Coastline Residences to launch this weekend at S$2,450 psf

It is among a slew of developments coming up in the Amber area in the East Coast

Fri, Apr 26, 2019


EAST Coast is heating up with launches galore, with possible major launches this year yielding at least 1,500 units, going by Knight Frank's estimates in March.

The next one up is Coastline Residences on Amber Road, which will be launched for sale this weekend at an average of around S$2,450 per square foot (psf).

Three-quarters of the units in the freehold, 144-unit condo will have sea views, the boss of Sustained Land Douglas Ong told The Business Times.

According to SRX Property, unit sizes range from one-bedders at 452 sq ft and up, to three-bedders at 1,109 sq ft and up. There will be one penthouse.

Huttons and PropNex are marketing the project.

A Sustained Land-led consortium had bought the site - the former Parkway Mansion - in December 2017 for S$146.99 million, or S$1,536 psf per plot ratio (ppr), including development charges.

Coastline Residences is launching ahead of the neighbouring freehold Amber Park at Amber Gardens by City Developments Limited (CDL) and joint venture partner Hong Realty.

That project is starting previews this weekend. Details of Amber Park's average psf will be revealed at its launch, expected in May 2019, CDL told BT.

Amber Park is a freehold, 592-unit condominium with unit sizes ranging from 463 sq ft to 5,005 sq ft; unit prices start from slightly over S$1 million. (see amendment note)

The site measures 213,000 sq ft, and its three residential towers take up 35 per cent of the area, with the remainder used for landscaping and facilities (including a rooftop jogging track). It is expected to be completed in 2023.

Mr Ong's Sustained Land launched its condo One Meyer nearby last month, on the site The Albracca used to occupy. To date, 12 units at One Meyer have been sold, at S$2,627 psf on average, he said.

Sustained Land had bought the site for S$69.1 million; the sum works out to about S$1,409 psf ppr, inclusive of development charges.

Nyon, also launched in March, sold four out of 92 units that month, at a median S$2,434 psf, going by government statistics.

Other upcoming launches nearby include UOL and Kheng Leong's MeyerHouse (the former Nanak Mansions) on Meyer Road, Bukit Sembawang Estates' former Katong Park Towers site, and GuocoLand's former Casa Meyfort on Meyer Road.

Far East Organisation may also launch Amber Sea, the former Amber Glades which it bought en bloc in 2011, in the third quarter.

Separately, SingHaiyi Group said on Thursday that it will launch The Gazania and The Lilium in Bartley on May 1.

Amendment note: An earlier version of this article incorrectly stated that prices for Amber Park start at S$1 million when in fact it starts from slightly over S$1 million. The article has been revised to reflect this.