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Thread: Seven Palms (D4, 99 years leasehold, SC Global)

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    Default Seven Palms (D4, 99 years leasehold, SC Global)

    http://www.businesstimes.com.sg/sub/...45540,00.html?

    Published October 7, 2009

    Seven Palms smashes price records at Sentosa Cove

    SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project

    By KALPANA RASHIWALA


    (SINGAPORE) Upmarket developer SC Global Developments is said to have sold six units at its Seven Palms at Sentosa Cove condo at between $3,100 per square foot (psf) and $3,400 psf - record prices for the upscale waterfront housing district.

    On a lump-sum basis, the three and four-bedroom units were sold at about $9 million to $15 million each.

    All units in the four-storey development will face either Tanjong Beach next door, or the sea or the Tanjong Golf Course at the Sentosa Golf Club.

    Singaporeans are understood to have picked up two of the six units sold recently, with Singapore permanent residents buying the other four.

    Market watchers reckon SC Global is probably looking at a project-average price of about $3,500 psf for Seven Palms at Sentosa Cove. The condo will comprise just 41 units.

    Standard apartment sizes range from about 2,750 sq ft to 6,500 sq ft.

    BT understands that the biggest unit in the 99-year-leasehold project, an 8,000-sq-ft penthouse, has a price tag of about $25 million to $30 million.

    Prior to this, the highest median price achieved by a developer of a Sentosa Cove condo was $2,734 psf seen at Lippo Group's Marina Collection, which was released in late 2007.

    The highest price fetched for a unit in that development was $2,917 psf, for a fourth-floor unit that sold for just over $9.8 million in December 2007.

    Property consultants were generally not surprised at the record price achieved for Seven Palms, given the project's unique positioning.

    'This will be the only condo on Sentosa Cove with direct access to a beach. And SC Global has established a track record of being able to command a premium to the market for its project,' said CB Richard Ellis executive director (residential) Joseph Tan.

    'We're seeing big-ticket transactions coming back to the market. For example, there are more of the $4.5 million to $12 million per apartment deals again as the bottom-up property recovery spreads to the luxury residential sector,' he added.

    Seven Palms is designed by Kerry Hill Architects, which has designed many of the Aman resorts.

    SC Global clinched the 113,797-sq-ft plot, which was marketed as the Beachfront Collection, at a tender conducted by Sentosa Cove Pte Ltd (SCPL) and which closed in July 2007.

    Its top bid of $268.3 million worked out to nearly $1,800 psf per plot ratio. Assuming a breakeven cost of about $2,400 psf, SC Global's pre-tax profit from the development would be more than $170 million.

    The plot has a 1.31 plot ratio (ratio of maximum potential gross floor area to land area) and a four-storey height limit. The maximum number of apartments allowed by SCPL - the district's master planner - is 88 units.

    However, SC Global has opted to build less than half that number, but with bigger units.

    All penthouses and ground-floor apartments come with their own swimming pool and each unit in the project has a private lift. Housing in the immediate neighbourhood is bungalows.


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    http://www.businesstimes.com.sg/sub/...53670,00.html?

    Published October 8, 2009

    SEVEN PALMS SENTOSA COVE

    10 units released, 6 sold

    Asking average price is about $3,300 psf or about $8.5m per unit


    (SINGAPORE) SC Global Developments yesterday said it is releasing about 10 of the total 41 units at its Seven Palms Sentosa Cove condo at an average price of about $3,300 psf. In absolute quantum, prices start at about $8.5 million per unit.


    Imagine: Tanjong Beach on one side, a golf course adjacent to it and the South China Sea on the other side

    The upscale developer recently held private previews for the first phase and has sold six of the 10 units at an average lumpsum price of about $11 million per residence. Prices of the six units sold range from about $3,100 psf to $3,400 psf.

    Standard apartments in Seven Palms range from about 2,700 sq ft to 6,800 sq ft and have three to five bedrooms. Penthouses range from about 4,000 to 8,000 sq ft. The residences are housed in three four-storey high blocks formed around a square coconut grove. 'A huge open-ended portal connects the coconut grove to the beach for physical and visual access. Under this portal is a luxuriously-appointed beach club, complete with storage for water sports equipment, a glass-walled gymnasium, and plenty of deck areas for lounging, yoga, catered events, or just doing nothing,' SC Global said in its news release.

