http://www.businesstimes.com.sg/arch...-sold-20140922

Published September 22, 2014

Over half of UOL's new freehold condo in East Coast sold

By cai haoxiang

[email protected] @HaoxiangCaiBT


SEVENTY St Patrick's, a 186-unit freehold condominium in East Coast by developer UOL Group, sold around 100 units when privately launched over the weekend.

Units were sold at an average price of S$1,630 per square foot (psf).

The smallest unit sold was a two-bedder for about S$1.2 million, while the largest was a penthouse that went for around S$2.4 million. Around 16 penthouses out of 36 available were sold.

Buyers were around 90 per cent Singaporean, with some buying the property for their children, The Business Times understands.

Unit sizes for the development range from 700 sq ft for a two-bedroom to 1,647 sq ft for a four-bedroom penthouse.

By comparison, nearby freehold apartment block St Patrick's Residences had three units exchange hands this year at an average price of S$1,226 psf. The units sold ranged from 1,206 sq ft to 2,519 sq ft, according to the Urban Redevelopment Authority's (URA) website.

At Seventy St Patrick's, amenities include a 50-metre pool, a meditation deck, wet and dry reflexology paths, and jacuzzis.

The development comprises nine blocks of five-storey buildings. It is being built on a site area of about 140,000 sq ft on St Patrick's Road. Estimated completion is end-2017.

The Thomson-East Coast Line, an MRT line to be completed in 2023, will also have a station nearby called Marine Terrace MRT.

UOL shares traded last Friday at S$6.45.