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Thread: Trillium @ Kim Seng (D9, Freehold, Lippo)

  1. #1
    elements
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    Default Trillium @ Kim Seng (D9, Freehold, Lippo)

    Location: Kim Seng Road, opposite Great World City (D 9)
    Tenure: Freehold
    Site Area: 159,075.8 sqft
    Description: 3 twrs of 29-sty residential development Total Units: 231 Unit Types:
    *2+study ~ 1451 sqft (75 units)
    *3+ study ~ 1852 sqft (75 units)
    *4 BR ~ 2289 sqft (50 units)
    *5 BR ~ 2470 sqft (25 units)
    Penthouses ~ 5900 - 6100 sqft (6 units)

    site plan
    Last edited by elements; 07-03-07 at 16:35.

  2. #2
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    Default Lippo prices Trillium at $1,700 psf average

    Published March 22, 2007

    Lippo prices Trillium at $1,700 psf average

    Condo is first of three group will launch this year; projects could reap over $600m profit

    By KALPANA RASHIWALA


    LIPPO this week previews the first of three Singapore condos it plans to launch this year that could generate a total pre-tax profit of more than $600 million.



    Mr Riady: "There are a few families from overseas wanting to buy three, four, five or even six apartments - one for each child. These are high net-worth buyers that we know from the region - Indonesia, Malaysia, Hong Kong, mainland China, Taiwan.'


    It has priced its Trillium freehold condo opposite Great World City at an average of about $1,700-plus per sq ft, with the range of prices for the 29-storey development from about $1,600 psf to just under $2,100 psf.

    The group has secured enough interest in the 231-unit condo to sell off everything, with many buyers indicating interest in multiple units. 'There are a few families from overseas wanting to buy three, four, five or even six apartments - one for each child,' Lippo Group deputy chairman Stephen Riady told BT yesterday.

    'These are high net-worth buyers that we know from the region - Indonesia, Malaysia, Hong Kong, mainland China, Taiwan. But we may have to ask them to buy fewer units, as we'd like to have a wider spread of buyers so more people can come into the showflat and see the quality of our product.'

    Lippo, controlled by Indonesia's Riady family, has an 80 per cent stake in the Trillium, which is coming up on a site it bought from OCBC early last year.

    Its breakeven cost is about $1,100 psf, and pre-tax profit from this project alone could be about $250 million, BT understands.

    On the Kim Seng Plaza site next door, which the group bought late last year, Lippo plans another luxury condo, perhaps with 100-110 units, which it hopes to launch towards the year's end.

    Assuming it achieves an average selling price of $1,900 psf, the pre-tax profit from this development - in which Lippo has an effective stake of about 80 per cent - could come to about $110 million.

    The group also has a 50 per cent stake in a third project - a condominium with about 180 units at Sentosa Cove, slated for release around July this year.

    'We'll sell for over $2,000 psf average,' Mr Riady said.

    The profit from this could be about $250 million.

    The Trillium's 231 units will be housed in three blocks. The development will have six penthouses, the most expensive being a 5,600 sq ft unit that will cost close to $12 million.

    The remaining units comprise 75 two-bedders with study, 75 three-bedders with study, 50 four-bedders and 25 five-bedders. The project is being marketed by Knight Frank and ERA. Last year, Lippo launched two condos in Singapore - Newton One and The Metropolitan Condominium. The latter is a joint venture with CapitaLand.

    Lippo was the biggest overseas investor in Singapore's property market last year.

    Besides acquiring $1.067 billion of direct property investments here, the group invested about $1.06 billion in listed Overseas Union Enterprise, which owns prize properties like Mandarin Hotel in Orchard Road, OUB Centre in Raffles Place and the Overseas Union House site at Collyer Quay, which is being redeveloped.

    A Lippo-controlled fund reaped a profit of more than $200 million from the sale of 78 Shenton Way that was completed earlier this year.

  3. #3
    beavis
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Lippo sells 85% of Trillium (private launch); half of buyers are Indons.

    Selling condo is just like selling peanuts nowadays. This is Crazy.

