Whipping up an Appetite for Coffee Shops Turn to Our Cover Story on Pages 6 & 7

PROPERTY PERSONALISED MCI (P) 045/08/2019 PPS 1519/09/2012 (022805)

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of July 13, 2020 | ISSUE 941-163

Offshore Gains and Losses Spotlight Under the Hammer As coronavirus fades in Unit at Cavenagh Largest penthouse at Mortgagee sale of three China, homebuyers are Gardens reaps $1.24 mil 15 Holland Hill sold for industrial units at T99 stampeding back in ep4 profitep 5 $15 mil ep10 in Tuas ep11

Whipping up an appetite for coffee shops Turn to our Cover Story on Pages 6 & 7.

The exterior of the coffee shop at Ang Mo Kio Avenue 10, which also has a prominent frontage along the road SAMUEL ISAAC CHUA/THE EDGE SINGAPORE CHUA/THE ISAAC SAMUEL

EP2 • EDGEPROP | JULY 13, 2020 PROPERTY BRIEFS

CUSHMAN & WAKEFIELD RESEARCH SAMUEL ISAAC CHUA/ THE EDGE SINGAPORE able gross floor area of 115,281 sq ft. The property is connected to major Preliminary investment volume in Singapore ADVERTISING + arterial roads and expressways including MARKETING ADVERTISING SALES Upper Thomson Road, Yio Chu Kang vice-president, sales & Road, Seletar Expressway, Tampines operations | Diana Lim Expressway and Central Expressway account director | Ivy Hong (CTE). It will be a six-minute drive to deputy account director | Janice Zhu the upcoming Lentor MRT Station on senior account manager | the Thomson-East Coast Line. Pang Kai Xin Meanwhile, a pair of strata industri- account manager | Ryan Wang al units at 205 Henderson Road, with- PUBLISHER in Bukit Merah, is up for sale at $7.98 The Edge Property Pte Ltd million ($730 psf). 150 Cecil Street #13-00 Singapore 069543 The two freehold units are located Tel: (65) 6232 8688 in the Henderson Industrial Park, and Fax: (65) 6232 8620 occupy a total strata area of 10,926 sq ft. Both units are currently vacant. PRINTER SHUTTERSTOCK KHL Printing Co Pte Ltd The property is connected to ma- some hospitality investment deals, 57 Loyang Drive jor arterial roads and expressways, in- says C&W. “As there is uncertainty Singapore 508968 cluding Jalan Bukit Merah, Henderson over the duration of the crisis and Tel: (65) 6543 2222 Fax: (65) 6545 3333 Road, Ayer Rajah Expressway and CTE, when tourism will return to pre-pan- and is a short 11-minute drive away demic levels, a significant proportion PERMISSION AND from the CBD. of hospitality asset owners could be REPRINTS “Colliers International research seeking to exit the sector in favour of Material in The Edge Property Level 22 of Springleaf Tower spans 10,527 sq ft may not be reproduced in any forecasts the industrial supply to ta- more stable asset classes.” form without the written per off in the next five years. Industri- Christine Li, head of research at permission of the publisher Office floor at Springleaf Tower al assets command higher yields than C&W, Singapore and Southeast Asia, for sale at over $26 mil office and retails assets and remain expects the full-year property invest- We welcome your comments An entire office floor of Springleaf Tow- the most insulated compared to other ment volume to range between $12 and criticism: propertyeditor.sg@ er is on the market for more than $26 asset classes in this pandemic,” says billion and $15 billion. “The sluggish bizedge.com million, according to Savills, which Steven Tan, senior director of capital market sentiment is expected to con- Pseudonyms are allowed but is marketing the property. markets & investment services at Col- tinue, with volume in the second half please state your full name, The office floor on Level 22 spans liers International. of the year unlikely to increase sig- address and contact number for about 10,527 sq ft, and comes with The expression of interest exercise nificantly,” she notes. us to verify. exclusive use of the lift lobby, pantry for both properties will close at 3pm “If the merger between CapitaLand and restrooms with shower facility. on Aug 4. Commercial Trust and CapitaLand Springleaf Tower is one of a few stra- Mall Trust is approved by unithold-

ta office developments with Grade-A COLLIERS ers, this would add an additional $10 specifications. Preliminary real estate investment volume in billion to the investment tally, rais- Completed in 2002, Springleaf Tow- Singapore in 1H2020 clocked $6.13 billion, ing the full-year volume to a range of er is located in Singapore’s CBD, in according to Cushman & Wakefield $22 billion to $25 billion,” Li adds. Tanjong Pagar. It has approximately Shaun Poh, executive director, cap- 100m road frontage along Anson Road $6.13 billion, a 45% y-o-y fall from ital markets, at C&W, says: “In this and enjoys underground sheltered ac- 1H2019’s $11.24 billion, according to post-circuit breaker period with the cess to Tanjong Pagar MRT Station. real estate consultancy Cushman & resulting recession, some owners are According to Savills, Springleaf Wakefield (C&W). expected to put up their assets for Tower consistently enjoys a high oc- Preliminary property investment sale to free up liquidity. Funds with cupancy rate and the office floors are volume in 2Q2020 amounted to $3.06 a fixed fund life will also be planning tightly held by a very small number billion, compared to 1Q2020’s $3.07 their exits.” of owners. billion. “As past recessions have shown, The expression of interest exercise Big-ticket real estate commercial there are gains to be reaped when in- will close at 3pm on Aug 13. deals started to return in 2Q2020, vestors enter during the period when resulting in commercial investment the market is going through a repric- volume surging to $2.02 billion from ing to find its balance,” he notes. “We

COLLIERS $183.4 million in 1Q2020, notes the are starting to see some market ac- firm. Commercial real estate deals tivity around investors sniffing out Bruce has 16 years of experience in commercial therefore accounted for 66% of prop- these opportunities and these might real estate, including asset management and erty investment volume in 2Q2020. potentially be inked in the later part leasing, across cities in Asia The largest deal in 2Q2020 happened of the year.” when Chinese e-commerce giant Ali- Colliers appoints Stephen baba Group acquired a 50% stake in Frasers Hospitality reopening Bruce as head of real estate AXA Tower for $1.68 billion. Mean- properties worldwide management services while, a significant chunk of 2Q2020 Frasers Hospitality, a member of Colliers International has appointed investment sales — 41% of total in- Frasers Property Group, is reopening Stephen Bruce as head of real estate vestment volume in 2Q2020 — was its properties worldwide. management services for its Singa- attributed to the merger between Throughout the Covid-19 pan- pore business, with effect from July 6. Frasers Logistics Trust and Frasers demic, most of Frasers Hospitality’s As the executive director and head Commercial Trust, where the former properties around the world have re- of real estate management services for acquired the latter for $1.25 billion. mained open. Of its properties that Colliers, Bruce is responsible for lead- Other notable deals included closed in accordance with govern- ing and driving the real estate manage- Perennial divesting its 30% stake in ment and local authority guidelines, ment services business in Singapore, TripleOne Somerset to Shun Tak Hold- those in Germany, France, Switzer- which offers asset management, stra- ings for $155.1 million, and Olayan land and Spain have recently opened ta management, lease tenancy and fa- Group purchasing the retail and banking their doors to guests. The pair of strata industrial units at 205 cilities management services. units of 30 Raffles Place — the former Following the easing of restric- Henderson Road is up for sale at $7.98 million Bruce brings with him 16 years of Chevron House — for $315 million. tions in the UK, serviced residences experience in commercial real estate, Meanwhile, industrial investment in England reopened on July 4, and including asset management, leasing volume in 2Q2020 remained stable at those in Scotland will follow on July Industrial properties in Tagore and management and capital markets $701.3 million, compared to 1Q2020’s 15, with a phased reopening of bou- and Bukit Merah for sale across cities in Asia. volume of $661.4 million. tique lifestyle hotels Malmaison and Two industrial properties are up for sale Prior to joining Colliers, Bruce was Due to the absence of government Hotel du Vin. in Tagore and Bukit Merah, according based in Hong Kong, working for anoth- land sales sites in the quarter, activ- Due to Covid-19, Frasers Hospital- to Colliers International, which is mar- er global real estate consultancy where ity in the residential sector was mut- ity has adopted new measures across keting the properties. he led the firm’s premium asset man- ed with a volume of $305.4 million, its properties, which include deep The property at 12 Tagore Drive is agement and portfolio leasing services. significantly down from $2.02 billion cleaning services, frequent sanitisa- being marketed at a guide price of $55 in the preceding quarter. tion at communal areas, and remote million ($573 psf). It is a four-storey free- Singapore’s preliminary real Unsurprisingly, the hospitality sec- guest concierge services. hold warehouse on a 57,641 sq ft plot. estate investment volume in tor remained quiet with no deals, as On-site restaurants and bars have Under URA’s Master Plan 2019, it is 1H2020 falls 45% y-o-y buyers waited on the sidelines for pric- also provided grab-and-go food options, zoned under “Business 1” with a plot Preliminary real estate investment vol- es to be revised further downwards. and ensured safe distancing for din- ratio of 2.0, and has a maximum allow- ume in Singapore in 1H2020 clocked In the near future, there could be ers. — Compiled by Charlene Chin E EDGEPROP | JULY 13, 2020 • EP3 EP4 • EDGEPROP | JULY 13, 2020 OFFSHORE As Covid-19 fades in China, homebuyers rush back in, boosting outlook of developers’ stocks

