SC Global to launch Hilltops in Q2/Q3 2007

Published March 13, 2007

SC Global to launch Hilltops in Q2/Q3 2007

Strong interest in project before release of details

By UMA SHANKARI


SC GLOBAL Developments yesterday said that it would be retaining the name Hilltops for its upcoming 240-unit luxury project on the former Hilltops Apartments and adjoining terrace houses site at Cairnhill Circle, which will be launched in the second or third quarter of this year.


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Height of luxury: The 240-unit high-end development will be the first in Singapore to have a resort-style steam spa room in every apartment


Market sources said that units at Hilltop will be launched at between $2,500 and $3,000 per square foot.

The project is the second to be announced by the boutique developer this year. In January, SC Global said that The Marq on Paterson Hill will be launched by the third quarter of 2007. That project could be priced upwards of $3,000 psf, chief executive officer Simon Cheong was quoted as saying in a news agency report.

For Hilltops, the price and launch date will be announced at a later date, said SC Global.

Interest in Hilltops is already very strong, even before the project's details were unveiled, SC Global said. Sources said that both The Marq and Hilltops have also received interest from funds looking to acquire whole floors.

The development's 240 apartments will be housed in three blocks - two of 20 storeys and one 14-storey. Four penthouses - three regular penthouses and one super penthouse - will occupy the top floor of the two tallest blocks, each with a private pool on the roof terrace.

Most units at Hilltops will have three or four bedrooms, ranging from 1,600 sq ft to 3,000 sq ft, although two and five-bedroom units will also be available.

'Hilltops will be the first luxury development in Singapore to have a resort-style steam spa room in every apartment,' Mr Cheong said.

'The spa experience has become a regular part of the lifestyle of our high-end buyers. We, therefore, wanted to offer this luxurious indulgence as a standard feature at Hilltops to complement the overall resort atmosphere and provide the complete luxury experience for our buyers.'

Meanwhile, property firm Jones Lang LaSalle said yesterday that Char Yong Gardens, a freehold residential project on Hullet Road off Orchard Road, is up for collective sale.

Jones Lang LaSalle reckons that the site could fetch 10 to 20 per cent more than the price fetched by the recent sale of The Parisian at Angullia Park, which earlier this year notched a record $1,735 per sq ft per plot ratio (psf ppr), inclusive of a development charge (DC).

This works out to an estimated $1,900-2,100 psf ppr for Char Yong Gardens.

The 93,300 sq ft site has a gross plot ratio of 2.8 - giving it a gross floor area of 261,000 sq ft. The maximum building height is 20 storeys.

This could yield around 175 apartment units with an average size of 1,500 sq ft each, Jones Lang LaSalle estimates. The site comes with an estimated DC of $48 million.

'With strong market interest for high-end units and potential launch price of $2,500 to $3,000 psf onwards for new launches in recent months, the end product at Char Yong Gardens could potentially fetch more than $3,000 psf,' said Lui Seng Fatt, the regional director and head of investments at Jones Lang LaSalle.