Looks like a pretty interesting project ... drove passed by parago last night and saw the link bridge ...
What do you guys think of 1 bedder for investment purpose?
Not worth the investment IMO since prices of the balance units are close to 1.6mil and not forgetting ~550/mth condo maintenance fee
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would u care to clarify on the status after the few of us had been discussing BT's report that the units are not sold?
those < 1.6m units, are they sold or not sold? why does capitaland say this is just a preview and only on 12th Mar will sales start? can potential buyers like bro kellogs still throw in a cheque to try to ballot for the 1.4m units or are these already chop, confirm, stamp sold?
from what i read, TOP estimated end 2016. From googleearth, looks like ceiling of units, frames are completed.
If don't borrow, need to cough up cash 55% + ABSD 15% within a short period of time. and then additional 30% in a few months time. Can be quite stressful.
It is not like one can stretch the progressive payment over 3-4 years when you buy off plan.
I am not sure whether the potential buyers know what they are in for.
Probably they think have 2 or more years to cover the progressive payment. I do wonder whether agents tell them that estimated TOP at end 2016 instead of September 2017 (as per brochure).
This is where we separate the wheat from the chaff. The truly rich to those merely rich (those depending on progressive payment).
isn't it better that it TOP earlier so can put it into rental market?
went to showflat at indus road...seems like quite a few units really sold. lower floor 2+G going for 2700psf...do you guys thinks its a good buy?
1 Bedroom
#15-03: $1,493,000 (2522psf)
#19-10: $$1,498,000 (2485psf)
1 + Guest
#14-04: $1,736,000 (2337psf)
#22-07: $2,010,000 (2706psf)
#24-04: $1,936,000 (2607psf)
2 Bedroom
#08-02: $2,740,000 (2624psf)
#11-11: $2,718,000 (2630psf)
2 + Guest
#11-01: $2,619,000 (2535psf)
#11-12: $2,489,000 (2409psf)
4 Bedroom
#10-08: $3,717,000 (2432psf)
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Prices look reaosnable.
Am not sure, need to check with your friendly Cairnhill 9 agent
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99 caveats already lodged for cairnhill nine, capitaland still say not selling until tomorrow, 12 mar?
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,336,000 - 603 Strata 06 to 10 2,216 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,350,000 - 603 Strata 06 to 10 2,240 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,378,000 - 603 Strata 06 to 10 2,286 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,404,000 - 603 Strata 11 to 15 2,329 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,408,000 - 592 Strata 06 to 10 2,378 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,418,000 - 603 Strata 11 to 15 2,352 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,431,000 - 603 Strata 11 to 15 2,374 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,445,000 - 603 Strata 11 to 15 2,397 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,461,000 - 657 Strata 06 to 10 2,225 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,464,000 - 592 Strata 11 to 15 2,473 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,475,000 - 657 Strata 06 to 10 2,246 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,507,000 - 592 Strata 16 to 20 2,546 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,512,000 - 603 Strata 16 to 20 2,508 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,519,000 - 775 Strata 06 to 10 1,960 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,525,000 - 603 Strata 21 to 25 2,530 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,539,000 - 603 Strata 21 to 25 2,553 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,544,000 - 646 Strata 11 to 15 2,391 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,547,000 - 657 Strata 16 to 20 2,356 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,569,000 - 786 Strata 06 to 10 1,997 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,579,000 - 603 Strata 21 to 25 2,620 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,604,000 - 732 Strata 06 to 10 2,191 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,618,000 - 732 Strata 06 to 10 2,211 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,627,000 - 732 Strata 11 to 15 2,223 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,631,000 - 732 Strata 06 to 10 2,228 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,655,001 - 657 Strata 26 to 30 2,521 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,658,000 - 732 Strata 11 to 15 2,265 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,671,000 - 743 Strata 06 to 10 2,250 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,672,000 - 732 Strata 11 to 15 2,284 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,677,000 - 743 Strata 11 to 15 2,258 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,686,000 - 743 Strata 06 to 10 2,270 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,699,000 - 732 Strata 11 to 15 2,321 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,706,000 - 969 Strata 06 to 10 1,761 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,709,000 - 743 Strata 11 to 15 2,301 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,713,000 - 743 Strata 11 to 15 2,306 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,722,000 - 743 Strata 11 to 15 2,319 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,723,000 - 743 Strata 11 to 15 2,320 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,735,000 - 775 Strata 11 to 15 2,239 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,736,000 - 743 Strata 11 to 15 2,337 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,750,000 - 743 Strata 11 to 15 2,356 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,753,000 - 732 Strata 16 to 20 2,395 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,755,000 - 743 Strata 11 to 15 2,363 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,755,000 - 743 Strata 06 to 10 2,363 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,760,000 - 969 Strata 06 to 10 1,817 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,764,000 - 743 Strata 16 to 20 2,375 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,766,000 - 732 Strata 16 to 20 2,413 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,770,000 - 743 Strata 11 to 15 2,383 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,777,000 - 743 Strata 16 to 20 2,393 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,779,000 - 732 Strata 21 to 25 2,430 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,783,000 - 743 Strata 16 to 20 2,401 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,785,000 - 743 Strata 11 to 15 2,403 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,797,000 - 743 Strata 16 to 20 2,419 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,799,000 - 743 Strata 11 to 15 2,422 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,806,000 - 732 Strata 21 to 25 2,467 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,813,000 - 743 Strata 11 to 15 2,441 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,819,000 - 732 Strata 21 to 25 2,485 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,822,000 - 904 Strata 06 to 10 2,015 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,828,000 - 743 Strata 11 to 15 2,461 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,834,000 - 732 Strata 21 to 25 2,506 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,842,000 - 775 Strata 21 to 25 2,377 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,847,000 - 732 Strata 26 to 30 2,523 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,856,000 - 743 Strata 16 to 20 2,499 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,865,000 - 743 Strata 16 to 20 2,511 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,874,000 - 743 Strata 21 to 25 2,523 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,879,000 - 743 Strata 16 to 20 2,530 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,888,000 - 743 Strata 21 to 25 2,542 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,890,000 - 775 Strata 16 to 20 2,439 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,911,000 - 775 Strata 16 to 20 2,466 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,922,000 - 743 Strata 21 to 25 2,588 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,940,000 - 743 Strata 16 to 20 2,612 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,945,000 - 743 Strata 16 to 20 2,619 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,954,000 - 743 Strata 21 to 25 2,631 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,980,000 - 743 Strata 16 to 20 2,666 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,984,000 - 743 Strata 21 to 25 2,671 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,995,000 - 743 Strata 21 to 25 2,686 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,998,000 - 753 Strata 06 to 10 2,652 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 1,998,000 - 743 Strata 21 to 25 2,690 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,047,000 - 775 Strata 26 to 30 2,641 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,085,000 - 743 Strata 26 to 30 2,807 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,546,000 - 1,033 Strata 11 to 15 2,464 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,548,000 - 1,044 Strata 06 to 10 2,440 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,589,000 - 1,044 Strata 06 to 10 2,480 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,666,000 - 1,044 Strata 11 to 15 2,553 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,703,000 - 1,033 Strata 06 to 10 2,616 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,754,000 - 1,033 Strata 11 to 15 2,665 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,804,000 - 1,044 Strata 11 to 15 2,686 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,852,000 - 1,044 Strata 11 to 15 2,732 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 2,911,000 - 1,324 Strata 06 to 10 2,199 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,684,000 - 1,528 Strata 06 to 10 2,410 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,815,000 - 1,528 Strata 16 to 20 2,496 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,879,000 - 1,528 Strata 16 to 20 2,538 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,895,000 - 1,528 Strata 21 to 25 2,548 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,928,000 - 1,528 Strata 21 to 25 2,570 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,936,000 - 2,013 Strata 06 to 10 1,955 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,960,000 - 1,528 Strata 21 to 25 2,591 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 3,976,000 - 1,528 Strata 26 to 30 2,601 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 4,016,000 - 1,604 Strata 21 to 25 2,504 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 5,890,000 - 3,014 Strata 26 to 30 1,954 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 6,130,000 - 3,186 Strata 26 to 30 1,924 Mar-16
CAIRNHILL NINE CAIRNHILL ROAD Apartment 09 CCR 99 years leasehold New Sale 1 6,150,000 - 3,261 Strata 26 to 30 1,886 Mar-16
bro propertycarrots can help to furnish the unit numbers later.
interestingly, already 9 caveats for 4 bedders spotted out of the 22 avail. and 3 caveats for penthouses out of the 8 avail.
if you look at the note 4 at the bottom of the page, after it display the search results:
https://www.ura.gov.sg/realEstateIIW...tSearch.action
"New sale transactions starting from 25 May 2015 onwards are based on options issued by developers. Hence, "Date of Sale" refers to "Date of Option Issued".
