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SC GLOBAL will launch Martin No 38 next month at an average price close to $2,000 per square foot.

The company said in a statement yesterday that the 91-unit development in Martin Road, near Mohammed Sultan Road and Clarke Quay, will mostly comprise one-plus-one bedroom and two-bedroom apartments ranging from 969-1,130 sq ft. There will be a limited number of larger two-plus-one and three-bedroom apartments, ranging from 1,335-1,485 sq ft.

Knight Frank director (research and consultancy) Nicholas Mak said the pricing appears a little ‘bullish’ but the developer may feel the project’s ‘design’ merits this.

A unit in nearby Robertson Blue sold recently for around $1,800 psf, he said.

And in March, it was reported that about 30 units at Martin Place Residences in Kim Yam Road sold for an average price of of about $1,800 psf after discounts.

SC Global is best known for developing high-end niche projects. And according to its chairman and chief executive officer Simon Cheong: ‘There is always room for the right product. Martin No 38, with the SC Global reputation for quality, will be unique and original. We are confident it will be well received.’

The development is designed by award-winning architect Kerry Hill. It is based on warehouse lofts in New York and London and features high ceilings and seamless interior spaces.

SC Global says: ‘An austere and beguiling industrial aestheticism pervades the details of this development, from the blackened tap fittings to the sheet-metal panels in the bathrooms, with their exposed bolt heads, unplastered interior concrete walls, exposed plywood edges of the cabinetry and acres of unvarnished timber.’

SC Global bought the site in 1999 but deferred development until the area had ‘rejuvenated itself and the context for this housing concept became ripe’.

SC Global projects under construction include The Marq on Paterson Hill and Hilltops at Cairnhill. The group has a landbank of more than 1.1 million sq ft of gross floor area in the Orchard Road and at Sentosa Cove.

Source : Business Times - 13 Aug 2008

SC GLOBAL is introducing New York-style warehouse living to Martin Road - a first for Singapore - with prices that will be set above the market average.

Like warehouse lofts in Lower Manhattan, the flats will feature high ceilings and seamless interior spaces that can be separated at will, using walls that slide and hide away.

And unlike traditional high-end developments here, Martin No. 38, as the project is called, will have a more rugged design of raw concrete, base metal finishes and unvarnished timbers.

Australian architect Kerry Hill is designing the project, which is on the site of a former warehouse near the Singapore River.

The freehold development, which will be launched later this year, will be 15 storeys high with 91 units, including four penthouses with pools.

Most of the units will be small - from 969 to 1,130 sq ft each - but there will be some larger ones of 1,335 to 1,495 sq ft each.

SC Global is aiming to sell the units at an average of $2,000 per sq ft (psf).

Prices of projects in the same area are around $1,200 to $1,850 psf, according to Knight Frank. Newer projects like 8 Rodyk cost more - a 721 sq ft apartment sold at $1,800 psf last month.

But market sentiment remains weak, with buyers staying away, especially from the high-end sector, which surged dramatically last year.

Prices have since slipped while activity has slowed considerably. But there is always room for the right product, said SC Global chairman and chief executive Simon Cheong, who is confident Martin No. 38 will be well-received.

SC Global bought the site in 1999 but said it deferred development until the area was rejuvenated and the concept of warehouse lofts became viable.

Source : Straits Times - 13 Aug 2008

In this new weekly column, we bring you a sampling of properties up for sale around the island. In the spotlight this week and next: New project launches.

Whitley Villas
freehold
115 Whitley Road
Units: Six semi-detached houses and two cluster bungalows

Prices: $3.5 million for a semi-detached house, $4.5 million for each bungalow

Launch date: Yesterday

Developed by the Fortune Group, this series of two-storey houses, with attics, is located in an established residential area near the Catholic Junior College.

The semi-detached units range in size from 2,895 sq ft to 3,024 sq ft.

Also on offer are two cluster bungalows - one 4,219 sq ft and the other, 4,316 sq ft, in size.