    If river valley can sell at around $1800-2000/sq ft. Orchard area like Ardmore, grange, cuscaden and paterson should sell at about $2300-2500/sq ft isn't it???

  4. #4
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    Default Lippo sells 85% of Trillium; half of buyers are Indons

    Published March 26, 2007

    Lippo sells 85% of Trillium; half of buyers are Indonesians

    By KALPANA RASHIWALA


    LIPPO has sold 85 per cent of its 231-unit condo The Trillium, opposite Great World City, during a private preview, achieving an average price in excess of $1,700 psf and has decided to stop sales for now until an official launch this coming Saturday.



    The Trillium: The average price achieved is in excess of $1,700 psf, with prices ranging from $1,600 to $2,000 psf


    Lippo Land executive director Thio Gim Hock told BT yesterday that 'if we wanted to, we could have finished selling all the units during the private preview which was by invitation. But we're deliberately keeping some units so the public can come into our showflat on Saturday, see our products and decide to buy if they wish'.

    'I've specially chosen a cross section of units across the development - high, mid and low floors - and reserved them for the public launch. These are not remnant units after the private preview,' Mr Thio stressed.

    However, Lippo, which has so far not offered the freehold condo's six penthouses for sale, will not release them at the public launch either.

    About half of the 196 units sold in the development since Lippo started issuing options last Thursday have been picked up by Indonesians.

    The rest were bought by Singaporeans and a sprinkling of other nationalities, including Taiwanese, Austrians, Britons, Malaysians, Hongkongers and Koreans, Mr Thio said.

    The range of prices achieved for the units sold, which are up to the 27th floor (the top two levels of the 29-level project is for penthouses), is about $1,600 to $2,000 psf.

    'Although our development has 29 levels, in actual fact it will rise to about 33 levels, because we have a high lobby and a mid-floor sky garden,' Mr Thio said.

    Knight Frank and ERA are marketing the project.

    Lippo has an 80 per cent stake in The Trillium, which is being developed on a site that the group bought from OCBC early last year for about $739 psf of potential gross floor area.

    Assuming the project's breakeven cost is about $1,100 psf, the total pretax profit from the development could be about $250 million, BT understands.

    The Trillium is one of three condos Lippo has slated for launch this year. The other two are a project with about 180 units at Sentosa Cove next to the One Degree 15 Marina, and a 100-110 unit condo on the Kim Seng Plaza site next to The Trillium.
    Last edited by mr funny; 26-03-07 at 11:54.

  5. #5
    Unregistered
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Quote Originally Posted by beavis
    Lippo sells 85% of Trillium (private launch); half of buyers are Indons.

    Selling condo is just like selling peanuts nowadays. This is Crazy.

    If river valley can sell at around $1800-2000/sq ft. Orchard area like Ardmore, grange, cuscaden and paterson should sell at about $2300-2500/sq ft isn't it???
    Ardmore, grange, cuscaden and paterson already around $2500 - $3000 psf.

    This is good! 2 tier market.

  6. #6
    Unregistered
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    visited it today... nice archi... posh

  7. #7
    Unregistered
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    Talking Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Heard from a lawyer that agents are having a difficult time flipping this one. Apparently a lot of speculators punted on The Trillium and now they can't offload it. If it's true, I think it's a harbinger of worse things to come. Alamak!

  8. #8
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Quote Originally Posted by Unregistered
    Heard from a lawyer that agents are having a difficult time flipping this one. Apparently a lot of speculators punted on The Trillium and now they can't offload it. If it's true, I think it's a harbinger of worse things to come. Alamak!
    i thought punters typically only make a bee-line for projects with deferred payment? why would they risk going for one that comes only with progressive payments?

  9. #9
    Unregistered
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Quote Originally Posted by Unregistered
    i thought punters typically only make a bee-line for projects with deferred payment? why would they risk going for one that comes only with progressive payments?
    Because a punter is punter is a punter. That's why.

  10. #10
    whatever
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    Default Re: Trillium @ Kim Seng (D9, Freehold, Lippo)

    Fully Sold

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