Allgreen Properties to launch Juniper Hill on July 13
By Amy Tan
/ EdgeProp Singapore |
The 115-unit, exclusive residential development on Ewe Boon Road is the second project to be launched under the developer’s Bukit Timah Collection. A first phase of 52 units will be released for sale.
In May, the second level of Tanglin Mall on Tanglin Road morphed into a haven for shoppers. Scoop Wholefoods, a multi-concept organic store from Australia, opened its first international outlet here in Singapore. It carries a wide selection of organic foods from natural teas, bottled juices, flavoured kombucha, kefir to kimchi as well as a wide range of organic chocolates, nuts, herbs and spices. There is even a beauty corner and a DIY corner where you can make your own household cleaning products.
In contrast to the buzz at Scoop Wholefoods with its “scoop, weigh and pay” concept, the unit next door has an exclusive vibe, designed like a posh hotel reception complete with a uniformed concierge. It holds the sales gallery and show suites of Juniper Hill, a luxurious freehold development by Allgreen Properties, which is part of the Kuok Group, controlled by billionaire Robert Kuok, the richest man in Malaysia with a net worth of US$12.8 billion ($17.4 billion). Other business entities under the Kuok Group include Kerry Properties and Shangri-La Hotels and Resorts.
Allgreen also owns Tanglin Mall and Great World City, an integrated development with a shopping mall, office tower and serviced apartments, which will be connected to the upcoming Great World MRT Station on the Thomson-East Coast Line.
Juniper Hill's sales gallery (Photo Credit: Albert Chua/EdgeProp Singapore)
First property sales gallery in a mall
Juniper Hill’s sales gallery and show suites is the first for a property development to be housed within a prime shopping mall in Singapore. The 6,700 sq ft sales gallery was fitted out at a cost of $1.5 million. Besides the reception, there is a theatrette, meeting area and two show suites. “Given its proximity to Juniper Hill, Tanglin Mall is an ideal place to have our sales gallery as potential buyers will be able to appreciate the convenience and vibrant lifestyle that Juniper Hill has to offer,” said Lee Yew Kwung, CEO of Allgreen, in a press statement.
Six units at Juniper Hill have already been sold at a VIP preview held on May 30, at prices ranging from $1.62 million ($2,782 psf) to $4.92 million ($2,703 psf). The average price of units sold was $2,787 psf. Allgreen intends to launch the project on July 13.
Juniper Hill, a redevelopment of the former Crystal Tower, is the second of three upscale residential projects under Allgreen’s Bukit Timah Collection. Located on Ewe Boon Road, just off Bukit Timah Road in prime District 10, Juniper Hill has 115 units within a 12-storey residential block.
For price trends, recent transactions, other project info, check out the Juniper Hill project details page
Allgreen's Fourth Avenue Residences (Photo Credit: Samuel Isaac Chua/EdgeProp Singapore)
The first project to be launched as part of the Bukit Timah Collection was the 476-unit, 99-year leasehold Fourth Avenue Residences, which debuted in January. Located on Fourth Avenue, just off Bukit Timah Road, the project is also adjacent to the Sixth Avenue MRT Station on the Downtown Line.
To date, 92 units at Fourth Avenue Residences have been sold. Unit sizes range from 474 sq ft for a one-bedroom unit to 1,496 sq ft for a four-bedroom-plus-study apartment. Prices of units sold were from $1.1 million ($2,331 psf) to $3.6 million ($2,415 psf). Based on caveats lodged, units have been sold at an average of $2,411 psf to date.
Upscale offering
Unlike Fourth Avenue Residences, Juniper Hill does not have any one-bedroom units. Typical units are a mix of two- and three-bedroom apartments with sizes ranging from 581 to 1,109 sq ft. The top-floor units – considered its Signature Series – comprise just five units of four- or five-bedroom apartments, with sizes ranging from 1,819 to 2,217 sq ft.
The 1,819 sq ft, four-bedroom unit at Juniper Hill has already been sold during the VIP preview at the end of May at $4.917 million. The buyer is said to be a Singaporean family buying for their own use.
The living and dining area in a three-bedroom unit at Juniper Hill (Photo Credit: Albert Chua/EdgeProp Singapore)
The other five units sold at the VIP preview were two-bedroom and two-bedroom premium units of 581 to 721 sq ft, at prices from $1.62 million.
For the upcoming launch on July 13, Allgreen will be releasing 52 units for sale at prices ranging from $2,600 to $2,900 psf. While the smallest unit will start from $1.6 million, the biggest five-bedroom apartment of 2,217 sq ft has a price tag of $6.31 million. The project is being marketed by ERA, Huttons, Edmund Tie & Co. and SRI.
