57,350 sq ft freehold prime site currently holds 20 maisonette units. Upon approval, the site could hold up to 106 residential units, a 5-storey serviced apartment or even a healthcare development.
The gross plot ratio of 1.4 means a land rate of $1,398 psf ppr. The maximum potential gross floor are (GFA) works out to be approximately $1,342 psf including a 10% bonus balcony area.
Site holds the potential to attract young families and expatriates
The site is on a choice location with the Pan Island Expressway (PIE) just nearby and schools such as Anglo-Chinese School (Primary) and CHIJ Primary (Toa Payoh) a stone’s throw away. It is also just a short bus and MRT trip or car ride away from the Orchard road shopping belt, not to mention the Novena health city in its vicinity.
Industry experts think that new properties in this location will attract working professionals, in particular, those in the healthcare industry, and also expatriates who might want to live away from the hubbub of the city centre but near enough to the Central Business District (CBD).
Young families who are looking to live closer to their children’s schools may also favour this district.
To add to the site’s many pros, 100% of the owners have consented to the sale. And certainly in this area is definitely a big plus.
