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Thread: Cascadia (D21, Freehold, Allgreen)

  1. #61
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    no need (can't fit in also) 2 maids, 3 bedroom not that big in size for a so-called upmarket development. Devilplate said use tiles which agent claims looks like marble? sounds like mass market product selling at upmarket price at the border of the upmarket district.

    Quote Originally Posted by jitkiat
    For genuine stayers who can afford a 3br here, owning 2 cars + 2 maids and home tutors liao, MRT not that attractive relative to suburbs.

  2. #62
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    Default Citibank cuts allgreen citing poor Cascadia sales

    wah, even less than what the agent told devilplate. only 30 units?


    Asia Pacific  Singapore
    Real Estate Development (GICS)  Real Estate/Property (Citi)
    Company
    24 May 2010  7 pages
    Allgreen Properties (AGRN.SI)
    Downgrade to Sell: Risk of Further Disappointment
    Downgrade to Sell/Low Risk from Buy, TP lowered to $0.93 from S$1.38 — We
    are cutting our FY10E earnings by 21% following disappointing sales at Cascadia
    and assuming delays in new launches. Facing more downside risk, the stock is
    likely to trade at an RNAV discount of 50% (previous 25%), on our analysis.

    Lackluster performance in residential properties — A showflat visit revealed that
    sales at The Cascadia, along Bukit Timah Road, have been disappointing, with
    approximately 30 units sold (out of around 140 units launched) during the first
    weekend of its launch. Concurrently, MGPA, the previous buyer of 162 units
    Cascadia’s initial phase, has sold its stake to Alpha Investment Partners at an
    estimated 10-12% loss.

    Launches likely to be delayed — Allgreen will pace the release of other projects
    like RV Residences, Riverbay and Riviera 38 in line market demand. Citing
    increasing demand from buyers, future projects are expected to be launched with
    a higher proportion of smaller (450 sq ft) units. Given Allgreen’s current sales
    figures, we assume delays in project launches.

    Stable performance from investment properties — Performance from its
    investment properties with retail and office rents averages S$7.50 and S$6.80 psf
    respectively. Serviced apartments and hotels have also been seeing higher
    occupancy rates, with the former above 90% and hotels around 85%. Current
    average rents for serviced apartments stand at S$8,500/month and hotel room
    rates at S$190/night.

    Increased exposure to China ahead with launch of new projects — Management is
    expecting the launch of mixed-use projects in Chengdu (25% stake) in June 2010.
    In the pipeline are projects in Tangshan, Shenyang, Tianjin and Qinhuangdao,

    with Allgreen having equity interests ranging from 10% to 31%.

  3. #63
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    Porcelain tiles disguised as marble flooring? Faint!

    I think the "mid-market" new launch is over-valued liao. Primary "mid" market reaching strong resistance at 1400psf. Look at Flamingo, The Shore and this Cascadia, there is no longer demand at such price points. The Meyer cluster bungalow also reduce price by $350k within 2 weeks.

  4. #64
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    yeah, all these are suppose to be mid market but trying to price themselves as upmarket, thus, the resistance.

    Quote Originally Posted by Wild Falcon
    Porcelain tiles disguised as marble flooring? Faint!

    I think the "mid-market" new launch is over-valued liao. Primary "mid" market reaching strong resistance at 1400psf. Look at Flamingo, The Shore and this Cascadia, there is no longer demand at such price points. The Meyer cluster bungalow also reduce price by $350k within 2 weeks.

  5. #65
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    Was looking for 3 to 4 bedrooms: disappointment with very tight indoor space: 3 brm, 4brm were 1180 and 1410-1490sf respectivley. what with the bay windows and planter(but only for living room width and narrow but no balcony) remaining space rather tight.
    Understandably the show flat had one bedrm abutting the living removed for a more acceptable living room space; and id had customised beds to built over bay windows in brms, otherwise can hardly walk for showflt visitors.
    Both of the order of 1500+psf.
    No marble but porcelin: looks quite like homogenous to me.
    Quantum I supposed is made more acceptable due to the smaller area.
    But personally missing the feel good factor for own stay/family: perhaps mainly not used to the cramped feel as my current 3brms also nearby, is already abt 1400sf and with no bay windows/planters!
    Have to look elsewhere.


    Quote Originally Posted by bargain hunter
    no need (can't fit in also) 2 maids, 3 bedroom not that big in size for a so-called upmarket development. Devilplate said use tiles which agent claims looks like marble? sounds like mass market product selling at upmarket price at the border of the upmarket district.

