http://www.businesstimes.com.sg/arch...-sold-20140421

Published April 21, 2014

Three-quarters of units at The Sorrento sold

By Nisha Ramchandani

[email protected] @Nisha_BT


[SINGAPORE] About 100 of the 131 units in upcoming freehold condominium The Sorrento on West Coast Road, which was launched for sale last Friday, were snapped up over the Easter weekend.

Initially, 80 units were launched but eventually all 131 units in the Allgreen Properties development were released due to strong demand.

"The project was competitively priced, so we expected to have a fairly decent pick-up (rate)," said Joseph Tan, executive director (residential) of sole marketing agent CBRE, yesterday. The pricing was between $1,380 and $1,600 per square foot (psf).

The freehold status as well as the smaller scale of the development - which offers a degree of exclusivity vis-a-vis condominiums with hundreds of units - also proved a draw for buyers, added Mr Tan. Smaller units were popular with younger buyers while families opted for bigger ones.

The five-storey development - offering one- to three-bedroom units ranging from 441 to 1,808 sq ft - is situated on a site of about 78,100 sq ft. The units yet to be sold are said to be largely penthouses.

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

The Sorrento is expected to obtain its temporary occupation permit (TOP) in the first quarter of next year.