Newly completed Cuscaden Reserve launches at prices from $3,360 psf

/ EdgeProp Singapore |

August 10, 2023 9:00 AM SGT

The driveway and drop-off point at Cuscaden Reserve (Photo: Cuscaden Reserve)

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The 192-unit Cuscaden Reserve, developed by SC Global Developments jointly with Hong Kong-listed developers, New World Development and Far East Consortium, is now completed, having obtained its Temporary Occupation Permit (TOP) recently. The luxury project is now open for viewing by invitation only.

The 28-storey tower is raised five storeys above ground and was designed by Chan Soo Khian, founding principal and design director of SCDA Architects. Other SC Global projects designed by SCDA are The Ladyhill at Ladyhill Road, Lincoln Modern on Lincoln Road, The Boulevard Residence at Cuscaden Walk and The Marq on Paterson Hill.

Cuscaden Reserve is the second and latest project under the ‘Petit Collectibles’ series by Simon Cheong, the founder and chairman of SC Global. Launched in 2018, Petit Collectibles features predominantly one- and two-bedroom units focused on “flexible functionality”.

Cuscaden Reserve (centre) is flanked by the upcoming Park Nova and 3 Orchard By-The-Park (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Luxury living

The Petit Collectibles series is targeted primarily at those who wanted SC Global’s luxury residential offerings but in more petite unit sizes. There are just two projects in the Petit Collectibles series: The first is the 55-unit freehold Petit Jervois on Jervois Road, completed in January 2022 and entirely sold as of early June.

Cuscaden Reserve, located at 8 Cuscaden Road, sits on an elevated 61,597 sq ft site. SC Global and the Hong Kong developers jointly purchased the 99-year leasehold site for $410 million in a government land tender in April 2018. At a land rate of $2,337 psf per plot ratio (psf ppr), it set a new benchmark price for Singapore’s 99-year leasehold residential development sites.

The design of Cuscaden Reserve is a homage to the Bauhaus movement and seamlessly integrates architecture, landscape, art and traditional craftsmanship. Its influence is evident throughout the development, from the yoga garden, salt-chlorinated pool, event pavilion, clubhouse lounge and gym in the common areas, to the apartments’ interiors.

The saltwater swimming pool with the staircase leading up to the residential tower raised five storeys above ground (Photo: Cuscaden Reserve)

“Our second Petit Collectible represents the epitome of luxury living,” says Cheong. “We have gone above and beyond to foster a feeling of escape and belonging within a calm zen-like environment.”

SC Global is extending its Seven Palms Resort Management and Concierge Services to the residents in its Petit Collectibles Series. The Seven Palms Resort Management was set up in 2002 as the estate management arm of SC Global, providing services to all its completed developments.

It even has a partnership with the British Butler Institute, which provides training for Seven Palms Resort Management and Concierge team. “We want to safeguard the brand experience of our homeowners through our management of the estates,” says the SC Global spokesperson.

The private clubhouse at Cuscaden Reserve provides co-working spaces for those working from home to plug in and work. Facilities include two private work pods for those who need to make video calls and a meeting room. The lounge is also a place for residents to meet friends and relax.

The private club lounge with workpods and a meeting room (Photo: Cuscaden Reserve)

Heart of the city

Units are a range of one-, two- and three-bedroom apartments from 700 sq ft to 1,163 sq ft. There are six 2,099 sq ft four-bedroom apartments starting from the 21st floor. The four-bedder on each floor is a reconfiguration of a two- and three-bedroom unit. They offer uninterrupted views towards the tree-lined Orchard Boulevard and the city skyline. Crowning the tower is a sole duplex penthouse of 3,755 sq ft on the 27th and 28th floors.

The layout of the interiors at Cuscaden Reserve was inspired by Bauhaus architect Mies van der Rohe’s design of the Edith Farnsworth House between 1945 and 1951. Farnsworth House was designed as a one-bedroom weekend retreat. All the utilities are within the central core of the house, offering views on all sides while extending the living area and creating a flow between the living space and its natural surroundings.

The units at Cuscaden Reserve are therefore designed with a kitchen in the centre, which opens up the living area and maximises the views. “We’ve taken inspiration from Mies van der Rohe’s Farnsworth House to create a fluid open plan design that allows the resident to create their own unique space to suit their individual lifestyle needs,” says the SC Global spokesperson. “Our vision was to create an elegant pied-à-terre in the heart of the city that epitomises contemporary luxury living.”

The 936 sq ft, two-bedroom-plus-study with telescopic doors separating the bedrooms from the living room, which can be opened completely to open up the space or closed off for privacy (Photo: Cuscaden Reserve)

Flexibility and ‘telescopic doors’

It is not surprising why the project is more appealing now that it is completed, says Marcus Chu, CEO of ERA Singapore, one of the appointed joint marketing agencies for Cuscaden Reserve. “Buyers get to experience the quiet luxury and seamless integration of functionality and aesthetic that meet the needs of urban dwellers today.”

