PROPERTY PERSONALISED MCI (P) 136/08/2017 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of July 2, 2018 ISSUE 837-58 Market news URA releases six GLS sites on the Confirmed List for 2H2018 EP2 Gains and Losses Four-bedroom unit at The Claymore rakes in $3.4 mil profit EP10 Done Deals River Valley home prices riding high EP12 SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Homebuyers buffet This weekend will see the preview of two new projects: Park Colonial by a consortium led by Chip Eng Seng Corp in the Woodleigh area; and Stirling Residences by a joint venture between Logan Property and Nanshan Group in Queenstown. In addition, M+S will be launching the second tower of Marina One Residences in prime District 1. The roll-out of new projects will provide homebuyers with a wide spectrum of choices.
EP2 EDGEPROP JULY 2, 2018 PROPERTY BRIEFS EDITORIAL EDITOR Cecilia Chow CONTRIBUTING EDITOR Pek Tiong Gee WRITERS Timothy Tay, Bong Xin Ying, Charlene Chin DIGITAL WRITER Fiona Ho COPY-EDITING DESK Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi Murugiah PHOTO EDITOR Samuel Isaac Chua PHOTOGRAPHER Albert Chua EDITORIAL COORDINATOR Yen Tan DESIGN DESK Tan Siew Ching, Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za abah ADVERTISING + MARKETING ADVERTISING SALES DIRECTOR, COMMERCIAL OPERATIONS Diana Lim SENIOR ACCOUNT MANAGERS Janice Zhu, James Chua ACCOUNT MANAGER Bernard Wong SALES STRATEGIST Han YaoGuang CIRCULATION DIRECTOR Dominic Kevin Sim MANAGER Bryan Kek EXECUTIVES Malliga Muthusamy, Ashikin Kader CORPORATE CHIEF EXECUTIVE OFFICER Bernard Tong PUBLISHER The Edge Property Pte Ltd 150 Cecil Street #13-00 Singapore 069543 Tel: (65) 6232 8688 Fax: (65) 6232 8620 PRINTER KHL Printing Co Pte Ltd 57 Loyang Drive Singapore 508968 Tel: (65) 6543 2222 Fax: (65) 6545 3333 PERMISSION AND REPRINTS Material in The Edge Property may not be reproduced in any form without the written permission of the publisher We welcome your comments and criticism: propertyeditor.sg@ bizedge.com Pseudonyms are allowed but please state your full name, address and contact number for us to verify. Dalvey Court up for collective sale at $160 mil Owners of the freehold Dalvey Court (right) have put up the 32-unit residential block for collective sale. The reserve price of $160 million translates into an estimated $2,009 psf per plot ratio (ppr), says Cushman & Wakefield, the appointed marketing agent for the sale. There is no development charge payable due to the high development baseline. Given the estimated gross floor area (GFA) of 79,660 sq ft, the site can be redeveloped into 93 apartment units of 753.5 sq ft each, according to Cushman & Wakefield. Under the 2014 Master Plan, the residential site has a plot ratio of 1.6 and a 12-storey height limit. Completed in 1976, Dalvey Court, off Bukit Timah Road, is a six-minute walk to the Stevens MRT station on the Downtown Line. In February, the 77-unit City Towers, another freehold development off Bukit Timah Road, was sold for $401.9 million, or $1,847 psf ppr. The tender for the Dalvey Court site will close on Aug 2. CapitaLand buys mixed-use site in Chongqing, China CapitaLand has acquired all the shares in Chongqing Zhonghua Real Estate, a Chinese company that owns a prime 32ha mixed-use site in Chongqing, China. A cash consideration of RMB2.2 billion ($459 million) is payable and takes into account the agreed value of the property, which is RMB5.7 billion. The site in Chongqing s Xinpaifang comprises two greenfield sites where a future development could yield 1,900 residential units and a 3.6 million sq ft shopping mall as well as brownfield sites with an inventory of 223 residential units, and 1.1 million sq ft of office and retail space. Given its significant scale, strategic location and excellent connectivity, the land parcel in Chongqing s Xinpaifang is a prized acquisition that will boost CapitaLand s landbank in a key gateway city in the southwestern region of China, says Lim Ming Yan, group CEO of CapitaLand Group. Xinpaifang is a mature residential and commercial zone in Liangjiang New Area, part of Chongqing s ROXY-PACIFIC Free Trade Zone. The site in Xinpaifang is part of a well-established residential area surrounded by highend residential developments and government offices. Chongqing is one of China s fastest-growing cities with strong investment potential. The city s growing population and rising income per capita have generated demand not only for residential properties but also premium retail and office spaces in central locations, says Lucas Loh, CEO of CapitaLand China. Hwa Hong buys two Jalan Besar commercial sites for $13.8 mil Hwa Hong Corp has bought two commercial freehold sites on Jalan Besar from City Developments for $13.8 million. The two sites measure an estimated 3,230 sq ft and are zoned for commercial use, with a gross plot ratio of 3.0. Hwa Hong intends to develop the sites into one or two commercial buildings, with a maximum GFA of 9,691 sq ft. The move is in line with the company s strategy to strengthen its future rental incomes and benefit from the capital appreciation of the sites. The sites are within walking distance of the Farrer Park and Jalan Besar MRT stations, and are close to City Square Mall and Little India. Roxy-Pacific and Tong Eng sell Sydney property for $154.3 mil Roxy-Pacific Holdings and Tong Eng Group have sold off their freehold commercial property in Sydney to ICPF Nominees, an Australian private company, for A$153 million ($154.28 million). The 14-storey building at 117 Clarence Street (left) was acquired in February 2016 by the two companies for A$81 million through a 50:50 joint venture. The sale follows that of another freehold office building in Sydney, which Roxy-Pacific sold off in 2017 for A$158 million. Roxy-Pacific purchased the 28-storey office building at 59 Goulburn Street in Sydney s south CBD for A$90.2 million, above its valuation of A$86 million, in July 2014. Both prime commercial buildings in Sydney had contributed healthy recurring income before they were divested at a good price. We hope to replicate this model and extend our investment track record in the near future, recycling the capital from the sale of 117 Clarence Street into other yield-accretive investments to enhance shareholder value, says Teo Hong Lim, executive chairman and CEO of Roxy-Pacific. Meanwhile, Tong Eng Group intends to grow its presence and investment portfolio in Australia, says Teo Tong Lim, group managing director of the company. Tong Eng Group s first foray into Australia was the purchase of the Harley Davidson building at 111-125 A Beckett Street, Melbourne, in April 2015 for A$38 million. It was subsequently sold for A$61 million in July 2017. CUSHMAN & WAKEFIELD (GLS) programme for 2H2018. Nine other sites are under the Reserve List. The confirmed GLS sites can potentially yield 2,705 private residential units (including 695 executive condominium (EC) units), 454,237 sq ft (42,200 sq m) of gross commercial space and 390 hotel rooms. Two of the confirmed GLS sites are in prime districts. OrangeTee & Tie believes that the Kampong Java Road GLS site in prime District 9 will be the most highly contested area among developers, as there has not been a GLS site sold in the area for years. The property consultant estimates that the site opposite the Newton MRT station, at the fringe of Orchard Road could be successfully bid for $1,400 to $1,600 psf. The government has also included a 51,667 sq ft hotel site on Club Street in the confirmed GLS list. This is the first site of its kind since the Bukit Chermin hotel plot was released in 2008. Other notable GLS sites include a 16,146 sq ft plot on Middle Road that can house up to 390 residential units. OrangeTee & Tie believes that the site would be popular among developers, owing to its proximity to the Bugis MRT station. Other property consultants agree. The completion of South Beach and DUO integrated developments, together with the upcoming Beach Road mixed-use development site won by GuocoLand, would inject a dose of vibrancy in the area, says Christine Li, senior director of research at Cushman & Wakefield. The only EC site released in the land sales programme is at Tampines Avenue 10. OrangeTee & Tie expects the site to be sold at around $580 to $600 psf ppr, based on the bid price fetched by the Sumang Walk EC GLS in Punggol. Meanwhile, under the Industrial Government Land Sales programme, six sites were released in the Confirmed List, with a total GFA of 7.65ha. Seven sites are under the Reserve List. Compiled by Charlene Chin and Timothy Tay E URA releases six GLS sites for 2H2018 The Singapore government has released six confirmed land sites under the Government Land Sales
EDGEPROP JULY 2, 2018 EP3
