Miro (D11, Freehold, Far East Organization)
http://www.businesstimes.com.sg/sub/...94318,00.html?
Published August 28, 2008
Developers weigh odds for launches after Ghost Month
Some may want to test market now rather than risk deterioration in sentiment
By KALPANA RASHIWALA
(SINGAPORE) Some developers have been quietly oiling their launch machinery in the past few weeks as they get ready for previews and launches, especially with the Hungry Ghosts Month ending this Saturday.
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Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. The freehold project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft.
With the property outlook expected to worsen before it gets better, there may just be an incentive for some to launch their projects sooner - or wait it out till late-2009/2010, a seasoned property consultant told BT.
Another consultant, Knight Frank executive director Peter Ow, said: 'Whatever name you call it - preview, private invitation, etc, the aim is for developers to test the market. If the response is sufficient at the price they want, they'll begin sales. If the response isn't up to what they want, they won't sell. As a developer, you don't want to risk launching a project, selling a few units and getting stuck.'
Projects that have begun to be previewed this month include Far East Organization's 85-unit freehold Miro at the corner of Lincoln and Keng Lee roads (at an average $1,600 per square foot) and a 54-unit cluster housing project at Greenwood Avenue. Units in the 103-year leasehold development range from 3,000 to 3,700 sq ft.
Over at Nathan Road, Tat Aik Group has been inviting potential buyers to view Nathan Residences, a 91-unit freehold project priced at around $2,000 psf on average.
Keppel Land is also expected to release this weekend in Hong Kong and Singapore about 30-40 units under the next phase of Reflections at Keppel Bay.
The average price is expected to be similar to the earlier phase launched around April last year, at about $1,800 to $2,000 psf. Deferred payment is expected to continue to be offered.
Hong Fok Corporation's 360-unit Concourse Skyline apartments at Beach Road, KepLand's 56-unit freehold Madision Residence near the junction of Bukit Timah and Keng Chin roads, and City Developments Ltd's The Arte at Thomson are understood to be other projects that could hit the market soon.
In the high-end segment - where sentiment is weakest - Far East Organization, which has already sold two units at its 28-unit luxury development Boulevard Vue at Cuscaden Road, opened its showflat for the project recently and is expected to step up marketing activity.
The project's 26 apartments (one per floor) are about 4,500 sq ft each, while the two duplex penthouses occupying the top four levels are 8,000-plus sq ft and 11,000-plus sq ft. Prices for low- and mid-level units in the 33-storey freehold project range from $3,600 psf to $3,900 psf.
BT understands the price tag for the bigger penthouse will likely be around the $4,500 psf mark, working out to an absolute sum of about $50 million. If achieved, the absolute amount would set a new record for a penthouse in Singapore.
Boulevard Vue's facade will be designed by well-known Japanese interior designer Super Potato. BT understands that the unit layouts will be customised to buyers' preference.
A critical factor affecting developers' launch decisions is pricing, given the bearish sentiment.
'Pricing will be more realistic for fresh launches, but for projects released earlier, it would be difficult for established developers to trim prices without upsetting earlier buyers, especially VIPs,' the seasoned property consultant said.
Agreeing, Jones Lang LaSalle Singapore's residential head Jacqueline Wong said: 'Such developers may just hold the remaining units in the project if necessary and have another shot at selling them upon the project's completion. For new projects too, the financially stronger players can hold off developing for a while.
'However, developers who are fairly new or need the cashflow will have to be realistic in their pricing and will be more amenable to negotiating with buyers.'
Another industry observer said that instead of outright price cuts, it may be easier for developers to attract new buyers into existing projects by offering furnishing vouchers, guaranteed yields (for newly completed projects) or arranging for attractive mortgage packages.
A mid-sized developer said: 'We have to accept the fact that prices have to be marked to market; otherwise we can't sell enough units to generate the required cashflow. For sites bought within the past 12 months, developers would need to sell at least 50 per cent of the development to generate sufficient cashflow to finance the project's construction - taking into account high land price paid and rising construction costs, among other factors.'
