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Thread: The Lumiere (D2, 99 year leasehold, BS Capital)

  1. #6
    come on! Guest

    Default Re: The Lumiere (D2, 99 year leasehold, BS Capital)

    At Ardmore II, you get genteel neighbours and civilised, sophisticated surroundings.

    At Tanjong Pagar, you get aunties and uncles, rush hour, receptionists, secretaries, people passing out flyers, Informatics, executives working at International Plaza which is one of the lowest class office buildings on Shenton Way.

    Come on, even YOU can tell the difference.


  2. #7
    actually Guest

    Default Re: The Lumiere (D2, 99 year leasehold, BS Capital)

    I don't think Lumiere is undervalued at this price. In fact, I think it is a little expensive. The views here will probably be of the other buildings around and at best, great views ofthe Keppel shipyard and PSA port.


  3. #8
    Join Date
    May 2006
    Posts
    8,129

    Default Re: The Lumiere (D2, 99 year leasehold, BS Capital)

    Thanks Ryan for starting this great thread! Looks like many are interested in The Lumiere, for obvious reasons. And i think this is the updated rendering of The Lumiere, as published in the Business Times. Here you go:


    Property
    Published December 19, 2006

    BS Capital launches Lumiere preview
    Market watchers expect prices to match CityDev's One Shenton


    By KALPANA RASHIWALA


    FOLLOWING the weekend sale of all but 15 of the 175 freehold condos at The Sixth Avenue Residences developed by Keppel Land and Singapore Land, BS Capital yesterday opened the showflat for its Lumiere development off Shenton Way.



    Lumiere: The 45-storey development will comprise 168 residential units and four street-level shops or restaurants


    BS Capital chief executive Chin Teck Chuan said yesterday that sales are likely to begin this week, but pricing has not been finalised. Prices at The Sixth Avenue Residences averaged about $1,000 per square foot (psf).

    Some agents who brought their clients to the showflat at Mistri Road yesterday were overheard saying that prices in the 99-year leasehold project could be in excess of $1,500 psf.

    Lumiere's pricing is also expected to be pegged to that for City Developments' One Shenton apartments as both projects are expected to compete for a similar pool of buyers, market watchers say.

    Some agents are touting One Shenton for preview this week, but there is no official word so far from CityDev.

    BS Capital is developing Lumiere on the HMC Building site it bought last year. The 45-storey development will comprise 168 residential units and four street-level shops or restaurants.

    Lumiere's sole penthouse will be around 5,100 sq ft. The rest of the apartments will be smallish units - studios, one-bedroom (plus study) apartments, and two-bedders.

    Market watchers think that given Lumiere's smallish units, the absolute investment will be relatively small - which suggests that speculators might make a beeline for the project when BS Capital begins sales.

    This will be especially the case following spillover demand from those who missed out on buying Marina Bay Residences last week.

    Over at Sixth Avenue, Keppel Land and SingLand began selling their five storey project, The Sixth Avenue Residences, on Friday last week.

    The project is being marketed by CB Richard Ellis and DTZ Debenham Tie Leung. The condo will be developed on the Avenue Park site that Keppel Land bought in April 1997.

    In November 2001, Keppel Land wrote down the site's value to $366 psf per plot ratio (ppr) as part of a $455 million writedown of its landbank.

    In March this year, SingLand took a 48 per cent interest in the property for $53.8 million, or $463 psf ppr. The stake had been formerly held by ComfortDelGro, which said at the time it had sold its stake to Keppel Land for $54.9 million. The March deal valued the 172,820 sq ft freehold site at $112 million, or $463 psf ppr.


  4. #9
    Join Date
    May 2006
    Posts
    8,129

    Default Re: The Lumiere (D2, 99 year leasehold, BS Capital)

    Jan 9, 2007

    Developer raises prices by 17% for Lumiere



    RIDING THE BOOM: BS Capital is now offering 45 units of the Soho-styled 168-unit Lumiere, which is in Mistri Road near Tanjong Pagar MRT station, at $1,550 psf to $2,100 psf.


    BS CAPITAL has hiked prices at its city-living condo Lumiere by 17 per cent following the success of nearby One Shenton and Marina Bay Residences.

    It is offering 45 units of Lumiere at $1,550 per sq ft (psf) to $2,100 psf, although the 168-unit condo is located some distance from Marina Bay, Singapore's reigning property hotspot.

    Prices at the Soho-styled Lumiere, which is in Mistri Road near Tanjong Pagar MRT station, are above the $1,450 psf to $1,800 psf range achieved for 75 units sold at a soft launch before Christmas. BS Capital is keeping the remaining 48 units for investment.

    Marina Bay, site of one of the integrated resorts, has become the most desirable area in town after buyers chased up the price of Marina Bay Residences to over $3,400 psf.

    This set a record for private homes here.

    That has fuelled more sub-sale interest at The Sail @ Marina Bay and energised demand for One Shenton, which is almost sold out after a frenzied weekend of sales.

    City Developments (CDL) said One Shenton achieved a price of close to $2,700 psf.

    CDL only launched the 341-unit condo last Friday, when sales were initially made to whole-floor buyers.

    By last Saturday, CDL said the condo was more than 95 per cent sold with prices of $1,500 psf to $2,200 psf.

    'Singapore's inner-city living lifestyle is evolving,' said BS Capital's chief executive, Mr Chin Teck Chuan.

    Prices have climbed and are seen rising further, he said. 'The feel-good factor will come in when work starts on the two integrated resorts,' he said. 'I still think there is some room for prices to move from here.'

    BS Capital, he added, will be focusing on high-end and inner-city living projects.

    JOYCE TEO


  5. #10
    Unregistered Guest

    Default Re: The Lumiere (D2, 99 year leasehold, BS Capital)

    Location: Mistri Road (District 2)
    Tenure: 99 years leasehold
    Site area: about 15,000 sqft
    Project description: 45-storey block with 6 1/2-storey podium carpark, commercial on 1st storey recreational facilities on the 8th floor and sky garden on the 34th floor
    TOP: 31 Dec 2011
    Residential units: 168
    *Studio ~ 506 to 560 sqft
    *1 BR + study ~ 624 to 775 sqft
    *2 BR ~ 969 to 1238 sqft
    Price: from $1500psf


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