    It will be developing the project on a 99-year leasehold plot flanked by Tanjong Beach on one side, a golf course adjacent to this and the South China Sea on the other side.

    'To step out of your residence and walk directly onto the beach is truly unique in urban Singapore. I have spent much time on site over the past year appreciating this unique and rare location and working diligently to create something befitting of this special site,' said SC Global chairman and CEO Simon Cheong.

    The company also said the name Seven Palms derives from its estate management arm, Seven Palms Resort Management, which has been providing resident services to all the group's completed developments since 2002.

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    walk past your front gate and it's the beach... nice lifestyle... and as with all things, it comes with a price.

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    Can buy the cheaper version at the coast or azure at sentosa..

    Sentosa is so freaking small ..as with singapore that it really does not matter walking a few minutes to get to the beach

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    Quote Originally Posted by focus
    Can buy the cheaper version at the coast or azure at sentosa..

    Sentosa is so freaking small ..as with singapore that it really does not matter walking a few minutes to get to the beach
    same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

    as usual, you have chosen to miss the point.

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    Quote Originally Posted by Lord Anus
    same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

    as usual, you have chosen to miss the point.
    Simple. If I have the money and I like it, I just buy! One man's meat is another's poision!

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    Quote Originally Posted by Lord Anus
    same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

    as usual, you have chosen to miss the point.
    You are really Lord anus..
    Thanks for the guidance.

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    Quote Originally Posted by Lord Anus
    same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?

    as usual, you have chosen to miss the point.
    Though both are midsize, Camry and 5-series are very different cars.


    How about using fullsize S-class as an example?

    One can buy a S300L V6 but instead choose a S65L AMG V12 that costs "more than double" the former.

    One can't get more metal, length, legroom and volume with the extra money.

    On paper, the 4.4s S65L AMG will outrun the standard pathetic EvoX. But who in the right mind would race in a 5.2m-long 2.5-tonne sedan as it takes twice as much skill to race in it than the EvoX.

    On the road, the car is more likely driven by the chauffeur during weekdays and the owner during the weekends. (For reference, ask the lucky chauffeur in Daimler AsiaPac HQ). Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.


    So why pay more than double the money for a 612hp car when all the owner needs is a 216hp S260 (not even 231hp S300)?

    I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.

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    Quote Originally Posted by Lord Anus
    same reason why some buy BMW 530i while others buy Camry 2.0. does the 2 extra cylinders and displacement matter in singapore? does 4 seconds quicker acceleration matter?
    The difference is not inside the car, but outside the car.

    Look at these two photos below. Can you spot the difference? Don't you agree that the Singapore Flyer in the first photo looks much more beautiful?






    Quote Originally Posted by Reporter
    Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.
    Or if the Reporter in the S300L is rushing to report on the latest condominium news.

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    interesting illustration, i wonder if the house you stay in creates a different impression on the same view outside... you've gotten me thinking.

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    Quote Originally Posted by jlrx
    The difference is not inside the car, but outside the car.

    Look at these two photos below. Can you spot the difference? Don't you agree that the Singapore Flyer in the first photo looks much more beautiful?




    ....................
    Goodness!
    It has a pair of pedal shifters on the steering wheel.

    Is that an M5?

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    Quote Originally Posted by kane
    interesting illustration, i wonder if the house you stay in creates a different impression on the same view outside... you've gotten me thinking.
    Of course ... look at the two pictures below.

    Same view ... Seafront On Meyer (artist's impression) vs. Marine Parade HDB flat.





    Quote Originally Posted by Reporter
    Goodness!
    It has a pair of pedal shifters on the steering wheel.

    Is that an M5?
    You are sharp! I copied from this BMW website ...

    http://ah-karl-co.bmw.de/sync/showro...s/cockpit.html

    Aus der schönsten Perspektive.

    Das Cockpit des BMW M5 Touring.