Miro - Indulgence in Barcelonian art living
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Miro - Indulgence in Barcelonian art living
A loft at the Miro
With its air lofts and pristine lines, Miro is minimalist chic at its best. Text Lynn Seah
It is easy to see why it’s not just artists and Bohemians who find lofts appealing. The high ceilings and well-lit interiors so beloved of painters are also alluring to anyone who loves large, fluid spaces and the possibilities they offer.
It is an attractive style of living that is available at Miro. Far East Organisation’s upcoming project in the Newton area. Featuring 85 freedhold units, all with double volume site at the junction of Keng Lee and Lincoln roads.
The sense of space in the airy lofts, which range from 99sqft for a one-bedroom to 5,800 sq ft for a loft penthouse is, accentuated by balconies that extend from the living rooms and master bedrooms, giving each home a private outdoor space.
The outdoors is further integrated into the development through each seven landscaped terraces, located at four-storey intervals on the 31-storey tower. Residents can chat over cuppa in the garden pavilions of these sky terraces, which come equipped with pantry facilities.
Amenities on the first and second floors provide more opportunities for interaction. There’s a fitness area, children’s playground and dog run on the first floor, and those who prefer more relaxing pursuits can head for the spa pools, massage suits and Vichy showers on the second floor. The second floor also has a barbecue and outdoor dining deck where residents can entertain guests.
With delightful shared spaces like these, home owners may well be tempted to treat them like as an extension of their living rooms. Indeed, Miro was designed to facilitate socializing and active healthy living.
As ample light streams through its windows, balconies and sky gardens, Miro offers creative home owners and inviting canvas on which to stretch out their ideal habitat. The color and greenery from the garden terraces that punctuate the tower at regular intervals, and the interplay of light and shadow created by the recesses, ledges and balconies on the façade, also add interest to the clean lines of the building.
Vibrant, bright and spacious, plus an enviable location close to several prestigious schools, Orchard Road and the shopping and dining hub of Novena – the draw of Miro is almost too picture perfect to resist. LM>
FACILITIES
1st Storey
Outdoor Recreational Facilities
• Entrance Water Features
• Lounge Deck
• Children's Playground
• Fitness Court
• Fern Garden
• Dog Run
2nd Storey
• Lap pool
• Hydrotherapy Sanctuary Spa Beds
• Spa Sanctuary
• Dreamscape Sanctuary
• Entertainment Court
• Splash Pool
• Deck Lounge
• Steam Rooms
AMENITIES
• Novena MRT Station
• Newton Hawker Centre
• Orchard Road shopping & entertainment belt
• Cairnhill Community Club
• Cairnhill Art Centre
• The American Club
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The vinicity mapping of Miro location
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The layout sitemap
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Additional information- updated 4th May 2009
Miro - Located at 1 lincon road next to United Square.
Price at $1500.00 with 2 years rental gurantee currently selling for 3th or 5th floor.
Total storey: 32
Site area: 40,204 sqft.
Total units: 85 units.
Total tower: 1
Interested: Please call Aaron | 9028 7921
The Art of Loft Living @ Miro (Lincoln road)
Brand New Unique Building Design
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Tenure : FreeHold
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Brand New Development
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Situated at No. 1 Lincoln Road
FreeHold
1/2/3 loft bdrm units (Double Storey)
Unque structure
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Miro is close to cosmopolitan Orchard Road as well as bustling Novena.
Newton MRT station is also within walking distance.
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The 1st storey has been zoned for outdoor activities such as the children’s playground and fitness area,
The 2nd storey deck is dedicated for reposeful spa living. Weekend dinners can also be held by the spa pool or entertainment terrace.
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The concept of extending the living space is further evident in the landscaped terraces on the 3rd, 9th, 13th, 17th, 21st, 25th and 29th storeys. With pantries designed as an integral amenity in the garden pavilions, breakfast under the skies can be experienced on these sky terraces.
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View the Showflat today - 9061-9884 Roger Tan