One North Residences (D5, 99 years, Kheng Leong/UOL/Low Kheng Huat)

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Location: South Bouna Vista/Pasir Panjang (D 5)

No. of Units: 405 (75 SOHO)

Unit sizes/types: 1/2/2+S/3/4/PH with sizes from 558 to 3,200 sf (8 storey SOHO block and 14 storey residential block)

Type of Development: Mixed residential/SOHO

Tenure: Leasehold 99 years

Expected Completion: 2009/2010

Expected Prices: $850 psf

Remarks: Similar to recent Southbank Project

Kheng Leong's One North project hit 50% sales today, just VVIP invites only. Apparently prices have hit $1000psf from what I heard.

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Originally Posted by Unregistered

Kheng Leong's One North project hit 50% sales today, just VVIP invites only. Apparently prices have hit $1000psf from what I heard.

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oh my god that IS sick.. $1,000psf for 99 year LH in clementi... and i thought Metropolitan prices were unbelievable... this One North really takes the cake.. like all markets, the higher we climb the harder we fall...

Published March 8, 2007

About 10% of One North Residences sold: sources

Prices range from $800 to $900 psf during preview

By UMA SHANKARI


ABOUT 10 per cent of apartments at the 405-unit One North Residences have been sold so far this week at prices of $800 to $900 per square foot, BT understands.

Sources say that units in the project, which is a joint venture between UOL Group and privately held Kheng Leong, started previewing to invited guests earlier this week, and since then, about 10 per cent have been snapped up.

Prices can be expected to climb slightly during the official launch, market watchers said.

The good response means that United Engineers (UE), which was originally planning to launch its nearby 368-unit One Rochester later this month, can now be expected to push out the project quite soon.

Right now, the showflats for One Rochester are being built, and UE will launch the project once everything is ready, BT understands.

One Rochester is part of a mixed development that includes a hotel, serviced apartment block and a retail complex. It has units ranging from 770 square feet to 2,900 sq ft, though most are 1,500 sq ft three-bedders.

Industry players had earlier speculated that both UE and the UOL-Kheng Leong partnership were waiting for the other to launch its project, with the second project taking its pricing cue from the first.

This was especially important for the developers when it comes to the $15 billion 200-ha research hub one-north, which is relatively untested when it comes to its residential potential. One-north can accommodate about 20,000 residential units in all.

With One North Residences setting the tone, One Rochester will likely be launched at prices higher than the $800-$900 range, said one observer.

Also this weekend, Bukit Sembawang Estates will launch the final phase of Mimosa Terrace on Mimosa Road in the Yio Chu Kang/Seletar area.

Some 44 units are available in this phase, with 'intermediate' units going for $1.3 million each, and corner terraces offered at $1.5 million apiece.

This article's 10% was actually 2 days ago. Right now it is close to 80% sold already!

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Originally Posted by Unregistered

This article's 10% was actually 2 days ago. Right now it is close to 80% sold already!

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ARE YOU SURE?! 80% SOLD OF 405 UNITS? OR PHASE 1 RELEASE? DUN CAUSE PANIC LEH!

March 9, 2007

Over 80% of One North Residences sold in 3 days

Prices for units up as high as over $1,000 psf, with average cost now at $885 psf

By Joyce Teo, Property Correspondent


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NEW KID ON THE BLOCK: The 99-year leasehold condominium (above) is the first to be marketed at the 200ha research hub one-north at Buona Vista. Coming up next in the area is the 368-unit One Rochester, which developer United Engineers expects to release for sale in mid-April.



ALL but 70 units of the 405-unit One North Residences have been snapped up in just three days at private previews.

It is the first condominium to be marketed at the $15 billion 200ha research hub one-north at Buona Vista.

Units were sold at prices ranging from about $550,000 to $2.4 million. The highest transaction was done yesterday at over $1,000 per sq ft (psf), market watchers said.

On average, prices are now hovering around $885 psf, up from $850 psf on Tuesday.

Most of the buyers - possibly around 80 to 90 per cent - are Singaporeans, market watchers said.

As of last night, around 70 units were unsold, most of them one-bedroom units, now priced at about $950 psf.

The soft launch of One North Residences was planned for tomorrow. Sales started on Tuesday with a staff preview, when directors, staff and other buyers picked up 60 units and prices were raised by 2 to 5 per cent, said market sources.

These buyers included those on an elite list, such as senior civil servants and prominent businessmen.

Wednesday was reserved for the bulk purchasers, including funds interested in buying several units at one ago.

Invited home buyers packed the show-flat yesterday, picking up many more units of the 99-year leasehold condo.

All the nine penthouses ranging from 1,970 sq ft to 3,251 sq ft, as well as all the two-bedroom units have been sold.

The condo will be developed by a joint venture between UOL Group, Low Keng Huat and privately-held Kheng Leong.

While its apartments come in a wide range of sizes, most of them are the one- and two-bedroom apartments, ranging from 592 sq ft to 1,259 sq ft.

There are also 85 single-level and duplex small-office, home-office units, which range from 517 sq ft to 1,281 sq ft, and 20 shops.