BLOOMBERG BY DEB PRICE

hina’s home sales continue to re- bound, sending developers’ stocks soaring over July 2 and July 3 and prompting analysts to urge investors to take a fresh look at the sector now Cthat the country appears to have put the worst of the coronavirus pandemic firmly behind it. Data from China Real Estate Information Corporation (CRIC) last week showed 30 major developers tracked by Jefferies beating market expectations for home sales in June, post- ing on average a 18% jump y-o-y in what was the fourth consecutive month of gains. Several analysts fired off upbeat calls on the sector’s outlook in the second half of the year, particu- larly among its mid cap players. Hong Kong-listed shares rallied on CRIC data and sales figures reported by some developers in Hong Kong stock exchange filings, as well as new analysts’ forecasts. China Aoyuan Group, a mid cap getting attention partly because of its focus on the booming Greater Bay Area, shot up more than 17% over the two days. It saw its m-o-m contracted sales jump 72%, and y-o-y sales grow Shenzhen has been one of China’s hottest property markets. But it saw sales plunge during the coronavirus pandemic. Residential sales beat market expectations in June 15%, it said in a stock filing. Leading developers rallied as well: China Group Holdings, CIFI Holdings Group, and A key yardstick often used for real estate are buying new flats with the plan to sell Evergrande soared 29% over the two days, af- China Overseas Grand Oceans (COGO), all of companies suggests China property stocks are them in the second-hand market once the ter reporting its contracted sales for June shot which have buy ratings. cheap: the sector trades at an attractive 45% calendar has ticked past lock-in resell re- up 51.3% y-o-y, while its contracted sales grew However, Daiwa Capital Markets remains discount to its net asset value — its total val- strictions, says Bloomberg Intelligence an- 47.5% in the first half compared to the same neutral on the overall sector, warning of un- ue of assets minus its liabilities — per share alyst Kristy Hung. six-month period the year before. certainties in the second half of the year after (NAV), according to Jefferies’ tracking of 30 “Arbitrage opportunities are set to boost de- Country Garden Holdings ran up 9%, even the strong recovery in home sales and con- major developers. velopers’ sell-through of new home projects though its y-o-y contracted sales in June were struction in the second quarter. Jefferies expects the second quarter mo- in Shenzhen, Nanjing, Hangzhou, Chengdu, up only about 2% in June, according to Jef- Pent-up demand from virus-wary prospec- mentum to continue, predicting a 25% aver- Suzhou, Wuxi and Xi’an, as regulators’ home feries calculations, while China Vanke jumped tive buyers was a one-off, analysts Cynthia age y-o-y sales growth for the 30 Chinese de- price caps squeeze first-hand home prices at 10% on a 16% m-o-m rise in contract sales. Chan and Jonas Kan conclude, predicting velopers it monitors, and is bullish on mid significantly lower levels than second-hand Shares of Chinese developers still have housing demand will slow down. And local caps, which it expects to outperform. homes,” Hung explained in a new note. room to rise, some analysts say, after being government policies making buying easier Catalysts ahead in the second half include “Tens of thousands of buyers are flooding battered during the coronavirus pandemic have largely been in smaller cities that will likely further steps by the People’s Bank of Chi- developers’ apartment showcases in these cities that was first reported in January and led to have less impact on overall nationwide home na to make credit cheaper, and decent, above to compete for hundreds of units, in the hope a free fall in sales. sales, they say. market-expected earnings growth in the first of offloading them to the second-hand market These analysts predict residential sales will Meanwhile, home-price caps and price dis- half — an average 10% — Jefferies analysts for quick profit in three to five years as the re- continue to be strong through the second half counts could hurt the average selling price Stephen Cheung and Calvin Leung predict. sale lock-up period ends,” Hung added. “First- of the year, boosted by strong demand for flats, for Chinese developers, which are in a hurry “We remain bullish and suggest accumu- home buyers are also vying for these units, given falling mortgage rates now at 33-month lows, to catch up on year-long goals in the second lating quality mid caps,” the analysts wrote the discounts versus the second-hand market.” loosened buying restrictions, and ample sup- half, several analysts noted. in a new note. Of course, local governments — operat- ply that had been put on hold during the pan- Despite risks, the Daiwa Capital Markets an- Their top picks are mid caps China Aoyuan ing under President Xi Jinping’s dictum that demic’s peak in the country. alysts suggest investors selectively buy. Their (NAV discount 64%), KWG (NAV discount “houses are for living in, not speculation”— “Looking into [the second half of 2020], favourites are Shimao, CIFI, and KWG Group 45%) and CIFI (NAV discount 46%). could lengthen the lock-up periods or take oth- we expect 20% y-o-y sales growth for leading Holdings, among mid to large caps, and CR Meanwhile, price discounts by developers er policy steps that could cool down sales to developers,” wrote Credit Suisse analysts Land and Longfor, among large caps. — on top of local governments’ price caps and steer investment into other parts of an econ- Jianping Chen and Summer Wang. “The “Unlike some in the market, we believe that looser restrictions on who can buy — have omy still digging its way out of the damaging strong sales growth momentum should drive China property constitutes an important way led to an arbitrage opportunity for specula- pandemic and trade war with the US. Such the sector’s rally.” for investors to get China exposure and expect tors that plays to developers’ favour. possible policy moves could be a drag on de- Its top picks are China Overseas Land Invest- the sector will grow in importance to global Second-hand homes are now selling at velopers’ stocks, analysts said. — South Chi- ment (COLI), China Resources Land, Shimao investors over time,” Chan and Kan wrote. a premium to new homes, and speculators na Morning Post E

CHARTS: BLOOMBERG Shares of China developers shoot up as June sales sparkle China home sales boom, so did related stocks EDGEPROP | JULY 13, 2020 • EP5 GAINS AND LOSSES Unit at Cavenagh Gardens reaps $1.24 mil profit

EDGEPROP SINAGPORE SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The most unprofitable deal of the week occurred at Spottiswoode Residences (centre), where a two- The four-bedroom unit at Cavenagh Gardens netted a 203% profit for its seller during the period of June 23 to 28 bedroom unit was sold at a loss of $86,000

