Launched in November 2013, the 260-unit The Creek @ Bukit located on Toh Tuck Road is 92% sold, as at end-September. The condominium is Chiu Teng Group’s maiden residential project and a redevelopment of the former Green Lodge, purchased in September 2012 for $191.9 million.
Scheduled for completion by end-September, the low-rise development contains eight five-storey blocks sitting on a 151,072 sq ft elevated, freehold site. In keeping with its name, the project features a man-made creek meandering around the blocks. Other water features include cascading waterfalls and swimming pools, including a 50m lap pool.
Variety of residences
The project has a wide range of unit types, from one- to four-bedroom units, penthouses and maisonettes. At least 58% of the units in the project are one- and two bedroom types measuring 441 to 850 sq ft. Some units come with private enclosed space; others feature a study.
Three-bedroom apartments, including maisonettes, make up about 30% of the units and measure 926 to 1,916 sq ft. Four-bedroom units and maisonettes, sized from 1,238 to 1,894 sq ft, account for about 10% of the remaining units. Penthouses are also a mix of two and four-bedroom types. Two-bedroom plus- study penthouses measure 1,184 to 1,206 sq ft; four-bedroom penthouses measure 1,668 to 2,121 sq ft.
Ground floor units come with private enclosed space and a 5m ceiling, with some having direct access to the swimming pool from the living room. Penthouses are designed with loft-style, double-volume ceiling height of 5m. This gives residents the option of creating their own loft spaces. As for the intermediate units, the ceiling height is around 3.6m.
Catalyst to surge in sales
Sales at The Creek @ Bukit had been relatively steady over the last few years until five months ago. This was because the land parcel next door received 24 bids at the close of the government land tender in April.
Listed Malaysian property giant S P Setia won the site with a bid price of $265 million, or $939 psf per plot ratio. S P Setia plans to build a 327- unit, five-storey condo project on the 201,287 sq ft, 99-year leasehold site. The project is expected to be launched in 1H2018.
Only 20 units are available for sale at The Creek @ Bukit. Most of these are relatively large units — for instance, three-bedroom maisonettes measuring 1,615 to 1,722 sq ft, which come with two dedicated parking spaces in the basement carpark. Chiu Teng Group is offering cash discounts of up to $120,000 for selected three-bedroom maisonette units.
The remaining units are two-bedroom penthouses measuring 1,184 to 1,206 sq ft, with prices starting from $1.4 million; three-bedroom maisonettes and four-bedroom penthouses measuring 1,668 to 1,711 sq ft are priced from $2.3 million.
Sought-after area
Toh Tuck Road is a sought-after residential neighbourhood within the prime Bukit Timah area of District 21. The Creek @ Bukit is near the Bukit Batok and Bukit Timah Nature Reserves, and is a 10-minute walk from the Beauty World MRT station on the Downtown Line. It is accessible via the Pan Island and Bukit Timah Expressways. Top schools within a short drive from The Creek @ Bukit include Pei Hwa Primary, Methodist Girls’ School, Ngee Ann Polytechnic and SIM University.
Recent transactions at The Creek @ Bukit ranged from $1.27 million ($1,757 psf) for a 721 sq ft, two-bedroom unit on the third level, to a three-bedroom, 1,604 sq ft maisonette on the ground-floor that fetched $2.16 million ($1,346 psf), based on caveats lodged in September.
This article appeared in the EdgeProp Pullout, Issue 799 (Oct 2, 2017)