EP4 EDGEPROP JULY 2, 2018 DISTRICT 13 PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE The 805-unit Park Colonial will be launched on June 30, ahead of Woodleigh Residences by the SPH-Kajima JV Park Colonial leads new launch in Woodleigh Chia: The reason why I chose this site is that there hasn t been a new launch in the area for some time BY BONG XIN YING This time last year, property developers had bid aggressively for two government land sites on opposite sides of the Woodleigh MRT station, off Upper Serangoon Road. In June 2017, a joint venture (JV) between Singapore Press Holdings and Kajima Development the property development arm of Singapore-based Japanese construction group Kajima Overseas Asia paid $1.13 billion, or $1,181 psf per plot ratio (ppr), for a mixed residential and commercial development site, which will be developed into the 680-unit Woodleigh Residences and Woodleigh Mall, which is expected to have about 300,000 sq ft of retail space. Woodleigh Residences is expected to be launched in September, with an indicative price of $2,000 psf. In July 2017, a consortium comprising CEL Development (the property investment and development arm of Singapore-listed Chip Eng Seng Corp), Heeton Holdings and KSH Holdings paid $700.7 million, or $1,100 psf ppr, for the residential development site across the road on Woodleigh Lane. Both are 99-year leasehold sites, purchased in government land tenders. Launching ahead of the competition However, Chip Eng Seng and its JV partners have made sure that their new project will be launched ahead of the project located opposite our site, says Raymond Chia, Chip Eng Seng executive chairman and group CEO. The preview of the 805-unit Park Colonial on Woodleigh Lane will be held on the weekend of June 30 and July 1. The reason why I chose this site is that there hasn t been a new launch in the area for some time, says Chia. The last launch of a private condominium in the Woodleigh area was nine years ago, when the 330- unit 8@Woodleigh was launched in June 2009 and fully sold within two weekends. The project was completed in 2012. The competition is not as intense as at some of the other neighbourhoods, as Woodleigh is a new town, says Chia. What is more, Park Colonial is located next to the Woodleigh MRT station. It s probably the first launch of a mass-market condo that s so close to an MRT station this year, Chia notes. In the future, residents will also be able to enjoy the benefit of the development s proximity to Woodleigh Mall across the road. Park Colonial s initial average price is likely to be around $1,700 psf. The project is expected to be launched in phases. The main reason for that is that Woodleigh Residences is expected to be launched at prices north of $2,000 psf. According to sources, this is likely to pull up prices in the area, thereby benefiting Park Colonial as well. Sized to sell To cater for a wide spectrum of buyers, units at Park Colonial will range from one- to five-bedroom apartments. About 21% of the units will be one-bedroom and one-bedroom-plusstudy units that range from 463 to 506 sq ft. Two-bedroom units will make up 41% of the units and range from 570 sq ft for a two-bedroom classic unit to 743 sq ft for a two-bedroom dual-key unit. Three-bedroom units of 915 to 1,066 sq ft will make up another 27% of the units. Four-bedroom units, including deluxe units of 1,184 to 1,410 sq ft, will make up 60 units (7.5%). Five-bedroom units of 1,712 sq ft that come with private lift access will total just 29 units in the development. Designed by ADDP Architects, Park Colonial comprises six 14- to 15-storey blocks that occupy a 210,404 sq ft site. According to the architect, the design was inspired by the black-and-white colonial homes nestled within Woodleigh Park. The project has 50 facilities, including the clubhouse, which is the centrepiece; a cantilevered, 60m lap pool; lawns; courtyards; nature trail; and children s play area. This is not the first collaboration by Chip Eng Seng, Heeton and KSH Holdings, which have stakes of 60%, 20% and 20% in the JV respectively. The trio were also partners at the 720-unit Grandeur Park Residences, located adjacent to the Tanah Merah MRT interchange station on Bedok South Avenue 3. Launched last year,
EDGEPROP JULY 2, 2018 EP5 DISTRICT 13 The premium five-bedroom units come with a his and her bathroom concept Park Colonial comprises six 14- to 15-storey blocks that occupy a 210,404 sq ft site Five-bedroom units of 1,712 sq ft come with private lift access The living room of a two-bedroom unit at Park Colonial the project is already 97% sold, with the latest median price at $1,516 psf, according to URA data. The JV partners launched the 1,390-unit High Park Residences two years ago. The project was 90% sold on the first weekend of its launch in July 2015, and fully sold within 12 months, which was a record for a development of such a size. What s next? In the pipeline is the Changi Garden site, which Chip Eng Seng purchased en bloc for $248.8 million last October. The price was 27% above the asking price of $196 million, which translates into $888 psf ppr. The existing site contains 60 apartments, 12 penthouses and 12 shops. The 200,095 sq ft, freehold site at the junction of Upper Changi Road North and Jalan Mariam can be redeveloped into a new low-rise condo project with 320 residential units and several retail shops, according to Chip Eng Seng. The project is likely to be launched next year. Given its location in the Changi area, the new project will have a resort theme, says Chia. Once again, we chose this site because of the lack of competition. Chia believes home buyer interest remains strong and that there are no signs of a slowdown just yet. Buyers are spoilt for choice, he says. There ve been plenty of en bloc deals transacted over the past 12 to 15 months. Many of these en bloc beneficiaries who are sitting on cash are probably looking for a new investment property. I strongly believe location will be very important in their decision-making. E Three-bedders make up 27% of the units at Park Colonial
EP6 EDGEPROP JULY 2, 2018 DISTRICT 3 Logan Property bets big with Stirling Residences The scale model for Stirling Residences, which has been raised 15m above street level PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE The Hong Kong-listed property group s 2,659 residential units in Singapore account for just 2.4% of its total saleable stock. But it intends to use the city state as a springboard to venture overseas. BY CHARLENE CHIN The preview of Stirling Residences will be held on the weekend of June 30. The 1,259-unit private condominium is the maiden Singapore residential project by Hong Kong-listed, Shenzhen-headquartered property developer Logan Property Holdings Co. Stirling Residences is a 51:49 joint-venture project between Logan Property and Chinese developer Nanshan Group. For Nanshan Group, Stirling Residences will be its second residential project in Singapore. Its first was the 288-unit Thomson Impressions, located on Sim Ming Avenue, off Thomson Road. Launched in November 2015, the private residential project is fully sold except for two strata houses. It is expected to obtain its Temporary Occupation Permit in July. Logan Property and Nanshan Group won the 99-year leasehold, 227,220 sq ft site on Stirling Road, located off Commonwealth Avenue, with a top bid of $1.003 billion, which translates into $1,051 psf per plot ratio (ppr). It beat 17 other bidders in May last year, winning the first fully residential site that crossed the billion-dollar mark. The bid price was considered high even in psf ppr terms until it was surpassed two months later by a consortium led by Singapore-listed construction group Chip Eng Seng Corp, which won the Woodleigh Lane residential site 12 months ago with a bid of $700.7 million, or $1,100 psf ppr. The site will be developed into the 805-unit Park Colonial, which will also hold its preview on June 30. Location and scale It s all about location, says Chng Chee Beow, executive director of Logan Property (Singapore). Stirling Residences is just a three-minute walk to the Queenstown MRT station; it has three towers of 38 to 40 storeys, which means units from the 20th floor will have a view of the city skyline or the sea. Chng, who joined the firm in January, heads the Singapore team at Logan Property. A veteran in the property industry with three decades of experience, Chng was formerly the executive director of CEL Development, the property development and investment arm of Chip Eng Seng Corp. Prior to that, he was the property director at Singapore-listed property group Wing Tai Holdings. Besides its city-fringe location and proximity to the MRT station, Stirling Residences is also the largest-scale, high-rise residential development in Singapore to use prefabricated prefinished volumetric construction (PPVC). The appointed architect is P&T Architects and Engineers, while China Construction (South Pacific) Development Co is the main contractor. Stirling Residences will have three high-rise towers: two 40-storey blocks and one 38-storey building. The three towers will be raised 15m equivalent to five storeys above street level. This frees up a greater site area for landscaping and amenities, says Chng. The condo will have a diverse range of facilities. In a large-scale project like this with a wide mix of unit types from one- to four-bedders you need to cater to different groups of people: young professionals, families with young children, multi-generational families and investors, says Chng. The showflat of a three-bedroom unit at Stirling Residences The showflat of a four-bedroom unit at Stirling Residences Limited unsold inventory One-bedroom units starting from 441 sq ft account for 227 (18%) of the units at Stirling Residences. Two-bedroom units make up 687 (55%) of the units. Another 339 units (27%) are a mix of three- and four-bedroom units of 883 to 1,346 sq ft. There are just six 4-bedroom penthouses, of 1,959 to 1,970 sq ft. Prices of the units start from $800,000 for a one-bedroom apartment, or upward of $1,800 psf.