BY VALERIE KOR years ago, the 1,421 sq ft, three-bedroom velopments and AIG Real Estate and complet- room unit at Icon. The 36th-floor apartment [email protected] unit on the seventh floor was sold for $2.1 ed in 2008/2009. was purchased for $1.6 million ($1,728 psf) in million ($1,478 psf), netting a 134% profit It is linked underground to the Marina Bay April 2012 and sold for $1.55 million ($1,674 he most profitable deal during the of $1.202 million or an annualised profit of Link Mall and Marina Bay Financial Centre, psf) on June 25, which translates to a loss of period of June 23 to 28 was the sale 6% for the seller. as well as to the Raffles Place MRT Interchange $50,000 (3%), or 0.4% a year over eight years. of a 1,550 sq ft, four-bedroom unit at The Blossomvale by Wing Tai Holdings Station and the Downtown MRT Station. The 646-unit Icon was the first private, Cavenagh Gardens. The fifth-floor has a 999-year lease and comprises 220 units. In terms of non-profitable deals, the biggest high-rise residential project in the Tanjong unit reaped a 203% profit of $1.24 It is a four-minute walk from King Albert loss for the period was incurred by a two-bed- Pagar area, and was completed in 2007. It Tmillion, having been bought in April 1999 Park MRT Station on the Downtown Line room unit at Spottiswoode Residences at Spot- has two towers — one of 40 storeys and the for $610,701 ($394 psf) and sold on June 24 and within 1km of Methodist Girls’ School. tiswoode Park Road. The seller purchased the other, 46 storeys. Both are linked to Icon Vil- for $1.85 million ($1,192 psf). This translates The third top gain for the period was 926 sq ft unit on the 32nd floor at $2.006 mil- lage, a retail and F&B podium. The project is to an annualised profit of 5% over 21 years chalked up by a two-bedroom apartment meas- lion ($2,167 psf) in January 2011 and sold it located within walking distance of the Tan- for the seller. uring 893 sq ft, on the 60th floor of The Sail at at $1.92 million ($2,074 psf) on June 26, thus jong Pagar MRT Station. Cavenagh Gardens is a freehold develop- Marina Bay. It was bought for $808,000 incurring a 4% loss of $86,000 or a 0.5% an- The third most unprofitable sale during the ment along Cavenagh Road comprising three ($904 psf) in December 2004 and sold for nualised loss over 9½ years. period was for a 527 sq ft studio unit on the blocks of 172 units. Completed in 1975, the $1.74 million ($1,948 psf) on June 24, earning Spottiswoode Residences is a freehold de- fourth floor at EuHabitat. It was purchased development attempted to go on a collec- the seller a 115% profit of about $932,000, velopment by UOL Development that was for $688,446 ($1,305 psf) in September 2011 tive sale in May 2018 and January 2019, to or an annualised profit of 5% over more completed in 2014. Comprising 351 units, and sold for $650,000 ($1,232 psf) on June no avail. The freehold project is located in than 15 years. the 36-storey tower development is located 25. The loss was $38,446 (6%), or 0.7% a prime District 9. The Sail at Marina Bay is a 1,111-unit, twin near the Outram Park MRT Station in Chi- year over close to nine years. The second most profitable deal in the tower development located at Marina Boule- natown, as well as the Tanjong Pagar area The 748-unit EuHabitat by Far East Organ- same period was for a unit at The Blossom- vard. The 70-storey tower fronts Marina Bay, in District 2. ization is located at Jalan Eunos. Completed vale on Dunearn Road in District 21. Pur- while the 63-storey tower overlooks the CBD. The second highest loss incurred during in 2015, the project is located near the Kaki chased for $898,000 ($632 psf) almost 16 The project was developed jointly by City De- the same period involved a 926 sq ft, two-bed- Bukit MRT Station. E

Top gains and losses from June 23 to 28

Most profitable deals PROJECT DISTRICT AREA SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD ( SQ FT) (2020) ($ PSF) (YEARS) 1 CAVENAGH GARDENS 9 1,550 Jun 24 1,192 Apr 12, 1999 394 1,238,000 203 5 21.2 2 THE BLOSSOMVALE 21 1,421 Jun 24 1,478 Oct 15, 2004 632 1,202,000 134 6 15.7 3 THE SAIL @ MARINA BAY 1 893 Jun 24 1,948 Dec 2, 2004 904 932,250 115 5 15.6 4 MERAWOODS 23 1,001 Jun 24 1,099 Jan 1, 1998 679 420,000 62 2 22.5 5 AMANINDA 11 1,281 Jun 23 1,530 Nov 25, 2011 1,327 260,000 15 2 8.6 6 GEM RESIDENCES 12 775 Jun 25 1,716 May 27, 2016 1,424 226,500 21 5 4.1 7 THE GERANIUM 15 990 Jun 23 1,099 Jun 23, 2014 953 144,112 15 2 6.0 8 WATERBANK AT DAKOTA 14 624 Jun 25 1,730 Nov 16, 2012 1,602 80,000 8 1 7.6 9 D'NEST 18 753 Jun 26 1,088 Apr 12, 2013 1,015 55,440 7 1 7.2 10 MEADOWS @ PEIRCE 26 1,195 Jun 25 1,281 Jun 24, 2016 1,255 30,000 2 0.5 4.0 Non-profitable deals PROJECT DISTRICT AREA SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (SQ FT) (2020) ($ PSF) (YEARS) 1 SPOTTISWOODE RESIDENCES 2 926 Jun 26 2,074 Jan 5, 2011 2,167 86,000 4 0.5 9.5 2 ICON 2 926 Jun 25 1,674 Apr 23, 2012 1,728 50,000 3 0.4 8.2 3 EUHABITAT 14 527 Jun 25 1,232 Sep 12, 2011 1,305 38,446 6 0.7 8.8

Source: URA, EdgeProp Singapore Note: 1. Computed based on URA caveat data as at July 6 for private non-landed houses transacted between June 23 and 28 2. The profit and loss computation excludes transaction costs such as stamp duties. EP6 • EDGEPROP | JULY 13, 2020 COVER STORY

The biggest coffee shop in the portfolio for sale is the 4,241 sq ft unit at Bedok North Avenue 3 with an asking price of $16.3 million

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Whipping up an appetite for coffee shops

BY CECILIA CHOW ‘Fujian mian’ [Hokkien noodles] and ‘xi Blk 171 Yishun Avenue 7. They range in [email protected] can’ [Western food],” says Loo in Man- size from 1,743 sq ft to 3,907 sq ft, with darin. “In the evenings, there is usu- leases of 84 to 93 years, with effect from oo Soon Huat, owner of a corner ally a long queue at the Hokkien mee 1994/1995. coffee shop at Block 136 Bedok stall because it’s very popular for tapau Having been a coffee shop operator North Avenue 3, was sitting at the [takeaway].” for 33 years and an owner of such prop- outdoor refreshment area at about The corner HDB coffee shop is one erties for over a decade, Loo professes to 3pm on a recent Friday afternoon. of four that Loo owns together with dif- investing exclusively in this asset class. LHe is co-owner of the beverage stall, one ferent partners. At 4,241 sq ft, it is the He likes coffee shops because of their of 10 stalls in the coffee shop. biggest in his portfolio. The other three stability in terms of rental yields, which, “There are quite a few famous stalls are located at Blk 529 Ang Mo Kio Ave- he says, generally average around 4% a here — the ‘chao mian’ [fried noodles], nue 10, Blk 678 Hougang Avenue 8 and year. “They are located in the suburban HDB estates, and mainly patronised by the residents in the area,” he adds.

‘Things are improving’ No doubt, Covid-19 and the two-month- long “circuit breaker” from April to May resulted in a significant drop in F&B sales. According to the Department of Statistics, restaurants saw a plunge in F&B sales of 69.3% y-o-y in April and a 68.7% y-o-y drop in May, while cafes, food courts and other eating establish- ments saw declines of 42.7% in April and 41.4% in May. While business was “difficult” in the past four months, Loo says it has im- proved significantly since the Phase 2 reopening in mid-June. “A coffee shop that typically makes $6,000 a day may have seen business fall to over $1,000 a day during the circuit breaker,” he esti- mates. “Since the reopening, business has recovered to about $4,000 a day. It’s not back to where it was before, because The coffee shop at Yishun Avenue 7 may be just 1,743 sq ft in size, but Loo: It’s hard to find a good coffee shop. It doesn’t mean that if you feel like buying a coffee of the safe management measures. But Loo has been holding on to the asset for at least 10 years, as he likes shop, you can just go out and buy one. It’s not that easy to find. things are improving.” the vibrancy of the location EDGEPROP | JULY 13, 2020 • EP7 COVER STORY

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The interior of the coffee shop at Yishun Avenue 7, where the Huat Kee Kway Chap stall is a crowd-puller The corner coffee shop at Hougang Avenue 8 is almost 2,000 sq ft in size and on the market for $3.9 million

