A joint venture led by developer Sustained Land is buying a sprawling site at 8 Thomson Lane for S$578 million from an entity linked to OCBC's Lee family, with plans to build a large residential project on the prime plot.
| Metric | Details |
|---|---|
| Site | 8 Thomson Lane (formerly 418 Thomson Road) |
| Purchase Price | S$578 million |
| Seller | Chequers Properties (linked to the Lee Kong Chian family) |
| Land Area | ~203,000 sq ft |
| Zoning | Hotel use (GPR 2.1) → residential redevelopment (GPR up to 3.5, in-principle approved) |
| Potential GFA | ~781,800 sq ft (with 10% bonus GFA) |
| Potential Units | More than 770 residential units |
| Tenure | 105-year leasehold carved out of freehold title |
| Betterment Charge | ~S$436 million (estimated) |
| Total Land Cost | Over S$1 billion (~S$1,293 psf ppr) |
| Buyer | JV led by Sustained Land (majority) with Kay Lim Realty |
Founded and owned by low-profile tycoon Douglas Ong, Sustained Land is a Singapore-based property developer specialising in residential developments. To date, it has 17 assets in its portfolio, including:
Sustained Land is undertaking the Thomson Lane acquisition with construction group Kay Lim Realty, and holds the majority stake in the joint venture.
The site at 8 Thomson Lane has a storied past, having served multiple roles over the decades:
Located in prime District 11, the site is tucked between Novena and Toa Payoh. It is close to:
The site is also within walking distance of the future Mount Pleasant MRT station and Toa Payoh MRT station.
Nearby, the upcoming Mount Pleasant housing estate is being developed on the former site of the Old Police Academy. The 33-hectare estate in the Core Central Region is expected to yield about 6,000 public housing units across four Build-To-Order projects — a major regeneration that will transform the wider area.
For buyers considering Thomson Reserve in Upper Thomson (District 20), this deal is a useful benchmark for where the broader Thomson corridor is heading:
S$578 million for the site at 8 Thomson Lane, with a further ~S$436 million estimated betterment charge for the residential redevelopment — bringing the total land cost to more than S$1 billion, or close to S$1,293 psf ppr.
With the higher plot ratio (up to 3.5) and a 10% bonus GFA, the site could yield about 781,800 sq ft of GFA and potentially more than 770 residential units, according to industry players.
The S$578 million site was sold with a 105-year leasehold tenure carved out of the freehold title. Market watchers note this longer tenure gives the developer more time to complete the project while allowing eventual residential units to be sold with around 99 years or more remaining on their leases.
Thomson Reserve is in Upper Thomson (District 20), further north along the Thomson-East Coast Line. The Thomson Lane site is in District 11, between Novena and Toa Payoh — roughly 10–15 minutes away by car, sharing the same rail corridor.
A launch timeline has not been announced. The developer still needs to complete the redevelopment approval process. Buyers interested in the wider Thomson corridor can meanwhile register interest for Thomson Reserve, which targets preview in October 2026.
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Source: The Business Times, 18 August 2026 — "Sustained Land buys Thomson Lane plot for S$578m, plans condo project on prime site" by Chong Xin Wei. Figures are based on the published report and publicly available information; development details may change as planning proceeds.