Midtown Modern banks on connectivity, greenery and full facilities
/ EdgeProp Singapore |
Scale model of Midtown Modern, which comprises 558 units in two 30-storey towers (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - Midtown Modern, GuocoLand’s 558-unit condominium at Tan Quee Lan Street in District 7, is the only condominium with full facilities including a 3.8ha forest garden in the Downtown Core area, according to Knight Frank’s Alice Tan. The condo’s suite of amenities includes a tennis court, 50m swimming pool, deluxe clubhouse that can accommodate more than 50 people, hot spring, tea house and entertainment pavilions.
Speaking at the EdgeProp Singapore NDP Master Plan Master Class webinar on Aug 13, Tan highlighted that the extensive range of facilities is among the reasons behind Midtown Modern’s healthy take-up rate. Based on caveats lodged as of Aug 16, about 79% of units have been sold since the project’s launch in March 2021 at an average price of $2,744 psf.
Another key factor is the 99-year leasehold project’s connectivity. Located directly above the Bugis MRT Interchange and served by the Downtown and East-West Lines, residents at Midtown Modern will have convenient access to public transportation right at their doorstep.
Tan adds that another standout feature of the development is its strong emphasis on greenery, with over a hectare of land dedicated to gardens and landscaping. “This adds a lot of softness to the development, in contrast to the ‘concrete jungle’ setting usually associated with the CBD,” she explains.
Midtown Modern comprises two 30-storey towers which house a mix of one-, two-, three- and four-bedroom apartments that range from 409 sq ft to 1,808 sq ft. There are also two penthouses measuring 3,520 and 3,272 sq ft respectively.
During its launch weekend, close to 90% of all the one- and two-bedroom units were sold, which Tan attributes to strong investor confidence given the project’s location within the wider Guoco Midtown development, its accessibility as well as proximity to retail and other amenities. “It’s a great investment product,” she adds.
Construction site for Midtown Modern, captured on Aug 11 (Picture: Samuel Isaac Chua/The Edge Singapore)
Nonetheless, the variety of units available, which include the larger three- and four-bedroom apartments, means that owner-occupiers are also well catered for at the development. Tan adds that the larger units also provide flexibility for owners, who can use one of the bedrooms as a home office, entertainment room, or for other uses.
In early July, GuocoLand unveiled the Sky-Bungalow Collection at Midtown Modern: six duplex residences located on levels 24 onwards. Each unit is a five-bedroom residence measuring 3,616 sq ft that is an amalgamation of two four-bedroom apartments. The Sky-Bungalow Collection was launched at prices from $15.5 million ($4,287 psf), going up to $17 million ($4,701 psf) for the penthouse unit located on levels 29 and 30.
Based on caveats lodged with URA on July 11, the penthouse Sky Bungalow has been sold at a $17 million price tag, marking the single-highest transaction and a new psf price high for the development.
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