For resale and subsale transactions and new sale transactions prior to 25 May 2015, "Date of Sale" refers to "Date of Option Exercised/Sales Agreement Signed" as indicated in the caveats lodged."
and from URA website also:
"For subsale and resale transactions, information is updated on every Tuesday and Friday. For new sale transactions, information is updated on every Friday. If the scheduled update falls on a public holiday, it will be updated on the following working day."
The last friday 4 March, no caveats lodged, so before that, can we assume that no OTP was exercised.
This Friday 11 March, quite a number of caveats lodged, all showing the date of sale is in March, which means no OTP was issued in February.
It is kinda of interesting that all the OTP is in March instead of February, given that "CapitaLand staff had visited Jakarta over the Feb 20-21 weekend to market the project to Indonesian clients, and returned reporting good interest." So from 20-29 February, not one OTP is issued.
Just an observation.
anybody remembered this?
http://www.propertyguru.com.sg/prope...-to-sell-units
perhaps developer approved to sell only from March, hence all OTP in march
Last edited by hopeful; 11-03-16 at 16:19.
Bargin Hunter, you are very diligent Caveats updated today already checked it out.
Anw, the caveats database has been updated and have a nice weekend!
Last edited by propertycarrots; 11-03-16 at 16:49.
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Seems that only 3 uits are <1.4mil
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unless i am on holiday, my hobby is to check caveats "as live as it gets" on tuesdays and fridays.
i used to be the one who emails squarefoot when i was a subscriber to ask them to quickly update when URA's was already updated and theirs was not.
good that you have set up something to rival them. however, i noticed that your updates are manual? some caveats are missing or not up to date?
for e.g. St Thomas Suites I couldn't see the latest caveat in Dec on your website. For Residences @ Evelyn, I couldn't even find the entire project.
just some feedback, hope you are not offended.
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First weekend report card out, 50% of total units sold. Half of which bought by Singaporeans:
http://www.businesstimes.com.sg/real...e-weekend-sold
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134-99 (caveats reported on friday) = 35 OTP issued the weekend ?
regarding the VIP preview on 2nd March, when about 99 OTP were issued, looks like forummers here are unaware of it, (or those aware of it kept quiet).
"It's a big club, and you ain't in it."
10 march = 99 caveats
17 march = ??
Cairnhill Place carpark closing on Oct 28 for revamp
Source: http://transport.asiaone.com/news/ge...-oct-28-revamp
SINGAPORE - Drivers will have one less place to park in Orchard when the eight-storey Cairnhill Place carpark closes on Oct 28.
The facility, which has 820 carpark spaces, is part of a property - Cairnhill Place - that, until last week, also housed the Somerset Grand Cairnhill serviced apartments.
The property's new owner, real estate giant CapitaLand, told The Straits Times that the 23-year-old carpark will make way for a new one, as part of plans to redevelop the site. But Al-Falah Mosque, on the first floor of Cairnhill Place, will stay open. In July, CapitaLand said it had paid $359 million to buy the property from its subsidiary Ascott Residence Trust.
The redevelopment blueprint includes plans for a condominium and a serviced apartment business that will also have a hotel licence to serve both short- and long-term guests.
The new carpark, with 345 spaces for cars and 120 for motorcycles for public use, is expected to be completed in 2016. The Cairnhill Place carpark was one of the cheapest downtown carparks until a sudden hike in rates in 2008.
Now, the rates, at $3 for the first hour during weekdays before 5pm, are comparable to those levied in nearby carparks in Paragon, Mandarin Gallery and Comcentre.
"I think the Cairnhill carpark is the best carpark in the area. Drivers don't get caught in the peak hour traffic jam because it's near the CTE (Central Expressway)," said Ms Nancy Lim, owner of Spa Valley, a tenant in Cairnhill Place. "The carpark spaces are also wider and that's good for woman drivers like me."
