Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland) [Archive] - Condo Forum Singapore Property Review Mortgage Loan Buy Rent Sell Real Estate

View Full Version : Wallich Residence at Tanjong Pagar Centre (D2, 99 years leasehold, Guocoland)

richwang

07-05-12, 13:32

Anyone has any idea about the site just next to Tanjong Pagar by GuocoLand?
Is it commercial or residential?
I cannot find any information at GuocoLand website.
But they have fensed that area.

Thanks,
Richard

Allthepies

07-05-12, 16:30

richwang

07-05-12, 20:30

Just went to the site, it says "Mixed Development".
"Creating a new landmark".

Thanks,
Richard

dtrax

07-05-12, 20:37

Mixed development.. Think they bot close to 1k psf for that area. This one I think they muz be waiting to showhand at 3k psf LOL. still got many other core area projects to compare like southbeach project, rocher-ophir development. Besides already got many cbd residetial projects that are launched recently at low-mid 2k psf

richwang

07-05-12, 20:52

http://www.guocoland.com.sg/Documents/PressReleases/2011/PressRelease-230211.pdf

You are right, they bought at S$1k, and will build Grade A Office, Hotel, Shops and Singapore’s tallest ever residences.

280 m (78 storeys)

So yes, might aim for 3k. But the surrounding office rental is still cheaper than Raffles Place / Maria Bay.

Let's hope they won't wait for too long and the financial market turns down.

Thanks,
Richard
PS. The Demolishing Project is already behind schedule, should have completed by Q4 last year.

dtrax

19-06-12, 05:09

hearsay launching soon.. showflat being built riaox. Another mega project of the year after the fail whale Sky Habitat?

They bot cheap, will they sell cheap? dream a dream :sleep: :sleep: :sleep:

dtrax

22-06-12, 03:36

http://farm8.staticflickr.com/7133/7415791798_67042c4048_z.jpg
Courtesy of http://singaporecityplayground.com

GuocoLand just took 1.8B 5yr term loan
http://www.ifrasia.com/guocoland-signs-s$18bn-loan/21020996.article

Mega project lai liao.. will they sell at Sky Habitat price?

dream a dream :sleep: :sleep: :sleep:

richwang

23-06-12, 16:55

Rental is very bad recently in that area.
International Plaza 2 bedder is only asking for 3.9K.
For a gross rental yield of 4%, they can only sell for 1.17M.

Thanks,
Richard

thomastansb

23-06-12, 17:41

Maybe it is old, that is why. Icon or Clift studio mostly 4 to 4.5k.

Rental is very bad recently in that area.
International Plaza 2 bedder is only asking for 3.9K.
For a gross rental yield of 4%, they can only sell for 1.17M.

Thanks,
Richard

richwang

23-06-12, 22:34

AK47

29-06-12, 14:55

http://www.propertyguru.com.sg/listing/10197240/for-rent-icon

http://www.propertyguru.com.sg/listing/10195031/for-rent-icon

Icon is also asking for $3.X K now.

The rental market has quickly turned soft in the past weeks.

Thanks,
Richard

Icon studio has always been at this level. I have never rented more than 4K ever since it TOPed.

That said, it is testing high. Just need to check URA rental index for Icon. It is at its highest point last quarter.

This is achieved with constructions going on nearly all around the condo.

Thanks
From ppl in the know

hopeful

29-06-12, 18:01

Icon studio has always been at this level. I have never rented more than 4K ever since it TOPed.

That said, it is testing high. Just need to check URA rental index for Icon. It is at its highest point last quarter.

This is achieved with constructions going on nearly all around the condo.

Thanks
From ppl in the know

Ur unit facing the altez, sky suites or greenery?

thomastansb

30-06-12, 00:24

With all the surrounding constructions, I am not surprised. My Clift studio is rented slightly above $9 psf though.

CCR

30-06-12, 00:37

AK47

30-06-12, 12:15

City facing. Rented @6.5psf.
Slightly lower than the medium of 6.8psf.

