Over 60 units of Goodwood Residence sold (Mar2010)
Malaysian tycoon Quek Leng Chan of GuocoLand has sold 60 units at the freehold Goodwood Residence project along Bukit Timah Road over the past two weekends, with prices ranging from $2,355 psf to $2,555 psf.
According to statutory filings of Guoco-Land to the Singapore Exchange, Mr. Quek picked up the biggest penthouse in the 12-storey project for $18.8 million. His sister, Guat Kim, also purchased an apartment unit on the eighth floor for $6.03 million and their brother, Leng Hai, bought another penthouse for more than $13.8 million.
However, it was a mixed result at Sentosa Cove last week for the developers of three 99-year leasehold condo projects, as they sold the units to interested buyers who were comparing the qualities of the three projects against its pricing.
Out of the three projects at Sentosa Cove, the best sales result was achieved by the joint venture project of Ho Bee and IOI, wherein it sold 25 of the 40 released units for its 151-unit The Seascape condo project. Compared with the other two projects, The Seascape project has a better orientation, as it directly faces the sea and is situated in Sentosa Cove's choicier Southern Residential Precinct.
The units sold at The Seascape comprise of 18 three-room units, six four-room units, and a penthouse. The majority of the buyers were Singaporeans but a quarter of the units were snapped up by foreigners, including those from Hong Kong, Malaysia and the US.
The 25 units sold worked out to around $2,700 psf and achieved a price ranging between $2,619 psf and $2,880 psf. The only penthouse sold was a 4,252-sq-ft four-room unit located at the sixth floor. It was sold for nearly $12million.
City Developments Ltd (CDL) also sold 14 of the 56 released units for its 228-unit The Residences at W Singapore Sentosa Cove project. The units worked out to about $2,500 psf to $3,000 psf and comprise of two- to four-room units and penthouses.
Meanwhile, Lippo Group relaunched Marina Collection last week. It received interest from potential homebuyers but these have yet to be translated into sales. Some of the potential buyers tried to seek discounts.
One property agent said, “This is the first time buyers have a choice of three new projects from developers at Sentosa Cove, whereas in the past, it was usually one launch at a time. So for now, buyers have the luxury of choice and the time to think about their purchase.”
Interested buyers who visited the showflat of Goodwood Residence were drawn to the greenery of the location and the proposed development, according to Trina Loh, managing director of GuocoLand Singapore.
Goodwood Residence shares a 150-metre boundary with the Goodwood Hill tree conservation area, and it will also have 500 trees planted to add on to the existing 58 preserved trees. Two tennis courts, an Olympic-size swimming pool, greenwalls and a manicured lawn of about 60 metres by 30 metres are among the other features of the project.
GuocoLand has previewed the 12-storey project this month both in Singapore and Hong Kong. Out of the 60 units sold, 40 percent were snapped up by foreigners, including Indonesians, Australians, Malaysians, Indians and Europeans.
