PROPERTY PERSONALISED

Visit EdgeProp.sg to find properties, research market trends and read the latest news The week of May 27, 2019 | ISSUE 883-105

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

CapitaLand’s M&A will give it access to Ascendas-Singbridge’s Changi Business Park

Sentosa Cove home with ‘triple views’ for $19.8 mil

Located at Lakeshore View, the bungalow boasts a 39.2m frontage,with direct views of the golf course, the lake and the sea from every bedroom.

Turn to our Cover Story on Pages 6 & 7.

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The exterior of the tree-lined property at Lakeshore View

HDB WatchHDB launches 6,753

flats for saleep2

Industry Insight Outlook for Singapore’s

commercial property market upbeat ep3

Superhomes‘Copper House’ loses

some of its lustreep4

Under the Hammer HDB shophouse in

Ang Mo Kio on sale at $2.6 mil ep11

EP2 • EDGEPROP | MAY 27, 2019

PROPERTY BRIEFS

EDITORIALeditor | Cecilia Chowdeputy editor | Amy Tansenior writer | Timothy Taywriters | Bong Xin Ying, Charlene Chinhead, copy editing | Pek Tiong Geecopy editor | Rachel Hengphoto editor | Samuel Isaac Chuaphotographer | Albert Chuaeditorial coordinator | Yen Tandesigner | Kim Sy

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Corner HDB shophouse in Bishan going for $17m A corner HDB shophouse at Block 282, Bishan Street 22, is up for sale at a guide price of $17m.

The retail shop spans 4,306 sq ft, and draws “high footfall” from HDB residents and Sin Ming Industrial Estate nearby, accord-ing to WTG Property, which is marketing the property.

The property is leased to a single master tenant who man-ages the various shops. Tenant mix includes a food court, Chi-

nese medical hall, and house-hold minimart. Prospective buy-ers may choose to continue with the lease when the tenancy ex-pires next year, subject to HDB’s approval, says WTG Property.

The expression of interest exercise for the property closes on June 5 at 4pm.

Crown Group plans waterfront city in Jakarta Australian developer Crown Group is planning to build a luxury waterfront residential

development in the Indonesian capital, Jakarta, at the Ancol seaside bay.

The AUD 1 billion ($947 mil-lion) development comprises 2,000 luxury homes spread across a series of towers on a 4.7ha site. It will also have its own marina and commercial precinct. There will be 9,000 sq m (96,900 sq ft) of retail boutiques, restaurants and bars, as well as a network of outdoor terraces, boulevards and jogging tracks.

Sydney-based Crown Group signed an agreement with Indo-nesian government organisation PT Pembangunan Jaya Ancol ear-ly this year to create the verti-cal city. Plans will be presented to the Indonesian government for approval later this year. The development is set to launch to market in 2020.

The first stage of the devel-opment is expected to be com-pleted in 2024 with 800 apart-ments, a gym, spa and infinity swimming pool. A further 1,500 apartments is set to be complet-

ed in the second stage.The luxury waterfront liv-

ing concept will be designed by Japanese-Australian architect Koichi Takada, who is based in Sydney. The design has cap-italised on the seaside views of the Java Sea.

“Our design has parts that face the water, parts that face the city of Jakarta, [and] in be-tween you have cascading ter-raced apartments and garden features, with public and res-idential amenities in between.

This will give it a laneway feel, almost like going through a can-yon, or the islands of the archi-pelago,” says Takada.

Iwan Sunito, chairman and group CEO PT Pembangunan Jaya Ancol Tbk, says: “We will be the first to bring waterfront living to Jakarta, inspired by the world’s best – Sydney’s famous Darling Harbour and Circular Quay – through the develop-ment of vertical mixed-use res-idences.” — Compiled by Char-lene Chin

CROWN GROUP

WTG PROPERTY

The Crown Group’s Jakarta development comprises 2,000 luxury homes spread across a series of towers on a 4.7ha site

The retail shop in Bishan spans 4,306 sq ft, and draws “high footfall” from HDB residents and Sin Ming Industrial Estate nearby

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| BY CHARLENE CHIN |

HDB has launched 6,753 flats for sale under the May 2019 public hous-ing sales exercise, it announced in

a press release on May 22. There will be 3,485 units under the

Build-To-Order (BTO) scheme, spread across four projects – three in the non-ma-ture towns of Tengah and Woodlands, and one in the mature town of Kallang/Whampoa. Citizens will get to choose from flats varying from two-room Flexi to five-room.

Under the Sale of Balance Flats (SBF) exercise, 3,268 units are released for sale across various estates. Flats for selection comprise 535 units of two-room flexi, 432 units of three-room, 1,384 units of

four-room, 799 units of five-room, 111 units of 3Gen and seven units of exec-utive flats.

Although the majority of flats offered under the SBF exercise are reserved for first-timer families, first-timer singles can apply for a two-room Flexi flat in non-mature towns.

To help young couples make their housing plan in advance, this is the first public housing sale where HDB has cut the balloting time for BTO flats, from six weeks to three weeks, as well as announced BTO projects six months in advance, compared to the usual three months.

BTO flatsIn Tengah, there will be 2,180 BTO

flats in total - 987 flats will be in Gar-den Vale @ Tengah, which is bound-ed by Tengah Drive, Tengah Boulevard and Plantation Crescent, while Plan-tation Acres – along Plantation Cres-cent - will house 1,193 units.

Champions Green, bounded by Champions Way and Woodlands Drive 17, will offer 722 flats in total. This estate will be served by Woodlands South MRT Station, along the Thom-son-East Coast Line, which is expect-ed to be completed this year.

Kempas Residences – bounded by Serangoon Road, Lavender Street, Boon Keng Road and Kempas Road – will offer a total of 583 flats. The two-room flexi flats at this HDB es-tate are offered only to seniors (aged 55 and above) on short leases of be-tween 15 and 45 years, in five-year increments.

Property consultants believe that Kem-pas Residences will be the most popular choice, as it is right beside Boon Keng MRT Station on the North East Line.

Applications for the flats launched under BTO and SBF can be submitted online on the HDB InfoWEB from May 22 to 28, 2019.

Applicants can opt for only one flat type in one town under either the BTO or SBF exercise.

Upcoming BTO launchesThere will be two more launches for this year. In August, HDB will of-fer about 3,300 flats in Punggol and Tampines. In November, HDB will of-fer about 4,500 flats in Ang Mo Kio, Tampines and Tengah. Of these, the flats in two Tengah projects will have a shorter waiting time of two to three years, instead of the usual three to four years.

Concurrently, Re-Offer of Balance Flats (ROF) and SBF exercises will also be held in the two months.

Starting from June 2019, flat buy-ers will have the option to book un-selected ROF flats from an open pool at any time of the year. E

HDB launches 6,753 flats for sale under May 2019 exercise

TABLES: HDB

May 2019 BTO prices

Summary of May 2019 SBF prices

EDGEPROP | MAY 27, 2019 • EP3

| BY SHAUN POH |

Singapore’s commercial property invest-ment market perked up at the start of the second quarter, at a time when the cumulative tally for the earlier quarter had shown a drop with a few strata

deals. Office development Tampines Grande 7 and 9 transacted in early April at $395 mil-lion, and Realty Centre closed a few days lat-er at $148 million. Realty Centre was the first commercial collective sales inked in the year, fuelling hopes that the commercial collective sales market is chugging along despite the mut-ed sentiments in the overall economy.

Oxley Holdings has entered into a deal to

sell Chevron House for $1.03 billion, testing the capital value threshold of commercial prop-erties. Anson House, 139 Cecil Street and pos-sibly Frasers Tower are next in line.

Whatever the reasons for selling commer-cial properties, the market is in agreement that the momentum of commercial develop-ment sales will remain steady. The Draft Mas-ter Plan 2019’s recommendation to rejuvenate the CBD has certainly created some buzz in the commercial market.

CBD Incentive Scheme to benefit office developmentsThe CBD Incentive Scheme will offer an in-crease in gross plot ratio to encourage the conversion of existing office developments to hotel and residential uses. This could be bene-ficial for many office developments which face challenges when it comes to land use zoning.

As residential and hotel uses typically have a lower capital value, it does not make sense for land owners to downgrade to those devel-opment options without the increase in the plot ratio. If the CBD Incentive Scheme is approved, it will make commercial sense for developers to look at various development options.

The lure of hospitality continues, and prop-erty owners continue to weigh hotel conver-sions against higher development charges (DC) for hotel use. In the period just before DC for hotel conversions increased, Cheong Sim Lam acquired Ascott Raffles Place Singapore for $353.3 million. Waterloo Apartments was sold to a subsidiary of Fragrance Group through a collective sale of $131.1 million and the own-ers of Hotel 81 bought Golden Wall Centre for $276.2 million.

Since the state planners raised the DC for hotel conversions, Oxley has put up its Mer-cure and Novotel Hotels back on the market and we may also see a transaction for Global Premium Hotels’ portfolio of 23 hotels. It will be interesting to watch the level of interest in hotel assets for the rest of the year.