    Die klare, weiß beleuchtete Instrumentenkombi, das M Lederlenkrad mit Multifunktion und die Mittelkonsole mit dem beleuchteten SMG Wählhebel stehen ganz im Zeichen modernster Fahrergonomie. Sie unterstreichen, dass im Cockpit des BMW M5 Touring alles auf den sportlichen und vielseitigen Fahrer zugeschnitten ist. Logisch platzierte Funktionsschalter und das iDrive mit dem übersichtlichen Control Display garantieren intuitive Bedienbarkeit.

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    Seafront on meyer is photoshopped... HDB photo is actual photo taken..

    of course there is a difference.. That's why it is call ARTIST IMPRESSION

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    i'm sold jlrx.

    actually our seaview is littered with tankers. in the real luxurious seaview, it should be filled with yachts.

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    Quote Originally Posted by kane
    i'm sold jlrx.

    actually our seaview is littered with tankers. in the real luxurious seaview, it should be filled with yachts.
    "luxurious" is a state of the mind.

    Which view is more luxurious?

    Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

    with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background



    Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

    with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background


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    Actually..you go bintan angsana resorts or banyan tree..and you can see very very nice seaview.. bintan would do brisk business if they start selling their land for residential developments

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    Quote Originally Posted by Reporter
    Though both are midsize, Camry and 5-series are very different cars.


    How about using fullsize S-class as an example?

    One can buy a S300L V6 but instead choose a S65L AMG V12 that costs "more than double" the former.

    One can't get more metal, length, legroom and volume with the extra money.

    On paper, the 4.4s S65L AMG will outrun the standard pathetic EvoX. But who in the right mind would race in a 5.2m-long 2.5-tonne sedan as it takes twice as much skill to race in it than the EvoX.

    On the road, the car is more likely driven by the chauffeur during weekdays and the owner during the weekends. (For reference, ask the lucky chauffeur in Daimler AsiaPac HQ). Regardless of the driver, the S65L AMG will be driven as slow as the S300L on the road. It may even be slower if the businessman/executive in the S300L is rushing to close a deal.


    So why pay more than double the money for a 612hp car when all the owner needs is a 216hp S260 (not even 231hp S300)?

    I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.
    there is no point driving a luxury car that doesnt have the horsepower to match, might as well drive a picanto or perodua, unless you're chauffer driven of course. it doesnt really matter how heavy the car is, but its all abt the torque/centurysprint and handling.

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    you're wrong. weight is a drag. performance is all about power to weight ratio. handling is all about front rear weight distribution, stiffness and lightness of chassis.

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    for 0-60 mph, a ducati will outrun a 2.8 second CLK DTM AMG anyday. or even a bugatti veyron. but at the 1/4 mile, the veyron 16-4 will be far ahead.

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    Quote Originally Posted by orange
    for 0-60 mph, a ducati will outrun a 2.8 second CLK DTM AMG anyday. or even a bugatti veyron. but at the 1/4 mile, the veyron 16-4 will be far ahead.
    lol you certainly seem to know your cars - what do you drive?

    my point being that just as in properties, many car buyers buy into brand and perceived prestige rather than for the enjoyment of the drive. why buy a 320 or c180 when a mazda 6 is faster, better equipped and way cheaper? Unless chauffered, why even bother with a s300 when a top of the line hyundai is a plushier ride?

    same with properties - why bother to buy a 99LH condo right smack in the middle of a HDB estate?

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    you make sentosa buyers look stupid...

    you don't get the occasional tanker. you actually get many parked pretty close to your doorstep.

    Quote Originally Posted by jlrx
    "luxurious" is a state of the mind.

    Which view is more luxurious?

    Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

    with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background



    Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

    with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background


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    i drive a bmw 335i E93. C180/320i over mazda 6. your analogy of 99yr condo in HDB heartland is off. should be FH landed in YCK which are cheaper than FH condo in D9/10.

