Bright Hill Drive Development By UOL Group

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Bright Hill Drive Condo, Singapore Launching Soon

From UOL Group (Developer)
Location Bright Hill Drive off Upper Thomson Road

Type Under planning
Tenure 99-year
Total Site Area 13,437 sq m
No. of Units Approximately 445 units

News From H88.com.sg
Bright Hill Drive condo site nets only 6 bids, top bid hits $291.5m

The Thomson/Sin Ming area has been pretty quiet in the past few years, the most recent launch was that of Thomson Grand in June 2011, an overpriced condo that has since sold out. Well, it looks like another one is on the way, HDB received 6 bids for this project near the our office at Sin Ming. This 99-year leasehold condo along Bright Hill Drive received a top bid of $291.5m from UVD Pte Ltd (who?).

UVD is actually a joint venture between Singapore Land and UOL Group. The developers also have a choice of building condos AND strata landed houses too. Based on their top bid, the cost for each potential unit comes to $719.79psf ppr. We guesstimate a selling price in the region of $1,200 psf to $1,300psf. That's pretty high for an area with no MRT or town centre in sight!

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Waaaait a minute! There COULD be one! Remember the Thomson Line? Rumour has it that one of the stations could pop-out somewhere in the vicinity. The location of the stations should be announced by the end of the year. Should it be nearby, the selling price of this upcoming condo might reach the $1,400psf range! Who knows?

By comparison, nearby Thomson Grand had a median selling price of $1,316 psf in May 2012. A price we thought was very high considering that the average selling price of condos in the area hover at $1,000 psf mark. For example, Thomson View, a pretty old condo, had a unit sold last year in Sept for $860psf.

Such high bids obviously has something to do with the upcoming Thomson Line, which will no doubt raise the land prices in the area. Though the locations haven't been announced, we wouldn't be surprised that the developers already have some rough idea of where they'd be, given the amount of research that they do.

Info via BT, HDB and image via Onemap.sg.

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