EDGEPROP JULY 2, 2018 EP7 DISTRICT 3 LOGAN PROPERTY Logan City with 50,000 residential units in Shenzhen is the group s flagship and biggest development LOGAN PROPERTY LOGAN PROPERTY Chng: We like the Stirling Road site because there s not a lot of new supply in the neighbourhood Lai: In Singapore, the group will continue to look for opportunities to replenish its landbank Logan Carat Complex comprises 6,800 apartments, 138,000 sq m of office and hotel space and 100,000 sq m of retail space In the neighbourhood of Stirling Residences, the only other new launch has been MCL Land s 309-unit Margaret Ville. So far, 115 of the 120 units released have been sold at an average price of $1,880 psf. Meanwhile, the 736-unit Queens Peak by Chinese developer Hao Yuan Investments, which is marketed by MCC Land, is 94% sold. The project is linked directly to the Queenstown MRT station. Next door to Queens Peak, the 845-unit Commonwealth Towers by City Developments Ltd is already completed and fully sold. We like the Stirling Road site because there is not a lot of new supply from new launches in the neighbourhood, says Chng. Growing the Singapore landbank Besides Stirling Residences, Logan Property has a second residential project that is targeted for launch next year. This will be the redevelopment of the privatised HUDC estate Florence Regency on Hougang Avenue 2, which Logan Property purchased en bloc for $629 million last October. With a land area of 389,236 sq ft and plot ratio of 2.8, the price translates into $842 psf ppr, including an estimated $288.6 million in differential premiums for topping up the lease to a fresh 99 years and intensification of land use. According to Chng, the Florence Regency site will be redeveloped into a new private residential project with 1,400 units. The site is located within a 13-minute walk of both the Hougang and the Kovan MRT stations. As the Florence Regency site is large, there is scope for generous facilities that cater for a wide spectrum of residents, notes Chng. Within the span of 12 months, Logan Property has acquired two sizeable sites in Singapore, with the potential to build 2,659 residential units, says Lai Zhuobin, chief financial officer and executive director of Logan Property Holdings. Logan Property is now ranked among the top developers in Singapore in terms of size of landbank, he notes. Even then, Singapore projects account for just 2.4% of Logan Property s total saleable stock and 0.7% of its total landbank of 295.3 million sq ft. Betting on China s Greater Bay Area In China, Logan Property s total sales for FY2017 were RMB43.42 billion ($8.96 billion), up 51.2% from the previous year. For the first four months of 2018, the company recorded total sales of RMB20.66 billion, an 80.8% y-o-y increase. Established in 1996 and listed on the Hong Kong Stock Exchange in 2013, Logan Property has a market capitalisation of RMB58.47 billion. Logan Property is not new to developing large-scale projects in Shenzhen, its flagship and biggest development is Logan City, with 50,000 residential units. Logan Property also has experience in developing projects that are integrated with transportation, such as underground metro stations. These include Acesite Park, a 2,058-unit residential development, and Logan Carat Complex, a mixed-use project with 6,800 apartments, 138,000 sq m of office and hotel space and 100,000 sq m of retail space. Logan Property was ranked the top developer in Shenzhen in 2017; it sold 4,416 units that year. It was the top developer in Shenzhen again for the first four months of 2018. The group has maintained its leading edge, especially in major cities in the Guangdong-Hong Kong-Macau Greater Bay Area, which accounts for 81% of the group s business focus, says Lai. The Guangdong-Hong Kong-Macau Greater Bay Area is a Chinese government initiative to link 11 cities into an integrated economic and business hub. In May, Vice-Premier Han Zheng, an official in charge of the bay area development, was reported to have said that it was an area that had been personally planned, mapped out and promoted by President Xi Jinping, a testament to the project s importance. Logan Property intends to use Singapore as a springboard to venture overseas. Beyond the city state, the company has set its sights on Australia, says Lai. In Singapore, the group will continue to look for opportunities to replenish its landbank, he adds. However, the group will be selective in its future acquisitions, given the supply of en bloc sites in the pipeline. E LOGAN PROPERTY LOGAN PROPERTY The infinity pool is one of two swimming pools within Stirling Residences The rainforest trail within Stirling Residences
EP8 EDGEPROP JULY 2, 2018 DISTRICT 1 Yoga classes are regularly conducted at the central square, or Heart, at Marina One Second tower of Marina One Residences to launch from $2,700 psf BY TIMOTHY TAY M+S, the joint venture between Malaysian sovereign wealth fund Khazanah Nasional and its Singapore counterpart Temasek Holdings, started private previews of the second tower of Marina One Residences on June 18, with the launch scheduled for early July. Units at the premium tower at Marina One Residences called Garden Tower will be priced from $2,400 psf, with average prices in the range of $2,700 to $2,800 psf, says Kemmy Tan, CEO of M+S. Interest among prospective buyers has been strong, notes Tan Siew May, CBRE senior director of residential projects. The indicative price at an average of $2,700 to $2,800 psf looks attractive compared with recent land prices; for instance, the en bloc sale of Park House on Orchard Boulevard was at $2,910 psf per plot ratio, she says. This implies that future project prices will be higher. The Garden Tower and the adjacent Park Tower are a mirror image of each other, with each 34-storey block containing 521 units. This brings the total number of units at Marina One Residences to 1,042 units. The development has a wide mix of unit types, with sizes that are considered large by today s standards. The units at Garden Tower will have unobstructed sea views and a view of Marina Bay. Some of the units are slightly larger than those at Park Tower. One-bedroom and one-bedroomplus-study units at Garden Tower are 657 to 775 sq ft, but there will be more of the larger units. Two-bedroom units are 980 to 1,066 sq ft, while two-bedroom-plus-study units are 1,141 to 1,281 sq ft. Three-bedroom-plus-study units are 1,561 to 1,593 sq ft and four-bedroom units are 2,034 to 2,250 sq ft. Penthouses are 6,491 to 8,568 sq ft. Upside potential Launched in October 2014, Park Tower is 92% sold so far, with all the one- and two-bedroom units taken up. Only 40 units are still available, and these are mainly three- and four-bedroom units. The average price of units sold then was $2,251 psf, according to caveats lodged for the three months from October to December 2014. The average transacted price is now $2,610 psf, according to caveats lodged for the three months Kemmy Tan, CEO of M+S, is confident that units at Garden Tower will be quickly snapped up from April to June this year, which reflects a 16.4% price appreciation. Buyers of units at Marina One Residences can definitely look forward to capital appreciation, says Ong Choon Fah, CEO of Edmund Tie & Co (ET&Co). An all-time high of $3,157 psf was achieved at Marina One Residences in May last year when a 2,250 sq ft, four-bedroom unit on the 32nd level of Park Tower was sold for $7.1 million. This year, the highest psf price achieved was $3,148, when a 1,518 sq ft, three-bedroom unit on the 29th floor was sold for $4.78 million. About half the buyers at Marina One Residences are Singapore citizens, while the other half is a mix of foreigners and permanent residents. The majority of the foreign buyers are from Asia China, Malaysia, Indonesia and Hong Kong although there is also a small percentage from the US, Europe and the Middle East. Strong sales momentum Tan of M+S is confident that the Garden Tower units will be quickly snapped up at an average price of $2,700 to $2,800 psf. Demand is strong among Singapore buyers and foreign investors, she says. ET&Co s Ong is of the same opinion. About 77% of the units at Marina One Residences are one- and two-bedroom apartments, she notes. Given its reasonable pricing and location in the Marina Bay/CBD core, the project is assured of strong sales momentum, as one- and two-bedroom units are popular among owner-occupiers and investors, she adds. As the project is already completed, homebuyers can move in and investors can immediately put their units on the market for rent. Marina One Residences is part of the $7 billion Marina One integrated development that was completed last year. It includes two office towers East and West Towers with a total
