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Four Seasons Park at $2,748 psf

By Tay Hock Meng / The Edge Property | November 13, 2015 10:00 AM MYT

Four Seasons Park condo may be 21 years old, yet it is able to achieve the same price levels as newly completed luxury condos in the vicinity of Cuscaden Walk, Angullia Park and Tomlinson Road, located just off Orchard Boulevard. Last month, a 3,821 sq ft, six-bedroom unit on the 24th level of one of the three blocks was sold for $10.5million ($2,748 psf). That same unit fetched $6.8 million ($1,780 psf) in a sub-sale in 1995.



Two six-bedroom units on the 24th floor of two adjacent towers at Four Seasons Park sold four months
apart fetched identical prices of $10.5 million





In May, another six-bedroom unit of identical size with the same floor and unit number in a neighbouring block had also changed hands for $10.5 million, according to a caveat lodged then. Chandran VR, managing director of boutique real estate agency Cosmopolitan Real Estate, who was managing its tenancy on behalf of the previous owner, says the unit has a “premium view” of Orchard Road, the city skyline and, on a clear day, all the way to the Johor Straits.

As the previous owner had spent more than $1 million renovating and upgrading the unit three years ago, the original asking price was $13 million, adds Chandran. Nonetheless, at $10.5 million, the sale translated into a 69.4% capital upside for the previous owner, who had bought the unit for $6.2 million ($1,623 psf) 10 years ago. The seller is believed to be a foreigner.

Four Seasons Park contains 202 units in three 26-storey blocks sitting on a land area of 299,775 sq ft. Before Ardmore Park Condo was launched in 1996, Four Seasons Park was the standard-bearer for luxury condos. The project was developed by listed property group Hotel Properties Ltd, controlled by Singaporean tycoon Ong Beng Seng. It was launched in the early 1990s and completed in 1994. Even in 1995, units were sold at prices in the range of $1,600 to $1,700 psf.

Four Seasons Park is located across the road from Four Seasons Hotel, which is also owned by HPL. In fact, Four Seasons Park was the first hotel-branded residence in Singapore when it was launched. This was prior to the entry of a new generation of hotel-branded residences such as the 173-unit St Regis Residences (completed in 2008) and the 58-unit Ritz-Carlton Residences on Cairnhill Road (completed in 2013).


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