Thomson Reserve occupies the site of the former Thomson View Condominium, which was sold via en bloc in one of Singapore's largest collective sales of 2024. Understanding the land cost gives buyers valuable insight into the pricing and value proposition of this mega development.
| Metric | Details |
|---|---|
| Former Development | Thomson View Condominium (255 units) |
| Purchase Price | S$810 million |
| Price psf ppr | ~S$1,178 |
| Land Area | 504,314 sqft |
| Plot Ratio | 2.1 |
| Buyers | UOL Group / CapitaLand Development / SingLand |
| Year of Sale | 2024 |
| Original Reserve Price | S$918 million |
| Final Price vs Reserve | ~11.8% below original reserve |
| Payout per Owner | Between S$2.2 million and S$4.9 million per unit |
The Thomson View en bloc journey was not straightforward. The collective sale committee initially set a reserve price of S$918 million. After the site failed to attract bids at that level, the owners reset expectations to S$808 million. The final winning bid of S$810 million — submitted by the UOL-led joint venture — was accepted in 2024, making it the largest en bloc transaction of that year.
The S$810 million price works out to approximately S$1,178 psf ppr (per square foot per plot ratio), which is a standard benchmark used by developers to evaluate land cost across different sites regardless of their size or plot ratio.
For a project of this scale (approximately 1,268 units), the total development cost goes beyond just the land. Estimated construction costs for a 99-year leasehold project in District 20 typically range from S$350 to S$450 psf of GFA, depending on specifications, landscaping, facilities, and basement levels.
The S$810 million Thomson View deal was the largest en bloc of 2024. For context, other major en bloc sales in Singapore include:
Understanding the developer's land cost helps buyers evaluate launch pricing. For Thomson Reserve:
Owners received between S$2.2 million and S$4.9 million per unit, depending on unit size. The 255-unit development had a mix of unit types, with larger units commanding higher payouts.
It was approximately 11.8% below the original S$918 million reserve price. Analysts considered it reasonable for a prime District 20 location adjacent to MacRitchie Reservoir. The buyers (UOL, CapitaLand, SingLand) are experienced developers who typically pay market-competitive prices for quality sites.
psf ppr stands for "per square foot per plot ratio" — it standardises land cost across sites with different sizes and plot ratios. It allows buyers and analysts to compare the land cost of Thomson Reserve to other new launches, regardless of their scale or density.
Yes, the land cost is a key factor in determining launch pricing. However, the final price also depends on construction costs, market conditions at launch (targeted October 2026), and the developers' pricing strategy. Typically, early-bird preview prices are more competitive than prices during the public launch phase.
The Lentor Hills estate land bids by various developers have ranged from approximately S$1,000 to S$1,200 psf ppr in recent years. Thomson Reserve's S$1,178 psf ppr is within the same range, but the Upper Thomson location offers proximity to MacRitchie Reservoir and more established amenities, which many consider superior.