CBD to see higher plot ratios, asset enhancements If the Draft Master Plan goes through, plot ratios for numerous CBD land parcels will see signifi-cant increases. Private owners who have been sitting on historical land sites but have not been motivated to redevelop will welcome this move.

For example, the base plot ratios for land

parcels in the heart of Raffles Place, and in the vicinity of Raffles Place MRT Station, have ris-en from 12.6 to 15.0. This provides an impetus for landlords of ageing assets in prime loca-tions such as The Arcade and Clifford Centre to redevelop their properties. This could spur investment activity as landlords who were un-decided on whether to divest their older as-sets for redevelopment now have more rea-son to do so.

There is also likely to be an increase in as-set enhancement initiatives as landlords seize the opportunity to unlock any additional un-tapped gross floor area (GFA). It might be pos-sible for landlords of assets which are current-ly undergoing asset enhancement initiatives to revise their plans in order to unlock the addi-tional untapped GFA. As a result, there could be a delay in asset enhancement exercises as these landlords await the finalisation of the new Master Plan and apply for revised plan-ning permissions.

Strong fundamentals persist in medium termSingapore’s fundamentals remain strong. The city provides a safe haven for the weight of cap-ital that is hunting for assets, albeit its limited stock. In the medium term over the next six to 12 months, commercial properties includ-ing office, hospitality assets and shophouses will continue to be sought after.

However, the window of opportunity may be narrowing. Should more commercial prop-erties be converted to homes and hotels, the office supply in the CBD might be tightened further and drive the capital value of commer-cial properties even higher.

This situation may persist beyond 2020-2021 even when additional CBD office supply is re-leased in the market. Investors will increasing-ly have to look more closely at the decentral-ised office market for opportunities similar to Tampines Grande 7 and 9.

Shaun Poh is executive director of Cushman & Wakefield’s Capital Markets team in Singa-pore where he leads a team of investment bro-kers and works closely with the regional capi-tal markets team to support cross-border real estate investments.

Outlook for Singapore’s commercial property market upbeat

INDUSTRY INSIGHT

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ALBERT CHUA/EDGEPROP SINGAPORESAMUEL ISAAC CHUA/EDGEPROP SINGAPORE SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

Office development Tampines Grande 7 and 9 transacted in early April at $395 million

Frasers Tower is a 38-storey premium Grade-A office development located at Cecil Street

Oxley Holdings has entered into a deal to sell Chev-ron House for $1.03 billion

Cheong Sim Lam acquired Ascott Raffles Place Singapore for $353.3 million

EP4 • EDGEPROP | MAY 27, 2019

| BY CECILIA CHOW |

One of the most visible houses on Sen-tosa Cove, dubbed “Copper House”, changed hands last month for $32 million ($1,773 psf), according to a caveat lodged on April 16. The price

is $16 million or 33% below the original ask-ing price of $48 million when the property de-buted on the market in mid-2016.

“The owner had wanted to sell the house for $48 million initially,” concedes Steve Tay, senior associate vice president of List Sothe-by’s International Realty (List SIR) who bro-kered the sale. “But following the latest prop-erty cooling measures last July, he realised that the ABSD [additional buyer’s stamp duty] is now much higher, especially for foreign buy-ers. It has risen to 20%, bringing total stamp duty to 24%. As such, he decided to lower his asking price.”

The owner of the Copper House is Singapo-rean magnate David Loh, a former stockbroker and prolific investor who is also a non-execu-tive director of Centurion Corp. Loh also owns a Good Class Bungalow (GCB) in Cluny Hill, a prestigious estate near the Singapore Botan-ic Gardens in prime District 10. He is said to have redeveloped the GCB at Cluny Hill which was recently completed.

Billionaire’s relocationAs Loh intends to move with his family to the Cluny Hill GCB, he decided that it was time to let go of the Sentosa Cove property. “He and his family have enjoyed the house on Sentosa Cove for the past seven years,” says Tay. “And he didn’t want to leave the house vacant, so

he felt it was time to sell.” KH Tan, managing director of Newsman

Realty, who represented the seller in the deal, was appointed exclusive agent of Copper House more than a year ago. The asking price had al-ready been adjusted to $42 million then. “He is a motivated seller,” says Tan.

List SIR’s Tay represented the buyer, Tai-wanese billionaire Chen Hsu. Chen is the co-founder of Hsu Fu Chi International, which is based in Dongguan, China, and manufac-tures various confectionery products includ-ing biscuits, chocolates and jellies. Chen had sold a 60% stake in his company to Nestle in

2011 for about $2.1 billion, but still retains the remaining stake.

Considered one of Taiwan’s richest, Chen, who is now in his mid-60s, is planning to re-tire in Singapore where he is a permanent res-ident. He is also planning to relocate his fam-ily to Singapore.

“He is buying the house for his own stay and hopes to spend more time in Singapore with his family as he likes the security, envi-ronment and lifestyle that Sentosa Cove offers,” says Tay. “He says this is his dream retirement home where he plans to relax and take leisure-ly walks with his loved ones.”

Chen had visited the house several times before deciding to purchase it.

“It was a discreet off-market deal,” says Tay, who was involved in the negotiations be-tween both parties. “The buyer is happy with the price, and the owner is happy to be selling to someone who will appreciate the house.”

Epitome of a trophy homeThe Copper House is the epitome of a trophy home: It is one of fewer than 10 bungalow plots in Sentosa Cove that are over 18,000 sq ft and is the result of an amalgamation of two adjacent plots, says Samuel Eyo, managing

The second level contains the living and dining area with the customised wine cellar as the central feature

PICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

‘Copper House’ loses some of its lustreThe price of $32 million achieved at the trophy home on Sentosa Cove is a reflection of market sentiments and sellers adjusting prices on the back of property cooling measures introduced last July

SUPERHOMES

The 10,000 sq ft rooftop entertainment deck with panoramic sea views

EDGEPROP | MAY 27, 2019 • EP5

SUPERHOMESPICTURES: SAMUEL ISAAC CHUA/EDGEPROP SINGAPORE

director of Lighthouse Property. Eyo was the original exclusive agent for the property three years ago, when the price tag was $48 million.

The Copper House sits on a plot of 18,052 sq ft at Cove Drive and has a 41.4m frontage with an ocean view. The house comes with a basement garage that can fit 10 supercars. It has a 10,000 sq ft rooftop deck for entertain-ment, a customised wine cellar for 2,000 bot-tles and a private lift. While the living and din-ing area is on the second level, the six en suite bedrooms, a spa, sauna, private gym and put-ting green are located on the first level. The master suite and four other bedrooms, as well as the family room, have direct access to the swimming pool and garden on the first level.

“A distinctive property like the Copper House always draws interest,” says Tay. He sees buyers returning to Sentosa Cove recent-ly. However, he notes that the latest property cooling measures that came into effect last July 6, have widened the price gap between buyers and sellers. “Sellers therefore have to be more realistic with their asking prices,” he adds. “Buyers recognise that prices in Sentosa Cove have stabilised, with the cooling meas-ures in place, and they can take their time to find the right property.”

Deal spurtTay recently sold another bungalow, this time at Ocean Drive, for close to $15 million, al-though the caveat has yet to be lodged. The bungalow sits on a plot of about 9,880 sq ft. It is described as an “arty, designer house” with three bedrooms. The buyer is said to be a Chinese national. Tay is also in the midst of negotiating the sale of another trophy proper-ty at Sentosa Cove “in the $30 million range”.

The resurgence of buying interest in Sento-sa Cove bungalows could be partly attributed

to average prices having fallen by some 30% from its peak in 2012-2013, notes Han Huan Mei, List SIR director of research. Transactions fell to just four units per annum from 2014 to 2016 following the last round of property cooling measures in 2013, which saw a hike in ABSD, seller’s stamp duty and the introduc-tion of the total debt servicing ratio (TDSR) loan framework. The number of bungalows sold, however, jumped to 15 in 2017, and 11 in 2018. (See chart)

The momentum of sales and price growth continued to pick up steadily in 1H2018 un-til the new cooling measures came into effect on July 6, notes Han. “The market was quiet for a few months as sellers and buyers took a step back to see where prices were heading.”

When it became clear that prices were not on a downward slide and instead, had stabi-lised from September to October 2018, “buy-ers began to re-enter the market looking for fair-value buys”, observes Han.

Most of the potential buyers shopping for a property in Sentosa Cove today are look-ing at “owner-occupation so that their fami-lies can enjoy the unique waterfront lifestyle while holding the property as a mid- to long-term investment asset”, says Han. “For inter-national buyers, Sentosa Cove remains the only address in Singapore that foreigners can pur-chase and own landed properties.”

Prices were marginally higher in 2018 than in 2017, and are expected to remain stable in the next 12 months, Han estimates.