  6. #66
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    yeah, quantum is comfortable but if can't feel comfortable staying in it then no point. size would appeal to hdb upgrades but not the quantum. quantum would appeal to current pte ppty owners but not the size...ok that explains the poor sales. LOL.


    Quote Originally Posted by livenlove
    Was looking for 3 to 4 bedrooms: disappointment with very tight indoor space: 3 brm, 4brm were 1180 and 1410-1490sf respectivley. what with the bay windows and planter(but only for living room width and narrow but no balcony) remaining space rather tight.
    Understandably the show flat had one bedrm abutting the living removed for a more acceptable living room space; and id had customised beds to built over bay windows in brms, otherwise can hardly walk for showflt visitors.
    Both of the order of 1500+psf.
    No marble but porcelin: looks quite like homogenous to me.
    Quantum I supposed is made more acceptable due to the smaller area.
    But personally missing the feel good factor for own stay/family: perhaps mainly not used to the cramped feel as my current 3brms also nearby, is already abt 1400sf and with no bay windows/planters!
    Have to look elsewhere.

  7. #67
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    actually allgreen has a similar interior floor plan product called one devonshire launched near the bottom of the market at 1600 to 1800psf which attracted long queues and grabbed. i think pple are more willing to sacrifice size for a high rise skyscraper in a prime location.


    Quote Originally Posted by bargain hunter
    yeah, quantum is comfortable but if can't feel comfortable staying in it then no point. size would appeal to hdb upgrades but not the quantum. quantum would appeal to current pte ppty owners but not the size...ok that explains the poor sales. LOL.

  8. #68
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    I think that basically describes the conundrum.

    Quote Originally Posted by bargain hunter
    yeah, quantum is comfortable but if can't feel comfortable staying in it then no point. size would appeal to hdb upgrades but not the quantum. quantum would appeal to current pte ppty owners but not the size...ok that explains the poor sales. LOL.

  9. #69
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    Default Condo for Sale@ Bukit Timah Road, The Cascadia

    The Cascadia

    Condo for Sale@ Bukit Timah Road, District 21

    Near Sixth Avenue MRT Station,

    Nearby Turf City, Singapore Institute of Management and many other educational institutes.

    Badminton hall, BBQ pits, Swimming pool, Basketball court, Clubhouse, Tennis courts

    Average psf: S$1528

    For pictures and contact details visit: http://bit.ly/aixdx6

  10. #70
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    Quote Originally Posted by livenlove
    I think that basically describes the conundrum.
    any updates on sales of cascadia?
    when is it TOPing?

  11. #71
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    Quote Originally Posted by leslens
    any updates on sales of cascadia?
    when is it TOPing?
    i think TOP end of this year.
    But sales quite slow. 1450psf for this kind of finishing, and with other projects (old and new) around is not that good value for $
    Quite a few stacks not released yet, even those released i heard take up only so-so. Actually for Allgreen proj, I was a bit disappointed.

  12. #72
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    Quote Originally Posted by Mongoose
    i think TOP end of this year.
    But sales quite slow. 1450psf for this kind of finishing, and with other projects (old and new) around is not that good value for $
    Quite a few stacks not released yet, even those released i heard take up only so-so. Actually for Allgreen proj, I was a bit disappointed.
    last transacted was psf 13XX
    prices are pulling back evidently

  13. #73
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    Quote Originally Posted by leslens
    last transacted was psf 13XX
    prices are pulling back evidently
    prices to me looks pretty same....i doubt got any drop in developer's price lah...if u use small units PSF to compare with low flr bigger units psf...of coz drop lor

    941 Bukit Timah Road #09-45
    Freehold
    $1432
    1507
    $2158k
    08 Jul 10
    931 Bukit Timah Road #03-22
    Freehold
    $1377
    1238
    $1704k
    01 Jul 10
    939 Bukit Timah Road #02-39
    Freehold
    $1452
    581
    $844k
    30 Jun 10
    935 Bukit Timah Road #03-31
    Freehold
    $1330
    1184
    $1575k
    28 Jun 10
    935 Bukit Timah Road #07-32
    Freehold
    $1479
    883
    $1305k
    25 Jun 10
    939 Bukit Timah Road #07-42
    Freehold
    $1489
    990
    $1474k
    23 Jun 10
    935 Bukit Timah Road #06-34
    Freehold
    $1408
    1184
    $1667k
    23 Jun 10

  14. #74
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    well to spot a trend, u got to look into the details and do some homework

    it wont be staring at u...

