http://www.businesstimes.com.sg/arch...aunch-20140411

Published April 11, 2014

West Coast condo in Easter launch

By Lynette Khoo

[email protected] @LynetteKhooBT


lALLGREEN Properties is launching its freehold condominium project, The Sorrento (the former Regent Gardens), at West Coast Road during the Easter weekend of April 19 at an indicative pricing of between $1,380 and $1,600 per square foot.

This five-storey project sits on a site of about 78,100 square feet in a mature estate with 131 units ranging from 441 sq ft to 1,808 sq ft in one to three-bedroom configurations.

CBRE, the sole marketing agent for this project, said that the pricing is attractive compared to the developments in the vicinity.

Similar five-storey project launches in West Coast/Pasir Panjang last year, including the Icon@Pasir Panjang, Seasuites, Village@Pasir Panjang and Whitehaven, have seen average transacted prices of between $1,600 psf and $1,700 psf.

The project is already being constructed and is expected to obtain TOP (temporary occupation permit) in the first quarter of 2015, earlier than the original target of October 2015.

"With the close proximity to educational and business hubs, the pool of working population from the academics, Japanese community (Waseda Shibuya Senior High School) and expatriates from MNCs and large corporations located in One-north will form strong potential tenancy opportunities," said Joseph Tan, executive director for residential project marketing at CBRE.

"When the Pasir Panjang port's lease expires in 2027 and the port moves away, there will be new developments in the area we can look forward to."

One-north, a 200 hectare business hub developed by JTC, will have an estimated population size of 138,000. It will house major tenants, such as Neptune Orient Lines, Procter and Gamble, Singapore Exchange and Shell.

The off-site show flat is located along West Coast Link. Public preview began on April 4 and will continue until April 16 before the project is open for booking on April 19.

Two 99-year leasehold projects will be open for preview soon. Potential buyers will be able to preview Hong Leong's Commonwealth Towers in Commonwealth Avenue over the Easter weekend, and another 99-year leasehold project Waterfront@Faber by World Class Land after the Easter holiday.