Thong Sia Building launched for maiden collective sale for $420m

It’s directly opposite The Paragon.

Thong Sia Building, a 26-storey building located along Bideford Road, directly opposite The Paragon, has been offered for sale by tender.

The vendors are expecting offers in the region of $400 million and $420 million, which translate to a land rate of approximately $2,559 to $2,687 per square feet (psf) over the existing GFA.

Built in 1981, this is the first time the entire building has been put up for sale. More than 80% of the owners, measured both by share value as well as strata floor area, have consented to the collective sale.
Thong Sia Building has a land area of approximately 21,602 square feet, and currently comprises seven levels of commercial space and a 19-level residential tower of 37 apartments.

Its sole marketing agent is JLL.