St. Thomas Ville freehold en bloc site to be tendered at $58m

The 11,407 sqft site has an allowable height of up to 36 storeys.

The freehold collective sale site St Thomas Ville at 38 St Thomas Walk in District 9 was relaunched for sale by tender for $58m, according to an announcement by marketing agent JLL.

The 12-storey development comprising of 23 apartments is zoned ‘Residential’ with a gross plot ratio of 2.8 and an allowable height of up to 36 storeys under the 2014 Master Plan. The guide price for the 11,407 sqft site reflects about $1,816 psf ppr before factoring in bonus balcony.

The site was originally launched for tender in August 2018 at the same price but was called off due to delays in verification of technical details, stretching late into the year-end holiday season, JLL revealed. The Collective Sale Committee decided on the relaunch on the back of more than 80% of the owners’ consent to the collective sale agreement.

Based on a reply from the Land Transport Authority (LTA), the site is not subject to Pre-Application Feasibility Study and given its Central Area location, the guidelines on the minimum average size of 85 sqm are not applicable, JLL said.

The tender for St Thomas Ville closes on 27 March 2019 at 3 p.m.