EDGEPROP JULY 2, 2018 EP9 DISTRICT 1 M+S PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE All units at Garden Tower will have views of Marina Bay Sands and the sea The one-bedroom units with interiors by Takenouchi Webb are located at Garden Tower Marina One Residences will launch its second residential tower early this month of 1.88 million sq ft of Grade-A office space and a retail/f&b podium with 140,000 sq ft of space. Marina One Residences will be linked to three MRT stations: the future Shenton Way station on the upcoming Thomson-East Coast Line, the existing Downtown station on the Downtown Line, and the Marina Bay interchange station for three lines North-South and Circle Lines and the Thomson-East Coast Line. No new launches in the immediate future Within the Marina Bay-CBD-Tanjong Pagar neighbourhood, there are no new, launch-ready projects in the immediate future. The future pipeline, however, will see a new 83,959 sq ft white site on Marina View, off Straits Boulevard, released under the Reserve List of the 2H2018 Government Land Sales programme. It is estimated to yield 905 units, 540 hotel rooms and 21,528 sq ft of commercial space. The site will be available from October. V on Shenton, a 510-unit residential tower linked to the new UIC Building a redevelopment of the former UIC Building and completed last year is already 86% sold. Average prices have increased 17%, from $2,011 psf when the project was first launched in August 2012 to $2,353 psf this year. At the Tanjong Pagar Centre integrated development, a four-bedroom unit on the 58th floor of the 181-unit luxury condominium Wallich Residence was sold for $16 million, or a record-breaking $4,560 psf, according to a caveat lodged on June 4. A 1,765 sq ft, three-bedroom unit on the 53rd floor was recently sold for $6.36 million ($3,603 psf). Wallich Residence spans the 39th to 64th floors of Tanjong Pagar Centre and sits atop the 38-storey Guoco Tower. Developer M+S will continue offering the remaining three-bedroom units at Park Tower The project was completed last year. The average sale price at Wallich Residence has also gone up. When the project was first released for sale, the average sale price was $3,055 psf. In the first three months of 2018, it was $3,393 psf and today, it is $3,618 psf, according to caveats lodged from April to June so far. Premium from completion, community Most projects command a premium upon completion, says Ong of ET&Co. The completion of integrated developments such as Marina One helps shape the CBD. The retail podium features F&B offerings such as Majestic Restaurant, Nude Grill & Chill, Pizza Express and Wakanui Grill. Virgin Active has also taken up 26,000 sq ft space for its gym, and on weekends, it conducts yoga classes at the central square, or Heart, at Marina One. The two office towers East and West Towers are 80% leased. While 80% of the tenants at the East Tower have moved in, those at the West Tower are progressively moving in. There is a wide mix of tenants, and given the towers location in the CBD and the new downtown, there are many financial companies and MNCs, such as Japanese banking giant MUFG Bank, Australian investment bank Macquarie Bank, Swiss private bank Julius Baer, insurance firm Prudential, professional services company PwC and legal firm Rajah & Tann. Streaming media giant Netflix and oil and gas behemoth BP are also tenants. Co-working operator JustCo has taken up 40,000 sq ft at the East Tower and another 40,000 sq ft at the West Tower. When Marina One Residences and the office towers are fully occupied, M+S Tan reckons there will be a vibrant community of some 19,000 people. A community of this size in Marina Bay, together with the scale of the development, brings to life URA s plan for Marina Bay to be dynamic, mixed-use and sustainable district, she notes. E
EP10 EDGEPROP JULY 2, 2018 GAINS AND LOSSES Four-bedroom unit at The Claymore rakes in $3.4 mil profit THE EDGE SINGAPORE SAMUEL ISAAC CHUA/THE EDGE SINGAPORE BY TIMOTHY TAY The most profitable transaction in the week of June 12 to 19 was the sale of a four-bedroom unit at The Claymore in prime District 9. The 3,348 sq ft unit on the 14th floor fetched $8.8 million ($2,629 psf) when it was sold on June 14. The seller had bought the unit for $5.37 million ($1,604 psf) in 1995. The seller walked away with a $3.43 million (64%) profit, or an annualised profit of 2.2% over a 22-year holding period. The sale was the third transaction in the freehold condominium so far this year. This year, the most profitable transaction at The Claymore was the sale of a four-bedroom unit, also 3,348 sq ft, in May. The seller made a profit of $4.7 million (115%). The 22nd-floor unit was bought for $4.1 million (1,225 psf) in 2004 and changed hands for $8.8 million ($2,629 psf) on May 3. This translates into an annualised profit of 5.5% over a 14-year holding period. The Claymore, on Claymore Road, is a 146-unit condo that was completed in 1985. The second-most-profitable transaction for the week was a three-bedroom unit at 72 Grange, a freehold condo on Grange Road in prime District 10. The 4,306 sq ft unit on the fourth floor changed hands for $7.45 million ($1,730 psf) on June 13. The seller had bought it for $4.3 million ($999 psf) in a sub-sale in 1996. The seller thus made a profit of $3.15 million (73%), which translates into a 2.5% annualised profit over 22 years. This makes it two transactions at 72 Grange so far this year. The other transaction, also profitable, was for a 3,853 sq ft, two-bedroom unit, which fetched $7.3 million ($1,894 psf) when it was sold on April 12. The seventh-floor unit The most unprofitable sale for the week in review was that of a three-bedroom unit at 8 Raja had been bought for $4.3 million ($1,116 psf) in 2006. Thus, its previous owner walked away with a $3 million (70%) profit, or an annualised profit of 4.7% over 11 years. These two units at 72 Grange are the first to be sold since 2011. According to caveats lodged, no units changed hands between October 2011 and June this year. The most profitable sale at the development was in 2011, when a 3,627 sq ft two-bedder changed hands for $9.75 million ($2,688 psf). It had been purchased for $3.15 million ($868 psf) in 2005. The seller pocket- The Claymore, on Claymore Road, is a 146-unit freehold condominium that was completed in 1985 ed a $6.6 million (210%) profit, or an annualised profit of 20% over six years. The 18-unit condo was completed in 1995. The sale of a 4,413 sq ft penthouse unit at Regency Suites was the third-most-profitable transaction in the week in review. The previous owner of the 35th floor unit had purchased it for $2.25 million ($510 psf) in 2006. He sold it for $5.10 million ($1,156 psf) on June 14, thus reaping a $2.85 million (127%) profit, or an annualised profit of 7% over 12 years. This was also the most profitable sale at the 104- unit condo, where profits have ranged from $29,320 to $2.85 million in the past 12 years. The sale of a 2,024 sq ft unit at the freehold 8 Raja, located off Balestier Road, was the most unprofitable transaction in the week in review. The three-bedroom-plus-study unit fetched $2.68 million ($1,324 psf) when it was sold on June 13. It was purchased from the developer for $3 million ($1,482 psf) in 2013. Thus, the unit was sold at a $320,000 loss (-11%), or an annualised loss of -2.4% over four years. The 26-unit 8 Raja was completed in 2013. E URA, EDGEPROP Top 10 gains and losses from June 12 to 19 Most profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 The Claymore 9 3,348 June 14 2,629 Aug 1, 1995 1,604 3,429,000 64 2.2 22.9 2 72 Grange 10 4,306 June 13 1,730 March 25, 1996 999 3,150,000 73 2.5 22.2 3 Regency Suites 3 4,413 June 14 1,156 March 31, 2006 510 2,850,000 127 6.9 12.2 4 Astrid Meadows 10 2,745 June 13 1,749 April 1, 1995 1,020 2,000,000 71 2.3 23.2 5 Varsity Park Condominium 5 2,024 June 19 978 Dec 15, 2005 403 1,165,221 143 7.4 12.5 6 The Lucent 15 2,551 June 18 1,051 April 30, 2009 625 1,132,500 73 6.2 9.1 7 Grand Regalia 19 2,314 June 18 778 March 8, 2004 350 990,000 122 5.7 14.3 8 De Royale 12 1,259 June 18 1,380 March 4, 2004 629 946,000 119 5.7 14.3 9 Newton Suites 11 1,238 June 18 2,100 June 15, 2007 1,450 804,900 45 3.4 11.0 10 Kerrisdale 8 1,259 June 18 1,151 Feb 7, 2007 529 784,000 118 7.1 11.4 Non-profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 8 Raja 12 2,024 June 13 1,324 Nov 25, 2013 1,482 320,000 11 2.4 4.6 2 Paterson Linc 9 850 June 14 2,140 Aug 2, 2010 2,439 280,000 13 1.8 7.9 3 Reflections at Keppel Bay 4 1,055 June 14 1,564 Aug 27, 2007 1,769 216,000 12 1.1 10.8 4 The Boutiq 9 861 June 14 2,183 Nov 15, 2011 2,387 201,340 10 1.5 6.6 5 Loft @ Nathan 10 388 June 18 1,845 Oct 13, 2010 2,108 102,000 12 1.7 7.7 6 Ferraria Park Condominium 17 1,066 June 18 891 May 2, 2012 948 60,000 6 1.0 6.1 7 Regent Grove 23 1,163 June 13 705 Dec 9, 2011 741 42,000 5 0.8 6.5 8 Waterford Residence 9 1,819 June 13 1,467 Nov 15, 2010 1,490 41,112 2 0.2 7.6 9 Melville Park 18 1,345 June 13 687 Dec 12, 2012 717 40,000 4 0.8 5.5 10 The Hillford 21 398 June 13 1,130 Feb 12, 2014 1,202 28,800 6 1.4 4.3 Note: Computed based on URA caveat data as at June 26 for private non-landed houses transacted between June 12 and 19. The profit-and-loss computation excludes transaction costs such as stamp duties.