Significant transactionsA significant transaction in 2018 was a bunga-low at Cove Grove which was sold for $33.3 million – the highest transacted absolute price for a Sentosa Cove bungalow since 2013. Ro-wena Chan, associate vice president of List

SIR, was involved in the sale. “The bungalow was able to fetch such a handsome price due to several special and unique attributes – in-cluding the land area of 18,555 sq ft, which is a rare find in Sentosa Cove,” she says.

The price translated to $1,795 psf based on land area, which Lighthouse Property’s Eyo says is slightly higher than the $1,773 psf that the Copper House was recently sold at. “It is a reflection of the current market senti-ment and the higher stamp duty that buyers are subjected to,” he says.

Another significant sale was that of a bun-galow, also along Cove Drive, that was sold in November 2018 for $23.99 million. It trans-lated to $2,515 psf, which is the highest psf achieved for 2018. In January 2019, a bunga-low at Cove Drive sitting on a plot of 8,730 sq ft, fetched $32 million ($1,948 psf).

“Bungalow prices at Sentosa Cove cur-rently lean in favour of buyers, and there could be more interest from well-heeled lo-cals and newly-minted permanent residents who are buying their first residential prop-erty as they are not affected by the higher ABSD,” says Han.

For instance, the buyer of Copper House, being a permanent resident, will only be sub-jected to 5% ABSD, as this is his first property purchase in Singapore, on top of a 4% stamp duty. This brings his total stamp duty cost to 9%, and based on his $32 million purchase, that is an additional $2.88 million.

“Only the ultra rich buyers can afford to buy a house of that quantum,” says Lighthouse’s Eyo. “For $2.88 million, you can buy a one- or two-bedroom unit in the prime districts.”

Capitalising on expansion of IRs, Greater Southern WaterfrontIn the long term, the prospects for Sentosa

Cove should be positive, says List SIR’s Han. The Sentosa Gateway Tunnel, which was opened in April 2017, allows residents of Sen-tosa Cove to connect to the mainland directly with greater ease. The latest announcements by the government to expand the tourism of-ferings from Sentosa and to include it as part of the 2,000ha Greater Southern Waterfront – which stretches from Tanjong Pagar to Pasir Panjang – could potentially enhance real es-tate values in Sentosa Cove.

List SIR’s Tay agrees. “Over the next five to 10 years, there should be a lot of interest in Sentosa Cove,” he says. “Prices had accelerat-ed too quickly from 2010 to 2013. The property cooling measures in 2013 levelled off transac-tions and led to softening in prices. And that’s why we saw only four transactions per year from 2014 to 2016.”

Tay adds that this was followed by “a period of price discovery”, when property agents, sell-ers and buyers were trying to figure out “the real value” of a bungalow on Sentosa Cove.

On top of the URA 2019 Master Plan for the Greater Southern Waterfront, Tay sees interest returning on the back of expansion plans announced by Singapore’s two integrat-ed resorts last month. Marina Bay Sands, for instance, intends to pump in $4.5 billion to add a new entertainment area and a fourth hotel tower. Resorts World Sentosa is also spending $4.5 billion, which will see an ex-pansion of Universal Studios Singapore and the addition of two more attractions, name-ly Minion Park and Super Nintendo World.

“The two IRs’ $9 billion expansion and the Greater Southern Waterfront Master Plan have certainly revived interest in Sentosa Cove,” says Tay. “Potential buyers see the possibility of long-term capital appreciation when these plans materialise in the future.”

One of the bedrooms with direct access to the swimming pool The family room on the first level looks out to the swimming pool

URA REALIS, LIST SIR RESEARCH

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EP6 • EDGEPROP | MAY 27, 2019

| BY CECILIA CHOW |

While most people at Sentosa Cove put a premium on direct sea views, Niki Harding and her husband prize privacy, the tran-quillity of the golf course and

lake views with the sea beyond. These were the reasons they chose their bungalow plot at Lakeshore View 13 years ago.

“When we first came to look at Sentosa Cove,

we were mesmerised by the fact that it’s so pri-vate here [at Lakeshore View],” says Harding. “There’s only one entrance in and out; it’s a very exclusive cul-de-sac and we thought that it would be nicer here than on the main street.”

Of the 364 bungalows in the whole of Sen-tosa Cove, only 38 are located at Lakeshore View. And only those with even-number ad-dresses at Lakeshore View can boast of having “triple views” – views of the sea, the lake and the golf course, says Rowena Chan, associate

vice president of List Sotheby’s International Realty (List SIR).

CHOICE SITEThe Hardings’ property is one of them. The site has a 39.2m frontage facing the golf course – the longest at Lakeshore View – which means the house commands “a unique, panoramic view of the sea, lake and the most popular and challenging hole of the Serapong champion-ship golf course”, says Chan, who is is the ex-

clusive marketing agent for the property. This lends to the “serene and tranquil feel of an oa-sis”, as opposed to the busier and less private waterway and sea view residences on the rest of Sentosa Cove, she adds.

The Hardings chose their particular site also because it was not overlooked from any direc-tion. “When we bought our plot, the one next door hadn’t been built yet, but we felt that the plot was big enough that the house would be located further away and wouldn’t be looking

The open-plan living-dining area has a view of the garden and golf course The granite wall façade and main entrance of the house facing the cul-de-sac has a 38.4m frontage

The exterior of the tree-lined property at Lakeshore View faces Serapong Golf Course

PICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

Located at Lakeshore View, the bungalow boasts a 39.2m frontage, with direct views of the golf course, the lake and the sea from every bedroom.

Sentosa Cove home with ‘triple views’ for $19.8 mil

COVER STORY

EDGEPROP | MAY 27, 2019 • EP7

over ours, and it hasn’t,” says Harding. On the other side, a tree-lined park separates their prop-erty from the neighbour’s house.

The couple’s property sits on a plot with an area of 10,180 sq ft. While the side fronting the golf course is 39.2m, the side fronting the cul-de-sac is 38.4m. “As the house is surrounded by greenery, this makes the property feel even larger than it is,” says List SIR’s Chan.

To design their home, the Hardings engaged their personal friend and architect, Shaun Shahrome, founder and managing director of Soho Design Partnership. It was Shahrome’s first bungalow project in Sentosa Cove. Construction of the property took just 18 months from start to finish, says Harding. The family moved in when the house was completed in August 2008.

‘BUILT TO LAST’Shahrome created a 10,800 sq ft, 2½-storey house with an attic and basement. When the house was being designed, Harding’s children were very young. “We would talk about the practical-ities [of having young kids], and he advised us very well on the materials,” recounts Harding.

The façade wall is of imported granite and the first-level living and dining areas have full marble flooring, while staircases, wall panels and flooring on the upper floors are of teak wood. “The materials have lasted well,” says Harding. “We have had very little maintenance issues and we have never needed to repaint the house in the 11½ years we have lived here.”

The first level contains the living room, din-ing area and kitchen. “We like an open plan because we want to see and hear the children even if we’re in the kitchen and they are in the living room or dining room,” says Harding. “When we have dinner parties, we can close off the kitchen if we want to.”

While the dining area is the heart of the house, Harding’s favourite space is the living room. “Quite often, I can be found asleep on the sofa or doing my mental relaxation and med-itation exercises. This part of the house has a soothing feeling.”

The five en suite bedrooms, including the

master suite, are on the second level. All the bed-rooms have full-height, glass sliding doors framing a view of the golf course and the trees outside.

One of the bedrooms has been turned into Harding’s office, with connecting doors to the master suite. Her master bedroom has a walk-in wardrobe for her clothes and another for her collection of designer handbags and shoes.

The basement is the family entertainment area. It contains a temperature-controlled wine cellar with a capacity of more than 2,000 bot-tles as well as a bar, home theatre and pool ta-ble. The room is sound-proofed and “you do not have to worry about singing karaoke here”, says Harding.

There is also a pantry in the basement, am-ple storage space, a utility area for the helpers as well as the helpers’ bedrooms and bathroom. A separate staircase from the helpers’ quarters leads directly to the garden and kitchen.

At the attic level is a television room for the children. As there is provision for a bathroom, it could be converted into a sixth bedroom if needed, notes Harding.

A NEUTRAL PALETTEThe house is north-south facing, which allows for cross-ventilation. To further reduce the sun’s glare, the windows and glass sliding doors have UV protection. The ceiling height is 3.2m and every room has a ceiling fan. “Over the Christ-mas period when it’s cooler, we just have the fans turned on instead of the air-conditioner,” Harding says.

Having an interest in interior design, Harding furnished the home herself. “When you have a beautiful shell, it’s not difficult to do the inte-riors,” she says. “I wanted a neutral palette for the interiors so that I could add colour using the cushion covers and art pieces.”

She professes to being “quite particular” about cleanliness and keeping the house in “a beautiful condition”. “We take pride in the things we have,” she says. “We don’t take anything for granted.”

