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Thread: 8 Saint Thomas

  1. #1
    Join Date
    Apr 2017

    Default 8 Saint Thomas

    The 8 Saint Thomas is a freehold advancement job of an apartment by Bukit Sembawang. 8 Saint Thomas Condo is one of the ideal condominiums in Singapore as it has actually freehold Tenure. Designers of 8 Saint Thomas Mohamed Sultan Road job are Bukit Sembawang Estates Limited, a subsidiary of Bukit Sembawang Estates was effective as well as won the tender for the freehold on St Thomas Walk 2 as well as 10.

    8 St Thomas Walk Orchard Road Freehold Condo, they are a popular business in the service of genuine estates as well as getting involved in huge tasks throughout Singapore. 8 St Thomas Walk is shut to Mohamed Sultan Road as well as Clarke Quay.

  2. #2
    Join Date
    Oct 2011

    Default Re: 8 Saint Thomas

    Bukit Sembawang's price cut at 8 St Thomas has some agents in a tizzy

    Tue, Jun 16, 2020

    Siow Li Sen

    AMID slow sales of new homes, an unlikely discounter has emerged, with price cuts of up S$500,000.

    Bukit Sembawang Estate, a developer of premium homes and controlled by the Lee clan of OCBC fame, has been promoting its discounts discreetly for 8 St Thomas, a freehold development with 250 units in District 9. The Lee family owns over 40 per cent of listed Bukit Sembawang.

    But agents advertised the discounts as "fire sales" despite attempts to rein in their exuberance. Twelve units were sold during the offer limited to June 6 and 7, including bulk purchases where more than two units were sold, said a Bukit Sembawang spokesman.

    The offer saw prices slashed by S$200,000 to S$500,000 or S$2,600 per sq ft (psf) to S$2,700 psf.

    "The discounts we have heard about were offered during a limited one-time period," said the spokesman.

    The company is positive on the long-term outlook of Singapore, the property sector, and its developments, he said. "Given that 8 St Thomas is a rare development in a premium district, the company has taken a measured and steadfast position with regards to sales efforts."

    Of the 10 transactions done earlier this year between January and March, two were sold below S$3,000 psf and seven were from S$3,001 psf to S$3,233 psf. The highest price achieved was for a 225 sq m unit on Level 35 for S$9 million or at S$3,716 psf.

    To date, 150 or 60 per cent of the units have been sold at an average price of S$3,100 psf. All one-bedroom units have been sold; and prices for remaining two- to four-bedroom units range from S$2.5 million to S$5.5 million.

    There was some confusion late last week among agents with some saying the discounts were no longer available, than later saying the developer was still willing to allow attractive negotiations, until a quota was hit.

    "Do not advertise the lowered prices, any offers, discounts or fire sale in your marketing," was one message seen by The Business Times.

    While some units were sold during the limited period, the remaining units at 8 St Thomas continue to be available, the spokesman said.

    A new deferred payment scheme for 8 St Thomas has been introduced to provide more flexibility to buyers.

    The developer is in no rush, however, to dispose of the remaining units. The development, built on two enbloc sites, has taken over a decade to bear fruit. The project received its temporary occupation permit in 2018.

    Bukit Sembawang had purchased the first site, the former Chez Bright Apartments for S$54 million, or $625 psf per plot ratio (ppr), in 2006.

    Then in February 2007, it bought the adjacent site - the former Airview Towers condo - for $202.17 million, or S$1,038 psf ppr.

    An objection from one owner at Airview Towers led to a delay in completing the sale in 2008, by which time the Global Financial Crisis had happened and ended the property boom.

    The current project, completed in 2018, was launched in August simultaneously in Hong Kong and Singapore.

    Based on media reports then, the average price achieved was S$3,191 psf, and set a new threshold for the area.

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