EDGEPROP JULY 2, 2018 EP11
EP12 EDGEPROP JULY 2, 2018 DONE DEALS River Valley home prices riding high BY BONG XIN YING Projects in the River Valley area in prime District 9 have seen a spike in resale transactions at higher prices. Nicholas Mak, executive director of ZACD Group, attributes it to two factors: the en bloc sale price achieved at Pacific Mansion on River Valley Close and the prices set at Martin Modern, a 450-unit, high-end condominium with twin 30-storey towers. In March, a joint venture between Singapore property developers GuocoLand and Hong Leong Investment Holdings paid $980 million to purchase Pacific Mansion en bloc. It is the SAMUEL ISAAC CHUA/THE EDGE SINGAPORE The latest transaction at Martin Place Residences was for a 1,421 sq ft, three-bedroom unit that changed hands for $2.95 million ($2,076 psf) second-biggest en bloc purchase in terms of absolute price so far. The land cost translates into $1,806 psf per plot ratio (ppr). Pacific Mansion is located just one street away from Martin Modern. GuocoLand had purchased the Martin Modern site in a government land sale (GLS) tender at a bid price of $595 million ($1,239 psf ppr) at end-june 2016. The psf price was surpassed by the $1,733 paid by Frasers Property, which paid $955.4 million for the GLS site on Jiak Kim Street fronting the Singapore River in December 2017. When Martin Modern was launched by GuocoLand in July last year, the average price of units sold was $2,207 psf. The average selling price has increased 25% to $2,759 psf, according to caveats lodged with URA Realis from April to June. The latest transactions were for two 764 sq ft two-bedders sold in early June: The one on the second level fetched $2.1 million ($2,750 psf) and the one on the fourth floor went for $2.01 million ($2,636 psf). Located adjacent to Martin Modern is the 302-unit freehold Martin Place Residences by Frasers Property. Resale prices at the project have increased since Martin Modern was launched. Launched in June 2009, Martin Place Residences was fully sold and completed in 2011. The latest transaction at Martin Place Residences was for a 1,421 sq ft, three-bedroom unit on the eighth floor that changed hands for $2.95 million ($2,076 psf), according to a caveat lodged in June. The previous owner had purchased the unit for $1.926 million ($1,355 psf) in July 2009 when Martin Place Residences was launched. Across the road from Martin Modern is the 88-unit, freehold Martin No 38 by SC Global Developments. The warehouse loft-inspired The average selling price at Martin Modern has increased from $2,207 psf in the first three months of its launch last year, to $2,759 psf currently, according to caveats lodged from April to June AGENT project was launched in July 2008 and completed in 2011. A 1,335 sq ft, three-bedroom unit on the sixth floor that was bought from the developer for $2.8 million ($2,097 psf) 10 years ago, changed hands last month for $3.3 million ($2,472 psf). When new projects are launched at above market prices, it will have a ripple effect on the resale prices in the rest of the neighbourhood, notes ZACD s Mak. As long as the market is buoyant, there will still be good demand for properties in the River Valley area, he adds. Next year, the area could see another spike in interest with the launch of the project on Jiak Kim Street. The site fronts the Singapore River and was formerly occupied by Zouk discotheque. Meanwhile, on St Thomas Walk, just off River Valley Road, the prospective launch of Bukit Sembawang Estates freehold 8 St Thomas, a 250-unit high-end condo, later this year, has also spurred interest in existing condos in the neighbourhood. Nearby is the 176-unit, freehold St Thomas Suites. The development was launched by Frasers Property in 2007, fully sold and completed in 2010. The latest transaction was for a 1,819 sq ft, three-bedroom unit that changed hands for $3.78 million ($2,078 psf) in June. The previous owner had purchased the unit in May 2010 for $3.64 million ($2,000 psf). The first owner had paid $3.11 million ($1,709 psf) for the unit when it was first launched 11 years ago. Across the road from St Thomas Suites is the 232-unit Espada, a freehold project that was completed in 2010. The latest transaction at the project was for a 355 sq ft, one-bedroom unit on the 22nd level that was sold for $988,000 ($2,781 psf). The unit fetched $941,194 ($2,650 psf) in 2010. E Residential transactions with contracts dated June 12 to 19 LOCALITIES DISTRICTS Singapore by postal district City & Southwest 1 to 8 Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 Balestier/MacPherson/Geylang 12 to 14 East Coast 15 and 16 Changi/Pasir Ris 17 and 18 Serangoon/Thomson 19 and 20 West 22 to 24 North 25 to 28 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE District 1 MARINA BAY RESIDENCES Condominium 99 years June 14, 2018 1,076 2,300,000-2,137 2010 Resale THE SAIL @ MARINA BAY Apartment 99 years June 18, 2018 1,313 2,350,000-1,790 2008 Resale District 2 CRAIG PLACE Apartment 99 years June 18, 2018 657 1,220,000-1,858 2000 Resale EON SHENTON Apartment 99 years June 14, 2018 1,066 1,800,000-1,689 2017 Sub Sale District 3 ARTRA Apartment 99 years June 13, 2018 829 1,707,900-2,061 Uncompleted New Sale ARTRA Apartment 99 years June 15, 2018 1,044 1,944,100-1,862 Uncompleted New Sale COMMONWEALTH TOWERS Condominium 99 years June 12, 2018 474 888,000-1,875 2017 Sub Sale MARGARET VILLE Apartment 99 years June 13, 2018 829 1,505,200-1,816 Uncompleted New Sale MARGARET VILLE Apartment 99 years June 14, 2018 463 964,000-2,083 Uncompleted New Sale MARGARET VILLE Apartment 99 years June 14, 2018 463 868,000-1,875 Uncompleted New Sale QUEENS Condominium 99 years June 14, 2018 1,184 1,530,000-1,292 2002 Resale QUEENS PEAK Condominium 99 years June 16, 2018 1,001 1,854,000-1,852 Uncompleted New Sale REGENCY SUITES Apartment Freehold June 14, 2018 4,413 5,100,000-1,156 2008 Resale THE CREST Condominium 99 years June 13, 2018 1,302 2,634,000-2,022 2017 Resale District 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years June 12, 2018 1,647 2,487,500-1,510 2004 Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE REFLECTIONS AT KEPPEL BAY Condominium 99 years June 14, 2018 1,055 1,650,000-1,564 2011 Resale District 5 BLUE HORIZON Condominium 99 years June 13, 2018 1,259 1,263,000-1,003 2005 Resale FABER HILLS Semi-Detached Freehold June 18, 2018 4,445 6,300,000-1,416 Unknown Resale MURANO Apartment Freehold June 12, 2018 1,550 1,450,000-935 2008 Resale ZEHNDER ROAD Semi-Detached Freehold June 18, 2018 3,380 4,750,000-1,405 1997 Resale SEAHILL Condominium 99 years June 14, 2018 786 1,058,000-1,346 2016 Resale THE ESTIVA Apartment Freehold June 13, 2018 1,001 1,360,000-1,359 2008 Resale THE INFINITI Condominium Freehold June 13, 2018 1,345 1,370,000-1,018 2008 Resale THE PARC CONDOMINIUM Condominium Freehold June 13, 2018 2,045 1,950,000-953 2010 Resale THE ROCHESTER Apartment 99 years June 13, 2018 861 1,265,000-1,469 2011 Resale THE VERANDAH RESIDENCES Apartment Freehold June 12, 2018 1,249 2,333,000-1,868 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 12, 2018 990 1,799,000-1,817 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 13, 2018 936 1,633,000-1,744 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 13, 2018 1,249 2,239,000-1,793 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 15, 2018 1,249 2,264,000-1,813 