SAVILLS SINGAPORE According to Loo, he had offered two Coffee shops for sale ers. From there, I made enough to buy my months’ rental relief for his tenants even be- first coffee shop.” fore it became mandatory, in addition to pass- Address Tenure Total strata area No. of stalls Asking price Loo’s maiden purchase was at Blk 150 Bis- ing on the 100% property tax relief offered by han Street 11. It is located near the market Block 678 Hougang Avenue 8 92 years from About Four stalls, but $3.9 mil the government to landlords. “As a landlord #01-501 Apr 1, 1995 1,959 sq ft currently leased to and just off Braddell Road. The capital outlay you have a choice: either give your tenants one zi char stall to purchase a coffee shop is high, adds Loo. the rental relief immediately or wait until it’s Block 171 Yishun Avenue 7 93 years from About Five food stalls and $5.5 mil “Even back then, you’re looking at $3 million enforced by the government,” says Loo. “But #01-781 Jan 1, 1994 1,743 sq ft one beverage stall for an HDB coffee shop,” he says. He start- as a coffee shop operator and tenant before, I Block 529 AMK Avenue 10 85 years from About One Indian $8.8 mil ed with one coffee shop, and progressively know how difficult it is. Business was already #01-2337 Apr 1, 1994 3,907 sq ft restaurant bought the subsequent coffee shops over time. so challenging, how long can they wait? So I Block 136 Bedok North Avenue 84 years from About 10 stalls $16.3 mil gave them the two months’ rental relief im- 3 #01-140 Jan 1, 1994 4,241 sq ft Good location, potential of area mediately. We have to help each other during Of the four coffee shops in his portfolio today, this difficult period.” Loo has held the one at Yishun Avenue 7 the longest — more than 10 years. “I’ve had un- ‘Still resilient’ in addition to the 14 food courts it already HDB estate that came up nearby had very few solicited buyers in the past, but I didn’t want Has Covid-19 curbed the appetite of investors owns and manages under the Food Republic coffee shops,” she says. to sell then,” he says. “The kway chap stall and coffee shop operators for such properties? and Food Opera brands. According to HDB’s annual report for [Huat Kee Kway Chap] is very good. If you like Apparently not, says Yap Hui Yee, Savills’ di- Meanwhile, NTUC Enterprise acquired home- 2018/2018, there are a total of 930 eating es- kway chap, you have to queue for more than rector of investment sales and capital mar- grown food court operator Kopitiam Invest- tablishments under its management as at an hour. And after 12pm, it’s all sold out.” kets. “Overall, we feel that coffee shops are ment and its subsidiaries in September 2018. March 2019. Savills’ Hui reckons that only Sometimes, beyond a good location, it still very resilient, especially in the neighbour- Kopitiam controls 80 outlets, including Lau Pa slightly over 400 are available for sale in the is also about whether there is potential in hood areas. Even during the circuit breaker, Sat Festival Market in the CBD. Three years open market. the area, says Loo. He had purchased the you see residents from around the area com- earlier in 2015, coffee shop chain Broadway HDB has also stopped selling coffee shops 1,743 sq ft, coffee shop over a decade ago. ing to buy food for takeaway.” reportedly paid $200 million for all 23 coffee since 1998. “There are hardly any coffee shops It is the smallest of the coffee shops in his Loo agrees. “Coffee shop business is good shops managed by S11, which works out to for sale in the new HDB estates,” says Yap. portfolio. “But the area is quite vibrant — — even if the economy is not doing well, peo- an average of $8.7 million per coffee shop. “Supply is therefore very limited, especial- there’s a supermarket and wet market near- ple still need to eat and drink. And they will ly in prime heartland locations. As they are by too,” he adds. “And it’s the only coffee choose to dine at coffee shops because of the Limited supply tightly held, the opportunities for purchase shop in that area.” more affordable options available,” he says. Loo himself has experienced first-hand the are extremely rare.” His coffee shop at Blk 678 Hougang Av- In January this year, there were reports strength of demand for such assets. In Janu- Originally from Penang, Loo moved to Sin- enue 8 is about 1,959 sq ft. It has a prom- that a coffee shop at Jurong West had an of- ary 2017, Loo’s HDB coffee shop at Telok Blan- gapore more than 50 years ago and is now a inent road frontage, located in the heart of fer from a food and beverage company, K2 gah Drive was snapped up within a month Singapore citizen. He remembers his first cof- the HDB estate, next to Xin Min Primary F&B Holdings, for $31 million. This was the of being put up for sale by private treaty. “It fee shop: It was located at Blk 325 Woodlands School and just across the road from Hou- same record price achieved for another coffee was sold for $8.18 million, pretty close to the Street 32. He rented the entire coffee shop gang Stadium, Sports Centre and Swim- shop at Bukit Batok Street 11 back in 2015. asking price,” recounts Loo. from HDB in 1987. He operated the drinks ming Complex. Prior to that, a coffee shop at Hougang Ave- The sale of the coffee shop was brokered stall while subletting the food stalls to oth- What drew him to the corner coffee shop at nue 4 was sold for $23.8 million in 2013 — by Savills’ Yap. It was purchased by another ers. “I didn’t have the capital to buy then,” Blk 136 Bedok North Avenue 3 was its front- which was a record price then. coffee shop operator. “While the Telok Blan- he relates. “So I rented. I always operate the age along Bedok North Avenue 3 and its fac- Big F&B chains have maintained a healthy gah Drive area was relatively mature, the new drinks stall and sublet the food stalls to oth- ing, opposite Bedok North Street 1. There is appetite for such assets in recent years. In also a big HDB open air carpark at the back, February this year, Singapore-listed Kimly which makes it very accessible. The unit at announced the purchase of eight food out- Bedok North has living quarters on the sec- lets for $55.815 million. They comprised four ond level too, which is convenient for the HDB coffee shops, three industrial canteens workers who help at the stalls. and a restaurant unit. Most of the HDB coffee shops feature liv- The purchase of six of the food outlets for ing quarters on the upper floor, says Savills’ $35.5 million was completed in early June. Yap. Despite that, Singapore permanent resi- This was followed by the completion of the dents and foreigners are allowed to purchase $12.9 million purchase of the HDB coffee shop such coffee shops with living quarters, since at Blk 347 Ang Mo Kio Avenue 3 at the end of they will be tenanted out or sold as a com- June. The purchase of the last coffee shop at mercial property under HDB rules, she adds. Block 380 Clementi Avenue 5, for $7.415 mil- The coffee shop at Ang Mo Kio Avenue 10 is lion, will be completed at a later date, pend- leased to ABC Food Court, a halal food court. ing HDB approval. The space is 3,907 sq ft, and it has a promi- The completion of these HDB coffee shop nent frontage along Ang Mo Kio Avenue 10. purchases was delayed due to Covid-19 dis- After receiving unsolicited offers from var- ruptions, according to Kimly. These purchas- ious property agents, Loo has decided to put es will increase Kimly’s portfolio to 79 food his portfolio of coffee shops for sale. Savills’ outlets and 137 food stalls. Yap is marketing Loo’s portfolio. Last September, BreadTalk Group announced The coffee shops will be offered for sale that it was acquiring Food Junction for $80 individually, she adds (see table above). million. With the deal approved by the Com- “It’s hard to find a good coffee shop,” says petition and Consumer Commission of Singa- Loo. “It doesn’t mean that if you feel like buy- pore, BreadTalk took over ownership of the The 3,907 sq ft, coffee shop unit at Ang Mo Kio Avenue 10 is leased to ABC Food Court, a Halal food court ing a coffee shop, you can just go out and buy 12 Food Junction outlets it already manages, operator, and is on the market for $8.8 million one. It’s not that easy to find.” E ST-EDGE PROP TEASER AD (LEFT) W110 x H370mm

EP8 • EDGEPROP | JULY 13, 2020

DONE DEALS

Residential transactions with contracts dated June 23 to 28 Singapore — by postal district LOCALITIES DISTRICTS City & Southwest 1 to 8 Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 Balestier/MacPherson/Geylang 12 to 14 East Coast 15 and 16 Changi/Pasir Ris 17 and 18 Serangoon/Thomson 19 and 20 West 22 to 24 North 25 to 28

SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA(SQ FT) PRICE ($) ($ PSF) ($ PSF) COMPLETION DATE TYPE OF SALE

District 1 MARINA ONE RESIDENCES Apartment 99 years Jun 23 753 1,750,627 - 2,323 2017 Resale MARINA ONE RESIDENCES Apartment 99 years Jun 24 1,066 2,448,765 - 2,298 2017 Resale MARINA ONE RESIDENCES Apartment 99 years Jun 24 753 1,714,136 - 2,275 2017 Resale THE SAIL @ MARINA BAY Apartment 99 years Jun 24 893 1,740,000 - 1,948 2008 Resale District 2 ICON Apartment 99 years Jun 25 926 1,550,000 - 1,674 2007 Resale SPOTTISWOODE RESIDENCES Condominium Freehold Jun 26 926 1,920,000 - 2,074 2013 Resale District 3 ARTRA Apartment 99 years Jun 23 786 1,697,600 - 2,160 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 23 1,496 3,370,000 - 2,252 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 23 1,109 2,020,000 - 1,822 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 24 1,109 2,154,000 - 1,943 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 24 732 1,533,000 - 2,094 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 25 947 1,900,000 - 2,006 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 27 947 1,927,000 - 2,034 Uncompleted New Sale AVENUE SOUTH RESIDENCE Apartment 99 years Jun 28 947 1,872,000 - 1,976 Uncompleted New Sale QUEENS PEAK Condominium 99 years Jun 23 840 1,626,000 - 1,937 2020 New Sale STIRLING RESIDENCES Apartment 99 years Jun 23 1,055 2,095,000 - 1,986 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 23 624 1,208,000 - 1,935 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 23 506 971,000 - 1,919 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 678 1,388,000 - 2,047 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 678 1,311,000 - 1,933 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 635 1,287,000 - 2,027 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 635 1,239,000 - 1,951 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 635 1,233,000 - 1,941 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 506 987,000 - 1,951 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 24 506 979,000 - 1,935 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 25 678 1,307,000 - 1,927 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 25 624 1,220,000 - 1,954 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 26 635 1,292,000 - 2,034 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 26 624 1,238,000 - 1,983 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 26 624 1,238,000 - 1,983 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 26 624 1,226,000 - 1,964 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 27 1,346 2,389,000 - 1,776 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 27 1,055 2,023,000 - 1,918 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 27 624 1,250,000 - 2,002 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 27 506 975,000 - 1,927 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 1,346 2,462,000 - 1,830 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 1,346 2,454,000 - 1,824 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 786 1,534,000 - 1,952 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 678 1,437,000 - 2,119 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 678 1,299,000 - 1,916 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 678 1,296,000 - 1,911 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 635 1,268,000 - 1,997 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 657 1,259,000 - 1,917 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 635 1,254,000 - 1,975 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 635 1,228,000 - 1,934 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 635 1,224,000 - 1,927 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 506 995,000 - 1,967 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years Jun 28 506 991,000 - 1,959 Uncompleted New Sale District 5 KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 23 775 1,338,000 - 1,726 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 24 474 877,000 - 1,852 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 25 474 914,000 - 1,930 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 26 646 1,175,000 - 1,819 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 27 570 963,000 - 1,688 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 27 603 913,000 - 1,515 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 27 484 911,000 - 1,881 Uncompleted New Sale KENT RIDGE HILL RESIDENCES Apartment 99 years Jun 27 474 877,000 - 1,852 Uncompleted New Sale PARC CLEMATIS Terrace 99 years Jun 23 2,659 2,842,888 - 1,069 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 23 721 1,140,000 - 1,581 Uncompleted New Sale PARC CLEMATIS Terrace 99 years Jun 24 2,659 2,795,888 - 1,052 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 25 710 1,215,000 - 1,710 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 25 721 1,191,000 - 1,651 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 26 710 1,158,000 - 1,630 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 26 689 1,121,000 - 1,627 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 26 689 1,118,000 - 1,623 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 26 506 852,000 - 1,684 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 27 893 1,497,000 - 1,676 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 27 710 1,163,000 - 1,637 Uncompleted New Sale PARC CLEMATIS Terrace 99 years Jun 28 2,659 2,837,888 - 1,067 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 1,464 2,480,000 - 1,694 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 1,292 2,138,000 - 1,655 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 1,076 1,801,000 - 1,673 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 1,044 1,753,000 - 1,679 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 1,044 1,728,000 - 1,655 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 893 1,509,000 - 1,689 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 893 1,453,000 - 1,626 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 710 1,168,000 - 1,644 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 710 1,166,000 - 1,641 Uncompleted New Sale PARC CLEMATIS Apartment 99 years Jun 28 689 1,127,000 - 1,636 Uncompleted New Sale TWIN VEW Apartment 99 years Jun 27 1,249 1,886,000 - 1,510 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 23 764 1,148,820 - 1,503 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 23 764 1,135,700 - 1,486 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 24 764 1,138,980 - 1,490 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 25 764 1,142,260 - 1,495 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 26 958 1,425,980 - 1,489 Uncompleted New Sale WHISTLER GRAND Apartment 99 years Jun 27 441 710,940 - 1,611 Uncompleted New Sale District 7 MIDTOWN BAY Apartment 99 years Jun 24 474 1,403,700 1,367,700 2,888 Uncompleted New Sale MIDTOWN BAY Apartment 99 years Jun 26 474 1,628,100 1,592,100 3,362 Uncompleted New Sale District 8 RITZ @ FARRER Apartment Freehold Jun 24 872 1,150,000 - 1,319 2017 Resale District 9 8 SAINT THOMAS Condominium Freehold Jun 25 1,302 3,600,000 - 2,764 2018 Resale 8 SAINT THOMAS Condominium Freehold Jun 25 872 2,350,000 - 2,695 2018 Resale CAVENAGH GARDENS Apartment Freehold Jun 24 1,550 1,848,000 - 1,192 Unknown Resale KOPAR AT NEWTON Apartment 99 years Jun 24 1,055 2,353,000 - 2,231 Uncompleted New Sale ST-EDGE PROP TEASER AD (RIGHT) W110 x H370mm