Huit Terraces
999-year leasehold
6-10 Meng Suan Road

Units: Eight terraces

Prices: $2.3 million for corner units and $1.75 million for intermediate ones

Launch date: Yesterday

The main draw of these three-storey terrace houses is a private infinity pool on the second floor of each unit.

The corner houses each have a land area of up to 3,162 sq ft, with a built-up area of up to 5,134 sq ft.

The intermediate units each have a land area of 1,957 sq ft and a built-up area of 3,912 sq ft.

East Coast Residences
freehold
412 Upper East Coast Road

Units: 59

Prices: From $994 per sq ft (psf), averaging $1,125 psf. Monthly maintenance estimated at $225 to $360

Expected launch date: April/May, but previews are ongoing now

This project, near the Lucky Heights area, offers mainly smaller units, starting at 517 sq ft for a one-bedroom unit with a study and going up to 1,238 sq ft for the three-bedroom units.

There are also 10 penthouses, from 1,378 sq ft to 1,679 sq ft in size. Floors are marble in the living and dining areas and timber in the bedrooms. Wardrobes, kitchen cabinets and ovens are provided.

Ventura View
freehold
16 Rambutan Road, off Joo Chiat Place

Units: 24

Prices: $800 to $950 psf

Launch date: This week

Located near several well-known eateries, Ventura View offers a wide range of units, from studios starting at 397 sq ft in size to a four-bedroom penthouse that spans 2,286 sq ft.

The project, by construction firm DJ Builders, comes with a swimming pool, a gym and barbecue areas.

Source : Sunday Times - 6 Apr 2008

FRASERS Centrepoint has sold 80 per cent of its Soleil @ Sinaran condo near Novena MRT Station at an average price of nearly $1,500 psf, with 173 units sold at yesterday’s soft launch, following last week’s staff and VIP preview when 156 units were sold.

Soleil @ Sinaran

The 99-year leasehold condo seems to have attracted predominantly Singaporeans and permanent residents, according to Frasers Centrepoint Homes chief operating officer Cheang Kok Kheong.

Buyers included a mix of investors as well as likely owner occupiers, drawn by the project’s location and its proximity to the Orchard Road belt, he added. There was a buyer who purchased an entire floor of seven apartments, Mr Cheang revealed.

‘Those who’re buying properties are basically looking at a long-term investment and the real economy here is still doing well,’ Mr Cheang said in explaining why the US sub-prime woes and global stock market rout seem to have had little impact on Soleil buyers.

Soleil @ Sinaran comprises two 36-storey blocks. Apartments come with one, two, three and four bedrooms. Frasers Centrepoint will release the project’s four penthouses - each with five bedrooms - at today’s official launch. Their prices start from $8.5 million.

Source : Business Times - 17 Aug 2007

Despite fears of dampened demand caused by the Hungry Ghost Festival and the US sub-prime crisis, a condominium near Novena Square managed to sell off 80 per cent of its 417 units in just four days, ahead of its launch today.

Soleil @ Sinaran, the latest lifestyle residential condominium by Frasers Centrepoint Homes (FCH), sold an impressive 173 units at its preview yesterday, following a private viewing at the weekend which saw 156 units snapped up.

Located close to the Novena MRT station, the units — ranging from studios to loft apartments and penthouses — are priced at an average $1,500 per square foot.

Designed to suit urbanites, the condominium — which, upon completion, will be the biggest development in the area to date — features a flagship partnership with Aramsa Spas, which will provide residents with private spa treatments.

“Discerning homebuyers today no longer just purchase the conventional ‘four walls’ but look for the X-factor,” said Frasers Centrepoint Limited’s chief operating officer Cheang Kok Kheong.

Other features include entertainment and spa pavilions and a sports bar on the sky terrace.

FCH will be launching two more development projects — an as-yet unnamed 302-unit development in Kim Yan Road in October, and a joint-venture project with Far East Organisation at Bedok Reservoir later this year. — Daphne Chuah

Source : Today - 17 Aug 2007