Tuan Sing Holdings sees encouraging take-up for Cluny Park Residence

[princess_morbucks]

http://www.channelnewsasia.com/news/...medium=twitter

SINGAPORE: Property developer Tuan Sing Holdings said it is seeing encouraging take-up from buyers for its Cluny Park Residence project.
The high-end condominium was launched on Thursday.
Located in the Bukit Timah district, the freehold development spreads across close to 49,000 square feet.
Cluny Park Residence has 52 units and each unit has been priced from about S$2.3 million.
So far, about 20 units have been sold.
The project is expected to receive its Temporary Occupation Permit in the third quarter of 2016.

Tuan Sing's earlier residential projects include Botanika, Adam Park Condominium and Leedon Park Development.


- CNA/gn

[Ringo33]

CLOSE to 40 per cent of the 52 units at upmarket freehold condominium Cluny Park Residence have received purchase commitments ahead of its official launch tomorrow.
These commitments - by mainly professionals and businessmen - were made at private previews since its soft launch last August. Of the buyers, 70 per cent are Singaporeans, William Liem, chief executive officer of the developer Tuan Sing Holdings, told reporters at a media preview yesterday.
The strong interest comes amid an uncertain residential property market still reeling from cooling measures implemented last year.
Mr Liem attributed this to the development's excellent location and long-term investment potential, thanks to its freehold status at a prime location.
The District 10 condominium, nestled in an enclave of good class bungalows in Bukit Timah, overlooks the Singapore Botanic Gardens and is next to the French Embassy.
Incidentally, this brought about several development and design constraints as the embassy was "very strict" about the facing of its units.
As a result, a "really painful" compromise was made to do away with balconies for certain units overlooking the embassy, Mr Liem said.
Cluny Park Residence is also within close proximity to popular schools such as Nanyang Primary School, Raffles Girls' Primary School, Singapore Chinese Girls' School and Hwa Chong Institution.
The development sits on a 49,000 square foot plot of freehold land and houses two to four-bedroom units, including eight penthouses.
Each unit comes with a private entrance foyer, and every ground floor unit also has a private pool.
Units are priced from $2.3 million for an 800 sq ft two-bedder to $4.5 million for a 1,400 sq ft four-bedder. Penthouse units come in compact (about 1,200 sq ft) and large (about 2,800 sq ft) sizes, costing about $5 million and $8 million, respectively.
All these work out to a price range of about $2,860 to $4,170 per square foot.
Mr Liem, who lives in a ground floor unit of Botanika, a Holland Road condominium also developed by Tuan Sing, revealed that he has also bought "one of the bigger" units at Cluny Park Residence.
"I like to stay at our own condos to experience and see what we can do to improve. Certainly, I will stay here (at Cluny Park Residence) when it is completed.
Chief financial officer Chong Chou Yuen said: "We want to sell and design our property to the extent that we ourselves feel comfortable (in them). We will not sell a property that is not comfortable, too restrictive or too cramped."
The project is expected to receive its temporary occupation permit in the third quarter of 2016.
Its showflat at Dempsey Road will be open from Saturday between 10am and 7pm daily.

[hopeful]

......
The District 10 condominium, nestled in an enclave of good class bungalows in Bukit Timah, overlooks the Singapore Botanic Gardens and is next to the French Embassy.
Incidentally, this brought about several development and design constraints as the embassy was "very strict" about the facing of its units.
As a result, a "really painful" compromise was made to do away with balconies for certain units overlooking the embassy, Mr Liem said.
......

no more seeing french ladies sunbathing in the nude at the embassy.

eye opener, can every embassy do that? or is it only the french.
before i thought only istana, command centre, mindef has these kind of restrictions.

any embassies near d'leedon?

[Amber Woods]

20 out of 53 units have been sold since August 2013. I think it is bad. Developer has to restore to free "fabricated" publicity. Expect more developers to shout even louder when they manage to get some sales.

[amk]

The 2bd in this project carries a maintenance fee of >$1000

actually, 20 sold, I'm really impressed. I thought was < 5.

[bargain hunter]

i thot d'leedon is just nearby? also can see french embassy?

no more seeing french ladies sunbathing in the nude at the embassy.

eye opener, can every embassy do that? or is it only the french.
before i thought only istana, command centre, mindef has these kind of restrictions.

any embassies near d'leedon?

[sherlock]

The 2bd in this project carries a maintenance fee of >$1000

actually, 20 sold, I'm really impressed. I thought was < 5.

So high maintenance? 12k per year? maintain simi?

[CCR]

20 out of 53 units have been sold since August 2013. I think it is bad. Developer has to restore to free "fabricated" publicity. Expect more developers to shout even louder when they manage to get some sales.

I would think for 2800= psf to 4000+psf, this is very good business for Tuan Sing. They ought to be proud of themselves.... how many condos can sell at these prices since 2013?

[hopeful]

http://www.channelnewsasia.com/news/...medium=twitter
.....
So far, about 20 units have been sold.
.....
- CNA/gn

CLOSE to 40 per cent of the 52 units at upmarket freehold condominium Cluny Park Residence have received purchase commitments ahead of its official launch tomorrow......

what is the difference between purchase commitments and sold?

why this William Liem use the phrase "purchase commitments" instead of sold?

quick check with squarefoot only indicates 10 caveats lodged.

actually what is purchase commitments?
cheque submission?
OTP issued?

[amk]

i thot d'leedon is just nearby? also can see french embassy?

Aiyoh very very far lah !