EDGEPROP | JULY 13, 2020 • EP9

DONE DEALS

Residential transactions with contracts dated June 23 to 28

SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA(SQ FT) PRICE ($) ($ PSF) ($ PSF) COMPLETION DATE TYPE OF SALE

KOPAR AT NEWTON Apartment 99 years Jun 24 915 1,980,000 - 2,164 Uncompleted New Sale KOPAR AT NEWTON Apartment 99 years Jun 27 689 1,666,000 - 2,418 Uncompleted New Sale KOPAR AT NEWTON Apartment 99 years Jun 27 689 1,651,000 - 2,397 Uncompleted New Sale KOPAR AT NEWTON Apartment 99 years Jun 28 689 1,669,000 - 2,423 Uncompleted New Sale THE AVENIR Condominium Freehold Jun 23 2,411 8,100,000 - 3,359 Uncompleted New Sale District 10 ASTRID MEADOWS Condominium Freehold Jun 23 1,378 2,480,000 - 1,800 1990 Resale FOURTH AVENUE RESIDENCES Apartment 99 years Jun 24 484 1,068,000 - 2,205 Uncompleted New Sale FOURTH AVENUE RESIDENCES Apartment 99 years Jun 25 484 1,118,000 - 2,308 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jun 24 1,496 3,988,000 - 2,665 Uncompleted New Sale LEEDON GREEN Condominium Freehold Jun 27 818 2,032,500 - 2,485 Uncompleted New Sale LEMON AVENUE Terrace Freehold Jun 26 2,067 3,670,000 - 1,779 1975 Resale ONE HOLLAND VILLAGE RESIDENCES Apartment 99 years Jun 23 797 2,249,441 2,226,946 2,796 Uncompleted New Sale PINETREE CONDOMINIUM Condominium Freehold Jun 26 1,163 1,700,000 - 1,462 1996 Resale THE HYDE Condominium Freehold Jun 24 1,249 3,541,230 - 2,836 Uncompleted New Sale THE HYDE Condominium Freehold Jun 25 1,130 3,130,000 - 2,769 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jun 25 1,593 4,443,000 - 2,789 Uncompleted New Sale VAN HOLLAND Condominium Freehold Jun 25 1,593 4,390,650 - 2,756 Uncompleted New Sale District 11 AMANINDA Condominium Freehold Jun 23 1,281 1,960,000 - 1,530 2005 Resale NEU AT NOVENA Apartment Freehold Jun 23 1,302 3,305,000 - 2,538 Uncompleted New Sale NEU AT NOVENA Apartment Freehold Jun 23 818 2,190,000 - 2,677 Uncompleted New Sale PULLMAN RESIDENCES NEWTON Apartment Freehold Jun 28 463 1,234,000 - 2,666 Uncompleted New Sale District 12 GEM RESIDENCES Condominium 99 years Jun 25 775 1,330,000 - 1,716 2019 Resale JUI RESIDENCES Apartment Freehold Jun 27 710 1,330,000 - 1,872 Uncompleted New Sale District 13 PARK COLONIAL Condominium 99 years Jun 23 1,012 1,909,000 - 1,887 Uncompleted New Sale PARK COLONIAL Condominium 99 years Jun 27 980 1,864,000 - 1,903 Uncompleted New Sale SENNETT ESTATE Terrace Freehold Jun 25 2,949 3,025,000 - 1,026 1955 Resale THE TRE VER Condominium 99 years Jun 24 1,098 1,746,000 - 1,590 Uncompleted New Sale THE WOODLEIGH RESIDENCES Apartment 99 years Jun 23 958 1,796,000 - 1,875 Uncompleted New Sale THE WOODLEIGH RESIDENCES Apartment 99 years Jun 23 592 1,100,000 - 1,858 Uncompleted New Sale THE WOODLEIGH RESIDENCES Apartment 99 years Jun 25 1,076 2,400,000 - 2,230 Uncompleted New Sale THE WOODLEIGH RESIDENCES Apartment 99 years Jun 28 850 1,585,000 - 1,864 Uncompleted New Sale District 14 ARENA RESIDENCES Apartment Freehold Jun 23 883 1,659,000 - 1,880 Uncompleted New Sale ARENA RESIDENCES Apartment Freehold Jun 25 807 1,551,000 - 1,921 Uncompleted New Sale EUHABITAT Condominium 99 years Jun 25 527 650,000 - 1,232 2015 Resale PARC ESTA Apartment 99 years Jun 23 840 1,333,000 - 1,588 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 25 1,227 2,071,000 - 1,688 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 25 1,227 2,047,000 - 1,668 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 25 1,023 1,713,000 - 1,675 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 26 1,227 2,083,000 - 1,698 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 26 1,033 1,726,000 - 1,670 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 26 1,023 1,708,000 - 1,670 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 26 1,023 1,615,000 - 1,579 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 26 915 1,515,000 - 1,656 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 27 926 1,532,000 - 1,655 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 27 915 1,510,000 - 1,650 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 27 743 1,310,000 - 1,764 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 27 527 1,005,000 - 1,905 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 28 1,033 1,781,000 - 1,724 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 28 1,033 1,731,000 - 1,675 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 28 743 1,306,000 - 1,758 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 28 743 1,232,000 - 1,659 Uncompleted New Sale PARC ESTA Apartment 99 years Jun 28 549 911,000 - 1,659 Uncompleted New Sale REZI 24 Apartment Freehold Jun 26 495 798,300 - 1,612 Uncompleted New Sale THE ANTARES Apartment 99 years Jun 23 452 834,000 - 1,845 Uncompleted New Sale WATERBANK AT DAKOTA Condominium 99 years Jun 25 624 1,080,000 - 1,730 2013 Resale District 15 FERNWOOD TOWERS Condominium Freehold Jun 24 1,647 1,900,000 - 1,154 1994 Resale MEYER MANSION Apartment Freehold Jun 24 2,099 5,262,444 5,194,444 2,475 Uncompleted New Sale JOO CHIAT AVENUE Terrace Freehold Jun 24 1,798 2,450,000 - 1,361 1993 Resale JOO CHIAT AVENUE Terrace Freehold Jun 26 1,776 2,338,000 - 1,317 1968 Resale SEASIDE RESIDENCES Apartment 99 years Jun 23 506 992,800 - 1,962 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jun 24 678 1,378,000 - 2,032 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jun 24 560 1,025,000 - 1,831 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jun 25 1,087 2,168,000 - 1,994 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jun 26 1,206 2,108,800 - 1,749 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Jun 27 678 1,335,800 - 1,970 Uncompleted New Sale THE GERANIUM Condominium Freehold Jun 23 990 1,088,000 - 1,099 2006 Resale District 16 CASA FLORA Condominium Freehold Jun 26 1,561 1,400,000 - 897 1987 Resale District 17 CHANGI GROVE Detached Freehold Jun 26 6,254 6,500,000 - 1,040 Unknown Resale PARC KOMO Apartment Freehold Jun 26 969 1,463,000 - 1,510 Uncompleted New Sale THE JOVELL Condominium 99 years Jun 24 678 839,000 - 1,237 Uncompleted New Sale THE JOVELL Condominium 99 years Jun 27 1,001 1,177,000 - 1,176 Uncompleted New Sale THE JOVELL Condominium 99 years Jun 28 1,033 1,265,000 - 1,224 Uncompleted New Sale THE JOVELL Condominium 99 years Jun 28 904 1,042,000 - 1,152 Uncompleted New Sale THE JOVELL Condominium 99 years Jun 28 721 944,000 - 1,309 Uncompleted New Sale District 18 COCO PALMS Condominium 99 years Jun 23 1,259 1,681,000 - 1,335 2018 Resale D’NEST Condominium 99 years Jun 26 753 820,000 - 1,088 2017 Resale THE TAPESTRY Condominium 99 years Jun 23 603 898,720 - 1,491 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 25 441 692,900 - 1,570 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 26 926 1,277,560 - 1,380 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 26 603 898,720 - 1,491 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 26 603 873,180 - 1,449 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 27 926 1,199,610 - 1,296 Uncompleted New Sale THE TAPESTRY Condominium 99 years Jun 27 603 902,820 - 1,498 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 23 657 940,000 - 1,432 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 23 678 933,000 - 1,376 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 1,711 2,104,000 - 1,229 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 1,722 2,048,000 - 1,189 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 1,238 1,576,000 - 1,273 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 1,033 1,375,000 - 1,331 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 1,033 1,300,000 - 1,258 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 24 678 929,000 - 1,370 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 25 1,281 1,627,000 - 1,270 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 25 1,238 1,545,000 - 1,248 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 25 678 945,000 - 1,394 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 25 678 915,000 - 1,349 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 25 592 847,000 - 1,431 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 26 1,722 2,088,000 - 1,212 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 26 1,722 2,037,000 - 1,183 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 26 915 1,216,000 - 1,329 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 26 592 865,000 - 1,461 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 1,281 1,622,000 - 1,266 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 1,238 1,585,000 - 1,280 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 883 1,169,000 - 1,324 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 678 955,000 - 1,408 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 678 934,000 - 1,377 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 27 678 927,000 - 1,367 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,722 2,105,000 - 1,222 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,722 1,920,000 - 1,115 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,270 1,735,000 - 1,366 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,033 1,441,000 - 1,395 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,033 1,343,000 - 1,300 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 1,033 1,322,000 - 1,279 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 850 1,194,000 - 1,404 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 678 979,000 - 1,444 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 678 970,000 - 1,430 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 678 955,000 - 1,408 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 657 940,000 - 1,432 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 678 940,000 - 1,386 Uncompleted New Sale TREASURE AT TAMPINES Condominium 99 years Jun 28 592 856,000 - 1,446 Uncompleted New Sale CONTINUES ON PAGE EP10 EP10 • EDGEPROP | JULY 13, 2020 SPOTLIGHT Largest penthouse at 15 Holland Hill sold for $15 mil

PEAK OPAL BY VALERIE KOR [email protected]

5,425 sq ft simplex penthouse at new condominium project 15 Hol- land Hill was sold for $15 million ($2,765 psf) on June 22. Prior to this, another penthouse at 15 Hol- Aland Hill, which is 5,134 sq ft in size, was sold for $13.8 million ($2,692 psf) in April. The simplex penthouse on the 12th floor is the largest of three in the 59-unit, luxury condo. It has five bedrooms, five bath- rooms, large living and dining areas, as well as a balcony with a pond. Additionally, it will be served by a dedicated carpark lot and private lift lobby. The unit will enjoy panoramic views of the surrounding greenery and the city. The sale of the penthouse was brokered by ERA Realty Network. According to ERA’s The penthouse will enjoy panoramic views of the surrounding greenery and the city COO Doris Ong, the buyer was attracted to the spacious layout and private lift ac- study units there start from 1,292 sq ft, Apart from the two penthouses that were icated to greenery, with landscaping done cess, as well as the exclusivity of the de- three-bedroom units start from 1,798 sq ft, sold, a 2,497 sq ft, four-bedder at 15 Hol- by international firm Ramboll Studio Drei- velopment. and four-bedroom units start from 2,303 sq land Hill was also sold, for $7.65 million seitl, which Kheng Leong also engaged for The freehold 15 Holland Hill is expected ft. Three Garden Maisonettes on the ground ($3,063 psf) on June 8. the landscaping of Meyerhouse, its luxury to receive TOP in December 2022. The lux- floor range between 4,542 sq ft and 5,221 Developed by Kheng Leong, the private 56-unit development on Meyer Road. Mey- ury development consists of three 12-sto- sq ft, and the three penthouses are between property arm of the Wee family of billion- erhouse is developed jointly by Kheng Le- rey towers. The smallest two-bedroom plus 4,973 sq ft and 5,425 sq ft. aire banker Wee Cho Yaw of United Over- ong and UOL Group. The design architect seas Bank, 15 Holland Hill is built on the for 15 Holland Hill is P&T Group. PEAK OPAL site of the former Olina Lodge. Kheng Le- 15 Holland Hill is a short drive from the ong had purchased the project en bloc for F&B outlets and amenities at Holland Vil- $230.9 million in April 2018. lage, Chip Bee Gardens and Dempsey Hill. More than two-thirds of the 84,000 sq ft, It is also a 10-minute drive to Orchard Road, freehold site at 15 Holland Hill will be ded- the CBD and one-north. E