Uncompleted New Sale THE VERANDAH RESIDENCES Terrace Freehold June 15, 2018 2,174 3,567,000-1,641 Uncompleted New Sale THE VISION Condominium 99 years June 13, 2018 818 1,090,000-1,332 2014 Resale TWIN VEW* Apartment 99 years June 12, 2018 1,055 1,421,000-1,347 Uncompleted New Sale TWIN VEW Apartment 99 years June 12, 2018 1,055 1,321,000-1,252 Uncompleted New Sale TWIN VEW Apartment 99 years June 12, 2018 1,055 1,286,000-1,219 Uncompleted New Sale VARSITY PARK CONDOMINIUM Condominium 99 years June 19, 2018 1,615 1,750,000-1,084 2008 Resale VARSITY PARK CONDOMINIUM Condominium 99 years June 19, 2018 2,024 1,980,000-978 2008 Resale WESTCOVE CONDOMINIUM Condominium 99 years June 14, 2018 1,098 930,500-848 1998 Resale District 7 DUO RESIDENCES Apartment 99 years June 19, 2018 646 1,380,000-2,137 2017 Sub Sale District 8 8 FARRER SUITES Apartment Freehold June 19, 2018 624 1,232,900-1,975 2015 Resale KENTISH COURT Apartment 99 years June 14, 2018 1,098 1,060,000-965 1999 Resale KERRISDALE Condominium 99 years June 18, 2018 1,259 1,450,000-1,151 2005 Resale District 9 8 @ MOUNT SOPHIA Condominium 103 years June 12, 2018 969 1,270,000-1,311 2007 Resale 8 HULLET Apartment Freehold June 16, 2018 657 2,248,380-3,424 Uncompleted New Sale ESPADA Apartment Freehold June 12, 2018 355 988,000-2,781 2013 Resale LANGSTON VILLE Apartment 999 years June 13, 2018 936 1,480,000-1,580 2000 Resale MARTIN NO 38 Apartment Freehold June 18, 2018 1,335 3,300,000-2,472 2011 Resale ORCHARD SCOTTS Condominium 99 years June 18, 2018 936 1,655,000-1,767 2007 Resale PATERSON LINC Apartment Freehold June 14, 2018 850 1,820,000-2,140 2010 Resale ST THOMAS SUITES Condominium Freehold June 13, 2018 1,819 3,780,000-2,078 2010 Resale THE BOUTIQ Apartment Freehold June 14, 2018 861 1,880,000-2,183 2014 Resale THE CLAYMORE Condominium Freehold June 14, 2018 3,348 8,800,000-2,629 1985 Resale WATERFORD RESIDENCE Apartment 999 years June 13, 2018 1,819 2,668,888-1,467 2010 Resale WILKIE 80 Apartment Freehold June 13, 2018 904 1,380,000-1,526 2010 Resale District 10 120 GRANGE Apartment Freehold June 14, 2018 570 1,811,000-3,174 Uncompleted New Sale 120 GRANGE Apartment Freehold June 15, 2018 678 2,164,000-3,191 Uncompleted New Sale 120 GRANGE Apartment Freehold June 16, 2018 678 2,154,000-3,176 Uncompleted New Sale 120 GRANGE Apartment Freehold June 17, 2018 570 1,820,000-3,190 Uncompleted New Sale ASTRID MEADOWS Condominium Freehold June 13, 2018 2,745 4,800,000-1,749 1990 Resale
EDGEPROP JULY 2, 2018 EP13 DONE DEALS Residential transactions with contracts dated June 12 to 19 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE BALMORAL HEIGHTS Apartment Freehold June 12, 2018 1,163 2,050,000-1,763 2004 Resale CLUNY PARK RESIDENCE Condominium Freehold June 18, 2018 1,959 5,280,000-2,695 2016 Resale CYAN Condominium Freehold June 13, 2018 678 1,350,000-1,991 2014 Resale FONTANA HEIGHTS Condominium Freehold June 12, 2018 4,112 6,338,000-1,541 1985 Resale KINGSVILLE Semi-Detached 102 years June 13, 2018 2,605 3,280,000-1,259 1999 Resale LATITUDE Condominium Freehold June 18, 2018 1,324 2,870,000-2,168 2010 Resale LEEDON RESIDENCE Condominium Freehold June 13, 2018 6,125 12,800,000-2,090 2015 Resale LOFT @ NATHAN Apartment Freehold June 18, 2018 388 715,000-1,845 2014 Resale STEVENS CLOSE Semi-Detached Freehold June 12, 2018 4,359 7,960,000-1,827 1984 Resale GRANGE ROAD Apartment Freehold June 13, 2018 4,306 7,450,000-1,730 1995 Resale MOUNT SINAI DRIVE Semi-Detached 999 years June 14, 2018 3,380 4,980,000-1,475 Unknown Resale ONE DRAYCOTT Apartment Freehold June 16, 2018 1,345 3,497,000-2,599 Uncompleted New Sale PARKSUITES Apartment 110 years June 17, 2018 700 1,514,560-2,165 Uncompleted New Sale RV RESIDENCES Condominium 999 years June 12, 2018 861 1,940,000-2,253 2015 Resale THE TENERIFFE Terrace 99 years June 14, 2018 3,122 2,730,000-875 2003 Resale District 11 CUBE 8 Condominium Freehold June 13, 2018 1,475 2,080,000-1,410 2013 Resale CUBE 8 Condominium Freehold June 14, 2018 560 935,000-1,670 2013 Resale LA SUISSE Terrace 999 years June 14, 2018 1,873 3,280,000-1,756 1993 Resale LINCOLN SUITES Condominium Freehold June 18, 2018 1,561 2,980,000-1,909 2014 Resale L VIV Apartment Freehold June 14, 2018 657 1,500,000-2,284 2013 Resale MEDGE Apartment Freehold June 14, 2018 463 715,000-1,545 2007 Resale NEWTON SUITES Apartment Freehold June 18, 2018 1,238 2,600,000-2,100 2007 Resale NOVENA SUITES Apartment Freehold June 19, 2018 797 1,440,000-1,808 2004 Resale PAVILION 11 Condominium Freehold June 12, 2018 1,485 2,400,000-1,616 2009 Resale SOLEIL @ SINARAN Condominium 99 years June 19, 2018 958 1,628,888-1,700 2011 Resale THOMSON 800 Condominium Freehold June 19, 2018 1,399 1,970,000-1,408 1999 Resale District 12 8 RAJA Apartment Freehold June 13, 2018 2,024 2,680,000-1,324 2013 Resale BEACON HEIGHTS Condominium 999 years June 12, 2018 926 1,130,000-1,221 2012 Resale BEACON HEIGHTS Condominium 999 years June 19, 2018 893 1,180,000-1,321 2012 Resale DE ROYALE Condominium Freehold June 18, 2018 1,259 1,738,000-1,380 2006 Resale D LOTUS Apartment Freehold June 14, 2018 807 990,000-1,226 2008 Resale EASTPAC BUILDING Apartment Freehold June 12, 2018 1,851 1,600,000-864 1983 Resale EIGHT RIVERSUITES Condominium 99 years June 12, 2018 700 1,030,000-1,472 2016 Resale GLOBAL VILLE Apartment Freehold June 18, 2018 1,184 1,244,000-1,051 2000 Resale ST. FRANCIS ROAD Terrace Freehold June 12, 2018 2,110 2,290,000-1,086 Unknown Resale ONE ST MICHAEL S Condominium Freehold June 18, 2018 1,249 1,680,000-1,345 2009 Resale PARC HAVEN Apartment Freehold June 13, 2018 1,238 1,530,000-1,236 2004 Resale RIVERBAY Apartment 999 years June 18, 2018 657 930,000-1,416 2014 Resale THE VIRIDIAN Apartment Freehold June 13, 2018 893 1,220,000-1,366 2015 Resale TRELLIS TOWERS Condominium Freehold June 18, 2018 1,141 1,650,000-1,446 2000 Resale District 13 KEE CHOE AVENUE Semi-Detached Freehold June 14, 2018 2,217 3,000,000-1,356 1999 Resale THE VENUE RESIDENCES Apartment 99 years June 13, 2018 1,152 1,700,000-1,476 2017 Resale District 14 33 RESIDENCES Apartment Freehold June 15, 2018 700 1,168,000-1,669 Uncompleted New Sale 33 RESIDENCES Apartment Freehold June 15, 2018 732 1,184,840-1,619 Uncompleted New Sale 33 RESIDENCES Apartment Freehold June 17, 2018 1,033 1,548,000-1,498 Uncompleted New Sale AVANT RESIDENCES Apartment 99 years June 12, 2018 484 760,000-1,569 2012 Resale CENTRAL GROVE Condominium 99 years June 19, 2018 1,173 1,170,000-997 2001 Resale EUHABITAT Condominium 99 years June 18, 2018 1,141 1,300,000-1,139 2015 Resale EUHABITAT Condominium 99 years June 19, 2018 527 673,000-1,276 2015 Resale GUILLEMARD EDGE Apartment Freehold June 13, 2018 517 725,000-1,403 2014 Resale LA FLEUR Apartment Freehold June 13, 2018 420 550,000-1,310 2014 Resale NICOLE GREEN Apartment Freehold June 13, 2018 1,270 1,450,000-1,142 2002 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years June 15, 2018 1,163 1,988,000-1,710 Uncompleted New Sale PARK PLACE RESIDENCES AT PLQ Apartment 99 years June 17, 2018 1,087 1,899,000-1,747 Uncompleted New Sale SIMS GREEN Apartment 99 years June 13, 2018 1,238 1,000,000-808 2003 Resale SIMS MEADOWS Apartment Freehold June 13, 2018 969 985,000-1,017 2002 Resale SIMS URBAN OASIS Condominium 99 years June 12, 2018 441 751,000-1,702 2017 Sub Sale SIMS URBAN OASIS Condominium 99 years June 16, 2018 1,066 1,676,200-1,573 2017 New Sale