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Thread: Parkview Eclat (D10, Freehold, Chyau Fu Group)

  1. #1
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    Default Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Singapore
    Published December 6, 2006

    Chyau Fwu to build luxury homes in Grange Road

    By UMA SHANKARI

    CHYAU Fwu Development, which is jointly headquartered in Hong Kong and Singapore, yesterday announced plans to enter the residential property market in Singapore with a new luxury development in Grange Road.

    Chyau Fwu will be building 'no more than 40' units on the 59,000 sq ft site it bought more than three months ago for about $135 million. The site has a plot ratio of 2.1, which brings the price to $1,100 per sq ft per plot ratio (psf ppr).

    The site, which is at present occupied by six bungalows, was acquired through private treaty, said Eddie Chow, a senior executive with the company.

    The number of units planned is small as the development will contain large luxury apartments ranging from 3,000 sq ft to a super-penthouse at 10,000 sq ft, he said. The project will be launched in the first quarter of 2007, and is expected to fetch prices of about $2,000 psf, market watchers said.

    Construction is expected to cost about $500-600 psf, bringing Chyau Fwu's break-even cost to $1,600-1,700 psf.

    'We believe that the Singapore market is ready for the kind of building we are planning, and, of course, this property will also have tremendous appeal to wealthy international property buyers,' Mr Chow said.

    'Chyau Fwu has been looking for an opportunity to enter the residential market for some time and we have now identified a location that provides us with a rare opportunity to develop a building with unobstructed views, unparallelled spaciousness, and a unique design.'

    Design will no doubt play a large part in the new project. Chyau Fwu is the company behind the iconic Art Deco development Parkview Square. For this latest project, the design will be unveiled in the new year, said Mr Chow.

    Renowned United States-based architect James Adams, who designed Parkview Square, has been commissioned to oversee the new development.

  2. #2
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    Default $3,000 psf price seen at Parkview Eclat

    Property
    Published February 13, 2007

    $3,000 psf price seen at Parkview Eclat

    By ARTHUR SIM


    CHYAU Fwu Group has unveiled plans for its upcoming super-luxury condominium on Grange Road, called Parkview Eclat, with prices expected to be around $3,000 per square foot (psf).



    Unit sizes at the upcoming Parkview Eclat (above) start at 3,000 sq ft with the penthouse topping 10,000 sq ft


    Construction costs will be $500-$600 psf for Chyau Fwu, which owns the Art Deco-inspired office building Parkview Square at Bugis. This is almost double the industry average construction costs of $300 psf.

    Eddie Chow, a senior executive at Chyau Fwu, said that none of the units has yet been sold, as a sales licence has not yet been received.

    Prices have not been confirmed either, but Mr Chow said that Chyau Fwu was comfortable with the projected $3,000 psf price for super-luxury condominiums, adding that the group 'is not in a hurry to sell'.

    The most expensive feature in each of the 35 'limited edition' units will be the private 3m by 8m pool on the balcony.

    Unit sizes start at 3,000 square feet with the penthouse topping 10,000 sq ft.

    As with Parkview Square, Parkview Eclat is designed by James Adams, best known for his designs for Forum Casino at Ceasars Palace, MGM Grand Casino in Detroit and Galaxy Casino and Resort in Macau. However, being a residential development, Parkview Eclat will be more subdued.

    Mr Adams said: 'Respect for subtlety is important.'

    On pricing, recent caveats lodged reveal that average prices for super-luxury developments are still below $3,000 psf. St Regis Residences did complete another sale at $3,050 psf in December 2006 but the average price for units in that month was $2,672 psf.

    Vincent Chong, director (residential) at Colliers International, said: 'With the latest launch of The Beaufort at Nassim already hitting $3,200 psf, we feel that it is possible for the good units in Parkview Eclat to achieve $3,000 psf.'

    Vivian Sze, assistant general manager of HKR International, developer of Beaufort at Nassim, says it has already sold 12 units and the average selling price is $2,600-$2,700 psf.

    Savills Singapore director of marketing and business development Ku Swee Yong believes Parkview Eclat may not achieve an average launch price of $3,000 psf, but reckons instead that the upcoming Orchard Turn could - because 'they already have enough people who want to buy'.