Icon price n rent IMO is depress due to massive constructions all around. But that also offer an opportunity to get in cheaper and reap the benefits of transformation in its immedate neighborhood in 2-3 years time.

2 super tall condos
2 hotels
1 refurbished mall
1 massive commercial/resi complex

All at different stages of construction.

richwang

12-07-12, 14:12

Project Title:

Proposed mixed development comprsing erection of
19/64 storey building with
6 storey commercial & car park podium,
13 storey hotel,
32 storey office and
26 storey residential flats (181 units) with
3 basement commercial & car park on TS 03 Lot 00876K
at Peck Seah Street

Project Ref No: A1252-00483-2011

Expected Date of Completion: End Februray 2013 (are u sure?)

Thanks,
Richard
PS. I cannot upload file attachement recently.

dtrax

21-11-12, 23:40

To be launched soon

http://farm9.staticflickr.com/8065/8205397329_9acf92ec08_c.jpg

lifeline

21-11-12, 23:49

thanks for sharing this imposing rendering.
do you know what block will house the residential? and from which level?

dtrax

21-11-12, 23:55

thanks for sharing this imposing rendering.
do you know what block will house the residential? and from which level?

19/64 storey building with
6 storey commercial & car park podium,
13 storey hotel,
32 storey office and
26 storey residential flats (181 units) with
3 basement commercial & car park on TS 03 Lot 00876K
at Peck Seah Street

64 storey:
1-6: commercial
7-38: office
39-64: condo

Learner

21-11-12, 23:59

Look forward to see their plans

dtrax

21-11-12, 23:59

Looking from the render, there is a chance the pool will be on top or on the 40+-50+ flr

lifeline

22-11-12, 00:04

thanks dtrax. any idea of the indicative launch price and date?

dtrax

22-11-12, 00:04

thanks dtrax. any idea of the indicative launch price and date?

not sure. Will it sell for 2k psf?? dream a dream. Developer got the land cheap cheap. guocoland sales tactics standard one, get the bigger ones the psf will be cheap a cheap

lifeline

22-11-12, 00:19

tallest of 3 towers in this whole area, residential from 39, price from 2500psf? depends on their marketing strategy? another one for your collection, Learner?

dtrax

22-11-12, 00:23

tallest of 3 towers in this whole area, residential from 39, price from 2500psf? depends on their marketing strategy? another one for your collection, Learner?

Guccoland price gap is damn kua zhang one.. i experience many many times b4 liao. if you observe their launch price for Leedon Resi, Sophia Resi, Elliot @ East Coast. The psf price gap between largest[PH units/large units/units w/ big patios etc..] and smallest damn consistent one almost 900-1k psf. Recession also like that, bull market also like that wdf.. So if you compare smallest vs a mid size, probably the difference will be 300-400psf. If compare their smallest and largest [or large unit] can be up to 6xx to more than 800+psf gap. If Eden resi selling at 3k psf at cityhall, using Guccoland sales tactic, a beri low 2k psf is highly possible provided u dare hoot large + they got land at 1k psf. Also, they have office, hotels and commercial units so they have more free play in terms of psf pricing for their residential units. dream a dreamm...

lifeline

22-11-12, 07:04

Guccoland price gap is damn kua zhang one.. i experience many many times b4 liao. if you observe their launch price for Leedon Resi, Sophia Resi, Elliot @ East Coast. The psf price gap between largest[PH units/large units/units w/ big patios etc..] and smallest damn consistent one almost 900-1k psf. Recession also like that, bull market also like that wdf.. So if you compare smallest vs a mid size, probably the difference will be 300-400psf. If compare their smallest and largest [or large unit] can be up to 6xx to more than 800+psf gap. If Eden resi selling at 3k psf at cityhall, using Guccoland sales tactic, a beri low 2k psf is highly possible provided u dare hoot large + they got land at 1k psf. Also, they have office, hotels and commercial units so they have more free play in terms of psf pricing for their residential units. dream a dreamm...

thank you for sharing your analysis ! taking eg 1500sf x 2200psf = 3.3mil ! :scared-3:

carbuncle

22-11-12, 09:15

looks like office bldg totally

reporter2

09-07-19, 22:51

Billionaire inventor James Dyson bags Singapore's Wallich Residence super penthouse

Grace Leong
Business Correspondent

SINGAPORE - Billionaire inventor Sir James Dyson has quietly acquired the biggest, highest, and possibly the most expensive super penthouse on the Singapore market at the ultra-luxe Wallich Residence.

