Weekend sales update/ Upcoming new launches

By The Folks @PropTalk - November 2, 2010 No Comments

Below are complied from ST and BT reports today:

Weekend Sales Update:

The Glyndebourne
CDL’s freehold project The Glyndebourne saw 112 apartments – or about 75% - of the 150 units snapped up during a private preview which began last Friday.

The apartments – housed in eight blocks of five storeys each – were sold at an average price of $2,100psf.

However, prices ranged from $1,900psf to $2,350psf, ranging from about $1.59 million for a one-bedroom plus study unit to about $7.15 million for a five-bedroom penthouse, CDL said.

The project – located on the Copthorne Orchid Hotel site – saw all one-bedroom with study, two-bedroom and three-bedroom with study units sold. CDL said that 10 out of the 23 penthouses, which ranged from 3,541sqft to 3,565sqft, were also snapped up.

75% of the buyers were local, with permanent residents and foreigners from countries such as Malaysia, Indonesia, South Korea and China making up the remaining 30%.

Upcoming Project Launches:

The Lanai
Far East will be officially launching the 214-unit The Lanai – which consists of two-, three- and four-bedroom units that range from 947sqft to 1,615sqft – along Hillview Avenue this weekend.

The 999-year leasehold project has already sold 76 units at a preview last month, which included a bulk purchase, with prices starting from $1,290psf.

Spottiswoode Residences
UOL Group is expected to preview the freehold Spottiswoode Residences condo next week, and the price is expected to be about $2,000psf. About 90% of the 351 units comprise one-bedroom, one-bedroom plus study and two-bedroom apartments.

The project, a 36-storey tower, is next to Spottiswoode Park, a green lung in the area, and close to Tanjong Pagar, which is slated to be transformed into a new bustling waterfront district after the container terminals in the vicinity eventually move out.

The Tanjong Pagar Railway Station site is also expected to be redeveloped after Keretapi Tanah Melayu vacates the site under a historic land-swap deal between Singapore and Malaysia announced in September.

Robinson Suites
Agents are said to be gathering interest for the freehold Robinson Suites at prices ranging from $2,300psf to $3,300psf. The 42-storey project along Robinson Road, to be developed on the VTB Building site, comprises 167 apartments and three ground-floor shop units. All apartments are either one-bedroom plus study units or two-bedders. Unit sizes start at 484sqft.

The developer – a consortium whose shareholders include Cheong Sim Lam (whose family developed International Plaza), Fission Holdings, Tan Koo Chuan and Saw Pik Kee – is pitching the project as the “first ever freehold apartments along Robinson Road”.

Former Farrer Court site
CapitaLand is getting ready to release the first phase of its 1,715-unit condo on the 99-year leasehold Farrer Court site. The 36-storey Zaha Hadid-designed project will feature one to four-bedrooom apartments, penthouses and six-pairs of strata-detached houses.

Sim Lian is said to be gunning to release Waterview, a 99-year leasehold condo comprising 696 units at Tampines Ave 1/10 facing Bedok Reservoir, as soon as it gets all the necessary approvals from the authorities.

The mass-market project will comprise tow, three and four-bedroom apartments and penthouses. The average price is expected to be in the $820 - $920psf range.


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