Prime semi-detached houses at Victoria Park Villas priced from $4.4 mil

By
/ The Edge Property
|
September 2, 2016 11:30 AM SGT
Giant developer CapitaLand launched its landed housing project, Victoria Park Villas, on Sept 1. Since private previews began in the third week of July, seven semi-detached houses have been sold. Prices of the units sold ranged from $4.35 million ($2,003 psf) to $4.9 million ($1,932 psf), according to caveats lodged with URA Realis.
Construction is now at an advanced stage, with the project scheduled for completion at end-2018. Victoria Park Villas contains 106 semi-detached houses and three bungalows sitting on a sprawling 403,012 sq ft site. The project also has a Victoria Park address, with a brand-new road exclusive to the development: Victoria Park Grove.
Scale model of the 109-unit Victoria Park Villas, with Mok Wei Wei of W Architects as master planner and the houses designed by AR43, HYLA and Studio Wills+Architects
Nestled in GCB estate
The appeal of Victoria Park Villas is that it is located in a Good Class Bungalow estate in prime District 10. The last transaction of a GCB in the posh Victoria Park estate was a fortnight ago, when a property at Victoria Park Close was sold for $19 million, or less than $1,000 psf, as part of an estate sale. The price is below $1,000 psf because the GCB is located on a downward slope, according to property agents.
Prior to the recent transaction, the last GCB that changed hands in Victoria Park was five years ago, when a property sitting on a 32,077 sq ft freehold plot sold for $48 million ($1,496 psf), according to a caveat lodged in November 2011.
“It’s very rare to have a new landed housing development located within an established GCB neighbourhood in a prime location,” says Mok Wei Wei, managing director of W Architects and master planner for Victoria Park Villas.
Another attraction of the development to young families is its proximity to top schools such as Nanyang Kindergarten, Nanyang Primary School, Raffles Girls’ Primary School, Hwa Chong Institution, Nanyang Girls’ High School and National Junior College. The property is also relatively near two MRT stations: Farrer Road MRT station on Farrer Road and Tan Kah...