Given the wide frontage of the house, the garden can accommodate an 18×34 ft swim-ming pool as well as a water feature. Harding

enjoys watering the plants in her own garden, even though her helpers are already doing it. “I’m always in the garden,” she says.

CALL OF FAMILYWhile the family has enjoyed living in the house and held many parties there, Harding feels it is time to return to the UK. She left London for Sydney, Australia, in 1993 and moved to Sin-gapore with her family in 1998. “We have been away for nearly 27 years,” says Harding. “It’s time to go back.”

Family members are also beckoning her to return. Her elder son is already at university in the UK. “He’s asking me when we’re coming over,” says Harding. “We think it’s important for us to be there for our children. And it’s time for us to do our duty to our parents too. My fa-ther is in his 70s and he’s asking me when I’m coming back so he can see the grandchildren more often. My in-laws, who are older, are not very well and they can’t travel as much. They have also been asking if they can see their grand-children a bit more.”

As such, the Hardings have decided to put their Lakeshore View home on the market. The asking price for the house is $19.8 million, says List SIR’s Chan. “Because of the property cool-ing measures last July, the owners have adjust-ed the price from $22 million six months ago,” she says. “They are serious sellers, and $19.8 million is a very comfortable quantum for such a house in Sentosa Cove.”

According to List SIR director of research, Han Huan Mei, such houses in Lakeshore View used to be sold at $2,922 psf at the peak of the market for Sentosa Cove in 2013. The current asking price of $19.8 million ($1,945 psf) “is definitely very competitively priced given that in 2017, another bungalow at Lakeshore View of a similar size was sold at $21.24 million in an estate sale”, adds Han.

EXCLUSIVE ENCLAVEAccording to Chan, most of those who have viewed the property, especially foreigners, are impressed by the fact that they could just move

in without having to do any additions or altera-tions to the house as it is in such good condition.

“Potential buyers are also impressed as it’s one of the rare few, if not the only one, on Sen-tosa Cove, where all five bedrooms enjoy the same view of the golf course,” adds Chan. “Usu-ally, some of the common bedrooms will have a view of the road.”

Lakeshore View is on an exclusive part of Sentosa Cove – with views of the golf course, the lake and the sea as well as Singapore’s city ports beyond, says Chan.

Sentosa Cove is a 117ha prime waterfront en-clave situated on the eastern coast of Sentosa Island. It comprises of two parts – North Cove and South Cove – covering five man-made is-lands. Sitting in the North Cove are Coral Is-land, Paradise Island and Treasure Island. In the South Cove are Sandy Island and Pearl Island.

While there are only 364 bungalows on Sen-tosa Cove, there are about 50 terraced and clus-ter houses and 1,800 private apartments, ac-cording to List SIR Research.

“There is a healthy level of interest among foreign and local investors who are waiting for the right opportunity to enter the mar-ket and buy their dream waterfront home for owner-occupation or long-term invest-ment,” says Chan.

The attic level can also be converted into a bedroom as there is provision for a bathroom

The soundproofed home theatre for screening movies also contains a bar and pool table

The master suite has a pitched roof, like the attic level, and a picturesque view of the greenery The dining room adjoining the kitchen is the heart of the house for the Harding family

E

The basement wine cellar can accommodate more than 2,000 bottles of wine

COVER STORYPICTURES: ALBERT CHUA/EDGEPROP SINGAPORE

EP8 • EDGEPROP | MAY 27, 2019

BROUGHT TO YOU BY: CITY DEVELOPMENTS LIMITED

On its first weekend of launch on May 4-5, Amber Park saw 115 units out of 150 released snapped up, which translates to a sales rate of 77%. Total sales achieved were more than $240

million, even though attractive early bird pric-ing brought the average price to $2,425 psf.

It’s a testament of the project’s outstand-ing attributes and excellent location in prime District 15, offering beautiful sea views and

good connectivity, including being a mere three-minute walk to the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line.

City Developments Limited’s (CDL’s) con-fidence in the site’s attributes stems from the fact that it was also the original developer of the former Amber Park condo built more than 30 years ago. CDL and its joint venture part-ner, Hong Realty, have therefore retained the

Amber Park name for the new project. CDL has also created a first-of-its-kind sales

gallery and one of the largest in Singapore –featuring a wide wall screen projecting views that residents of Amber Park can enjoy and a rotating architectural model that provides dy-namic perspectives of the development.

A brand synonymous with quality homes, CDL is the first and only private sector prop-erty developer to be conferred the inaugural

Built Environment Leadership Platinum Star Award 2018. This new award from BCA is only given to organisations that have held the Built Environment Leadership (Platinum) Award for at least five years.

It recognises excellence and leadership in shaping a safe, high quality, sustainable and friendly built environment in Singapore.

CDL was the most awarded private sector property developer at the BCA 2018 Awards

A standout feature of Amber Park is “The Stratosphere” – a rooftop recreational deck elevated 235 ft above sea level and spanning across three towers

The sales gallery features a rotating architectural model that provides dynamic perspectives of the development Excited buyers on the first day of launch

Amber Park: Best-selling newfreehold launch in May 2019

PICTURES: CITY DEVELOPMENTS LIMITED

With its 600m jogging track 235 feet above sea level,Amber Park is the new icon of freehold East Coast living

Artist’s Impression

Artist’s Impression

EDGEPROP | MAY 27, 2019 • EP9

BROUGHT TO YOU BY: CITY DEVELOPMENTS LIMITED

with 25 accolades including 12 Green Mark Awards for strong environmental performance. For more than a decade, CDL has set targets to achieve Green Mark GoldPlus for all its new projects – two tiers beyond BCA’s mandatory certification level.

MORE THAN AN ICONIC LANDMARKTo bring the luxury lifestyle of a District 9 ad-dress to the East Coast, award-winning archi-tect, Chan Soo Khian, principal of SCDA Ar-chitects, was engaged to design Amber Park. SCDA is famous for setting the benchmark for luxury in the design of residences, hotels and resorts.

For this project, SCDA is not just the design architect, but also the landscape designer and interior designer.

The new Amber Park will feature three 21-storey towers with a total of 592 units sitting on an expansive, rare freehold site of over 213,000 sq ft. It is the most signif-icant luxury condo launched in the prime Amber Road-Amber Gardens neighbourhood in over a decade.

For the convenience of residents, Amber Park will have dual access from Amber Gar-dens and Amber Road. It is the only develop-ment in the area to have dual access.

A JOG AMONG THE CLOUDSA standout feature of the project is “The Strat-osphere” – a rooftop recreational deck elevat-ed 235 feet (approximately 72 metres) above sea level spanning the three towers. Occupying a total area of 32,507 sq ft, The Stratosphere has a unique 600m, purpose-built EPDM jog-ging track – a first in a private condo – that rewards runners with panoramic sea views.

This rooftop facilities deck also boasts a yoga deck, sea-facing gym, spa pool, gourmet dining and lounge, water features and landscaped gar-dens. Residents will be able to enjoy panoramic views from The Stratosphere as the development will be among the tallest in the area.

UNWIND AT YOUR TROPICAL PARADISEAs the three towers have a footprint of just 35% of the site, the rest of the area has been freed up for residents’ facilities and landscap-ing. Named “Lagoon Bay”, the facilities on the first level include a 50m lagoon pool, hydro-therapy pool, a fitness court, barbeque pavil-ion and private dining at Club Amber.

A wide range of unit types within the de-velopment will satisfy a wide spectrum of homebuyers – from investors to owner-oc-cupiers, for instance, young couples, fam-ilies with children of school-going age and multi-generational families. Unit sizes start from 1-Bedroom+Study of 463 sq ft to 5-Bed-room+Study of 2,336 sq ft.

There are just four Penthouses within the development with sizes from 4,392 to 5,005 sq ft. They contain six bedrooms, something that is rarely offered in the market today. The 4-Bedroom Premium, 5-Bedroom Premium, 5-Bedroom+Study units and Penthouses will have private lift access.

LUXURY FITTINGSAll units will come with quality fittings, for instance, kitchens will be fully-equipped with high-end appliances from Swiss brand V-Zug and German brand Bosch; sanitary wares and fittings from Villeroy & Boch, Geberit and Gro-he; as well as marble flooring in the living/din-ing area and engineered timber flooring in the

bedrooms. All units will also be fitted with a wireless smart home system including a smart voice control assistant.

Built-in, integrated shoe cabinet will also be provided for all units except the 1-Bedroom +Study units. LED lighting will be built into the bathroom vanity counters and wardrobes, including the walk-in wardrobes of the 4- and 5-Bedroom units as well as Penthouses.

Most of the units within the development will enjoy a view, be it the view of the sea, the city skyline, the landscaped gardens or pools within the development. Residents will also enjoy Premier Residential Services which pro-vide thoughtful assistance for your daily needs. From laundry and housekeeping arrangement, and transport bookings, parties catering to res-taurant reservations* – it’s all taken care of.*Selected services are chargeable. Terms and conditions apply.