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    Quote Originally Posted by gfoo
    there is no point driving a luxury car that doesnt have the horsepower to match, might as well drive a picanto or perodua, unless you're chauffer driven of course. it doesnt really matter how heavy the car is, but its all abt the torque/centurysprint and handling.
    Quote Originally Posted by gfoo
    lol you certainly seem to know your cars - what do you drive?

    my point being that just as in properties, many car buyers buy into brand and perceived prestige rather than for the enjoyment of the drive. why buy a 320 or c180 when a mazda 6 is faster, better equipped and way cheaper? Unless chauffered, why even bother with a s300 when a top of the line hyundai is a plushier ride?

    same with properties - why bother to buy a 99LH condo right smack in the middle of a HDB estate?
    I mentioned fullsize but am not sure why mini (Picanto) and compact (Mazda 6) were brought in to compare. I think we should compare with the same size, e.g. Hyundai Equus or 300C with 7-series, to be fair.

    Size is different from performance. They are 2 different requirements. Please don't mix them.

    Quote Originally Posted by Reporter
    I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.
    (gfoo, I've got your point but Mazda 6 2.0 is not a good example as it is slower than S300 and C180 (1.6T). Let me bring in a better example.)

    Legacy GT (2.5T AWD) is faster than C300 and so much much more cheaper. I agree totally. I don't see the logic of buying the C300. As mentioned in my last posting, I don't "understand the logic".

    And because I can't "understand the logic", the day for me to own a S65L AMG, CLK AMG DTM, Bugati Veyron will never come.


    I think we have went OB for quite a while in this thread. Let's stop discussing this car thing?

    Meanwhile, I am going to work really hard on "understanding the logic". I know you are going to say I am a fool and an idiot. I know, I know, but I really want to be a fool that own one of these no-value-for-money car. You need fools and idiots in the society so that the rest are intelligent and smart. I am willing to be that fool.

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    Definitely the brazilian seaside view looks more luxurious.

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    Quote Originally Posted by orange
    i drive a bmw 335i E93. C180/320i over mazda 6. your analogy of 99yr condo in HDB heartland is off. should be FH landed in YCK which are cheaper than FH condo in D9/10.
    kewl, you jb3ed your n54 yet?

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    nope, everything is stock. stock rims and runflats even. i'd get a GTR or 997 turbo if i really wanted to blow people away. i'd hate to be seen driving a zhng-ed car, it's just not me.

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    The 335 to me was meant to be a luxury GT straight from the factory, not a hardcore track car. why mess with the engine management and turbo boost. don't be cheapskate and buy a 911 turbo already! anyway, back to condos.

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    Quote Originally Posted by orange
    The 335 to me was meant to be a luxury GT straight from the factory, not a hardcore track car. why mess with the engine management and turbo boost. don't be cheapskate and buy a 911 turbo already! anyway, back to condos.
    wahh... orange you rich mah...

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    Quote Originally Posted by kane
    Definitely the brazilian seaside view looks more luxurious.
    "luxurious" is a state of the mind.

    How about if I superimpose some "thought bubbles" into the photos?

    Which view looks more "luxurious" now?

    Photo A (Sentosa Cove Sea Front House) S$ 20,000,000

    with greyish oil-stained sea water, barren islands and the occasional tanker sailing past in the background



    Photo B (Brazil Bahia Sea View Apartment) S$ 361,000

    with breath-taking panoramic view of crystal blue ocean and clear sky, historic architecture buildings perched on cliffs and yachts in the background



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    Quote Originally Posted by Reporter
    I think we have went OB for quite a while in this thread. Let's stop discussing this car thing?

    Meanwhile, I am going to work really hard on "understanding the logic". I know you are going to say I am a fool and an idiot. I know, I know, but I really want to be a fool that own one of these no-value-for-money car. You need fools and idiots in the society so that the rest are intelligent and smart. I am willing to be that fool.
    Can't be helped ... I think most of us here (I may be wrong) are not in the league of buying these Sentosa Cove $20 M bungalows and $15 M Seven Palms condos.

    Hence our minds tend to drift ... into cars!

    e.g. Reporter's S300L, orange's 335i ...

    Actually, the concept of "value for money" is very subjective. I would say that everyone thinks his own car or house is "value for money", otherwise he wouldn't have bought it in the first place.

    Take for example those two cars above, each of which costs around $280,000.

    If you ask the majority of Singaporeans struggling to pay the mortgage of their HDB flats or suburban condos whether the two cars above are "value for money", I think you will get this response ...

    SIAO !!!

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