SIXTEEN35 RESIDENCES Apartment 99 years June 13, 2018 624 919,000-1,472 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years June 15, 2018 797 1,192,660-1,497 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years June 16, 2018 667 988,000-1,480 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years June 16, 2018 624 925,000-1,482 Uncompleted New Sale SUITES@CHANGI Apartment Freehold June 13, 2018 409 566,000-1,384 2012 Resale THE ARIZON Apartment Freehold June 12, 2018 1,765 1,080,000-612 2010 Resale TORIEVILLE Apartment Freehold June 14, 2018 1,023 860,000-841 1994 Resale WING FONG MANSIONS Apartment Freehold June 12, 2018 1,227 945,000-770 1997 Resale District 15 38 I SUITES Apartment Freehold June 13, 2018 506 848,000-1,676 2014 Resale AXIS @ SIGLAP Apartment Freehold June 13, 2018 936 1,260,000-1,345 2009 Resale BLU CORAL Condominium Freehold June 12, 2018 1,087 1,240,000-1,141 2009 Resale CARPMAEL THIRTY-EIGHT Apartment Freehold June 16, 2018 1,259 2,072,824-1,646 Uncompleted New Sale COASTARINA Apartment Freehold June 12, 2018 840 900,000-1,072 2006 Resale E-SPACE Apartment Freehold June 12, 2018 818 990,000-1,210 2008 Resale FRANKEL ESTATE Terrace Freehold June 12, 2018 2,863 4,100,000-1,430 Unknown Resale FRANKEL ESTATE Semi-Detached Freehold June 18, 2018 4,209 5,500,000-1,308 1956 Resale HERITAGE EAST Apartment Freehold June 14, 2018 398 585,000-1,469 2012 Resale MANGIS ROAD Terrace Freehold June 14, 2018 1,292 1,850,000-1,430 1950 Resale EVERITT ROAD Apartment 999 years June 14, 2018 1,076 1,190,000-1,106 Unknown Resale LORONG H TELOK KURAU Detached Freehold June 18, 2018 7,998 8,680,000-1,086 2001 Resale LORONG 106 CHANGI Terrace Freehold June 18, 2018 1,410 2,650,000-1,884 2001 Resale BOSCOMBE ROAD Semi-Detached Freehold June 18, 2018 2,734 5,800,000-2,123 2015 Resale KARIKAL LANE Terrace Freehold June 18, 2018 1,421 2,318,000-1,628 Unknown Resale NEPTUNE COURT Apartment 99 years June 12, 2018 1,636 1,640,000-1,002 1975 Resale ONE AMBER Condominium Freehold June 18, 2018 1,701 3,135,000-1,843 2010 Resale ONE EIGHTIES RESIDENCES Apartment Freehold June 18, 2018 1,281 1,838,000-1,435 2015 Resale SEASIDE RESIDENCES Apartment 99 years June 14, 2018 560 1,034,000-1,847 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years June 15, 2018 506 955,000-1,888 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years June 15, 2018 506 982,000-1,941 Uncompleted New Sale SUITES @ EASTCOAST Condominium Freehold June 13, 2018 355 520,000-1,464 2012 Resale SUITES @ EASTCOAST Condominium Freehold June 14, 2018 366 565,000-1,544 2012 Resale THE GERANIUM Condominium Freehold June 19, 2018 990 1,148,000-1,159 2006 Resale THE LUCENT Apartment Freehold June 18, 2018 2,551 2,680,000-1,051 2011 Resale THE SHORE RESIDENCES Condominium 103 years June 12, 2018 872 1,410,000-1,617 2014 Resale THE SOUND Condominium Freehold June 13, 2018 829 1,350,000-1,629 2013 Resale TIVOLI GRANDE Apartment Freehold June 13, 2018 904 985,000-1,089 2012 Resale WATER PLACE Condominium 99 years June 14, 2018 1,227 1,830,000-1,491 2004 Resale District 16 BEDOK RESIDENCES Apartment 99 years June 13, 2018 527 855,000-1,621 2015 Resale COSTA DEL SOL Condominium 99 years June 18, 2018 947 1,368,000-1,444 2003 Resale COUNTRY PARK CONDOMINIUM Condominium Freehold June 14, 2018 1,335 1,650,000-1,236 2003 Resale D MANOR Terrace 99 years June 14, 2018 2,723 1,790,000-657 2000 Resale EAST COAST RESIDENCES Apartment Freehold June 14, 2018 893 1,110,000-1,242 2011 Resale GRANDEUR PARK RESIDENCES Condominium 99 years June 12, 2018 893 1,347,112-1,508 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years June 12, 2018 1,238 1,923,000-1,553 Uncompleted New Sale OPTIMA @ TANAH MERAH Condominium 99 years June 12, 2018 1,195 1,550,000-1,297 2012 Resale SEA PAVILION RESIDENCES Apartment Freehold June 17, 2018 904 1,605,000-1,775 Uncompleted New Sale THE BAYSHORE Condominium 99 years June 12, 2018 926 926,000-1,000 1996 Resale WATERFRONT WAVES Condominium 99 years June 13, 2018 1,292 1,543,888-1,195 2011 Resale District 17 BLUWATERS Apartment 946 years June 14, 2018 2,217 1,785,000-805 2007 Resale FERRARIA PARK CONDOMINIUM Condominium Freehold June 12, 2018 1,378 1,320,000-958 2009 Resale FERRARIA PARK CONDOMINIUM Condominium Freehold June 18, 2018 1,066 950,000-891 2009 Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE HEDGES PARK CONDOMINIUM Condominium 99 years June 14, 2018 1,076 920,000-855 2015 Resale JLB RESIDENCES Apartment 946 years June 18, 2018 1,615 1,438,000-891 2008 Resale LOYANG VILLAS Terrace 99 years June 14, 2018 2,713 1,368,000-504 1996 Resale PARC OLYMPIA Condominium 99 years June 19, 2018 1,163 1,030,000-886 2015 Resale THE INFLORA Condominium 99 years June 14, 2018 463 530,000-1,145 2016 Resale District 18 COCO PALMS Condominium 99 years June 13, 2018 753 980,000-1,301 2018 Sub Sale COCO PALMS Condominium 99 years June 18, 2018 753 790,000-1,048 2018 Sub Sale COCO PALMS Condominium 99 years June 18, 2018 463 615,000-1,329 2018 Sub Sale D NEST Condominium 99 years June 13, 2018 936 1,100,000-1,175 2017 Resale MELVILLE PARK Condominium 99 years June 13, 2018 1,345 925,000-687 1996 Resale MELVILLE PARK Condominium 99 years June 13, 2018 1,475 896,000-608 1996 Resale RIPPLE BAY Condominium 99 years June 14, 2018 538 580,000-1,078 2015 Resale SAVANNAH CONDOPARK Condominium 99 years June 14, 2018 990 818,000-826 2005 Resale THE TAPESTRY Condominium 99 years June 12, 2018 441 640,710-1,452 Uncompleted New Sale THE TAPESTRY Condominium 99 years June 14, 2018 603 881,280-1,462 Uncompleted New Sale THE TAPESTRY Condominium 99 years June 15, 2018 474 700,280-1,479 Uncompleted New Sale THE TAPESTRY Condominium 99 years June 15, 2018 1,130 1,375,200-1,217 Uncompleted New Sale THE TAPESTRY Condominium 99 years June 16, 2018 1,485 1,720,000-1,158 Uncompleted New Sale THE TAPESTRY Condominium 99 years June 16, 2018 441 624,780-1,416 Uncompleted New Sale THE TROPICA Condominium 99 years June 14, 2018 1,507 1,428,000-948 2000 Resale WATERVIEW Condominium 99 years June 13, 2018 1,733 1,470,000-848 2014 Resale District 19 AFFINITY AT SERANGOON Apartment 99 years June 12, 2018 1,453 2,355,000-1,621 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years June 13, 2018 474 724,000-1,529 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years June 14, 2018 1,152 1,847,000-1,604 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years June 15, 2018 474 721,000-1,522 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years June 16, 2018 474 790,000-1,668 Uncompleted New Sale CHUAN GREEN Terrace 99 years June 18, 2018 1,991 2,150,000-1,077 2003 Resale EVERGREEN PARK Apartment 99 years June 19, 2018 1,173 790,000-673 1999 Resale GOLDEN HILL ESTATE Semi-Detached Freehold June 13, 2018 3,617 3,700,000-1,022 1976 Resale GRAND REGALIA Apartment Freehold June 18, 2018 2,314 1,800,000-778 2004 Resale JANSEN SPRING Apartment 999 years June 12, 2018 1,109 970,000-875 2001 Resale KOVAN REGENCY Condominium 99 years June 14, 2018 775 1,188,000-1,533 2015 Resale PAYA LEBAR CRESCENT Semi-Detached Freehold June 12, 2018 3,789 3,638,800-961 1987 Resale NANYANG PARK Terrace 999 years June 19, 2018 2,347 3,780,000-1,611 Unknown Resale RIVERCOVE RESIDENCES EC 99 years June 14, 2018 958 929,600-970 Uncompleted New Sale RIVERCOVE RESIDENCES EC 99 years June 15, 2018 958 1,003,500-1,047 Uncompleted New Sale RIVERCOVE RESIDENCES EC 99 years