DEVELOPER OF NEXT-GEN LUXURY PROJECTSCDL has set the benchmarks for ultra-luxury, freehold projects in the prime districts in re-cent years. New Futura (redevelopment of the former Futura condo) on Leonie Hill Road and Gramercy Park (the former Lucky Towers) on Grange Road were both developed by CDL.

Previewed in March, Boulevard 88 along Orchard Boulevard is developed jointly by CDL, Hong Leong Holdings and Lea Invest-ments. Boulevard 88 is a new 28-storey free-hold address perched above The Singapore EDITION Hotel.

LIVE EAST, STAY CENTRALOutside of the traditional prestigious Districts 9, 10 and 11, District 15 is the most sought-af-ter postal code owing to its past, when many of

Singapore’s old rich families had their beach-front villas there.

Future residents at Amber Park will be able to enjoy the beachfront at the 185ha East Coast Park – one of the largest parks in Singapore – with a 15km coastline. It is accessible via an underground link across the expressway. From East Coast Park, residents can jog or cycle to Marina Bay Golf Course, Gardens by the Bay and the Marina Barrage.

The upcoming Tanjong Katong MRT Sta-tion on the Thomson-East Coast Line is just a three-minute walk from Amber Park, while the Chinese Swimming Club is just across the road. For those who drive, the CBD and Changi Airport are just a 10-minute drive away on the East Coast Expressway.

Meanwhile, top schools in the East such as Tanjong Katong Primary School are less than 1km away, while Tao Nan Primary School is less than 2km away. The Canadian Interna-tional School, Chung Cheng High School and Victoria School are also nearby.

Vestiges of the past and the rich Peranakan heritage still remain, for instance the Red House as well as famous eateries in the Joo Chiat area such as Kim Choo Kueh Chang (Peranakan cui-sine and culture), Glory Catering (traditional Nonya food) and Katong Laksa.

Hipster cafes and restaurants in the East Coast include the retro-themed Sinpopo Brand, NineThirty by Awfully Chocolate and hawk-er sports bar Alibabar. Shopping malls nearby include Parkway Parade, 112 Katong and the newly-opened Jewel Changi Airport.

“Amber Park draws buyers looking for pro-jects with good investment value,” says Chia Ngiang Hong, group general manager of CDL. “Many of our buyers are homeowners and sav-vy investors, including residents in the East looking to buy an iconic property. Sales for this project are off to a good start, indicating healthy demand for well-located projects that are exceptionally designed.”

The Stratosphere links all three towers with a 600m purpose-built EPDM jogging track, where residents can enjoy panoramic sea views

With the three towers occupying only 35% of the site, the rest of the area – “The Lagoon Bay” – is adorned with lush landscaping and facilities for residents

Artist’s impression of the living and dining area designed by Chan Soo Khian, principal of SCDA Architects

NOW OP E N FOR BO OK I NG

SALES GALLERY

ALONG TANJONG RHU ROAD

(NEAR SINGAPORE SWIMMING CLUB)

OPEN DAILY 10AM - 7PM

CALL/WHATSAPP 8783 1818

WWW.CDLHOMES.COM.SG/AMBERPARK

FOLLOW US ON INSTAGRAM @CITYDEVELOPMENTS

Artist’s Impression

Artist’s Impression Artist’s Impression

Amber Park has sold 150 units as of press time

EP10 • EDGEPROP | MAY 27, 2019

DONE DEALS

The development’s two 39-storey towers will be linked at the roofs by sky bridges

Residential transactions with contracts dated May 7 to 14Singapore — by postal district LOCALITIES DISTRICTS

City & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

PROJECT PROPERTY TYPE TENURE SALE DATE

LAND AREA/FLOOR AREA

(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE

($ PSF) COMPLETION DATETYPE OF

SALE

PROJECT PROPERTY TYPE TENURE SALE DATE

LAND AREA/FLOOR AREA

(SQ FT)TRANSACTED

PRICE ($)

UNIT PRICE

($ PSF) COMPLETION DATETYPE OF

SALE

District 1 MARINA ONE RESIDENCES Apartment 99 years May 11 1,141 2,587,860 2,268 2017 New SaleTHE SAIL @ MARINA BAY Apartment 99 years May 8 883 1,700,000 1,926 2008 ResaleDistrict 2 SPOTTISWOODE RESIDENCES Condominium Freehold May 10 603 1,100,000 1,825 2013 ResaleSPOTTISWOODE RESIDENCES Condominium Freehold May 14 926 1,880,000 2,031 2013 ResaleDistrict 3 MARGARET VILLE Apartment 99 years May 7 969 1,642,872 1,696 Uncompleted New SaleMARGARET VILLE Apartment 99 years May 10 915 1,565,256 1,711 Uncompleted New SaleRIVER PLACE Condominium 99 years May 13 797 1,120,000 1,406 2000 ResaleSTIRLING RESIDENCES* Apartment 99 years May 11 624 1,123,000 1,799 Uncompleted New SaleSTIRLING RESIDENCES Apartment 99 years May 11 657 1,168,000 1,779 Uncompleted New SaleTHE CREST Condominium 99 years May 13 797 1,745,000 2,191 2017 ResaleDistrict 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years May 7 1,485 2,300,000 1,548 2004 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years May 8 1,195 2,011,280 1,683 2011 ResaleDistrict 5 BLUE HORIZON Condominium 99 years May 13 1,216 1,330,000 1,093 2005 ResaleKENT RIDGE HILL RESIDENCES* Apartment 99 years May 7 474 800,000 1,689 Uncompleted New SalePASIR PANJANG ROAD Terrace Freehold May 10 1,528 1,900,000 1,242 Unknown ResaleTREASURE PLACE Condominium Freehold May 13 1,550 1,620,000 1,045 2006 ResaleWESTCOVE CONDOMINIUM Condominium 99 years May 8 1,539 1,210,000 786 1998 ResaleWHISTLER GRAND* Apartment 99 years May 10 1,066 1,368,900 1,285 Uncompleted New SaleDistrict 7 BURLINGTON SQUARE Apartment 99 years May 9 829 1,070,000 1,291 1998 ResaleSOUTH BEACH RESIDENCES Apartment 99 years May 9 1,345 4,208,000 3,127 2016 ResaleDistrict 8 CITY SQUARE RESIDENCES Condominium Freehold May 9 1,195 1,830,000 1,532 2009 ResaleTRURO ROAD Apartment Freehold May 14 1,141 920,000 806 Unknown ResaleDistrict 9 8 SAINT THOMAS Condominium Freehold May 7 872 2,648,000 3,037 2018 ResaleASPEN HEIGHTS Condominium 999 years May 7 1,582 2,780,000 1,757 1998 ResaleHORIZON TOWERS Condominium 99 years May 13 2,486 3,225,000 1,297 1984 ResaleLLOYD SIXTYFIVE Apartment Freehold May 8 2,422 6,900,000 2,849 2016 ResaleNEW FUTURA Condominium Freehold May 13 1,830 6,412,400 3,504 2017 ResalePATERSON SUITES Condominium Freehold May 13 2,164 5,350,000 2,473 2010 ResaleRICHMOND PARK Condominium Freehold May 8 1,292 3,310,000 2,563 1996 ResaleRV ALTITUDE Apartment Freehold May 8 441 1,376,000 3,118 Uncompleted New SaleRV ALTITUDE Apartment Freehold May 11 441 1,398,000 3,168 Uncompleted New SaleSKYLINE 360 @ SAINT THOMAS WALK Condominium Freehold May 8 2,131 4,750,000 2,229 2012 ResaleTHE IMPERIAL Condominium Freehold May 9 1,808 3,770,000 2,085 2006 ResaleTHE PEAK @ CAIRNHILL II Apartment Freehold May 8 904 2,356,000 2,606 2015 ResaleTRIBECA Condominium Freehold May 13 1,378 2,680,000 1,945 2010 ResaleURBAN SUITES Condominium Freehold May 10 1,572 4,323,000 2,751 2013 ResaleVIDA Apartment Freehold May 10 517 1,080,000 2,090 2009 ResaleDistrict 10 3 CUSCADEN Apartment Freehold May 8 474 1,558,484 3,291 Uncompleted New Sale3 CUSCADEN Apartment Freehold May 8 452 1,710,000 3,782 Uncompleted New SaleBELMOND GREEN Condominium Freehold May 7 1,302 2,450,000 1,881 2004 ResaleBOULEVARD 88 Apartment Freehold May 8 2,799 10,258,200 3,665 Uncompleted New SaleDRAYCOTT EIGHT Condominium 99 years May 7 2,895 5,720,000 1,975 2005 ResaleFOURTH AVENUE RESIDENCES* Apartment 99 years May 8 700 1,636,000 2,338 Uncompleted New SaleGALLOP GREEN Condominium Freehold May 10 4,241 7,638,041 1,801 2002 ResaleHENRY PARK Terrace Freehold May 8 2,594 4,780,000 1,840 1978 ResaleORANGE GROVE RESIDENCES Condominium Freehold May 7 3,670 5,800,000 1,580 2009 ResaleRV RESIDENCES Condominium 999 years May 8 420 950,000 2,263 2015 ResaleSHEARES VILLE Apartment Freehold May 13 1,399 2,250,000 1,608 2003 ResaleSPRING GROVE Condominium 99 years May 14 1,335 2,050,000 1,536 1996 ResaleST MARTIN RESIDENCE Condominium Freehold May 13 549 1,238,000 2,255 2001 ResaleDistrict 11 368 THOMSON Condominium Freehold May 8 689 1,020,000 1,481 2014 ResaleDUNEARN ESTATE Detached Freehold May 8 8,999 9,690,000 1,076 1986 ResaleGREENVIEW CRESCENT Detached Freehold May 9 6,609 9,400,000 1,423 Unknown ResaleNINETEEN SHELFORD ROAD Condominium Freehold May 7 893 1,420,000 1,589 1997 ResaleNOVENA COURT Apartment Freehold May 14 861 1,310,000 1,521 Unknown ResaleSHELFORD REGENCY Condominium Freehold May 13 990 1,398,888 1,413 1998 ResaleTHOMSON 800 Condominium Freehold May 9 3,757 4,350,000 1,158 1999 ResaleDistrict 12 DOMUS Apartment Freehold May 13 3,111 2,850,000 916 2012 ResaleJALAN MANIS Terrace Freehold May 7 1,625 1,980,000 1,216 Unknown ResaleOLEANDER TOWERS Apartment 99 years May 10 861 828,000 962 1998 ResaleRIVERBAY Apartment 999 years May 9 388 590,000 1,523 2014 ResaleTHE MARQUE @ IRRAWADDY Apartment Freehold May 10 1,087 1,450,000 1,334 2009 ResaleTHE VIRIDIAN Apartment Freehold May 7 883 1,060,000 1,201 2015 ResaleTREVISTA Condominium 99 years May 10 1,109 1,550,000 1,398 2011 ResaleDistrict 13 PARK COLONIAL* Condominium 99 years May 7 1,184 2,174,000 1,836 Uncompleted New SaleTHE TRE VER* Condominium 99 years May 7 646 1,068,000 1,654 Uncompleted New SaleTHE WOODLEIGH RESIDENCES* Apartment 99 years May 10 1,475 3,437,850 2,331 Uncompleted New SaleDistrict 14 ARENA RESIDENCES Apartment Freehold May 11 893 1,695,000 1,897 Uncompleted New SaleARENA RESIDENCES Apartment Freehold May 12 893 1,680,000 1,880 Uncompleted New SaleASTOR Apartment 99 years May 8 1,109 915,000 825 2006 ResaleCASA SARINA Condominium Freehold May 13 1,184 1,190,000 1,005 1998 ResaleDELIGHT COURT Apartment Freehold May 8 1,324 1,180,000 891 1991 ResaleLE CRESCENDO Condominium Freehold May 14 1,539 1,865,000 1,212 2006 ResalePARC ESTA* Apartment 99 years May 7 915 1,469,000 1,606 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years May 9 1,076 1,800,000 1,672 Uncompleted New SaleREZI 24 Apartment Freehold May 7 603 890,700 1,478 Uncompleted New SaleREZI 24 Apartment Freehold May 10 646 1,033,000 1,599 Uncompleted New SaleSUNFLOWER VIEW Apartment Freehold May 7 1,012 999,000 987 2000 ResaleDistrict 15 AALTO Condominium Freehold May 10 2,024 4,080,000 2,016 2010 ResaleAMBER PARK* Condominium Freehold May 7 678 1,627,200 2,400 Uncompleted New SaleCOASTLINE RESIDENCES Apartment Freehold May 7 721 1,914,000 2,654 Uncompleted New SaleCOASTLINE RESIDENCES Apartment Freehold May 11 452 1,169,000 2,586 Uncompleted New SaleHAIG 162 Apartment Freehold May 9 366 570,000 1,557 2013 Resale

