The deal was contingent on 80% of the owners, by strata area and share value, signing a supplemental agreement to lower the reserve price from $918 million to $808 million. The property had been relaunched for sale in February this year with a reserve price of $918 million.
The required 80% consensus was reached on Nov 22, with Swee Shou Fern, head of investment advisory at Edmund Tie, brokering the sale.
The en bloc purchase of Thomson View marks the largest residential en bloc deal since Kingsford Group’s acquisition of Chuan Park for $890 million in July 2022.
However, in terms of absolute price, Thomson View’s en bloc deal ranks as the second-largest in 2024, following Hotel PropertiesLtd’s acquisition of Concorde Hotel and Shopping Mall for $821 million on Nov 7.
See also: CapitaLand Development and UOL granted green light to acquire Thomson View property