    Also on Orchard Turn, Tay Huey Ying, director (research and consultancy) at Colliers, said: 'If the project is launched while market optimism is still high and buying frenzy is still very much alive, the average launch price for Orchard Turn could possibly reach $3,000 psf and the penthouses or units on the high floors could even hit $3,500 psf and above.'

  3. #3
    ryan Guest

    Default HK-based developer aims for new price high

    13 February 07 The Straits Times

    by Joyce Teo, Property Correspondent

    HK-based developer aims for new price high




    AS PROPERTY developers continue to set new benchmarks in Singapore's red-hot luxury market, niche Hong Kong-based developer Chyau Fwu Group is looking to set another.

    It aims to sell the 10,000 sq ft double-storey penthouse at its luxury residential development Parkview Eclat in Grange Road for up to $4,000 per sq ft (psf).

    The penthouse will have an outdoor swimming pool, a spiral staircase as well as two garden terraces - on top of other luxury features and fittings.

    While prices have not been fixed, the group aims to sell the other 34 relatively large units for an average of $3,000 psf, said its senior executive, Mr Eddie Chow.

    Property consultants have projected that prices in Singapore's luxury homes market could reach or cross $4,000 psf, but only by the end of the decade.

    Chyau Fwu expects to launch this project in Indonesia in March, before taking it to Singapore and Hong Kong.

    Singapore's luxury property market only started to surge in the past six months, said Mr Chow, who added: 'There's still room to grow.'

    He said the company's optimism is driven by Singapore's strong economic growth, the influx of wealth and more foreign firms setting up base here.

    At Parkview Eclat, all units will have unobstructed views and access to a concierge service, he said. They will also have features such as an emergency button that alerts the security downstairs.

    'These would be the details that the super rich look forward to,' said Mr Chow.

    The 21-storey freehold project has 32 three- to four-bedroom units ranging from 3,000 sq ft to 3,400 sq ft.

    Another two are duplex units at 5,300 sq ft.

    All 35 units feature an infinity edge spa pool in 3m by 8m balconies and a private elevator lobby.

    Mr Chow said the firm may spend between $500 psf and $600 psf on construction, including $8 million to $9 million for the building's stone cladding - unusual for a residential project here.

    The art deco building is designed by United States-based designer James Adams, who also created Parkview Square, an art deco office building in the Bugis area.

    Chyau Fwu has achieved rents of $8 psf for Parkview Square, up from $7 psf at the end of last year.

  4. #4
    Unregistered Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Location: Grange Road (D 9)
    Tenure: Freehold
    Estimated TOP: 2Q 2009
    Land Size: 58461sqft
    Total Units: 25
    Unit Types: 3-5 BR (3000-5000sqft)
    Price: expected average $3200psf
    Remarks: Private pool, private lift, high-end finishes

  5. #5
    beavis Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Saw local newspaper, parkview eclat made a private launch Today. Agent used is CBRE

    Just release the web at : http://www.parkvieweclat.com

    Still dont know the sale price.

  6. #6
    Unregistered Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    They are very big units, aren't they?

  7. #7
    beavis Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    I think the showflat is available rightnow. I even heard from someone describing it as the Best he ever saw.

    Anybody here has seen the Showunit??

  8. #8
    Unregistered Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Heard they are very selective about the people they let it.

  9. #9
    beavis Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Quote Originally Posted by Unregistered
    Heard they are very selective about the people they let it.
    Wew!! Thats why some people say developers treat foreign investors better than Local investors.

    I want to see the showflat but afraid they will reject our visit.
    I did saw an agent reject an old man visitor before. She just said "Sorry by appointment only" and then just shut the showflat door. Sad to see that. Who knows if that old man is a tycoon. Then she just missed a potential block buyer.

  10. #10
    Unregistered Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    The old man was driving a Toyota Vios and in slippers. I know it is bad but we live in a society where image counts. If he had had gone in a Lambo he would have been let in wearing shorts

  11. #11
    Unregistered Guest

    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    Quote Originally Posted by Unregistered
    The old man was driving a Toyota Vios and in slippers. I know it is bad but we live in a society where image counts. If he had had gone in a Lambo he would have been let in wearing shorts

    Sad but true.