“There are many clever and attractive features in Cuscaden Reserve,” Chu points out. An example is the telescopic doors within the one-, two- and three-bedroom units. These doors are movable and separate the bedrooms from the living area. They allow residents to expand the space or close up one of the rooms when necessary. “Singles or young couples will appreciate this flexibility which allows them to switch up their home layout according to their lifestyle needs,” he adds.

Every unit has a private enclosed space or a balcony for residents to enjoy the views — either towards Orchard Boulevard or Cuscaden Road — which looks towards the greenery of Bukit Timah. At Cuscaden Reserve, it is not just the large units that have private lift lobbies. All the three-bedroom and majority of the two-bedroom units come with private lift access.

The grand drop-off at Cuscaden Reserve (Photo:Cuscaden Reserve)

‘Attractive pricing’

“Lending a sense of luxury is the grand drop-off and the concierge service offered by Seven Palms Resort Management,” says Dominic Lee, head of the luxury team at PropNex, the other joint marketing agency for Cuscaden Reserve.

He sees the property attracting “foreigners who want to live in the city, singles or couples and young professionals whose parents are financing their home purchase”, adds Lee. “Given the quality of the fittings and attention to detail, it is likely to attract more owner-occupiers rather than investors.”

Prices of units at Cuscaden Reserve start from $2.352 million ($3,360 psf) for a one-bedroom unit of 700 sq ft. Two-bedroom units of 807 sq ft with private lift start from $2.774 million ($3,437 psf), while those of 818 sq ft are upwards of $2.828 million ($3,457 psf).

The event pavilion (Photo: Cuscaden Reserve)

Two-bedroom-plus-study units of 936 sq ft are from $3.42 million ($3,654 psf). Meanwhile, a three-bedroom-plus-study of 1,163 sq ft is over $4.289 million ($3,688 psf). The 2,099 sq ft, reconfigured four-bedroom units start from about $8.3 million ($3,954 psf) for the unit on the 21st floor. Hence, PropNex’s Lee sees Cuscaden Reserve’s starting prices as “attractive”.

At Park Nova next door, the 54-unit freehold project by Hong Kong-listed Shun Tak Holdings, two-bedroom units of 1,432 sq ft are going for prices from $6.19 million ($4,324 psf) to $6.5 million ($4,543 psf), based on caveats lodged between November and May 2023.

Since the latest round of property cooling measures in April, where additional buyer’s stamp duty (ABSD) for foreigners doubled to 60% from 30% before, “demand from foreigners buying units above 2,000 sq ft has essentially dried up”, says Alan Cheong, executive director of research and consultancy at Savills Singapore.

The aerial view of the yoga lawn and the swimming pool (Photo: Cuscaden Reserve)

‘Where money is not an issue’

“Demand in the prime districts is now primarily driven by local buyers zooming in on one- and two-bedroom units,” adds Cheong. “And for such buyers, Cuscaden Reserve’s prices from $2.35 million is not beyond their reach.”

He says that the profile of the residents in the prime District 10 enclave of Cuscaden Road and Orchard Boulevard falls under the category of “money is not an issue”. “For such individuals, whether a property is a 99-year leasehold or freehold matters less than the location, quality of the finishings and fit-out,” he adds. “This is where Cuscaden Reserve will have an edge.”

Orchard Bel Air is the only other 99-year leasehold development in the Cuscaden Road and Orchard Boulevard area. The 71-unit condo sits next to Orchard Boulevard MRT Station (Thomson-East Coast Line), which opened last November. The property has 56 years remaining on its 99-year lease from 1980.

The Orchard Boulevard MRT Station is just a two-minute walk from Cuscaden Reserve (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Completed in 1984, Orchard Bel Air relaunched for collective sale at the start of the year but failed to find a buyer as owners refused to lower the reserve price. It was relaunched at $587.5 million, the same asking price as the launch by marketing agent Knight Frank last July.

The price translates to a land rate of $2,620 psf ppr after factoring in a lease top-up premium of $136 million. With the 7% bonus gross floor area allowed for balconies, the land rate is slightly lower at $2,551 psf ppr.

Given the higher construction costs, a property consultant estimates that a new project on the redevelopment site of Orchard Bel Air would have to sell for $4,200 to $4,400 psf today.

The newly completed Singapore Edition Hotel and luxury condo Boulevard 88 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Gentrification

Cuscaden Reserve, the newest development on the block, will benefit from the gentrification in the Cuscaden Road and Orchard Boulevard area. Three years ago, there was much construction going on in the neighbourhood. However, now most of the construction is completed.

It is a two-minute walk from the back gate of Cuscaden Reserve to the Orchard Boulevard MRT Station. Camden Medical Centre and Botanic Gardens are also within walking distance.

Nearby are Tanglin Mall and the Orchard Road malls, Michelin star restaurants and luxury hotels such as St Regis, Four Seasons, the upcoming Artyzen Hotel and Singapore Edition Hotel. Across the road from Cuscaden Reserve, the former Regent Singapore has also been rebranded Conrad Singapore Orchard and is undergoing a makeover.

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