CDL sells 38 Cliveden units at average price of $3,600 per square foot
Published July 7, 2007
CDL sells 38 Cliveden units at average price of $3,600 per square foot
By KALPANA RASHIWALA
CITY Developments Ltd (CDL) has sold 38 units at its Cliveden condo on the former Kim Lin Mansion site at Grange Road at an average price of $3,600 per square foot. About 90 per cent of buyers were foreigners. The highest price achieved was $4,162 psf for a four-bedroom apartment.
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The Cliveden: The 24-storey freehold development will have three single towers and a twin tower. Forty-four units from two towers have been released for sale and CDL is considering releasing some units from another tower
CDL said yesterday that it has released 44 units from two towers in the freehold development. The condo comprises 110 units in all - comprising three-bedders (2,153 sq ft), four-bedroom apartments (2,842 sq ft) and penthouses ranging from 4,392 sq ft to 6,028 sq ft.
The project was showcased during road shows in Hong Kong and Indonesia over the past two weekends. 'CDL has also started to present this well-appointed freehold residence to specially invited guests in Singapore,' the listed developer said yesterday. CDL said that it is considering releasing some units from another tower for sale. The 24-storey project will have three single towers and a twin tower.
CDL bought the Kim Lin Mansion site in late 1999, during the last bout of en bloc sale fever, for $996 psf per plot ratio, including development charges. However, the ensuing property slump led CDL to hold off redeveloping the site until now.
Last year, the listed property group controlled by Singapore's Kwek family bought the Lucky Tower site diagonally opposite the Kim Lin plot for $1,134 psf ppr.
On the stock market, CDL ended 10 cents lower at $16.80 yesterday.
Re: CDL sells 38 Cliveden units at average price of $3,600 per square foot
Re: CDL sells 38 Cliveden units at average price of $3,600 per square foot
July 7, 2007
CDL's Cliveden at Grange sold for $3,600 psf on average
By Joyce Teo, Property Reporter
THE demand for luxury apartments shows no signs of letting up, with City Developments (CDL) selling out one-third of Cliveden at Grange during the project's recent soft launch.
Average prices were $3,600 per sq ft (psf), with the highest price done at $4,162 psf for a four-bedroom apartment.
SC Global announced last week that it had achieved an average price of $4,137 psf for the 21 units it sold at its project The Marq.
One unit set a price record when it was sold for $5,100 psf.
Cliveden at Grange sits on the former Kim Lin Mansion site on Grange Road and has 110 units on about 138,400 sq ft of freehold land.
Since CDL started preview sales about two weeks ago in Hong Kong, Indonesia and Singapore, it has sold 38 out of the 44 units released.
About 90 per cent of the buyers were foreigners, CDL said.
An Indonesian businesswoman who was passing through Singapore arrived in a cab to view the project. She picked up an $8 million property.
And a Taiwanese businessman dropped by to check out the project on his way to Changi Airport, and bought a $10 million unit.
Cliveden at Grange has only one apartment on each floor in the four 24-storey towers, one of which is a twin tower.
The apartments with large balconies and floor-to-ceiling windows offer panoramic views of the surrounding area.
They range in size from 2,153 sq ft to 2,842 sq ft. The penthouses are between 4,392 sq ft and 6,028 sq ft.
CDL said viewing is by appointment only.
The next CDL development up for launch will be the 223-unit project called The Quayside Isle on Sentosa Cove.