The price tag is not revealed in documents obtained by The Straits Times, but industry sources valued the Wallich uber penthouse at more than $100 million.

The 72-year-old tycoon's purchase of Singapore's most rarefied piece of non-landed real estate comes just six months after announcing that his technology company, known for its pricey vacuum cleaners, hair dryers and air purifiers, will be moving its headquarters from Britain to Singapore.

A Singapore Land Authority (SLA) title search on Tuesday (July 9) showed that Mr Dyson and his wife, Lady Deirdre Jessie Dyson, both UK citizens, were listed as joint tenants of the 99-year leasehold property at 3 Wallich Street, 62-01. The transaction was registered on June 20.

The Wallich super penthouse, which has been on the market for around 18 months, was "for sale at price on asking/application, but the industry has valued its worth to be above $100 million", said Mr Leong Boon Hoe, chief operating officer of List Sotheby's International Realty, which is one of the luxe property's marketing agencies.

This means that developers are only willing to reveal the price privately to serious buyers, he added.

A Dyson spokesman would only confirm that its founder has bought a property in Singapore. He told The Straits Times on Tuesday: "Given the decision to locate the headquarters in Singapore and the growing focus of the company's business in the region, of course James Dyson has bought a property there."

The 13,300 sq ft super penthouse of Reflections at Keppel Bay features spacious living and entertainment areas and a master-bedroom suite that take up entire wings of each floor.

Developer GuocoLand said that it is not responding to media queries.

So exclusive is the Wallich super penthouse that GuocoLand restricted viewing of the super penthouse to only ultra high net worth investors whom it deemed as serious buyers.

The largest non-landed residence here, it sits atop Singapore's tallest building at Tanjong Pagar Centre at 951 ft (290m) above sea level, offering unobstructed views of the Central Business District, Marina Bay and Sentosa Island.

The five-bedroom "bungalow in the sky" spans more than 21,000 sq feet from the 62nd to 64th floors, and comes with its own swimming pool, cabana, bar jacuzzi, and entertainment areas. It also has a private lift lobby and lift access to the Tanjong Pagar MRT station.

List Sotheby's defines the super penthouse as a penthouse that is 10,000 sq ft (929 sq m) and above. A luxury penthouse is a status symbol because it usually occupies the whole top floor of an apartment block that is located in a prime residential enclave or the heart of downtown.

The most expensive publicly known transaction in the world to date goes to hedge fund billionaire Kenneth Griffin, who blew US$238 million for a super penthouse at 220 Central Park South in New York, United States, in January this year. It is also the most expensive residential sale in US history.

And the most expensive super penthouse currently for sale is the Tour Odéon Tower Sky Penthouse in Monaco with a price tag of US$335 million. Sitting atop the second-tallest building on Europe's Mediterranean coastline, the 35,500 sq ft five-storey penthouse boasts 360-degree views over the sea with an outdoor rooftop circular infinity pool linked to a balcony by a water slide.

In Singapore, the most prestigious residential enclaves are found close to Orchard Road, such as Ardmore Park, Nassim Road, as well as in the financial district.

Including Wallich, a total of eight super penthouses in Singapore have been sold since 2006. June has proven to be a busy month this year, with two uber penthouses sold including Wallich. The other is the 11,098 sq ft super penthouse in Boulevard Vue, which sold for $52 million or $4,686 psf.