URA REALIS Units transacted at 15 Holland Hill

Sale date (2020) Area (sq ft) Price ($) Price ($ psf)

Jun 22 5,425 15,000,000 2,765 Jun 8 2,497 7,650,000 3,063

More than two thirds of the land area will be dedicated to greenery at 15 Holland Hill Apr 2 5,134 13,821,000 2,692

DONE DEALS

Residential transactions with contracts dated June 23 to 28

SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION SALE DATE LAND AREA/ TRANSACTED NETT PRICE UNIT PRICE COMPLETION PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE PROJECT NAME PROPERTY TYPE TENURE (2020) FLOOR AREA (SQ FT) PRICE ($) ($ PSF) ($ PSF) DATE TYPE OF SALE District 19 District 20 AFFINITY AT SERANGOON Apartment 99 years Jun 26 624 1,050,000 - 1,682 Uncompleted New Sale HORIZON GARDENS Terrace 99 years Jun 23 2,906 1,650,000 - 568 2002 Resale AFFINITY AT SERANGOON Apartment 99 years Jun 26 560 804,000 - 1,436 Uncompleted New Sale District 21 AFFINITY AT SERANGOON Apartment 99 years Jun 27 732 1,150,380 - 1,572 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 24 1,109 1,747,170 - 1,576 Uncompleted New Sale AFFINITY AT SERANGOON Terrace 99 years Jun 28 2,336 2,750,000 - 1,177 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 24 743 1,352,770 - 1,821 Uncompleted New Sale FOREST WOODS Condominium 99 years Jun 26 1,023 1,619,046 - 1,583 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 24 743 1,201,640 - 1,618 Uncompleted New Sale HAUS@SERANGOON GARDEN Terrace 99 years Jun 25 1,615 2,400,000 - 1,486 2016 Resale DAINTREE RESIDENCE Condominium 99 years Jun 26 1,055 1,788,000 - 1,695 Uncompleted New Sale PIERMONT GRAND EC 99 years Jun 25 1,432 1,538,190 - 1,074 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 27 1,044 1,744,400 - 1,671 Uncompleted New Sale PIERMONT GRAND EC 99 years Jun 26 840 960,660 - 1,144 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 28 1,055 1,813,520 - 1,719 Uncompleted New Sale PIERMONT GRAND EC 99 years Jun 28 840 992,900 - 1,183 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 28 1,055 1,772,970 - 1,681 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years Jun 23 1,087 1,369,000 - 1,259 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 28 1,055 1,706,620 - 1,618 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years Jun 24 915 1,274,000 - 1,392 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 28 700 1,196,110 - 1,710 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years Jun 28 915 1,250,000 - 1,366 Uncompleted New Sale DAINTREE RESIDENCE Condominium 99 years Jun 28 678 1,119,760 - 1,651 Uncompleted New Sale SENGKANG GRAND RESIDENCES Apartment 99 years Jun 24 474 846,400 - 1,787 Uncompleted New Sale MAYFAIR MODERN Condominium 99 years Jun 23 517 968,000 - 1,874 Uncompleted New Sale SENGKANG GRAND RESIDENCES Apartment 99 years Jun 27 474 841,600 - 1,777 Uncompleted New Sale THE BLOSSOMVALE Condominium 999 years Jun 24 1,421 2,100,000 - 1,478 1998 Resale THE FLORENCE RESIDENCES Apartment 99 years Jun 23 1,012 1,479,000 - 1,462 Uncompleted New Sale VIEW AT KISMIS Apartment 99 years Jun 25 893 1,572,000 - 1,760 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 23 936 1,335,000 - 1,426 Uncompleted New Sale District 23 THE FLORENCE RESIDENCES Apartment 99 years Jun 23 624 976,000 - 1,563 Uncompleted New Sale BUKIT 828 Apartment Freehold Jun 28 1,335 1,982,000 - 1,485 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 23 635 958,000 - 1,508 Uncompleted New Sale MERAWOODS Condominium 999 years Jun 24 1,001 1,100,000 - 1,099 1999 Resale THE FLORENCE RESIDENCES Apartment 99 years Jun 23 624 953,000 - 1,526 Uncompleted New Sale MONT BOTANIK RESIDENCE Condominium Freehold Jun 27 947 1,564,200 - 1,651 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 24 484 787,000 - 1,625 Uncompleted New Sale District 26 THE FLORENCE RESIDENCES Apartment 99 years Jun 25 1,270 1,847,000 - 1,454 Uncompleted New Sale MEADOWS @ PEIRCE Condominium Freehold Jun 25 1,195 1,530,000 - 1,281 2012 Resale THE FLORENCE RESIDENCES Apartment 99 years Jun 25 721 1,144,000 - 1,586 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 25 474 734,000 - 1,550 Uncompleted New Sale District 27 THE FLORENCE RESIDENCES Apartment 99 years Jun 26 635 986,000 - 1,553 Uncompleted New Sale PARC CANBERRA EC 99 years Jun 26 947 1,051,000 - 1,110 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 26 635 986,000 - 1,553 Uncompleted New Sale PLATINA GARDENS Terrace Freehold Jun 23 3,950 1,950,000 - 494 2007 Resale THE FLORENCE RESIDENCES Apartment 99 years Jun 27 527 803,000 - 1,522 Uncompleted New Sale District 28 THE FLORENCE RESIDENCES Apartment 99 years Jun 28 1,023 1,402,000 - 1,371 Uncompleted New Sale MIMOSA TERRACE Terrace Freehold Jun 24 1,615 2,425,000 - 1,502 2004 Resale THE FLORENCE RESIDENCES Apartment 99 years Jun 28 484 727,000 - 1,501 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 28 484 725,000 - 1,497 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 28 484 725,000 - 1,497 Uncompleted New Sale THE FLORENCE RESIDENCES Apartment 99 years Jun 28 484 712,000 - 1,470 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Jun 23 689 1,108,700 - 1,609 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Jun 26 1,163 1,634,600 - 1,406 Uncompleted New Sale Source: URA Realis. Updated July 6, 2020. THE GARDEN RESIDENCES Apartment 99 years Jun 27 1,119 1,717,300 - 1,534 Uncompleted New Sale EC stands for executive condominium THE GARDEN RESIDENCES Apartment 99 years Jun 27 786 1,248,600 - 1,589 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years Jun 27 570 833,200 - 1,460 Uncompleted New Sale DISCLAIMER: THE GARDEN RESIDENCES Apartment 99 years Jun 28 452 726,900 - 1,608 Uncompleted New Sale The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly THE GAZANIA Condominium Freehold Jun 25 904 1,882,000 - 2,081 Uncompleted New Sale or indirectly from the use of, or reliance on, the information provided therein. EDGEPROP | JULY 13, 2020 • EP11 UNDER THE HAMMER Mortgagee sale of three industrial units at T99 in Tuas