  12. #12
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    Default Re: Parkview Eclat (D10, Freehold, Chyau Fu Group)

    May 22, 2007

    Grange Rd condo tops $4,000 psf benchmark

    By Fiona Chan


    A SMALL condominium on Grange Road has broken the $4,000 per sq ft (psf) price barrier at one of its units.

    This makes Parkview Eclat only the second development in Singapore to reach these heights, after CapitaLand's high-profile Orchard Residences at Orchard Turn.

    The remaining units that have been sold so far fetched lower prices, bringing the 35-unit project's average price to date to about $3,000 psf.

    Developer Chyau Fwu Group sold one four-bedroom apartment over the weekend for 'almost $4,200 psf', it said yesterday.

    The 16th-floor unit has an area of about 3,300 sq ft, taking the total price close to $13 million, Chyau Fwu senior executive Eddie Chow told The Straits Times.

    Asking prices have risen by about 20 per cent since Parkview Eclat was first marketed six weeks ago - 'in line with the market', said Mr Chow.

    Eighty to 90 per cent of buyers so far are foreigners, living either overseas or in Singapore. Among them are buyers from Indonesia, Hong Kong and Japan.

    At least one buyer has purchased more than one unit, added Mr Chow.

    Chyau Fwu is holding back the 10,000 sq ft super penthouse - and hopes to auction it off later at 'more than $5,000 psf', he said.

    Another two duplex units, at 5,000 sq ft each, have price tags of nearly $5,000 psf.

    Meanwhile, another luxury development in Leonie Hill Road is going down the auction route next month.

    Three of the units on the top floors of Leonie Parc View will go under the hammer on June 8, developer Soilbuild Group Holdings said yesterday.

    One is a 6,975 sq ft 'sky villa', while the other two are penthouses, of 2,906 sq ft and 3,003 sq ft.

    The auction will be conducted by Colliers International and Christie's Great Estates exclusive affiliate Ken Jacobs, which in April successfully auctioned off 12 units of Botanika on Holland Road.

    Colliers said yesterday that it expects the Leonie Parc View units to fetch between $3,200 psf and $3,600 psf, which will be a record for the Leonie Hill area.

    So far, 18 of the condominium's 44 units have been sold at prices ranging from $2,600 psf to $3,000 psf, Soilbuild said.

    Leonie Parc View will be the second uncompleted condominium to have units sold at an international auction, after Botanika.

    Another developer, SC Global, has also said it will sell its last BLVD penthouse via auction at a later date.

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    Unit at Parkview Éclat fetches $3,469 psf
    The Edge Singapore
    Monday, 21 March 2011

    Parkview Éclat, the 35-unit boutique condominium development along Grange Road, saw 2 units change hands in the resale market last month as owners cash out after the project was completed last year.

    The property is developed by Hong Kong headquartered property developer Chyau Fwu Group, renowned for its Parkview Square art deco office tower along North Bridge Road. Parkview Éclat also bears the flamboyant design style of Californian architect James Adams, who designed Parkview Square. Adams is most famous for his design of casino resorts such as the MGM Grand Casino in Detroit and Galaxy Casino and Resort in Macau.

    The 21-storey Parkview Éclat features spacious units, with typical 3-bedroom apartments of 2,895 sqft and 4-bedroom units of 3,250 sqft. There are also 2 units of 5-bedroom duplexes measuring 5,877 and 5,898 sqft respectively, and a 5-bedroom super-penthouse of 10,096 sqft. Each unit comes with a private infinity pool.

    Launched at a time when the residential market was at its peak in late 2007, units were priced at $2,600 to $3,200 psf. The highest average price of $4,180 psf was achieved when a 3,251 sqft 4-bedroom unit went for $13.6 million in June 2007 at a preview.

    Located at Grange Road in District 10, Parkview Éclat is a short distance from Orchard Road and international schools such as EtonHouse International Pre-School and ISS International School. “The property is popular with expatriates, given the prime location, sizeable units and top-end finishings,” says Natalie Teo, associate team director of PropNex.