June 16, 2018 1,109 1,056,000-952 Uncompleted New Sale RIVERSAILS Condominium 99 years June 13, 2018 1,367 1,418,000-1,037 2016 Resale RIVERVALE CREST Apartment 99 years June 14, 2018 1,195 915,000-766 2002 Resale SERANGOON GARDEN ESTATE Semi-Detached 999 years June 13, 2018 2,648 3,600,000-1,358 1997 Resale STADIA Apartment Freehold June 13, 2018 560 725,000-1,295 2010 Resale TAI HWAN GARDEN Terrace Freehold June 13, 2018 2,605 3,000,000-1,154 1979 Resale TERRASSE Condominium 99 years June 13, 2018 893 1,030,000-1,153 2014 Resale THE AMBIENCE Detached 999 years June 19, 2018 3,670 2,038,888-555 2009 Resale THE FLORIDA EC 99 years June 14, 2018 1,292 920,000-712 2000 Resale THE GARDEN RESIDENCES Apartment 99 years June 13, 2018 452 726,400-1,607 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years June 13, 2018 969 1,475,300-1,523 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years June 15, 2018 689 1,089,500-1,582 Uncompleted New Sale THE MINTON Condominium 99 years June 12, 2018 700 740,000-1,058 2013 Resale THE MINTON Condominium 99 years June 18, 2018 980 978,000-998 2013 Resale THE QUARTZ Condominium 99 years June 12, 2018 1,206 1,095,000-908 2009 Resale THE SCALA Apartment 99 years June 13, 2018 850 1,206,000-1,418 2013 Resale TIVOLI GARDENS Terrace 99 years June 12, 2018 1,615 1,600,000-991 1998 Resale WATERTOWN Apartment 99 years June 13, 2018 603 760,000-1,261 2017 Sub Sale WATERTOWN Apartment 99 years June 18, 2018 807 1,138,000-1,410 2017 Sub Sale District 20 BISHAN LOFT EC 99 years June 18, 2018 1,173 1,388,000-1,183 2003 Resale HORIZON GREEN Terrace 99 years June 13, 2018 3,337 2,100,000-629 2003 Resale HORIZON GREEN Terrace 99 years June 19, 2018 4,187 2,250,000-537 2003 Resale MING PARK Semi-Detached Freehold June 13, 2018 3,531 4,650,000-1,319 1978 Resale JALAN KHAMIS Semi-Detached Freehold June 14, 2018 2,347 3,000,000-1,280 Unknown Resale NUOVO EC 99 years June 14, 2018 1,389 1,300,000-936 2004 Resale SEASONS VIEW Condominium 99 years June 13, 2018 1,152 1,320,000-1,146 2000 Resale THE GARDENS AT BISHAN Condominium 99 years June 19, 2018 883 980,000-1,110 2004 Resale District 21 FLORIDIAN Condominium Freehold June 12, 2018 1,668 2,830,000-1,696 2012 Resale HILLVIEW GREEN Condominium 999 years June 12, 2018 1,012 1,020,000-1,008 1998 Resale SPRINGDALE CONDOMINIUM Condominium 999 years June 18, 2018 926 1,100,000-1,188 1998 Resale THE HILLFORD Apartment 60 years June 13, 2018 398 450,000-1,130 2016 Resale District 22 J GATEWAY Condominium 99 years June 14, 2018 700 1,270,000-1,815 2016 Resale THE FLORAVALE EC 99 years June 18, 2018 1,399 880,000-629 2000 Resale District 23 HILLSTA Terrace 99 years June 18, 2018 3,358 2,666,887-794 2016 Resale NORTHVALE Apartment 99 years June 12, 2018 1,668 1,100,000-659 1998 Resale PARK NATURA Condominium Freehold June 13, 2018 1,442 1,646,000-1,141 2011 Resale PAVILION PARK Terrace Freehold June 12, 2018 1,615 2,680,000-1,659 2014 Resale REGENT GROVE Condominium 99 years June 13, 2018 1,163 820,000-705 2000 Resale THE QUINTET EC 99 years June 19, 2018 2,400 1,525,000-635 2006 Resale THE TENNERY Apartment 99 years June 18, 2018 614 720,000-1,174 2014 Resale District 25 LA CASA EC 99 years June 12, 2018 1,259 915,000-727 2008 Resale NORTHWAVE EC 99 years June 12, 2018 1,119 940,000-840 Uncompleted New Sale NORTHWAVE EC 99 years June 13, 2018 1,001 855,000-854 Uncompleted New Sale District 26 CASTLE GREEN Condominium 99 years June 15, 2018 947 800,000-845 1997 Resale THE BROOKS I Apartment Freehold June 13, 2018 818 1,126,800-1,377 2016 Resale THE SPRINGSIDE Terrace Freehold June 14, 2018 1,851 2,600,000-1,408 1997 Resale District 27 ORCHID PARK CONDOMINIUM Condominium 99 years June 18, 2018 1,615 1,158,000-717 1994 Resale PARC LIFE EC 99 years June 15, 2018 1,066 931,000-874 2018 New Sale SEMBAWANG SPRINGS ESTATE Terrace Freehold June 19, 2018 1,701 1,780,000-1,045 Unknown Resale THE MILTONIA RESIDENCES Condominium 99 years June 12, 2018 2,077 1,680,000-809 2014 Resale THE MILTONIA RESIDENCES Condominium 99 years June 14, 2018 1,518 1,280,000-843 2014 Resale THE SHAUGHNESSY Terrace 99 years June 19, 2018 3,498 1,580,000-452 2006 Resale WATERCOVE Terrace Freehold June 16, 2018 3,466 2,400,000-692 Uncompleted New Sale WATERCOVE Terrace Freehold June 16, 2018 3,466 2,400,000-692 Uncompleted New Sale WATERCOVE Semi-Detached Freehold June 17, 2018 3,843 2,600,000-677 Uncompleted New Sale District 28 CABANA Terrace 103 years June 19, 2018 2,917 1,880,880-645 2013 Resale ESTE VILLA Terrace Freehold June 14, 2018 3,810 2,620,000-688 2013 Resale GRANDE VISTA Condominium 999 years June 18, 2018 1,636 1,750,000-1,070 1993 Resale NIM COLLECTION Terrace 99 years June 15, 2018 1,701 2,888,888-1,699 Uncompleted New Sale PARC BOTANNIA Condominium 99 years June 17, 2018 667 931,000-1,395 Uncompleted New Sale SUNRISE VILLA Terrace Freehold June 14, 2018 2,583 2,950,000-1,142 1988 Resale THE GREENWICH Condominium 99 years June 14, 2018 1,227 1,600,000-1,304 2014 Resale DISCLAIMER: Source: URA Realis. Updated June 26, 2018. The Edge Publishing Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein. EC stands for executive condominium *Not all caveats reflected, owing to overwhelming number of transactions
EP14 EDGEPROP JULY 2, 2018 DEAL WATCH Two-bedder at Sennett Residence going for $1.6 mil BY CHARLENE CHIN A partially furnished two-bedroom unit at Sennett Residence in District 13 is up for sale at $1.6 million ($1,190 psf). The 1,345 sq ft unit is on the ground floor and comes with a large patio, according to Ruth Lim, associate marketing manager at Propnex Realty, who is marketing the unit. The owner is a local who is looking to downsize to a smaller unit within the Kallang neighbourhood. She purchased the unit at Sennett Residence in 2014 at $1.55 million ($1,152 psf). Developed by Tuan Sing Holdings, Sennett Residence was launched in 2013. The 99-year leasehold development comprises four 19-storey blocks with a total of 332 residential units and three shops. The unit that is up for sale is a three-minute walk to the Potong Pasir MRT station. It is suitable for people who enjoy living in a quiet neighbourhood, Lim says. There is also a bus stop near the side entrance of the development, she adds. In May alone, there were three transactions at Sennett Residence. The most recent one was that of a four-bedroom unit on the 16th floor that was sold for $4.52 million ($1,389 psf). This was preceded by the sale of a one-bedroom unit on the fifth floor for $0.92 million ($1,613 psf) and the sale of a two-bedroom unit on the 15th floor for $1.3 million ($1,510 psf). In February, a unit between 1,300 and 1,400 sq ft was rented out for $4,300. Such units at the development can fetch monthly rents of $3,700 to $4,800, according to URA data. E Residents can enjoy views of the city skyline at Sennett Residence s pool deck PICTURES: RUTH LIM/PROPNEX REALTY CONTRACT DATE (2018) AREA (SQ FT) PRICE ($) PRICE ($ PSF) May 24 3,251 4,515,000 1,389 May 18 570 920,000 1,613 May 8 861 1,300,000 1,510 April 12 506 828,888 1,638 March 29 829 1,200,000 1,448 Recent rental contracts for 1,300 to 1,400 sq ft units at Sennett Residence TABLES: URA, EDGEPROP Recent transactions at Sennett Residence Sennett Residence is a 99-year leasehold development comprising four 19-storey blocks with 335 units LEASE DATE MONTHLY RENT ($) February 2018 4,300 November 2017 4,500 June 2017 4,500