This week in property: Highlights from June 25 to June 29
By Fiona Ho
/ EdgeProp |
Property highlights of the week from June 25 to June 29:
The preview of Stirling Residences will be held on the weekend of June 30. The 1,259-unit private condominium is the maiden Singapore residential project by Hong Kong-listed, Shenzhen-headquartered property developer Logan Property Holdings Co.
Stirling Residences will have three high-rise towers: two 40-storey blocks and one 38-storey building. The three towers will be raised 15m — equivalent to five storeys — above street level.
The condo will have a diverse range of facilities and with a wide mix of unit types from one- to four-bedders to cater to different groups of people, including: young professionals, families with young children, and multi-generational families and investors.
The string of en bloc sales in the traditional prime districts 9, 10 and 11 since the start of the year has driven land prices to record levels of up to $2,910 psf per plot ratio (ppr). That means selling prices of new launches are likely to touch $4,000 psf.
At Tanjong Pagar Centre in District 2, units at Wallich Residence have been snapped up at progressively higher prices. Wallich Residence contains just 181 luxury residences and spans the 39th to 64th floors of Tanjong Pagar Centre. The residences sit on top of the 38-storey Guoco Tower, which contains Grade-A office space. Tanjong Pagar Centre is an integrated development by GuocoLand and includes retail space as well as the luxury Sofitel Singapore hotel. The entire development is linked underground to the Tanjong Pagar MRT station.
The latest transaction at Wallich Residence was the sale of a 3,509 sq ft, four-bedroom unit on the 58th floor that fetched $16 million ($4,560 psf), according to a caveat lodged with URA Realis on June 4.
The last two residential development sites under the Confirmed List of the 1H2018 Government Land Sales (GLS) Programme was launched for sale by public tender on June 28. They were the condo development site at Jalan Jurong Kechil and the executive condo (EC) development site at Canberra Link in Sembawang.
The Jalan Jurong Kechil site has a land area of 14,234.9 sqm (153,223 sqft) and can yield a maximum gross floor area (GFA) of 19,929 sqm (214,513 sqft). The site can be developed into a new five-storey residential project with 280 units.
It’s located close to the German European School Singapore, Pei Hwa Presbyterian Primary School and Glory Kindergarten. Other amenities nearby include Beauty World, Bukit Timah Shopping Centre and Bukit Timah Nature Reserve. It’s a 10- to 15-minute walk to the Beauty World MRT station.
Meanwhile, the EC site at Canberra Link has a land area of 18,042 sqm (194,202 sq ft) and can be developed into a project with a maximum GFA of 485,505 sq ft. The new development could have a maximum of 450 units and a height of 12- to 14-storeys.
The advantages of the site include its fairly close proximity to the Canberra MRT station; schools such as Sembawang Primary and Wellington Primary; and Canberra Plaza and Sembawang Shopping Centre.
Another EC site on the Confirmed List is in Tampines Avenue 10 and is slated for launch in Oct 2018.
Two more residential development sites were made available for application under the Reserve List of the Government Land Sales (GLS) Programme for 1H 2018: A condominium development site at Clementi Avenue 1 and an EC development site at Anchorvale Crescent.
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