MODA Apartment Freehold May 13 646 1,180,000 1,827 2014 ResaleCRANBORNE ROAD Detached Freehold May 7 6,275 10,388,000 1,655 1997 ResaleCHAPEL ROAD Terrace Freehold May 8 2,702 3,970,000 1,470 1974 ResaleTANJONG KATONG ROAD Apartment Freehold May 9 872 1,810,000 2,076 Unknown ResaleJALAN SEAVIEW Semi-Detached Freehold May 13 3,229 4,550,000 1,409 Unknown ResaleNYON Apartment Freehold May 9 818 1,898,000 2,320 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years May 8 1,259 2,449,250 1,945 Uncompleted New SaleTHE AMBRA Apartment Freehold May 10 818 1,050,000 1,284 2010 ResaleTHE SEAFRONT ON MEYER Condominium Freehold May 8 1,604 3,280,000 2,045 2010 ResaleTHE SOUND Condominium Freehold May 13 581 935,000 1,609 2013 ResaleVILLA MARINA Condominium 99 years May 9 2,314 1,830,000 791 1999 ResaleDistrict 16 ARCHIPELAGO Condominium 99 years May 10 840 920,000 1,096 2015 ResaleBEDOK COURT Condominium 99 years May 13 2,293 1,900,000 829 1985 ResaleCASA MERAH Apartment 99 years May 7 1,572 1,720,000 1,094 2009 ResaleCOSTA DEL SOL Condominium 99 years May 8 1,324 1,740,000 1,314 2003 ResaleCOSTA DEL SOL Condominium 99 years May 14 1,755 2,100,000 1,197 2003 ResaleEASTWOOD VILLE Terrace 99 years May 13 2,562 2,218,000 867 1999 ResaleKEW VALE Terrace 99 years May 13 1,679 1,788,888 1,065 1996 ResaleTHE BAYSHORE Condominium 99 years May 8 1,259 1,240,000 985 1996 ResaleWATERFRONT ISLE Condominium 99 years May 7 635 770,000 1,212 2015 ResaleWATERFRONT WAVES Condominium 99 years May 9 1,292 1,430,000 1,107 2011 ResaleDistrict 17 COASTAL BREEZE RESIDENCES Condominium 99 years May 8 2,368 1,420,000 600 2012 ResaleCOASTAL BREEZE RESIDENCES Condominium 99 years May 9 1,173 980,000 835 2012 ResaleTHE INFLORA Condominium 99 years May 8 463 528,000 1,141 2016 ResaleTHE JOVELL Condominium 99 years May 11 721 889,000 1,233 Uncompleted New SaleDistrict 18 DOUBLE BAY RESIDENCES Condominium 99 years May 9 1,550 1,630,000 1,052 2012 ResaleEASTPOINT GREEN Condominium 99 years May 13 958 770,000 804 1999 ResaleNV RESIDENCES Condominium 99 years May 13 904 838,000 927 2013 ResaleRIS GRANDEUR Condominium Freehold May 13 1,367 1,238,880 906 2005 ResaleSIMEI GREEN CONDOMINIUM EC 99 years May 7 1,711 1,280,000 748 1999 ResaleSIMEI GREEN CONDOMINIUM EC 99 years May 9 969 820,600 847 1999 ResaleTHE ALPS RESIDENCES Condominium 99 years May 9 936 1,174,000 1,254 Uncompleted New SaleTHE TAPESTRY Condominium 99 years May 12 1,485 1,793,340 1,207 Uncompleted New SaleTREASURE AT TAMPINES* Condominium 99 years May 7 463 676,000 1,461 Uncompleted New SaleDistrict 19 AFFINITY AT SERANGOON* Apartment 99 years May 11 1,076 1,634,000 1,518 Uncompleted New SaleAUSTVILLE RESIDENCES* EC 99 years May 7 1,378 1,030,000 748 2014 ResaleBOATHOUSE RESIDENCES Condominium 99 years May 10 710 760,000 1,070 2015 ResaleBOTANIQUE AT BARTLEY Condominium 99 years May 9 732 1,179,000 1,611 2019 Sub SaleCOMPASS HEIGHTS Apartment 99 years May 10 1,238 1,039,888 840 2002 ResaleCOMPASS HEIGHTS Apartment 99 years May 10 1,292 1,080,000 836 2002 ResaleESPARINA RESIDENCES EC 99 years May 13 1,001 1,120,000 1,119 2013 ResaleESPARINA RESIDENCES EC 99 years May 14 1,001 1,100,000 1,099 2013 ResaleFLO RESIDENCE Condominium 99 years May 9 926 920,000 994 2016 ResaleFOREST WOODS* Condominium 99 years May 9 1,238 1,977,000 1,597 Uncompleted New SaleLA FIESTA Condominium 99 years May 7 1,098 1,345,000 1,225 2016 ResaleJALAN ARIF Terrace 999 years May 9 3,218 3,180,000 987 1990 ResalePRESTO@UPPER SERANGOON Apartment Freehold May 14 431 610,000 1,417 2016 ResalePRINCETON VALE Terrace 99 years May 10 1,733 1,870,000 1,081 2001 ResaleRIVERFRONT RESIDENCES* Apartment 99 years May 8 1,679 2,157,000 1,285 Uncompleted New SaleSERANGOON GARDEN ESTATE* Semi-Detached 999 years May 7 2,573 2,800,000 1,089 1997 ResaleSERANGOON GARDEN ESTATE Semi-Detached 999 years May 7 2,799 4,350,000 1,554 Unknown ResaleSERANGOON GARDEN ESTATE Semi-Detached 999 years May 9 2,799 4,460,000 1,592 Unknown ResaleSERANGOON GARDEN ESTATE Terrace 999 years May 9 2,799 3,360,000 1,200 1994 ResaleSUNSHINE GROVE Apartment Freehold May 8 743 865,000 1,165 2003 ResaleTAI KENG GARDENS Terrace Freehold May 10 1,873 2,100,000 1,123 Unknown ResaleTERRASSE Condominium 99 years May 14 1,453 1,500,000 1,032 2014 ResaleTHE FLORENCE RESIDENCES* Apartment 99 years May 7 700 1,032,000 1,475 Uncompleted New SaleTHE GARDEN RESIDENCES* Apartment 99 years May 7 452 677,300 1,498 Uncompleted New SaleTHE WATERLINE Condominium Freehold May 10 2,045 1,985,000 971 2013 ResaleDistrict 20 CENTRO RESIDENCES Condominium 99 years May 8 1,001 1,500,000 1,498 2014 ResaleJADESCAPE* Condominium 99 years May 7 764 1,366,600 1,788 Uncompleted New SaleGARDENIA ROAD Detached Freehold May 10 4,338 5,350,000 1,234 1989 ResaleSEMBAWANG HILLS ESTATE Terrace Freehold May 7 1,970 3,000,000 1,520 Unknown ResaleDistrict 21 DAINTREE RESIDENCE Condominium 99 years May 11 678 1,210,000 1,784 Uncompleted New SaleGREENBANK PARK Semi-Detached Freehold May 8 4,047 4,200,000 1,037 1981 ResaleMAYFAIR GARDENS* Condominium 99 years May 11 872 1,514,000 1,736 Uncompleted New SaleMAYFAIR MODERN* Condominium 99 years May 11 721 1,499,100 2,079 Uncompleted New SaleTOH YI ROAD Terrace Freehold May 7 2,949 4,400,000 1,492 1982 ResaleNOTTINGHILL SUITES Apartment Freehold May 7 398 638,000 1,602 2014 ResaleTHE BLOSSOMVALE Condominium 999 years May 9 1,356 2,053,000 1,514 1998 ResaleDistrict 22 SUMMERDALE EC 99 years May 13 1,195 815,000 682 2000 ResaleTHE CENTRIS Apartment 99 years May 13 969 1,125,000 1,161 2009 ResaleTHE FLORAVALE EC 99 years May 13 1,399 855,000 611 2000 ResaleTHE LAKEFRONT RESIDENCES Condominium 99 years May 9 710 960,000 1,351 2014 ResaleDistrict 23 FORESQUE RESIDENCES Condominium 99 years May 9 1,130 1,300,000 1,150 2014 ResaleHILLINGTON GREEN Condominium 999 years May 7 1,345 1,630,000 1,211 2002 ResaleHILLVIEW 128 Apartment 999 years May 8 1,044 1,120,000 1,073 2002 ResaleHILLVISTA Condominium Freehold May 7 1,216 1,495,000 1,229 2010 ResaleLE QUEST Apartment 99 years May 10 936 1,242,000 1,326 Uncompleted New SalePALM GARDENS Condominium 99 years May 7 1,206 845,000 701 2000 ResalePALM GARDENS Condominium 99 years May 10 1,206 886,000 735 2000 ResalePARK NATURA Condominium Freehold May 9 1,528 1,680,000 1,099 2011 ResalePAVILION PARK Terrace Freehold May 7 2,314 3,160,000 1,365 2011 ResaleREGENT HEIGHTS Condominium 99 years May 7 1,023 793,000 775 1999 ResaleTHE HILLIER Apartment 99 years May 13 624 860,000 1,378 2016 ResaleTHE QUINTET EC 99 years May 9 1,259 936,888 744 2006 ResaleVILLA VERDE Terrace 99 years May 7 2,153 1,600,000 743 2000 ResaleWINDERMERE EC 99 years May 10 1,453 960,000 661 1999 ResaleWINDERMERE EC 99 years May 13 1,432 900,000 629 1999 ResaleDistrict 25 PARC ROSEWOOD Condominium 99 years May 7 431 510,000 1,185 2014 ResalePARC ROSEWOOD Condominium 99 years May 7 431 528,000 1,226 2014 ResaleROSEWOOD Condominium 99 years May 9 1,173 873,888 745 2003 ResaleDistrict 26 MEADOWS @ PEIRCE Condominium Freehold May 9 1,216 1,550,000 1,274 2012 ResaleTHONG SOON ROAD Terrace Freehold May 8 1,776 2,100,000 1,186 1976 ResaleDistrict 27 EIGHT COURTYARDS Condominium 99 years May 10 1,087 1,048,000 964 2014 ResaleORCHID PARK CONDOMINIUM Condominium 99 years May 9 1,195 828,000 693 1994 ResaleTHE CANOPY EC 99 years May 8 872 740,888 850 2014 ResaleTHE ESTUARY Condominium 99 years May 10 592 590,000 997 2013 ResaleYISHUN SAPPHIRE Condominium 99 years May 10 1,195 893,000 747 2001 ResaleDistrict 28 BELGRAVIA GREEN* Terrace Freehold May 10 3,423 2,956,110 864 Uncompleted New SaleJALAN TARI ZAPIN Terrace 999 years May 13 1,453 2,400,000 1,647 Unknown ResaleNIM COLLECTION Terrace 99 years May 8 1,679 2,900,000 1,727 Uncompleted New SaleNIM COLLECTION Terrace 99 years May 12 3,078 3,388,888 1,101 2019 New SalePARC BOTANNIA* Condominium 99 years May 7 969 1,315,000 1,357 Uncompleted New SaleSELETAR HILLS ESTATE Terrace Freehold May 7 1,981 2,530,000 1,276 Unknown ResaleSELETAR HILLS ESTATE Semi-Detached Freehold May 8 2,153 2,600,000 1,208 2000 ResaleTHE GREENWICH Condominium 99 years May 7 1,044 848,000 812 2014 Resale