  15. #75
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    Quote Originally Posted by leslens
    well to spot a trend, u got to look into the details and do some homework

    it wont be staring at u...
    wah...so many experts here...

  16. #76
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    Visited the showflat yesterday, quiet like this development
    Pricing around mid $1,400 psf. Comparing to older project,
    The Sterling, the asking price is probably mid to high $1,200 psf.
    For Sterling, given its age, will need $50psf for renovation.
    Need opinion on which of the 2 is a better investment.

  17. #77
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    30 units sold at median price of 1413psf in nov. 176 units to go.

  18. #78
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    Wonder if there are any more 1 or 2 bedroom units left?

  19. #79
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    i visited the showflat 2 weeks back. i think still have. but pretty close to bukit timah main road.

    Quote Originally Posted by azeoprop
    Wonder if there are any more 1 or 2 bedroom units left?

  20. #80
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    Seems like a bargain now if still selling around 1450psf. Some more already TOP and brand new.

    http://www.thecascadia.com.sg/
    Last edited by azeoprop; 10-01-11 at 21:44.

  21. #81
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    i m not sure about 1 bedrooms but the 4+study was quoted at that price. i heard (not sure how true) prices will be raised this friday when buyers may be allowed to view the units that they are keen in. so if u r keen, better take a look in the next few days.

    Quote Originally Posted by azeoprop
    Seems like a bargain now if still selling around 1450psf. Some more already TOP and brand new.

    http://www.thecascadia.com.sg/

  22. #82
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    sianz.. haven't sell finished already hit by flooding news..
    http://singaporeseen.stomp.com.sg/st...k_flooded.html



    Flooding of basement carpark? this type cannot rectify one right? or can ask developer to rectify with this photo.

  23. #83
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    thanks. I was waiting for the price to drop to 1000-1200psf before pouncing. With these photos, I am not keen even at those prices.

    it was just a brief thunder storm. what if one of those once-in-100-years monster storm hits. the whole carpark would turn into another underwater world.

    I also heard that maplewoods' carparks got flooded in 2010 a few times.

  24. #84
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    the most insulting part is the photographer purposely included the signage for the show suite. LOL. how to sell the balance units like that?

    Quote Originally Posted by focus
    sianz.. haven't sell finished already hit by flooding news..
    http://singaporeseen.stomp.com.sg/st...k_flooded.html



    Flooding of basement carpark? this type cannot rectify one right? or can ask developer to rectify with this photo.

  25. #85
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    Quote Originally Posted by azeoprop
    Wonder if there are any more 1 or 2 bedroom units left?
    Have but won't be cheap...

    The last 1BR sold caveated

    945 Bukit Timah Road #03-55 Freehold $1571 570 $896k 24 Nov 10

  26. #86
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    i'm curious to see what the developer has to say/do abt this. can buyers blame "design fault" and demand rectificatoin ? architects pay compensation ? for once consumers sue the big boys and win ? (yea I know wishful thinking)

  27. #87
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    Quote Originally Posted by amk
    i'm curious to see what the developer has to say/do abt this. can buyers blame "design fault" and demand rectificatoin ? architects pay compensation ? for once consumers sue the big boys and win ? (yea I know wishful thinking)
    not design fault. the whole area is prone to flooding. tessarina, maplewoods, and now cascadia. the whole area is now blacklisted.

  28. #88
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    Quote Originally Posted by stalingrad
    not design fault. the whole area is prone to flooding.
    this is not necessarily true. if the area is known to be prone to flooding, the design of the basement carpark should then consider this fact, and design with additional drainage/barrier. had this been a gov project, say a school, the architect and builder will be held responsible. If it's a MRT project, not only they will be held responsible, they may even be charged in court, if serious incidents happen, for "negligence and failure to comply CP###" ! dun believe me ? u can go check some of the tender documents for public projects. too bad we are small flies, and have to look after our interest ourselves.

    so yea for once I agree with u: this area is blacklisted

  29. #89
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    I visited this condo last week. Agent wasn't convincing enough and kept stressing that prices have come down as compared to launch. But wasn't able to convince apple to apple, 3br to 3br. She kept comparing studio's psf to 4br psf.

    Now with flooding, I hope they can drop price. Small land space for 500+ units?

  30. #90
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    Luckily never buy....scary.

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