{"id":56156,"date":"2026-04-11T01:26:42","date_gmt":"2026-04-11T01:26:42","guid":{"rendered":"https:\/\/christiancorner.us\/index.php\/2026\/04\/11\/bought-for-172-5-million-sold-for-250-million-in-2023-thomson-plaza-retail-block-deal-explained\/"},"modified":"2026-04-11T01:27:10","modified_gmt":"2026-04-11T01:27:10","slug":"bought-for-172-5-million-sold-for-250-million-in-2023-thomson-plaza-retail-block-deal-explained","status":"publish","type":"post","link":"https:\/\/christiancorner.us\/index.php\/2026\/04\/11\/bought-for-172-5-million-sold-for-250-million-in-2023-thomson-plaza-retail-block-deal-explained\/","title":{"rendered":"Bought for $172.5 million, sold for $250 million in 2023 \u2013 Thomson Plaza retail block deal explained"},"content":{"rendered":"<p>\n<\/p>\n<p>    Bought for $172.5 million, sold for $250 million in 2023 \u2013 Thomson Plaza retail block deal explained<\/p>\n<div>\n<p>109,854 square feet of retail space at Thomson Plaza has been sold for $250 million in a deal jointly brokered by Cushman &#038; Wakefield and Savills. The retail space, called Swing by @ Thomson Plaza, is a multi-concept retail section within the Upper Thomson Road shopping mall. The sale price, based on the property&#8217;s net lettable area (NLA) of 109,854 sq ft, is approximately $2,276 psf, and represents a 23% premium to the property&#8217;s most recent book valuation of $202.6 million. According to an announcement from Link REIT, which is selling the retail space, the buyers are Jack Investments and Pangjawi Development. The transaction is expected to close in the second quarter of 2026. Jack Investments&#8217; primary asset is Leisure Park Kallang, an entertainment and retail center at Stadium Walk near the Singapore Sports Hub, which it acquired in 2003 and later redeveloped in 2006. Link REIT, a Hong Kong-listed real estate investment trust, acquired Swing By @ Thomson Plaza in March for $172.5 million or about $1,568 psf on an NLA basis. 2023&#8230;<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v4.0\"><\/script><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v13.0\" nonce=\"3nfhalVK\"><\/script><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_GB\/sdk.js#xfbml=1&#038;version=v13.0\" nonce=\"blyG8KXs\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bought for $172.5 million, sold for $250 million in 2023 \u2013 Thomson Plaza retail block deal explained 109,854 square feet of retail space at Thomson Plaza has been sold for $250 million in a deal jointly brokered by Cushman &#038; Wakefield and Savills. The retail space, called Swing by @ Thomson Plaza, is a multi-concept<\/p>\n","protected":false},"author":1,"featured_media":7126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[2249,9677,1570,2327,375,8780,4642,4260,16070],"class_list":["post-56156","post","type-post","status-publish","format-standard","has-post-thumbnail","category-daily-bread","tag-block","tag-bought","tag-deal","tag-explained","tag-million","tag-plaza","tag-retail","tag-sold","tag-thomson"],"_links":{"self":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/56156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/comments?post=56156"}],"version-history":[{"count":1,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/56156\/revisions"}],"predecessor-version":[{"id":56159,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/56156\/revisions\/56159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media\/7126"}],"wp:attachment":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media?parent=56156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/categories?post=56156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/tags?post=56156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}