Leedon Residence records strong sales after attaining TOP

By
Feily Sofian
,
Esther Hoon
/ GuocoLand, The Edge Property
|
July 30, 2015 5:35 PM SGT
Step into a ground floor unit at Leedon Residence and you would feel you are in an upscale bungalow. And it is all for the right reasons. The lush 4.9 hectare site for Leedon Residence is right next to the Leedon Park and Cornwall Gardens Good Class Bungalow (GCB) areas at prime district 10. A full-height glass façade separates the living room and the unit's very own private pool. The unit also features a living room ceiling height of up to 6m and an open dry kitchen concepts where guests can mingle over cocktails and canapé.
Developer GuocoLand Limited announced an uptick in the rate of sales for the 381-unit Leedon Residence following the issuance of its Temporary Occupation Permit (TOP) on 15 June 2015. GuocoLand also has had a rise in enquiries about the project and has recorded sales of 24 units in the last six weeks, translating to an average of four sales per week.
It was quite an achievement given the slow activity in the high-end market. Mr Cheng Hsing Yao, Managing Director, GuocoLand Singapore said, “Considering how the high-end residential market has been tepid, and how each apartment costs an average of $4.5 million, it is actually quite a significant investment.” He was not totally surprised, however, as he had a similar experience with Goodwood Residence, which similarly experienced a surge in purchases after TOP.
“Astute buyers can recognise quality and great value, and these become much more evident once the project is completed,” explained Cheng.
Renowned architect Chan Soo Khian helmed the project’s design from site planning, architecture, landscaping, interior design, art works, right down to details such as lighting, kitchen and vanity fittings. It ensured that the development would be designed seamlessly with quality finishes such as kitchen appliances and bathroom fittings, wardrobes, timber cladding, marble finishes, right down to the low emittance glass used for privacy and sound proofing.
Alan Cheong, head of research at Savills Singapore, expects a strong capital upside for the project. “It feels like buying a $3,000 psf luxury home on Orchard Road by Chan Soo Khian for just $2,200 psf,” he commented. Chan is no stranger to designing luxury projects with projects such as The Ladyhill on Orange Grove Road, The Boulevard Residence (BLVD) at Cuscaden Walk, The Marq on...