Market watchers say some home buyers bought to speculate, while others bought into the area's prospect as a thriving research hub.

The condo is marketed by Knight Frank and Savills Singapore.

Next up at one-north is the 368-unit One Rochester, which developer United Engineers expects to release for sale in mid-April.

The condo is part of a mixed development that includes a block of about 300 hotel rooms and service apartments, and a retail podium with about 100,000 sq ft of space.

The hotel rooms, service apartments and shops are only for lease.

[email protected]

Left a few units.

Rumours say that One Rochester will be launching at above $1,000 psf, given the tremendous response generated by sales of one-north residences.

one-north is the next pillar and the happening place. One-North Residences just sits right in the middle of one-north. The launch was a success. It was very smart of One Rochester to launch after One-North Residences. One Rochester can now make more profits.

One Rochester will be launching at above $1,200 psf. This is cool! Anyway, I have just rejected a $900psf offer for my 3-bedroom unit.

It may be the 'next happening place' but does that warrant a pricing like $1k psf? Please note: this $1k psf is for something totally untried and untested! here has not been a benchmark for residential property here! The nearest condo, Dover Parkview, is DIRT CHEAP!

Wee Cho Yaw and co. must be laughing their way to the bank now man!!!! :D :D

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Originally Posted by WHAM

It may be the 'next happening place' but does that warrant a pricing like $1k psf? Please note: this $1k psf is for something totally untried and untested! here has not been a benchmark for residential property here! The nearest condo, Dover Parkview, is DIRT CHEAP!

Wee Cho Yaw and co. must be laughing their way to the bank now man!!!! :D :D

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The highest psf done for One-North Residences is $1,100 psf.
Does One-North Residences warrant $1,100 psf? Perhaps nobody here can answer this question. Only the launch of One Rochester will answer this question. Let's wait 2 more weeks for the answer.

Is there a thread on One Rochester? We need more information.

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Originally Posted by Rochester Park

Is there a thread on One Rochester? We need more information.

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There is one now. Go check it out.

Which stack(s) in One-North Residences has/have the best facing?

By Daryl Loo, Channel NewsAsia
20 March 2007 1613 hrs

Drugmaker GlaxoSmithKline (GSK) is boosting its operations in Singapore with a new Medicinal Chemistry laboratory.

The S$20 million lab at the Biopolis complements GSK's existing biology facility here.

The new lab will turn GSK's scientific discoveries into usable drugs for cognitive and degenerative ailments like Alzheimer's disease.

GSK's new Medicinal Chemistry lab will have 27 chemists working side by side with GSK's existing biologists in the same building.

The area of 900 square metres more than doubles the space that GSK takes up in the Biopolis complex.

Dr Paul Chapman, Head, GSK Centre for Research, said: "We felt from the start that it is absolutely essential for us to have an integrated facility in which all the important aspects of making medicines are located in one place.

"So the opportunity to have this state-of-the art medicinal chemistry laboratory here, integrated completely with our biology laboratories within this fantastic environment in Singapore in which we have enthusiastic young scientists to combine with our experienced scientists, has really made it possible for us to do drug discovery."

Chemists at the lab will conduct work such as synthesising and purification of chemical compounds, with the aim of making them suitable for treating human patients.

The target is to have one such compound ready for clinical trials by the end of this year.

"We intend to develop drugs that will treat both the progress of the disease – that is we want to slow the degeneration in the brain that causes Alzheimer's – and also to treat the symptoms, so that people who are currently suffering from Alzheimer's disease will have an improved quality of life," said Dr Chapman.

The lab was launched by A*Star Chairman Philip Yeo on Tuesday.

He noted that Singapore is stepping up its training of specialised chemists to meet the needs of pharmaceutical companies like GSK to create drugs.

Mr Yeo said: "Chemistry is critical to drug discovery efforts as it is used to identify and optimise small molecule drug candidates. Due to the specialised skill sets required, the industry is currently facing a global shortage of good chemists.

"To address this issue, Singapore has been actively expanding our chemistry manpower through a comprehensive range of training programmes."

These include a programme at A*Star's Chemical Synthesis Laboratory, now training 20 post-doctorate researchers.

I just past by One-North Residences on my way to NTU Alumni Club. The location is good, especially those facing Nepal Park. Nowaday, where to find a place that faces the green?

There is a subsale done at $1,100 psf lately. Hopefully, the price can move further up.

The target is around $1,500 psf.

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Originally Posted by Observer

There is a subsale done at $1,100 psf lately. Hopefully, the price can move further up.

The target is around $1,500 psf.

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Relatively speaking, in comparing to bankers, top lawers or CEO of MNC, Sicentists and academics don't make money at all. Ironically, one north is right next to Biopolis, all the doctors friends at biopolis told me that they can't even afford Dover Parkview. I guess you have to go to shenton way to pursuade the tp earners to move to one north. My advice is if you can make a small profit, get out fast!

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Originally Posted by one-north

I just past by One-North Residences on my way to NTU Alumni Club. The location is good, especially those facing Nepal Park. Nowaday, where to find a place that faces the green?

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Check out The Raintree (new development within the Bukit Timah Nature Reserve). Price is just half of what One North is asking.....

