Published November 2, 2010


Developers eye project releases before holidays
CDL sells 112 units at its 150-unit Glyndebourne condo on Dunearn Rd

By KALPANA RASHIWALA


(SINGAPORE) As City Developments (CDL) announced yesterday that about 75 per cent of the 150 units at its freehold Glyndebourne condo have been sold since the preview began on Friday, some other developers are rushing to try to release projects before the year-end holiday season sets in.

UOL Group is expected to preview the freehold Spottiswoode Residences condo next week, and the price is expected to be about $2,000 per square feet (psf). About 90 per cent of the 351 units comprise one-bedroom, one-bedroom-plus-study and two-bedroom apartments.

The project, a 36-storey tower, is next to Spottiswoode Park, a green lung in the area, and close to Tanjong Pagar, which is slated to be transformed into a new bustling waterfront district after the container terminals in the vicinity eventually move out.

The Tanjong Pagar Railway Station site is also expected to be redeveloped after Keretapi Tanah Melayu vacates the site under a historic land-swap deal between Singapore and Malaysia announced in September.

Over at Robinson Road, agents are said to be gathering interest for the freehold Robinson Suites at prices ranging from $2,300 psf to $3,300 psf. The 42-storey project, to be developed on the VTB Building site, comprises 167 apartments and three ground-floor shop units. All the apartments are either one-bedroom-plus-study units or two-bedders. Unit sizes start at 484 sq ft.

The developer - a consortium whose shareholders include Cheong Sim Lam (whose family developed International Plaza), Fission Holdings, Tan Koo Chuan and Saw Pik Kee - is pitching the project as the 'first-ever freehold apartments along Robinson Road'.

CapitaLand, meanwhile, is getting ready to release the first phase of its 1,715-unit condo on the 99-year-leasehold Farrer Court site. The 36-storey Zaha Hadid-designed project will feature one to four-bedroom apartments, penthouses and six pairs of strata semi-detached houses.

In the mass-market segment, Sim Lian is said to be gunning to release Waterview, a 99-year-leasehold condo comprising 696 units at Tampines Ave 1/10 facing Bedok Reservoir, as soon as it gets all the necessary approvals from the authorities.

The project will comprise two, three and four-bedroom apartments and penthouses. The average price is expected to be in the $820-920 psf range.

Meanwhile, CDL said yesterday it sold 112 units at its 150-unit Glyndebourne condo on Dunearn Road between Friday and Sunday.

'All one-bedroom-plus-study, two-bedroom and three-bedroom-plus-study units have been snapped up. A wide spectrum of other unit types was also sold, including 10 out of the 23 penthouses,' CDL said in a statement yesterday.

Seventy per cent of the buyers are Singaporeans, with permanent residents and foreigners from Malaysia, the United States, Indonesia, China, India, Myanmar, Korea, Thailand, Taiwan and Brunei making up the remaining 30 per cent.

CDL began previewing the project on Oct 29 on behalf of its London-listed hotel unit Millennium & Copthorne Hotels, which owns the freehold site on which the condo will be developed.

The Copthorne Orchid Hotel Singapore on the site will be closed at the end of March 2011 to make way for the redevelopment of the site into Glyndebourne.

CDL said the 112 units sold were at prices ranging from $1,900 to $2,350 psf, or at an average price of about $2,100 psf.

Source: http://www.businesstimes.com.sg

05:55 AM Nov 02, 2010

SINGAPORE - City Developments (CDL) yesterday said 75 per cent of the units at its new condominium off Dunearn Road were snapped up during a private preview over the weekend.

The 150 unit condo, called the Glyndebourne, will be located at the site of the Copthorne Orchid Hotel in District 11. The freehold development is expected to get its Temporary Occupation Permit in 2015.

At the start of the private preview last Friday, CDL released 60 units in Phase 1. However, to cater to the strong demand, the developer released additional units and a total of 112 apartments were sold. The prices ranged from $1,900 to $2,350 per sq ft.

About 70 per cent of the buyers were Singaporeans, with permanent residents and foreigners from Malaysia, the United States, Indonesia, China, India, Myanmar and South Korea making up the rest, CDL said.


