Parc Botannia: 230 of 250 units released sold in first weekend

November 12, 2017 8:23 PM SGT
On Nov 12, joint venture partners and property developers of Parc Botannia, Sing Holdings and Wee Hur Holdings, announced that 230 units have been sold on the first weekend of its launch. The average price of units sold was $1,270 psf.
The partners had released 250 units in the first phase. According to sources, over 500 cheques were received as expressions of interest prior to the launch weekend. Due to overwhelming demand, units had to be sold by balloting on Nov 11 conducted by exclusive marketing agent Huttons Asia.
Parc Botannia contains 735 units spanning four 22-storey blocks. Apartments are a wide mix, ranging from 431 sq ft for a one-bedroom apartment to 1,679 sq ft for a five-bedroom unit. According to Lee Sze Hao, CEO of Sing Holdings, the most popular units were the one-bedroom and five-bedroom units, which shows that the project has attracted interest from a wide spectrum of investors and owner occupiers.
The project sits on a 99-year leasehold site with a land area of 185,095 sq ft in Fernvale, located adjacent to the Thanggam LRT station, just a few stops from the Sengkang MRT station. The developers are also responsible for developing a new 100,000 sq ft park adjacent to Parc Botannia, which will be handed over to National Parks Board to manage upon completion. Wee Hur, which holds a 30% stake in the joint venture, will be handling the construction of the project.
According to Sing Holdings’ Lee, Parc Botannia has attracted strong buyer interest as there hasn’t been a new private condo launch in the neighbourhood since High Park Residences two years. The 1,390-unit High Park Residences is located just across the road from Parc Botannia.
Launched in July 2015, High Park Residences was sold out within 20 months at an average price of just under $1,000 psf. Construction is well underway at High Park Residences which is developed jointly by Chip Eng Seng Corp, Heeton Holdings and KSH Holdings.