Four out of at least nine super penthouses currently on the market worldwide are in Singapore. They are at the Concourse Skyline, The Marq on Paterson, Hilltops and Reflections At Keppel Bay.

reporter2

10-07-19, 08:46

Dyson owner forks out S$73.8m for Singapore's costliest penthouse

Wed, Jul 10, 2019

THE founder of privately-held British consumer electronics maker Dyson and his wife have become the owners of Singapore's most expensive condo.

BT understands that Sir James Dyson and his wife, Deirdre, paid S$73.8 million for the triplex super penthouse at Wallich Residence, which is the Republic's tallest residence.

The unit occupies the top three levels of the 64-storey, 290-metre high tower at Tanjong Pagar Centre developed by GuocoLand.

The price works out to S$3,496 per square foot based on the 21,108 sq ft strata area (including 6,577 sq ft of strata void).

Talk in the market is that the deal was entered into some months ago and completed recently.

Tanjong Pagar Centre, an integrated mixed development that also includes offices, a hotel and retail space, is on a site with 99-year leasehold tenure starting from February 2011; this leaves a balance lease term of about 90.5 years.

Dyson and its billionaire inventor founder, Sir James, were in the spotlight in January after the company announced that it will be moving its corporate headquarters from Malmesbury, Wiltshire in the UK, to Singapore. Sir James, an outspoken Brexiteer, and his wife are Singapore permanent residents.

When contacted by BT on Tuesday, a Dyson spokesperson said: "Given the decision to locate the headquarters in Singapore and the growing focus of the company's business in the region, of course James Dyson has bought a property there."

But he declined to comment further for personal privacy reasons.

The Dysons seem to have gotten a good deal for their Singapore penthouse purchase; the price is a far cry from the S$108 million tag touted for the unit back in July 2017, although the project's developer would probably attribute the estimate to the work of agents creating hype.

Nevertheless, the transaction is the highest in absolute price terms for a penthouse in Singapore, toppling the nearly S$60 million that Facebook cofounder Eduardo Saverin paid for the 10,300 sq ft super penthouse at the freehold Sculptura Ardmore in 2017. The transaction worked out to around S$5,650 psf. That penthouse, on levels 35 and 36, has a cantilevered private pool.

The Wallich Residence super penthouse the Dysons bought also comes with a private pool, pool deck area, cabana, jacuzzi room, entertainment area and a cantilevered balcony with panoramic views including of the Central Business District, Marina Bay and Sentosa. It has a dedicated lift but there is no dedicated carpark lot, according to an earlier media report.

The 181-unit Wallich Residence occupies the top 26 levels of Tanjong Pagar Centre's 64-storey tower; below the apartments are the offices, known as Guoco Tower.

The mixed-use integrated development's second tower, which is 20 storeys, houses the Sofitel Singapore City Centre. Tanjong Pagar Centre also has a retail podium and an urban park.

On the decision to relocate its corporate head office to Singapore, Dyson said in January that this is "to reflect the increasing importance of Asia" to its business.

Dyson chief executive officer Jim Rowan said at the time that the move to Singapore had "nothing to do with Brexit" but was about "future-proofing" the business.

The company, which is well-known for its bagless vacuum cleaners and bladeless fans, said that a growing majority of its customers, as well as all its manufacturing operations, are now in Asia; this shift "has been occurring for some time and will quicken as Dyson brings its electric vehicle to market".

"As a result, an increasing proportion of Dyson's executive team is going to be based in Singapore," said the company, adding that this does not change its investment and recruitment plans.

Dyson's upcoming electric car will be manufactured in Singapore.

The company said the decision to move to Singapore was not made for tax reasons.

Last year, Dyson's profit grew 33 per cent to £1.1 billion (S$1.87 billion), breaking the £1 billion mark for the first time. Turnover was up 28 per cent at £4.4 billion.

