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Thread: The Boulevard Residences (BLVD) (D10, Freehold, SC Global)

  1. #6
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    Default Penthouse may go for $5K psf

    Published April 18, 2007

    Penthouse may go for $5K psf


    MAINBOARD-listed SC Global Developments is selling a penthouse in The Boulevard Residence (BLVD) by auction next month. Colliers International, one of the two auctioneers for the property, expects the 7,029 square foot unit to fetch about $35 million or almost $5,000 per square foot.

    Market watchers note this is more than double the $16 million an identical penthouse in the freehold development's other tower was sold for in May last year to high-flying Japanese fund manager Yoshiaki Murakami, who was later indicted for insider trading.

    Both penthouses occupy the top three levels of the 36-storey development, which was completed in 2005.

    Colliers auctioneer Grace Ng said the $5,000 psf price expectation for the 'super penthouse' is based on the surge in luxury home prices and high-floor units at the nearby 99-year leasehold Orchard Residences having already fetched over $4,000 psf.

    'As well, currently, this is the only new penthouse unit in a move-in condition in the location, being offered by its developer. And it boasts 360-degree views,' she said of the BLVD unit on offer. The unit comes with an 11-metre private lap pool and an open rooftop terrace.

    The auction for the penthouse will be conducted on May 20 jointly by Colliers and Christie's Great Estates exclusive affiliate Ken Jacobs.

    BLVD comprises 46 units housed in two towers.


  2. #7
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    Default BLVD penthouse may be auctioned for $5,000 psf

    April 18, 2007

    BLVD penthouse may be auctioned for $5,000 psf

    HOW high can home prices go?


    The answer may be $35 million for the last 'super-penthouse' at SC Global's Boulevard Residence (BLVD), which will be sold at an invitation-only auction next month.

    That is what auctioneer Colliers International thinks the 7,029 sq ft freehold unit at Cuscaden Walk can fetch.

    The price works out to be almost $5,000 per sq ft (psf), well above the record of more than $4,000 psf reportedly fetched for a penthouse at Orchard Residences in Orchard Turn, which was a 99-year leasehold unit.

    The BLVD auction on May 20 will be conducted by Colliers together with Christie's Great Estates exclusive affiliate Ken Jacobs - the same team that auctioned off 12 Botanika units last month.

    Colliers' deputy managing director and auctioneer, Ms Grace Ng, expects 'strong international interest'. 'This is a rare super-penthouse and it's freehold with its own private swimming pool, unlike many of the new developments,' she said.

    The unit, at the top of the 36-storey condominium, is also 'the only new penthouse in Orchard that is completed and in move-in condition', added Ms Ng.

    BLVD's other 'super-penthouse' was sold for $16 million, or $2,276 psf, last May. The highest unit price achieved for a BLVD apartment so far is $3,205 psf.

    FIONA CHAN


  3. #8
    joe
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    Default AUCTION OF SUPER PENTHOUSE AT THE BOULEVARD RESIDENCE

    (Co. Registration No: 197702459K)

    Auction of Super Penthouse at The Boulevard Residence

    We refer to the press release dated 17 April 2007 which stated that the last of the only two super penthouse units at The Boulevard Residence will be sold via an auction conducted jointly by Christie's Great Estates exclusive affiliate Ken Jacobs and Colliers International on 20th May 2007.

    In light of the strengthening market, the Group has decided to postpone the auction to a later date, which shall be announced in due course.

    BY ORDER OF THE BOARD
    SC GLOBAL DEVELOPMENTS LTD

    Fong Keng Chee
    Company Secretary
    15 May 2007


    SC Global Developments Ltd
    47 Scotts Road #18-01 Goldbell Towers Singapore 228233 Tel: 6734 9119 Fax: 6235 5115 www.scglobal.com.sg
    (Co. Registration No: 197702459K)


  4. #9
    beavis
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    Default Re: AUCTION OF SUPER PENTHOUSE AT THE BOULEVARD RESIDENCE

    Quote Originally Posted by joe
    (Co. Registration No: 197702459K)

    Auction of Super Penthouse at The Boulevard Residence

    We refer to the press release dated 17 April 2007 which stated that the last of the only two super penthouse units at The Boulevard Residence will be sold via an auction conducted jointly by Christie's Great Estates exclusive affiliate Ken Jacobs and Colliers International on 20th May 2007.