    Between Feb 22 and March 1, 2 neighbouring units on the 11th floor at Parkview Éclat changed hands at $3,468 and $3,469 psf, respectively, according to caveats lodged with URA. The first unit, a 3,251 sqft 4-bedroom unit, went for $11.3 million ($3,468 psf), representing a 15.1% gain for the seller, who bought it for $9.8 million ($3,012 psf) from the developer when it was first launched in May 2007. Meanwhile, the other unit, a 2,896 sqft 3-bedroom apartment, was sold for $10 million (3,469 psf), which was slightly higher than the purchase price of $9.7 million ($3,347 psf) paid in June 2007.

    The latest asking prices for units at Parkview Éclat range from $3,500 to $4,100 psf, says Teo. Although prices at the development seem to have recovered to levels seen in 2007, the rental take-up has been relatively slow. According to Teo, asking rents for 3-bedroom units are $21,000 to $23,000 per month, while those for 4-bedroom units are $23,000 to $25,000 per month.

    Nearby, at Wheelock Properties’ Grange Residences, located at the corner of Grange Road and Tanglin Road, a 2,583 sqft 4-bedroom apartment was sold for $6.5 million ($2,508 psf), according to a caveat lodged with URA in February. This represents a whopping 75% gain for the seller, who purchased the unit for $3.7 million ($1,432 psf) in March 2006. Prior to that, the first owner bought the unit from the developer for $2.8 million ($1,069 psf) in October 2004. The 164-unit freehold luxury Grange Residences was completed in 2004. Typical 4-bedroom apartments measure 2,486 to 2,852 sqft and, given the large unit sizes, the condo is popular with expatriate tenants and owner-occupiers.

    As for rents at Grange Residences, the owner of a lower-floor unit is asking for $15,000 a month. Meanwhile, owners of high-floor units units are asking for $18,000 a month.

    While prices of super luxury condos have yet to recover to their peak 2007 levels, the completion and possible re-launch of high-profile developments such as SC Global’s 66-unit The Marq on Patterson Hill and CDL’s 110-unit Cliveden at Grange could lift prices of other condos.

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    wow, only a pathetic GROSS 15% after almost 4 years?

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    3.5% return per year lor.

    Quote Originally Posted by bargain hunter
    wow, only a pathetic GROSS 15% after almost 4 years?

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    Quote Originally Posted by Wild Falcon
    3.5% return per year lor.
    minus, opportunity cost, agts comm, stamp fees, legal etc etc....not much meat left wor....

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    Wow u all damn high standard leh..... GROSS 1.5m profit..... U call pathetic lah. Either my maths no good or u know something I don't.

    If he bought during 2007 , can I confirm its 20% downpayment plus deferred payment ?

    Meaning he only put 1.96m deposit plus est stamp duty(3% estimate) 294k so it's 2.254m. So no payment till 2011.

    Based on 2.254m outlay n 1.5m profit , it's 66.54% over 4 years! No good? U guys must be property gurus, do share more ideas how to outdo 66% in 4 year. I m keen to learn, unless my calculations are flawed.

    1 more point, it's was bought at 2007 peak peak price

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    Quote Originally Posted by DaytonaSS
    Wow u all damn high standard leh..... GROSS 1.5m profit..... U call pathetic lah. Either my maths no good or u know something I don't.

    If he bought during 2007 , can I confirm its 20% downpayment plus deferred payment ?

    Meaning he only put 1.96m deposit plus est stamp duty(3% estimate) 294k so it's 2.254m. So no payment till 2011.

    Based on 2.254m outlay n 1.5m profit , it's 66.54% over 4 years! No good? U guys must be property gurus, do share more ideas how to outdo 66% in 4 year. I m keen to learn, unless my calculations are flawed.

    1 more point, it's was bought at 2007 peak peak price
    in 2007...tat guy shd buy RCR/OCR ppty....definitely at least X2 or even X3 of his profit....One leicester still got leftover 3bedders in ard Feb-Mar 07 at 6xxpsf...now 10xxpsf...easily 50-60% asset appreciation....if based on ur calculation of 20% downpayment....u do the maths

    southbank in 2007, subsale about 11xxpsf at most....again...u do the maths

    if u noe how to scout for gd deals....even if u buy in 1st half of 2010....now can achieve easily 15% appreciation....again u do the maths and holding period

    for clift, subsale low flr 1bedder can bot at 1500psf in ard mid 2007....now 2kpsf....again u do the maths

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    Quote Originally Posted by DaytonaSS
    Wow u all damn high standard leh..... GROSS 1.5m profit..... U call pathetic lah. Either my maths no good or u know something I don't.