New Reporter

22-08-20, 21:19

Wallich Residence 62% sold, 68 units left for sale

GuocoLand has also leased out 10 to 20 units at Wallich Residence, and has achieved high rentals, says group MD

Thu, Aug 20, 2020

Siow Li Sen

https://www.businesstimes.com.sg/sites/default/files/styles/680x453/public/image/2020/08/20/BT_20200820_LSWALLICH20_4208249.jpg
Wallich Residence penthouse on the 60th floor features marble, reflective columns and metal in bronze finishes for a luxe feel.
BT FILE PHOTO

https://www.businesstimes.com.sg/real-estate/wallich-residence-62-sold-68-units-left-for-sale

WALLICH Residence, famed for Singapore's most expensive penthouse, is 62 per cent sold.

That means the 181-unit ultra-luxe project in the Central Business District still has 68 units for sale, said Cheng Hsing Yao, GuocoLand Singapore's group managing director.

Launched in 2017, Wallich Residence houses its residential units on the 39th to 64th floors of Guoco Tower, which sits atop Tanjong Pagar MRT station. On Guoco Tower's lower floors are office, retail and F&B spaces. The office is 99 per cent tenanted.

At 290 metres above sea level, leasehold Guoco Tower is Singapore's tallest building.

Last year, James Dyson, the founder of British consumer electronics maker Dyson, and his wife Deirdre paid S$73.8 million for a triplex penthouse at Wallich Residence. The super penthouse is perched on the top three levels of the 64-storey tower.

Many units have been sold in recent months and a lot of buyers are foreigners, said Mr Cheng in an interview, giving an update on some of the company's residential projects.

The price of a unit at Wallich Residence depends on the floor level of the apartment. The price of units at lower floors can range from S$3,000 to S$3,880 psf (per square foot), while the higher floors ranges from S$3,450 to S$4,240 psf. Penthouses have hit prices close to S$5,000 psf.

The recent buyers are a mix of investors and owner occupiers, unlike the early days when more were bought for investment, he said.

"The foreigners (buying the units), it does not necessarily mean they will be migrating to Singapore. Many have businesses in South-east Asia with Singapore as their base and home," said Mr Cheng. Many now live at home instead of checking into hotels when they are in Singapore, he added.

GuocoLand has also leased out 10 to 20 units at Wallich Residence, and has achieved high rentals, he said.

Rates are S$8 to S$11 per sq ft which is high for residential, and translates to a gross rental yield of about 3 per cent, he said.

The median rent for Core Central Region (CCR, or high-end segment) is S$4.06 psf in the first half of 2020, said Christine Li, Cushman & Wakefield, head of research, Singapore and South-east Asia.

Prime CCR for newer and better quality condos' rent was S$4.97 psf in 1H 2020, she said.

"The occupancy of sold units is not too bad," said Mr Cheng when asked about the significant unlit portions of the upper levels of the building at night which typically reflects on the lack of residents.

Wallich Residence consists of one to four bedroom units, four penthouses, and one super penthouse.

Meanwhile, over in district 9, GuocoLand's 450-unit Martin Modern is 90 per cent sold. Located at the corner of Martin Place & River Valley Close, the leasehold Martin Modern is situated at the lifestyle enclave of Robertson Quay. The project is expected to be ready in June 2022.

New Reporter

22-10-20, 13:04

Dyson sells Singapore luxury penthouse for $62m

https://www.straitstimes.com/sites/default/files/styles/article_pictrure_780x520_/public/articles/2020/10/20/ST_20201020_VNDYSON1_6045937.jpg
British billionaire inventor James Dyson has accepted an offer for his Wallich Residence penthouse (above) in Tanjong Pagar. The founder of electric appliance firm Dyson bought the three-floor property last year for a reported $73.8 million. PHOTO: GUOCOLAND

Oct 20, 2020

https://www.straitstimes.com/business/property/dyson-sells-singapore-luxury-penthouse-for-62m

British billionaire inventor James Dyson is selling his luxurious Singapore penthouse atop the city state's tallest building, his company said yesterday, about a year after buying it for a reported $73.8 million.

Singapore's tallest penthouse, on the top three levels of the 64-storey Guoco Tower in Tanjong Pagar, is nearly $3,000 per sq ft on the strata area of 21,108 sq ft. It comes with its own infinity pool and private lift lobby from the basement carpark, and has panoramic views of the city, including the Marina Bay waterfront area.