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Originally Posted by Unregistered

Relatively speaking, in comparing to bankers, top lawers or CEO of MNC, Sicentists and academics don't make money at all. Ironically, one north is right next to Biopolis, all the doctors friends at biopolis told me that they can't even afford Dover Parkview. I guess you have to go to shenton way to pursuade the tp earners to move to one north. My advice is if you can make a small profit, get out fast!

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I totally agree on what you said. The rent one needs to ask for to get a decent yield will be just TOO HIGH for most of the people working in the area to rent... What happens then? Many units will be left vacant. Scientists (usually older folks) whom made a lot of $$ (tho not many of them) will choose to live in the B/W houses provided by the government.... I already know a few of them living there. These people will never wanna stay in a condo like One North.

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Originally Posted by Observer

There is a subsale done at $1,100 psf lately. Hopefully, the price can move further up.

The target is around $1,500 psf.

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Don't listen to these fools.
I can bet with you/them that $1,500 psf can be reached for One-North Residences subsales.
Let's mark this post and revisit it when the price is reached.

$550 psf, they say it's too high.
$750 psf, they say it's too high.
$1,200 psf, they say it's too high.
Would they not say $1,500 psf is too high?

Would they not say $4,000 psf is too high?
Would they not say $6,000 psf is too high?

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Originally Posted by camelot

Check out The Raintree (new development within the Bukit Timah Nature Reserve). Price is just half of what One North is asking.....

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What's do good about The Raintree?
If it is so good, why is nobody buying?

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Originally Posted by Teacher

What's do good about The Raintree?
If it is so good, why is nobody buying?

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FYI,
Two months ago, it was 80% sold
As of yesterday, it was 97% sold (and price alrady increased by more than 15% since two months ago)
It will not surprise me if it is 100% sold by next week

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Originally Posted by Big Whale

Don't listen to these fools.
I can bet with you/them that $1,500 psf can be reached for One-North Residences subsales.
Let's mark this post and revisit it when the price is reached.

$550 psf, they say it's too high.
$750 psf, they say it's too high.
$1,200 psf, they say it's too high.
Would they not say $1,500 psf is too high?

Would they not say $4,000 psf is too high?
Would they not say $6,000 psf is too high?

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If the game of "musical chair" is on, take adavtage of it, but beware, the music could be very short. Greed can make you reach, but it can get you burnt as well, be prepared to face the consequence of your decision

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Originally Posted by Unregistered

If the game of "musical chair" is on, take adavtage of it, but beware, the music could be very short. Greed can make you reach, but it can get you burnt as well, be prepared to face the consequence of your decision

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5 years musical chair? Then it should be OK. Still have enough time to make more. Made some already. I will let you know how much more I can make. Thanks.

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Originally Posted by Unregistered

FYI,
Two months ago, it was 80% sold
As of yesterday, it was 97% sold (and price alrady increased by more than 15% since two months ago)
It will not surprise me if it is 100% sold by next week

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So you think a project that needs 2-3 months to sell out is great compared to one that needs only 2-3 days?

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Originally Posted by Teacher

So you think a project that needs 2-3 months to sell out is great compared to one that needs only 2-3 days?

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Real investors look for values, speculators look for quick returns
This would explain despite all the terrible downturns in the past decades (financial meltdown in asia, SARS, 911), the wealthy folks emerge far wealthier than before. These are the folks who invest heavily into undervalue "assets". When castrophic events strike, "undervalue" assets are everywhere, but in boom time like this, undervaule assets are still aplenty, but just need to do homework.

Everyone thought they know the golden rule in investment is, "buy low, sell high", but in reality, most folks practicing to "buy high, sell low"
just my two cents worth

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Originally Posted by Big Whale

5 years musical chair? Then it should be OK. Still have enough time to make more. Made some already. I will let you know how much more I can make. Thanks.

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Good to hear you already made some,
don't be greedy now

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Originally Posted by Big Whale

Don't listen to these fools.
I can bet with you/them that $1,500 psf can be reached for One-North Residences subsales.
Let's mark this post and revisit it when the price is reached.

$550 psf, they say it's too high.
$750 psf, they say it's too high.
$1,200 psf, they say it's too high.
Would they not say $1,500 psf is too high?

Would they not say $4,000 psf is too high?
Would they not say $6,000 psf is too high?

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No one can exactly predict how far this prop boom will go... But ask yourself this - Do you wanna be holding on to the "highest" priced development in a vicinity which is selling half the price of what you're holding? No risk no gain I suppose... but do consider the risk/reward ratio. Worth it? I doubt....

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Originally Posted by Teacher

So you think a project that needs 2-3 months to sell out is great compared to one that needs only 2-3 days?

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The property was first launched in Jan 2006 when the market was very preoccupied with just the high end developments. Tho mass market projects were not flying then, Raintree managed to sell reasonably well. Then as the market picks up... the developer started to slow down on marketing the project becoz they know it can fetch better pricing later on. Mind you the proj was just priced from S$450+psf upwards when it was first launched.... Today, it's S$600+psf... and only 10 units left. Development has 315 units.