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Owner-occupiers, preference for larger units
The buyers at Juniper Hill so far have been predominantly owner-occupiers, with Singaporeans making up two-thirds of the buyers, and the rest being Singapore permanent residents or foreigners, says Anson Lim, senior general manager of residential marketing and sales at Allgreen.
He reckons the ages of buyers are between 20 and 50 years old. For those in their 20s, their parents are likely to have purchased the units for them, or at least paid the downpayment on their behalf.
The master bedroom in Juniper Hill's three-bedroom show suite (Photo Credit: Albert Chua/EdgeProp Singapore)
As most buyers today are owner-occupiers, new projects launched in the Core Central Region (CCR) in recent months have seen greater demand for larger units. “There is a higher proportion of larger units being sold in the CCR as opposed to the Rest of Central Region (RCR) and Outside Central Region (OCR) in 1H2019,” notes Christine Sun, head of research and consultancy at OrangeTee & Tie.
Five-star hotel services by Shangri-La
While Juniper Hill will have its own concierge, Allgreen has partnered Shangri-La Hotel Singapore to provide services for residents such as laundry service, delivery of fresh bread and pastries every morning and assistance with bookings for accommodation or restaurants at the hotel.
These services will be offered complimentary to residents for the first two years after the project’s completion. According to Allgreen’s Lim, the proximity of Shangri-La Hotel to Juniper Hill – of just 1km distance and less than a five-minute drive – makes this feasible.
Juniper Hill’s proximity to reputable schools has been an added draw for owner-occupiers, adds Lim. Within a 1km radius are Anglo-Chinese School (Primary), Anglo-Chinese School (Barker Road), Singapore Chinese Girls’ School, Raffles Girls’ School (Secondary) and St Joseph’s Institution.
In addition to schools, the project is within a 10-minute walking distance to Stevens MRT Station on the Downtown Line. From 2021 when the Thomson-East Coast Line is completed, Stevens will be an interchange station for both lines. There will be a new entrance to Stevens on Robin Road, which will then mean a shorter walk to the MRT station for residents of Juniper Hill, adds Lim.
Other amenities nearby include Balmoral Plaza, Newton Food Centre and Adam Food Centre. The residence is also just a short drive to Botanic Gardens located just 1.3km away. Within a five-minute drive are Dempsey Hill, Orchard Road, Tanglin Club and The American Club.
Artist's impression of Juniper Hill's spa jacuzzi (Credit: Allgreen Properties)
Even though Juniper Hill has just 115 units and sits on an elevated site of 60,482 sq ft, it offers full condominium facilities including a 50m swimming pool, tennis court, gymnasium, spa jacuzzi, sky lounge and sky fitness, says Ken Low, managing partner of SRI. Low sees the services offered by Shangri-La Hotel as “great perks” for residents. “Buyers in this segment of the market are not just looking at prices, but also the intangible benefits that go with the property,” he adds.
Buying for the long term
For owner-occupiers who are buying for the longer term, their main considerations are “location, design quality and lifestyle features”, says Eugene Lim, ERA’s key executive officer.
Allgreen intends to launch the third project in its Bukit Timah Collection before the end of the year. This will be the 285-unit Royalgreen, a redevelopment of the former Royalville along Bukit Timah Road. It will be the most luxurious offering of the three projects in the collection, says Allgreen’s Lim.
SRI’s Low reckons Royalgreen could be launched at prices “close to, or at least from $3,000 psf”. This is because the freehold site was purchased at the end of November 2017 for $447.94 million or $1,960 psf per plot ratio (ppr).
Artist's impression of the 50m swimming pool at Juniper Hill (Credit: Allgreen Properties)
Allgreen also announced the acquisition of the former Crystal Tower around the same time, for $180.65 million or $1,840 psf ppr at the end of November. Meanwhile, the site of Fourth Avenue Residences was purchased in a government land tender that closed in early December 2017, at $553 million ($1,540 psf ppr). This means that Allgreen scooped up three residential development sites within a week, from late November to early December 2017, for close to $1.2 billion.
‘A balanced portfolio’
In order to diversify its portfolio, which is tilted towards luxury residences in the prime districts, a joint venture between Allgreen and Kerry Properties bid for and won a Pasir Ris white site in a government land sale in March this year.
The site was offered for sale by HDB under the two-envelope scheme based on concept and price. The Allgreen and Kerry Properties joint venture paid $700 million or $684 psf ppr for the site.
Allgreen has announced that it will build an integrated development with about 480 residences and three levels of retail space that will be seamlessly linked to a bus interchange, Pasir Ris MRT Station, a polyclinic and a town plaza.
The addition of the Pasir Ris site will mean having “a balanced portfolio”, says Allgreen’s Lim. “We will have high-end residential units and we will also have units catering to the suburban residential market.”
For now, however, Allgreen will be focused on the upcoming launch of Juniper Hill and Royalgreen later this year.
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