Source: http://www.todayonline.com

Published October 30, 2010

New condo at Copthorne Orchid Hotel site

By KALPANA RASHIWALA

THE Copthorne Orchid Hotel Singapore along Dunearn Road will close at the end of March 2011 for redevelopment of the site into a 150-unit freehold condo, which was previewed yesterday.

Sixty units were released for the first phase at an average price of $2,050 per square foot.

In absolute terms, prices range from $1.59 million for a 689 square foot one-bedroom unit with study to $7.15 million for a five-bedroom penthouse of 3,563 sq ft, said City Developments Ltd (CDL). The site is owned by its London-listed unit, Millennium & Copthorne Hotels.

The condo, named Glyndebourne, comprises eight blocks of five-storey apartments with a basement car park. It is a stone's throw away from the Singapore Chinese Girls' School.

Sales began yesterday morning for CDL staff, directors and invitees. In the afternoon, the preview was opened to clients of the two appointed marketing agents, DTZ and Huttons.

CDL declined to provide a sales update yesterday, saying that it was just the first day of sales.

Instead, in its release yesterday, it took pains to explain how the project's name, Glyndebourne, is to be read - Gline-born. It also elaborated on the name's origin - the famous historical Glyndebourne opera theatre in East Sussex, England.

The development will have five one-bedroom-with-study units, 32 two bedders, 54 three bedders, four apartments that comprise three bedrooms and a study, and 32 four-bedders. There are 23 penthouses, which will offer either four bedrooms and a study, or five bedrooms.

Source: http://www.businesstimes.com.sg

The freehold condo will be built on the Copthorne Orchid Hotel site

Published October 19, 2010
By KALPANA RASHIWALA

THE Glyndebourne, a 150- unit proposed freehold condo slated to be built on the Copthorne Orchid Hotel site along Dunearn Road, is expected to go on the market as early as next week, say sources.

Market watchers suggest the average price could be about $2,000 per square foot (psf).

Unit sizes are said to range from about 690 sq ft for a one-bedroom apartment with a study to 3,563 sq ft for a five-bedroom penthouse.

City Developments Ltd (CDL) is managing the marketing of the condo on behalf of its hotel unit Millennnium & Copthorne Hotels, which owns the hotel.

Earlier this month, BT reported that the closure of the hotel has been delayed by at least three months.

It will now continue to take bookings until March 31, 2011, instead of shutting down at the end of this year as initially announced.

Meanwhile, CDL itself has sold 48 units so far this month at its NV Residences condo in Pasir Ris, taking total sales to 395 out of 450 units released in the 642- unit project.

The 99-year leasehold condo was previewed on Sept 8 at $830 psf on average initially. Prices were later raised 1-2 per cent.

Over in Yishun, MCC Land has sold 100 units of The Canopy executive condo (EC).

The 406-unit project was launched on Saturday at an average price of $645 psf.

An earlier EC launch, Frasers Centrepoint's Esparina Residences in the Sengkang area, saw another 35 units being sold last week, taking total sales to 399 units.

The project, which comprises a total 573 units, is priced at $740 psf on average. Frasers Centrepoint also sold six units at Waterfront Gold and two units at Waterfront Key, both along Bedok Reservoir, and a unit at Flamingo Valley.

Allgreen is said to have sold about 80 units at its Suites at Orchard project at Handy Road, which was released last week.

The average price for the 99-year leasehold project, which comprises mostly one and two-bedders and is located near The Cathay and Dhoby Ghaut MRT station, is said to be about $2,100 psf.

Meanwhile, sales are said to have been tepid at The Cityscape at Farrer, a 250-unit freehold condo at Mergui Road (near Rangoon Road, facing the Central Expressway) by IOI Group and KSH Holdings.

The project was previewed last week and about 15 units are said to have been sold.

Potential buyers may have found the price, understood to be about $1,400 psf on average, steep.

The 31-storey project comprises two and three- bedders as well as penthouses.

Meanwhile, property giant Far East Organization sold 33 units across various projects last week.

Source: http://www.businesstimes.com.sg