20 strata townhouse that are linked to the edge of Thomson Plaza

In the back of Thomson Plaza is a townhouse development named Marigold Mews. It’s located on Marigold Drive, accessible via Soo Chow Garden Road off Upper Thomson Road. It is not widely known the fact that these townhouses, which are double-storey, are connected to Thomson Plaza. Thomson Plaza shopping mall, and form an integral part of the development that is mixed use.

Terra Hill condo for sale is equivalent to a land rate of $1,355 psf ppr and $1,318 psf ppr, including a 7% bonus balcony area in the GFA.

The owners of 19 townhouses in Marigold Mews gathered to begin a mass sale on the 13th of July at the price at $158million. The sale will be conducted through an express of interest process by the sole marketing agent Sammi Lim, the founder as executive director at Brilliance Capital.

The only sign that the development of residential homes is connected with Thomson Plaza are the beams which span 2 rows of townhouses. “These are extremely sturdy beams, and supporting beams, and they are connected to Thomson Plaza’s edge. of Thomson Plaza,” points out Tim Kow, one of the residents of the townhouses that participate in the sale in bulk.

Marigold Mews was completed in 1979, and it was given a 99-year lease beginning in 1976. This means that the property is left with 53 years in the lease.

Thomson Plaza shopping mall was developed and opened simultaneously under the name Marigold Mews in 1979 by CapitaLand (former DBS Land). The mall is three stories high with a GFA (GFA) in the range of 467,298 square feet and includes 180 stores, which includes cafes, restaurants Super-markets as well as enrichment centres. Tenants that anchor the mall include FairPrice Finest, Daiso Japan, DBS Bank, Koufu and Yamaha Music School. Established F&B operators who have been around for many seasons are Peach Garden Chinese Restau-rant, Sushi Tei, Swensen’s, KFC and Pizza Hut.

Mercatus Co-operative acquired the strata ownership of the property in July of 2016 through NTUC Fairprice Co-operative, which acquired a 100% of the interest of Thomson Plaza Pte Ltd from CapitaLand in 2011 , for $103,093. Thus, Mercatus owns 110,000 sq feet of retail space at Thomson Plaza (specifically Swing By at Thomson Plaza), which is roughly fifty% of the total area lettable within the mall. In the last month, Mercatus announced that it is conducting an “strategic examination” of its real estate investments in its portfolio. These include AMK Hub, Jurong Point, Nex and Swing By @ Thomson Plaza.

The townhouses are located in the total strata area of 60,805 sq feet which is 25.29% of Thomson Plaza’s strata total, according to Brilliance Capital’s Lim. Together, they constitute major stakeholders of the Management Corporation Strata Title (MCST) through the strata area and strata area, she says.

Each townhouse comes with an area of strata that ranges between 2,411 and 4,133 sq feet. In the case of the price that is being offered at $158 million in the case of the sale as a bulk purchase the owners could take home $6.2 million or $10.7 million each, according to Lim.

The townhouses of the strata are equipped with 3 bedrooms located on the top level as well as one on the ground floor, according to Kow who has lived at Marigold Mews since the year 1996. In the past, certain homeowners have renovated their homes and added rooms to accommodate their expanding families. Kow’s house, for example has five bedrooms now. “My three kids grew up in this house,” he says. “Because due to the sheer size the houses as well as the area, they are appealing for families with children.”

The best part is an added benefit is the Upper Thomson MRT Station on the Thomson-East Coast Line that was opened in August. “In the near future we could just put on your flip-flops with shorts, and T-shirt, and bring a towel and go on the MRT train until the Katong Station, and walk across the ocean to East Coast Park,” the man says.

A lot of residents at Marigold Mews have been for a number of years. According to URA information, the most recent sale took place in the year 2018 where one of townhouses that had the strata area of 2,960 square feet was sold in exchange for $1.77 million ($598 per square foot).

It was just four years ago. “It’s difficult to come up with an accurate valuation since nobody sells,” says Jenny Yin who relocated into Marigold Mews from Serangoon Gardens 15 years ago. Her house has turned into an exhibit for Marigold Mews, as it’s packed with the collection she has of antiques as well as antiques.

The majority of the homeowners of Marigold Mews are happy to remain on their current property However, the biggest issue is the lease’s shortening Kow concedes Kow. “Once the lease is over fifty years old, you must think about what the next steps are,” he says.

All hopes of a collective sale are tied to what happens to Thomson Plaza. According to the URA Master Plan 2019, Thomson Plaza is a part of the URA Master Plan 2019. Thomson Plaza site is zoned for commercial use in full, with a Gross plot ratio of 3.0. The planned commercial development may include an hotel. The mall is directly connected with the Upper Thomson MRT Station.

If Mercatus was to sell Swing By @ Thomson Plaza and the buyer of the property would have control over greater than the 80% of the strata area of Thomson Plaza when combined with the residential units in Marigold Mews. Lim says. “It could be a huge opportunity for the buyer to gain value, and an important step in any collective sale that could occur in the near future.”

In the meantime, a bulk purchaser of the units at Marigold Mews could be able to rent townhouses based on the strong demand for rental, or even repurpose the property to serve as housing or co-living units as noted by Lim. The exercise to express interest is scheduled to end on 18 August.