The tycoon's purchase of the Wallich Residence penthouse last year - after his electric appliance firm Dyson announced that it was shifting its global headquarters to the city state from England - set a record for Singapore penthouses.

A spokesman told Agence France-Presse that an offer had been accepted for the three-floor residence, which also has a 600-bottle wine cellar and a dedicated butler service.

He did not give details of the sale, but it appears that Mr Dyson has made a hefty loss. The Business Times reported that the property was bought by a businessman in the United States for $62 million.

Despite the sale, the spokesman said: "Dyson remains fully committed to expanding its research and development footprint and other operations in Singapore."

The buyer is Indonesia-born tycoon Leo Koguan, a US citizen and Texas resident. He is co-founder and chairman of IT provider SHI International, BT reported, without citing sources.

The Dysons also bought a bungalow near the Singapore Botanic Gardens last year for $50 million, which they still own.

The company's move to Singapore prompted fury in Britain that the tycoon - a vocal Brexit backer - was not investing more in British manufacturing.

The firm abandoned plans to produce electric cars last year, saying the project was not commercially viable. Its first vehicle plant was to be located in Singapore.

Mr Dyson, who employs 1,200 people here, told The Straits Times in an interview published on Sunday that Singapore and the new HQ at the iconic St James Power Station will be at the centre of his firm's growth plans, which include research, development and the manufacture of new technologies.

AGENCE FRANCE-PRESSE, BLOOMBERG

Bbfa

17-11-21, 15:38

https://www.youtube.com/watch?v=PuTKu72zmb0

New Reporter

17-02-23, 11:18

One-bedroom unit at Wallich Residence for sale at $2.36 mil

February 16, 2023

A one-bedroom unit at Wallich Residence in District 2 will be put up for private treaty sale this month. An owner’s sale, the 646 sq ft unit is priced from $2.36 million, which translates to $3,650 psf.

The unit for sale is on the 46th floor. It has an open layout featuring a kitchen and dining area, a living room, and an en suite bedroom.

Wallich Residence is the upmarket residential component of the integrated Guoco Tower at Wallich Street at Tanjong Pagar. It sits on top of Tanjong Pagar MRT Station on the East-West Line. Guoco Tower comprises 38 floors of Grade-A offices. The 181-unit Wallich Residence spans the 39th to 64th floors of the tower. At 290m, Guoco Tower is considered the tallest skyscraper in Singapore.

The integrated development includes a 20-storey block with the 223-room Sofitel Singapore City Centre luxury hotel, a 100,000 sq ft retail space and a 150,000 sq ft urban park. Designed by Skidmore Owings & Merrill (SOM), the project was completed in 2017 and is a landmark in Tanjong Pagar today.

Prices of units sold in December 2013 — when Wallich Residence previewed averaged $3,064 psf. It was considered a new record for a 99-year leasehold condominium in the CBD back then.

Since the project was completed, it has been hitting new price thresholds. The highest psf achieved was $4,987 psf for a 3,509 sq ft.

The latest transaction at Wallich Residence was the sale of a 1,259 sq ft, two-bedroom unit on the 60th floor. It fetched $5.25 million ($4,169 psf), based on a caveat lodged in December 2022. The most recent one-bedroom unit at Wallich Residence sold by the developer was a 646 sq ft unit on the 49th floor that went for $2.1 million ($3,252 psf) on Dec 29, 2021.

Units at Wallich Residence are also commanding high rental rates. Caveats tabulated by EdgeProp Singapore show that the indicative rental range is between $7.40 and $12.40 psf per month (pm) for the 12-month period from January 2022 to January this year, with the average rent coming in at about $9 psf pm. In general, most landlords at Wallich Residence reap rental yields of about 3.2%.

https://i.imgur.com/zS1hheM.jpg

More at: https://www.edgeprop.sg/property-news/one-bedroom-unit-wallich-residence-sale-236-mil