    If he bought during 2007 , can I confirm its 20% downpayment plus deferred payment ?

    Meaning he only put 1.96m deposit plus est stamp duty(3% estimate) 294k so it's 2.254m. So no payment till 2011.

    Based on 2.254m outlay n 1.5m profit , it's 66.54% over 4 years! No good? U guys must be property gurus, do share more ideas how to outdo 66% in 4 year. I m keen to learn, unless my calculations are flawed.

    1 more point, it's was bought at 2007 peak peak price
    My thoughts exactly!

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    Quote Originally Posted by devilplate
    in 2007...tat guy shd buy RCR/OCR ppty....definitely at least X2 or even X3 of his profit....One leicester still got leftover 3bedders in ard Feb-Mar 07 at 6xxpsf...now 10xxpsf...easily 50-60% asset appreciation....if based on ur calculation of 20% downpayment....u do the maths

    southbank in 2007, subsale about 11xxpsf at most....again...u do the maths

    if u noe how to scout for gd deals....even if u buy in 1st half of 2010....now can achieve easily 15% appreciation....again u do the maths and holding period

    for clift, subsale low flr 1bedder can bot at 1500psf in ard mid 2007....now 2kpsf....again u do the maths
    On hindsight , we would know what is better right. There are lots of variations, would he have bought at 3251 sqft unit at leichester? If 1k sqft at 650psf to 1100psf, it only net 450k. Anyway I m not here to say which is a better investment cos it on hindsight. If CCR luxury chong in 2011-2012, looking back one would say buy CCR better right? It's always on point of where u look at it. Standing at 2007 CCR is better than OCR.

    The fact remains, 1.5m profit In 4 years. Bird on hand is worth 2 in the bush.

    Congrats on your Clift bet

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    Quote Originally Posted by DaytonaSS
    On hindsight , we would know what is better right. There are lots of variations, would he have bought at 3251 sqft unit at leichester? If 1k sqft at 650psf to 1100psf, it only net 450k. Anyway I m not here to say which is a better investment cos it on hindsight. If CCR luxury chong in 2011-2012, looking back one would say buy CCR better right? It's always on point of where u look at it. Standing at 2007 CCR is better than OCR.

    The fact remains, 1.5m profit In 4 years. Bird on hand is worth 2 in the bush.

    Congrats on your Clift bet
    of coz its on hindsight mah....but wat i m trying to say....tat buyer bet the wrong segment....however, he is much better den others which is still underwater...

    can nvr use total quantum to measure la.....with 2mil cash on hand....he cud hf bot about 11 units of 3bedder at 1 leicester....with each making 400-500k profit...easily amount to 4-5mil...swee swee...can choose to slowly sell one by one and keep some for passive income

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    For the next two years prob the bull run will move to luxury properties... How much more will it go up? I think market will shift to luxury

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    Quote Originally Posted by CCR
    For the next two years prob the bull run will move to luxury properties... How much more will it go up? I think market will shift to luxury
    mabe u can pick some projects for discussion sake.....den end of yr...see u chun anot...

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    Quote Originally Posted by devilplate
    of coz its on hindsight mah....but wat i m trying to say....tat buyer bet the wrong segment....however, he is much better den others which is still underwater...

    can nvr use total quantum to measure la.....with 2mil cash on hand....he cud hf bot about 11 units of 3bedder at 1 leicester....with each making 400-500k profit...easily amount to 4-5mil...swee swee...can choose to slowly sell one by one and keep some for passive income
    I think he sold too early, maybe instalment coming, anyway he take the good profit. Must the cooling measures pissing pple off. Anyway, he must be a chinaman if he buy whole 2-3 floors, only they buy like that.

    Luxury property is slowly creeping up as shown in NUS index.

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