The one really with a good view is serene center tenants

The nearest high rise is that run down Lutheran tower opposite side of rd. Next door FEO's site is only 5 floors so cannot see through.

[amk]

So high maintenance? 12k per year? maintain simi?

Private lift for each stack. Swimming pool on roof. That's abt it.

[Ringo33]

Private lift for each stack. Swimming pool on roof. That's abt it.

with just 52 units, at $1K per unit, monthly is only $60k.

Utilities, pool, landscaping, security, management fee, wear and tear, sinking fund etc.

[reporter2]

http://www.businesstimes.com.sg/arch...dence-20140307

Published March 07, 2014

Buy pledges bagged for 40% of Cluny Park Residence

Developer Tuan Sing attributes interest to project's location, investment potential

By lee meixian [email protected]


Deluxe feature: Each ground floor unit of Cluny Park Residence comes with a private pool

CLOSE to 40 per cent of the 52 units at upmarket freehold condominium Cluny Park Residence have received purchase commitments ahead of its official launch tomorrow.

These commitments - by mainly professionals and businessmen - were made at private previews since its soft launch last August. Of the buyers, 70 per cent are Singaporeans, William Liem, chief executive officer of the developer Tuan Sing Holdings, told reporters at a media preview yesterday.

The strong interest comes amid an uncertain residential property market still reeling from cooling measures implemented last year.

Mr Liem attributed this to the development's excellent location and long-term investment potential, thanks to its freehold status at a prime location.

The District 10 condominium, nestled in an enclave of good class bungalows in Bukit Timah, overlooks the Singapore Botanic Gardens and is next to the French Embassy.

Incidentally, this brought about several development and design constraints as the embassy was "very strict" about the facing of its units.

As a result, a "really painful" compromise was made to do away with balconies for certain units overlooking the embassy, Mr Liem said.

Cluny Park Residence is also within close proximity to popular schools such as Nanyang Primary School, Raffles Girls' Primary School, Singapore Chinese Girls' School and Hwa Chong Institution.

The development sits on a 49,000 square foot plot of freehold land and houses two to four-bedroom units, including eight penthouses.

Each unit comes with a private entrance foyer, and every ground floor unit also has a private pool.

Units are priced from $2.3 million for an 800 sq ft two-bedder to $4.5 million for a 1,400 sq ft four-bedder. Penthouse units come in compact (about 1,200 sq ft) and large (about 2,800 sq ft) sizes, costing about $5 million and $8 million, respectively.

All these work out to a price range of about $2,860 to $4,170 per square foot.

Mr Liem, who lives in a ground floor unit of Botanika, a Holland Road condominium also developed by Tuan Sing, revealed that he has also bought "one of the bigger" units at Cluny Park Residence.

"I like to stay at our own condos to experience and see what we can do to improve. Certainly, I will stay here (at Cluny Park Residence) when it is completed.

Chief financial officer Chong Chou Yuen said: "We want to sell and design our property to the extent that we ourselves feel comfortable (in them). We will not sell a property that is not comfortable, too restrictive or too cramped."

The project is expected to receive its temporary occupation permit in the third quarter of 2016.

Its showflat at Dempsey Road will be open from Saturday between 10am and 7pm daily.

[hopeful]

http://www.businesstimes.com.sg/arch...dence-20140307

Buy pledges bagged for 40% of Cluny Park Residence
......

As a result, a "really painful" compromise was made to do away with balconies for certain units overlooking the embassy, Mr Liem said.

.......

finally, the phrase "40% sold" is not used.
i think purchase commitment is just verbal agreement, just a pledge. no legal standing for developer to sue if "buyers" backed out.
developer must be desperate for hype.

1 more thing.
base on URA data, 15 already sold by developer.

what figures will we see in 2-3 months time?
so 15 (already sold) + 5 = 20 equates to 40% purchase commitment?
or 15 (already sold) + 20 (40% purchase commitment) = 35 units sold by developer?

if only 20 sold, then 40% purchase commitment is misleading, when it should be 10% purchase commitment (5 out of 52), since 15 is already considered as sold.

which units dont have balcony? i see the floorplan all units have balconies except for the ground floor level. or is the ceo referring to the 2-storey PH and in which the attic level has no balconies?
and why is the balcony slanted?

[bargain hunter]

should be 15 sold and 5 "pledged to buy"

finally, the phrase "40% sold" is not used.
i think purchase commitment is just verbal agreement, just a pledge. no legal standing for developer to sue if "buyers" backed out.
developer must be desperate for hype.

1 more thing.
base on URA data, 15 already sold by developer.

what figures will we see in 2-3 months time?
so 15 (already sold) + 5 = 20 equates to 40% purchase commitment?
or 15 (already sold) + 20 (40% purchase commitment) = 35 units sold by developer?

if only 20 sold, then 40% purchase commitment is misleading, when it should be 10% purchase commitment (5 out of 52), since 15 is already considered as sold.

which units dont have balcony? i see the floorplan all units have balconies except for the ground floor level. or is the ceo referring to the 2-storey PH and in which the attic level has no balconies?
and why is the balcony slanted?

[hopeful]

....
CLOSE to 40 per cent of the 52 units at upmarket freehold condominium Cluny Park Residence have received purchase commitments ahead of its official launch tomorrow.

whatever happened to the 40% purchase commitments?

checked with the Prices of Private Residential Units Sold By Developers, only 1 sold by developer in March.

the purchase commitments didnt include the time and price i think.
i also make a purchase commitment in cluny park residence when price drop to $1000psf.

sorry, cant help laughing at the ceo for using the phrase "purchase commitments".