PICTURES: SOON HOCK GROUP BY TIMOTHY TAY [email protected]

hree units in T99, an industrial development at Tuas South Avenue 10, are being marketed by the auction team at Colliers International this month. All three are mortgagee sales and Tlisted for sale by private treaty. The properties — which can be bought individually — comprise a 7,825 sq ft unit that has a guide price of $1.91 million ($244 psf), a 7,664 sq ft unit going for $1.68 million ($219 psf) and a 8,148 sq ft unit selling from about $1.5 million ($184 psf). Completed in 2016, T99 is a Business 2 industrial project by Soon Hock Group, a commercial and industrial developer. It sits on a 30–development that sits on a 30–year All three industrial units at T99 are being offered in a mortgagee sale T99 is a B2 industrial development that was completed in 2016 leasehold site that includes 99 factory units and a 40 ft container ramp up access to each ators have preferred to buy industrial property cially so for properties with shorter, 30–year look amid the ongoing Covid–19 pandemic, floor. Located within the western region of to run their operations as opposed to renting leases. “Some have even been forced to sell Choo says there are also buyers with ade- the island, T99 is close to the Tuas Biomed- the space, says Choo. These businesses are at close to 50% discount from their purchase quate cash reserves who are also willing to ical Park and the upcoming Tuas Mega Port, also fleeing relatively high rents as a result price,” Choo explains. pick up properties on the cheap. which is expected to open in phases from 2021. of over-speculative industrial property buy- Over the past three years, Choo has seen As a result, the Colliers auction team has “The three units at T99 come with ramp ing from 2010 to 2013, he adds. a small number of investors return to the in- seen enquiries for affordable industrial units up access and a high ceiling of about sev- “Successive rounds of property cooling dustrial market to capitalise on the discount- go up by about 30%–50% over the past three en metres. They are custom built to handle measures on the local residential market at ed prices. “They are more selective, going for years. Choo also notes that buyers tend to heavy manufacturing operations. It is also the time caused some cash–rich investors properties with existing leases and relative- focus on private treaty and bank sale units uncommon to find available industrial units to redirect their capital to industrial proper- ly steady rental yields,” he says, but adds and are more likely to close deals for units in Tuas that are over 7,000 sq ft. This makes ties. While this drove up prices, it was not that investors are competing with end–us- that are priced close to $1 million. them sizeable to house manufacturing op- sustainable as the market could not absorb ers who are also capitalising on the fall in Choo expects the three industrial units erations, while remaining relatively afforda- the correspondingly high rents,” says Choo. prices to pick up affordable properties for at T99 to attract factory operators looking ble,” says Samuel Choo, associate director Some investors without adequate hold- their operations. for a sizeable space for their operations at Colliers International. ing power have also been forced to sell While some buyers are holding off pur- that is priced affordably, so as to keep their Over the past few years, some factory oper- their properties at a discount. This is espe- chases given the uncertain economic out- costs down. E SUBSCRIBE NOW

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S bit.ly/readtheedge T EP12 • EDGEPROP | JULY 13, 2020 PROPHUNT CLASSIFIEDS Properties for Sale  Scan QR code for more details  For sales enquiries, please contact [email protected] or call 6232-8820

$3,180,000 $6,500,000 $2,560,000 $4,100,000 Terrace House Detached House Terrace House Semi-Detached House D19 KOVAN ESTATE | Freehold D20 THOMSON ESTATE | Freehold D28 SUNRISE VILLAS ESTATE | Freehold D19 TAI KENG GARDENS ESTATE | Freehold Built-Up(sqft): 3,900 | Land(sqft): 2,034 Built-Up(sqft): 5,500 | Land(sqft): 4,066 Built-Up(sqft): 2,000 | Land(sqft): 1,712 Built-Up(sqft): 4,200 | Land(sqft): 3,884 PSF: $1,563 PSF: $1,599 PSF: $1,495 PSF: $1,056 Reconstructed 3 storey terrace with 5 bedrooms Rebuilt 2.5 storey detached house just minutes Renovated cosy freehold terrace at tranquil Sunrise Value-for-money 2.5 storey Semi-D with both large near Kovan MRT and many daily conveniences walk away from Thomson Plaza and upcoming Villa. The modern interior, lifestyle concept and land and large build-up area! 5 ensuite bedrooms like Heartland Mall, wet market, food centre, Upp Thomson MRT station. Super wide frontage, abundance of parks nearby and affordable price will complement a huge family and dining hall, dry famed eateries. Tastefully renovated and very well elevated position that provides unblocked views, and appeal to small families or couples upgrading to and wet kitchen and parking space for 2-3 cars. maintained, this is ideal for upgraders who want a a spacious interior with 6+1 rooms make this an ideal their first landed property. Proximity to several reputable schools and Bartley move-in condition home. choice for multi-generation families. MRT tops the icing on the cake of this rare gem.

Willi Ching Willi Ching Willi Ching Willi Ching HUTTONS ASIA PTE LTD HUTTONS ASIA PTE LTD HUTTONS ASIA PTE LTD HUTTONS ASIA PTE LTD R014380H R014380H R014380H R014380H  65 9431 5145  65 9431 5145  65 9431 5145  65 9431 5145

$6,450,000 $3,750,000 $3,990,000 $2,890,000 Semi-Detached House Terrace House Terrace House Terrace House D15 MOUNTBATTEN ESTATE | Freehold D19 KOVAN ESTATE | Freehold D19 SERANGOON ESTATE | Freehold D16 UPP EAST COAST ESTATE | Freehold Built-Up(sqft): 6,867 | Land(sqft): 2,840 Built-Up(sqft): 5,350 | Land(sqft): 1,710 Built-Up(sqft): 3,600 | Land(sqft): 2,790 Built-Up(sqft): 2,200 | Land(sqft): 1,734 PSF: $2,271 PSF: $2,222 PSF: $1,430 PSF: $1,667 Rebuilt masterpiece at prime Katong, near to So convenient. So well built. So nice! Brand new Rare corner terrace near NEX Mall & Serangoon Experience idyllic charm in the East with this upcoming Tanjong Katong MRT. 4 storeys of 3.5 storey terrace with 5+1 ensuite bedrooms and MRT interchange for sale! Freehold, 3.5 storeys, 5+1 charming and well renovated 2 storey terrace with architectural wonder, each with a unique spacial private lift and 2 parking lots. Face north. Walking rooms, park up to 3 cars, modern building design. 4+1 rooms (including a granny’s and maid’s room on concept. Functional design marries the stylish distance to Kovan MRT, Kovan market, food centre, Family rooms, enclosed balconies converted into level 1). The ‘sleepy’ neighbourhood will soon be well ID perfectly. Strictly for the discerning. But Heartland Mall, 24-hr NTUC, gym, etc. Ideal for a gym and family lounge, and a roof terrace for connected to other parts of S’pore via 2 MRT stations appreciated by all family profiles. Simply a Must- multi-generation families. gatherings make this an ideal family home. just minutes walk away. View.

$9,280,000 $4,200,000 $5,200,000 $12,000,000 Semi-Detached House Terrace House Semi-Detached House Detached House D15 KATONG ESTATE | Freehold D11 VANDA ESTATE | Freehold D16 PEAKVILLE ESTATE | Freehold D11 VANDA ESTATE | Freehold Built-Up(sqft): 4,353 | Land(sqft):1,763 Built-Up(sqft): 7,080 | Land(sqft): 3,613 Built-Up(sqft):3,552 | Land(sqft): 5,335 Built-Up(sqft): 10,580 | Land(sqft): 4,672 PSF: $2,382 PSF: $2,569 PSF: $975 PSF: $2,568 Brand new 2.5 storey Semi-D with pool, lift, 5+1 Brand new 3.5 storey terrace with lift at Katong. Majestic rebuilt 3 storey Semi-D with 6+1 ensuite Stunning brand new 3.5 storey (with basement) rooms at prime Vanda vicinity. Located in a bungalow Stunning glass façade captures the essence of this bedrooms is an ideal home for big families. Carefully detached house at exclusive Linden vicinity oozes zone, surrounded by greenery and GCBs, this house well built house, filled with quality materials like De- curated huge Chilean marble adorns the floors of this sophistication and ‘wow’ appeal. Designed by offers unmatched privacy and exclusivity amidst Detriche, Brandt, Bravat, Geberit. Grigo Gerogina, modern resort, with every floor spacious and airy for reknowned architect, built using superior materials a luxurious abode built with superior materials, Le Grand, etc. The superior built quality has to be the privacy and communal gatherings of everyone in including appliances from V-Zug, this luxurious worksmanship and functionality. admired in person! the family. masterpiece is a must-view for the discerning.