    In light of the strengthening market, the Group has decided to postpone the auction to a later date, which shall be announced in due course.

    BY ORDER OF THE BOARD
    SC GLOBAL DEVELOPMENTS LTD

    Fong Keng Chee
    Company Secretary
    15 May 2007


    SC Global Developments Ltd
    47 Scotts Road #18-01 Goldbell Towers Singapore 228233 Tel: 6734 9119 Fax: 6235 5115 www.scglobal.com.sg
    (Co. Registration No: 197702459K)


    "In the light of strengthening market"??? Still Wonder this if this could be the real reason why they postpone?
    $5000 is a good bargain already and decided to postpone??


  5. #10
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    Default

    http://www.businesstimes.com.sg/sub/...13540,00.html?

    Published October 12, 2010

    SC Global sells Cuscaden Walk penthouse for $30m

    The price is almost double that for an identical unit sold in 2006

    By KALPANA RASHIWALA


    (SINGAPORE) There seems to be a bit more buzz at the high-end condo market again.


    The Boulevard Residence: 'This is the ultra luxury residential sector we're talking about, where buyers won't be affected by ups and downs in the property market,' says Mr Ow

    SC Global is understood to have sold a penthouse at The Boulevard Residence recently for $30 million or $4,242 per square foot. In both absolute quantum and unit price terms, this is the highest achieved in the development.

    The latest transaction involves a 7,072 sq ft triplex unit with five bedrooms and an 11-metre lap pool. Sources suggest that the buyer is from China but intends to live here.

    It was the final unit to have been sold by the developer in the freehold condo at Cuscaden Walk which has 46 units. The 36-storey project was completed in 2005.

    The unit is one of two identical 'super penthouses' in the development. SC Global sold the first such penthouse back in 2006 for $16 million to Yoshiaki Murakami, a Japanese fund manager who was in the limelight a few years ago for an insider trading prosecution in Japan.

    That was the highest transaction in absolute price quantum in the development, prior to the latest deal. In unit price terms, too, the $4,242 psf achieved for the most recent transaction is the highest at The Boulevard Residence, surpassing the $3,933 psf that a three-bedroom standard apartment of 2,034 sq ft sold for in late 2007.

    Another top-end condo deal recently took place at The Orchard Residences, where a 40-plus storey unit sold for $4,260 psf. The total price for the 1,808 sq ft unit, which has three bedrooms, was about $7.7 million. It was sold by the developer of the project, which is expected to receive Temporary Occupation Permit this month.

    Property agents also highlighted another record of sorts that was set for a penthouse at The Ardmore Park condominium in July. The 8,740 sq ft unit sold for $30 million or $3,432 psf. Prior to this, the most expensive penthouse in the development was $20.5 million or $2,345 psf in 2007, the peak year for the Singapore luxury housing market.

    The buyer in the latest deal is understood to be a Hongkonger, who is also a Singapore permanent resident. According to caveat records, the unit previously changed hands in December 2006 for $17.3 million, reaping the seller a cool profit. The seller is said to be a company controlled by Yunus Gafulbhai Bilakhiya. A person bearing almost the same name but with the family name spelt slightly differently, as Bilakhia, founded the Bilakhia Group of India, which is involved in the inks, agro chemicals, medical devices, education and investment businesses.

    While it remains to be seen if these deals will mark a definitive return of interest in the luxury condo sector which was dominated by foreigners in the 2007 boom, Knight Frank managing director (residential services) Peter Ow says: 'This is the ultra luxury residential sector we're talking about, where buyers won't be affected by ups and downs in the property market. Singapore has opened up a lot in recent years and we're drawing foreigners keen to park their monies as well as live here.'

    While the ultra luxury condo market may be starting to see a revival in activity, the price benchmarks achieved recently appear to be still slightly short of the records set earlier. In terms of absolute price quantum, the title is still held by an 8,051 sq ft unit at Boulevard Vue at Cuscaden Walk which was sold in November last year for $33.4 million.

    In unit price terms, the record price was $5,600 psf for a 53rd level penthouse at The Orchard Residences sold by the developer in October 2007, although its buyer, who is said to have picked up the unit on the deferred payment scheme, has yet to lodge a caveat.


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