A 109,854 sq ft retail space at Thomson Plaza has been sold for $250 million, in a deal jointly brokered by Cushman & Wakefield and Savills. The retail space, named Swing By @ Thomson Plaza, is a multi-concept retail section within the Upper Thomson Road shopping mall.The sale price translates to approximately $2,276 psf based on the property’s net lettable area (NLA) of 109,854 sq ft, and represents a 23per cent premium to the property’s most recent book valuation of $202.6 million.The buyers are Jack Investment and Pangjwee Development, according to an announcement by Link REIT who sold the retail space. The transaction is expected to complete in the second quarter of 2026.Jack Investment’s primary asset is Leisure Park Kallang, an entertainment and retail centre at Stadium Walk near the Singapore Sports Hub, which it acquired in 2003 and subsequently redeveloped in 2006.Link REIT, a Hong Kong-listed real estate investment trust, acquired Swing By @ Thomson Plaza for $172.5 million, or approximately $1,568 psf based on the NLA, in March 2023. Read more