Three of the top-end residential development situated within close proximity to the renowned Orchard area was sold recently, amounting to S$190.5 million combined price. These residential properties was sold to three different developers that are going to take over the development. They were simultaneously launched on October and the tender ended last November 2.
The property that are situated at 8 Hullet Road, 3 Cuscaden Walk and 120 Grange Road was bought by three different renowned developers. It has a guide amount of S$185 million by the time it were launched.
The Hullet Pte Ltd, let by Patrick Kho of the well-known Lian Huat Group, acquired the property at 8 Hullet Road for the price of S$2,073 psf. This property has the smallest floor area among the group which measures up to 10,733 square feet and is comprised of 10-storey block with 18 apartments during the early 200s. It have been bought with a total amount of S$38.2 million.
The property at 120 Grange Road was sold for S$48.5 million and was bought by a subsidiary of Roxy Pacific Holdings. It has a strata area of 26,350 square feet. This property is comprised of 18 flats housed in an 11-storey block with a land area of 15,780 square feet.
The property at Cuscaden Walk was purchased at S$1,826 per square foot per plot ratio (psf ppr), with a total amount of S$103.8 million. It was bought by the SL Capital Pte Ltd, an affiliate that is led by the Sustained Land Pte Ltd. With a total land area of 21,560 square feet, it was designated as residential and has an estimated S$6.43 million development charge which is payable upon its redevlopment.
The thought of buying top-end residential properties has since been increased. A lot of interested parties are asking for any available properties that are up for sale. Having these three proeprties sold is a result of a competitive bidding process that takes place.