The S$810 million collective sale of Thomson View was completed on July 1, 2025, marking Singapore’s second-largest en bloc transaction since the 2018 cooling measures. The 99-year leasehold property, comprising 200 apartments, 54 townhouses, and one commercial unit on a 504,314 sq ft site, will be redeveloped into 1,240 residential units by a consortium including UOL Group, Singapore Land, and CapitaLand Development. The transaction overcame initial objections and represents a 12% reduction from the original S$918 million reserve price.
In a landmark transaction that reinforces Singapore’s resilient collective sale market, the S$810 million en bloc sale of Thomson View condominium has received final approval from the Singapore High Court on July 1, 2025.
This marks the second-largest collective sale since the cooling measures of 2018. The substantial deal, which falls approximately 12% below the original reserve price of S$918 million, represents a significant acquisition for the consortium comprising UOL Group, Singapore Land, and CapitaLand Development.
Singapore’s second-largest post-cooling collective sale underscores market resilience despite the 12% price reduction from initial expectations.
Each development entity—United Venture Development and CL Onyx—secured an equal 50% stake in the forthcoming redevelopment project.
The 99-year leasehold property, situated on Bright Hill Drive and completed in 1987, encompasses 200 apartments, 54 townhouses, and a single commercial unit across its expansive 504,314 square feet land parcel.
With a plot ratio of 2.1, the transaction translates to approximately S$1,178 per square foot per plot ratio, inclusive of land betterment charges and lease top-up fees, positioning the site for high-density residential redevelopment.
The collective sale journey began in February 2024 with an initial tender at S$918 million that closed without securing a buyer by September.
Subsequently, in October 2024, the developer consortium proposed a conditional option at the reduced price of S$810 million, which received over 80% owner approval by November.
This enabled the exercise of the option with a 5% payment including a S$1 million deposit.
The transaction encountered legal challenges when six owners filed objections, prompting the Strata Titles Board to issue a stop order in March 2025. This stop order came after failed mediation efforts between the objectors and the Collective Sale Committee on March 19. Justice Audrey Lim initially raised concerns about potential signature irregularities during the preliminary hearings.
However, these objections, which centered on signature collection timing and procedural disputes, were eventually withdrawn, clearing the path for court approval.
The consortium plans an all-encompassing redevelopment featuring 1,240 residential units, reflecting Singapore’s ongoing urban renewal trend.
For current owners, the completion process involves financial disbursement based on share value and unit size.
There will be a three to six-month notice period to vacate following legal completion, which typically occurs within three to six months after court approval.