A spokesman for the Islamic Religious Council of Singapore said the Al-Falah mosque's management is working closely with the developer to minimise inconvenience to its operations and will keep its congregation updated.
The mosque, built in 1987, traces its roots to Angullia Mosque in Angullia Park, which closed after the site was converted to retail office complex Wheelock Place.
Muslim devotees are relieved that the mosque, the only one in Orchard Road, will be spared from the revamp.
Yee ha! Did I tickle your funny bone?
CapitaLand set to redevelop serviced residence
Source: http://www.stproperty.sg/articles-pr...idence/a/73202
PROPERTY giant CapitaLand is buying serviced residence Somerset Grand Cairnhill Singapore from its own unit for $359 million to redevelop the property.
The site, near Orchard Road, will be redeveloped into CapitaLand's first-ever integrated development containing a serviced residence and condominium.
CapitaLand announced yesterday it is buying the property from its unit, Ascott Residence Trust.
The redevelopment project is expected to obtain its Temporary Occupational Permit in 2016.
The 30-storey condo development will boast about 200 to 250 residential units and they will be sold to the public.
By around 2017, the 20-storey serviced residence tower with 371 units will be sold back to Ascott Residence Trust for $405 million. It will have a hotel licence so it can take in both short-term and long-term guests.
The property is in Cairnhill Road, just off Orchard Road. The Al-Falah Mosque on the site will be retained and will continue operating during construction work.
'As an integrated development with a serviced residence component, there will certainly be opportunities to explore and create synergies between the two to bring value to our homebuyers in the form of new amenities and services,' said Mr Wong Heang Fine, chief executive of CapitaLand Residential which will undertake the redevelopment with The Ascott.
Both these companies are wholly-owned units of CapitaLand, which also holds 49 per cent of Ascott Residence Trust, a listed real estate investment trust.
CapitaLand and Ascott Residence Trust announced the deal before markets opened and then held a briefing on the project.
Based on approvals from the Urban Redevelopment Authority, the project has an allowable gross floor area of 466,429 sq ft, comprising 40 per cent for the serviced apartments and 60 per cent for residential use.
CapitaLand will need to pay $160 million to $180 million for a fresh 99-year lease and for intensifying the land use. Including the $359 million paid to Ascott Residence Trust, total land cost will be $1,100 to $1,200 per sq ft (psf).
The redevelopment cost, including both the serviced residence tower and the condominium, will be from $900 million to $1 billion, said CapitaLand's chief operating officer Lim Ming Yan.
Savills Singapore research head Alan Cheong told The Straits Times that condominium developments in the Cairnhill Road area can, on average, sell for between $2,500 psf and $3,500 psf.
'Cairnhill is undergoing a transformation. It's upmarket, and it's going even more upmarket, and developers are aspiring to hit the Paterson Road-type pricing, where one unit went for $6,800 psf last year.'
But Mr Cheong cited a 'geographical risk', with some homebuyers turning their attention away from the Orchard Road area towards the Tanjong Pagar area.
For its part, Ascott Residence Trust, which operates serviced residences in Asia, Australia and Europe, will spend $220 million of the sales proceeds to buy Ascott Raffles Place and another $63.3 million to buy Ascott Guangzhou from CapitaLand.
This will ensure that its income and payouts to unitholders will not fall after selling off the Somerset Grand Cairnhill Singapore.
If the deal had been completed, last year's distribution per unit would have been 8.55 cents, up from 8.53 cents. Including the redeveloped Cairnhill serviced residences, it would have been 8.88 cents.
Closer to taking over the redeveloped serviced residences in 2017, Ascott Residence Trust will raise some more funds, through undertaking more debt and issuing perpetual securities.
The deals are subject to the approval of Ascott Residence Trust's unitholders.
Yesterday, CapitaLand lost nine cents or 3 per cent to $2.89 while Ascott Residence Trust was unchanged at $1.15.
Yee ha! Did I tickle your funny bone?
already 139 caveats lodged leh. capitaland very modest say sold 134 nia.
still cant understand how it can command 2300-2500 psf for LH, got mosque, surrounded on all sides, probably good for no car owners...
while there are FH nearby going at just above 2000 psf ...