It sits on a 504,314 sq ft with a 99-year lease from Apr 7, 1975, and a plot ratio of 2.1.
Already, the sale had received the support and consent from at least 80% of the residents of the property, by strata area and share value.
The development sits right at the doorstep of Upper Thomson MRT station on the Thomson-East Coast Line, while enjoying close proximity to lifestyle amenities such as at Thomson Plaza and academic institutions including Ai Tong School.
In a joint statement, Ronald Tay, CEO of CLD (Singapore) and Liam Wee Sin, UOL group chief executive, note: “We are pleased to expand our joint venture portfolio with this strategic acquisition. The progress of this sale puts us on track to leverage our combined expertise to rejuvenate and contribute to the vibrancy of this prime estate.”
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As at 4.11 pm, shares in CapitaLand Investment and UOL Group are trading at $2.65 and $6.28 respectively.