DISCLAIMER:*Not all caveats lodged are reflected.Source: URA Realis. Updated May 21, 2019. The Edge Publishing Pte Ltd shall not be responsible for any lossor liability arising directly or indirectly from the use of, or reliance on, the information provided therein.EC stands for executive condominium

EDGEPROP | MAY 27, 2019 • EP11

| BY TIMOTHY TAY |

An HDB shophouse along Ang Mo Kio Avenue 4 will be offered in an ERA Realty Network auction on May 28 with a guide price of $2.6 million ($1,429 psf). The two-storey prop-

erty comprises a 958 sq ft shop unit on the ground floor and an 861 sq ft residential flat on the second floor.

The 85-year leasehold property, whose ten-ure began in October 1994, has about 60 years

left in its lease. The shophouse is located at Block 157, which faces the main road, and is close to Mayflower Market and Food Centre. It will also be about 200 metres away from the upcoming Mayflower MRT Station on the Thomson-East Coast Line.

It is uncommon to see an HDB shophouse on the market today as most owners tend to keep the property for their own businesses or as a long-term investment, says Carol Quek, assistant vice-president for auctions and sales at ERA.

“HDB shophouses in mature estates are typ-

ically operated by businesses that serve near-by residents when there are no shopping cen-tres in that location,” she adds. “They usually operate their business downstairs, and have their living quarters upstairs. Today, such shop-houses are no longer built by HDB in newer residential estates.”

Businesses located around the property in-clude health and fitness shops, local eateries, and beauty parlours. An outlet of a financial institution occupied the commercial space of the property for the past 24 years, she says.

It is the first time this property is being of-fered at an auction, and its potential monthly rent ranges from $9,000 to $10,000. The guide price of $2.6 million is “comparable” to recent HDB shophouse transactions in the area, and at the given guide price, the potential rental yield will be “rather decent”, Quek reckons.

This property will be attractive to shop-house investors who are looking for a proper-ty as a long-term investment, as well as busi-ness owners who would like to operate in a neighbourhood centre, she adds.

UNDER THE HAMMER

HDB shophouse in Ang Mo Kio on sale at $2.6 mil

PICTURES: ERA

E

The property comprises a 958 sq ft shop unit on the ground floor and an 861 sq ft residential flat on the second floorThe 85-year leasehold shophouse, whose tenure began in October 1994, has about 60 years left in its lease

Top gains and losses from May 7 to 14

Source: URA, EdgeProp Note: Computed based on URA caveat data as at May 21 for private non-landed houses transacted between May 7 and 14.The profit and loss computation excludes transaction costs such as stamp duties.

Most profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD

(YEARS)

1 HORIZON TOWERS 9 2,486 May 13 1,297 Dec 12, 2003 418 2,185,000 210 8 15.42 THE IMPERIAL 9 1,808 May 9 2,085 Sep 08, 2003 896 2,150,200 133 6 15.73 RICHMOND PARK 9 1,292 May 8 2,563 May 18, 2004 1,239 1,710,000 107 5 15.04 THOMSON 800 11 3,757 May 9 1,158 Dec 01, 1999 807 1,474,484 51 2 19.45 SHEARES VILLE 10 1,399 May 13 1,608 Apr 13, 2006 779 1,160,000 106 6 13.16 CITY SQUARE RESIDENCES 8 1,195 May 9 1,532 Aug 16, 2005 666 1,034,480 130 6 13.77 LE CRESCENDO 14 1,539 May 14 1,212 May 04, 2007 692 799,400 75 5 12.08 TRIBECA 9 1,378 May 13 1,945 Dec 27, 2006 1,427 714,187 36 3 12.49 SHELFORD REGENCY 11 990 May 13 1,413 Feb 01, 2000 826 580,888 71 3 19.310 DELIGHT COURT 14 1,324 May 8 891 Jul 01, 2000 453 580,000 97 4 18.9

Non-profitable deals PROJECT DISTRICT AREA (SQ

FT)SOLD ON

(2019)SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE

($ PSF)LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD

(YEARS)

1 THE SAIL @ MARINA BAY 1 883 May 8 1,926 Dec 21, 2012 2,266 300,000 15 3 6.42 COMPASS HEIGHTS 19 1,292 May 10 836 Jan 30, 2013 993 203,000 16 3 6.33 BURLINGTON SQUARE 7 829 May 9 1,291 Jan 18, 2013 1,496 170,000 14 2 6.34 ASTOR 14 1,109 May 8 825 Sep 25, 2012 897 80,000 8 1 6.65 EASTPOINT GREEN 18 958 May 13 804 Mar 10, 2011 856 50,000 6 1 8.26 CENTRO RESIDENCES 20 1,001 May 8 1,498 May 04, 2012 1,530 31,608 2 0.3 7.07 THE SOUND 15 581 May 13 1,609 May 30, 2012 1,652 25,100 3 0.4 7.08 THE HILLIER 23 624 May 13 1,378 Mar 01, 2012 1,404 16,567 2 0.3 7.2

GAINS AND LOSSES

EP12 • EDGEPROP | MAY 27, 2019

PROP HUNT CLASSIFIEDS

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Properties for Sale To be featured, email shermie.tee@edgeprop.sg or call 8822-2997

$6,200,000Semi Detached HouseD15 EAST COAST | Freehold Built-Up(sqft): 3,100 | Land(sqft): 4,288PSF: $1,446

Good price for landed in the East! This 7-room Semi-D was rebuilt on a large elevated plot, has an open concept design with plenty of natural light. Potential to be developed into standalone detached. Near amenities, schools, MRT, ECP, PIE, city & sea.

Lisa Wong PROPNEX REALTY PTE LTD R059194J

65 9178 9080

Catherine Lee PROPNEX REALTY PTE LTD R009414I

65 9847 3817

$7,500,000Semi Detached HouseD11 VANDA ROAD | Freehold Built-Up(sqft): 3,821 | Land(sqft): 3,593PSF: $2,087

Great family home in Super School District! Beautiful 2 storey Semi-D. Delightfully landscaped with koi pond. Face South East. 5 mins walk to Sixth Ave MRT. Near Hwa Chong Institution / Raffles Girls’ Pri Sch / Nanyang Pri. Sch. A convenient & character-filled home!

$4,480,000Semi Detached HouseD28 SELETAR HILLS ESTATE | 999 years Built-Up(sqft): 5,000 | Land(sqft): 3,434PSF: $1,305

Fall in love with first sight at this Beautiful 2.5 sty Semi-D @ Seletar Hills Estate. Walking distance to Greenwich V and Amenities. Nearest school are Hougang Primary school & Rosyth School.

Rosebelle ChuaPROPNEX REALTY PTE LTDR009616H

65 8288 9815

Cheng Ching ChingSLP SCOTIA PTE LTD R0060569J

659845 2567

$4,200,000Conservation HouseD15 KOON SENG ROAD | FreeholdBuilt-Up(sqft): 2,700 | Land(sqft): 1,700PSF: $2,471

Colorful Peranakan House For Sale. Nestled in the heart of Joo Chiat, surrounded by eateries and splashes of Peranakan culture. Be dazzled by its Rich Architectural Heritage and a Picturesque Facade. Truly a Limited Edition not to be missed!

$3,700,000Terrace HouseD20 JALAN KURAS | FreeholdBuilt-Up(sqft): 4,400 | Land(sqft): 2,584PSF: $1,432

Designer home with double volume ceiling height in living room and floating staircase. This 2.5 storey inter-terrace, has big land size of 2,584sqft. It is situated on high ground with lots of privacy. This house is within 1km to CHIJ St Nicholas Primary School.

Faye Tan HOME GURU PTE LTDR023644Z 65 9169 0096

Jerry Lum ERA REALTY NETWORK PTE LTDR024730A

65 8288 0098

$7,900,000440 Serangoon Road - Shophouse for saleD19 SERANGOON ROAD | FreeholdSize(sqft): 1,646 | PSF: $4,800

Newly Rebuilt Conservation Shop House @ Little India. Built in area: 4,800 sq feet over 4 storeys with elevator. Free Hold/Land size 1,610 sq feet. On Serangoon Road: 1 min to Farrer Park MRT Station. Tenanted: $15,000 a month.

$1,580,000The Central - Office for saleD1 EU TONG SE STREET | 99 yearsSize(sqft): 646 | PSF: $2,446

Best investment opportunity! Tenant since year 2015 (Oil & Gas Industry) renew tenancy till June 2021 @$4.1k/month. 23rd floor Office above Clarke Quay MRT. Asking: $1.58m - rental yield: 3.11%. Viewing strictly on weekdays. Call Nick @ 8588 8868.

Nick TanORANGETEE & TIE PTE LTDR052618I

65 8588 8868

Jason TanERA REALTY NETWORK PTE LTDR048613F

65 9119 1175

$980,000The CanopyD27 YISHUN AVENUE 11 | 99 YEARSSize(sqft): 1,055 | PSF: $929Bedroom: 2

Cheap! Only $929psf for a park and greenery facing, full privacy, premium view, 5yo condo. Spacious bedrms unlike others. Extensive renovation as featured in property magazine. Well maintained immediate move in!

$15,000,000Detached HouseD5 WEST COAST ROAD | FreeholdBuilt-Up(sqft): 15,000 | Land(sqft): 9,896PSF: $1,516

A sophisticated and luxurious retreat that reflects that magical merging of inspiration and architecture. Every details are carefully selected and quality crafted. Various amenities within 5min walk away. Be amazed by this luxurious bungalow with facilities - Gym, Pool, Badminton court and more!

Jenny YeoPROPNEX REALTY PTE LTDR011509Z

65 8333 0883

Jenny YeoPROPNEX REALTY PTE LTDR011509Z

65 8333 0883

$10,500,000Detached HouseD15 HAIG ROAD | FreeholdBuilt-Up(sqft): 5,000 | Land(sqft): 8,843PSF: $1,187

Beautiful land shape, with frontage 24.5m wide. Land 8,843sf. Situated in the centre of District 15 where eateries, shopping malls, schools, public transport are a stone throw away. Motivated seller, you can’t miss this rare gem!

Adrian ChayKF PROPERTY NETWORK PTE LTDR057187G

65 9474 8825

$2,900,000Ghim Moh Road - HDB Shophouse for saleD10 GHIM MOH ROAD | 99 yearsSize(sqft): 1,474 | PSF: $1,967

2 Storey Shophouse. Strong 5 years Lease to Corp. F&B Tenant, S$10,200 monthly Returns. No GST. Great for Investment. Fantastic Location in Mature Estate, Easy Access with Parking. 5 Mins Walk to Buona Vista MRT, near Commonwealth, Dover & Holland Village. Serious Seller, Price Negotiable.

$3,380,000Terrace HouseD13 HAPPY AVENUE EAST | FreeholdBuilt-Up(sqft): 3,638| Land(sqft): 2,067 PSF: $1,635

Designed by one of Spore’s Award Winning Architect. Wit & thoughtfulness interlinks the spaces. Natural lighting dances as highlight in contrast to the bold architectural elements. A ‘WOW’ Masterpiece to own. Call for OPEN HOUSE details.

Cheng Ching ChingSLP SCOTIA PTE LTD R060569J

65 9845 2567