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07-01-14, 14:37
http://www.straitstimes.com/archive/sunday/premium/news/story/packed-showflat-first-retirement-resort-20140105
Packed showflat at first retirement resort
The Hillford boasts a 24-hour concierge, full-time manager, restaurants and clinics
Published on Jan 05, 2014
By Jonathan Kwok
Hundreds of people yesterday thronged the showflat of The Hillford, the first development here being sold as a "retirement resort".
The project in Jalan Jurong Kechil, which offers 281 residential units, has a leasehold of only 60 years compared with the usual 99 for other private developments.
It will have a 24-hour concierge service, a full-time resort manager, and commercial units such as restaurants and clinics.
For ease of movement, corridors will be wider and each block will have two lifts. Toilets in the units will have buttons for emergency calls to the concierge.
The indicative prices for the development by World Class Land start from $388,000 for a 398 sq ft one-bedroom unit, $498,000 for a 506 sq ft two-bedder, and $648,000 for a 657 sq ft two-bedroom dual-key unit.
That means that prices of units start at around $980 per sq ft (psf).
"As this is the first development of its kind in Singapore, there is no pricing benchmark for any comparison to be made," said World Class Land in a statement.
In terms of size, many units will fit into the "Mickey Mouse" or "shoebox" category - which typically refers to units of 500 sq ft or less.
Visitors yesterday ranged from those in their 40s - mostly looking to buy and rent out - to those over 70 years old exploring the possibility of living there.
"I'm here as I'm curious; the units are small and it's easier to tidy up," said a 70-year-old retiree who wanted to be known as Madam Tan. "Being older, it's good if I don't have to do so much housework."
A retiree in her 60s , who wanted to be known as Mrs Tham, liked how there were shops and medical facilities. "Everything is within the compound, it's much more convenient for people who are not very mobile," she said.
One possible investor was Mr Mike Liew, a 44-year-old information technology consultant. The prices are in the range that he is looking at, and Mr Liew added that he could possibly rent out the unit.
But he was concerned over the shorter leasehold, which could impact whether he would be able to sell in future.
There were concerns from others about the conservancy and maintenance charges, given the need to pay for the concierge service and facilities.
But Mr Jack Chua, chief executive of ERA Realty, which is helping to market the project, said the charges "are estimated to be on a par with conservancy charges of other private developments of this scale".
He added that there "are sufficient economies of scale, given the total of approximately 300 units".
Several visitors said they hoped for more elder-friendly features.
A researcher in her 50s who wanted to be known as Ms Alice pointed out that the toilets do not come with grab-bars and there may not be space or enough features in the units for people in wheelchairs.
While the showflat opened yesterday, units will go on the market in about two weeks' time. The Temporary Occupation Permit date is expected to be in November 2017.
The Urban Redevelopment Authority had earlier said that the site for the project was released with special conditions "to facilitate the development of a private retirement housing product".
Also previewing yesterday was The Panorama at Ang Mo Kio, a 99-year leasehold project by Wheelock Properties. The Sunday Times understands that the units could go for between $1,400 and $1,600 psf.
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Packed showflat at first retirement resort
The Hillford boasts a 24-hour concierge, full-time manager, restaurants and clinics
Published on Jan 05, 2014
By Jonathan Kwok
Hundreds of people yesterday thronged the showflat of The Hillford, the first development here being sold as a "retirement resort".
The project in Jalan Jurong Kechil, which offers 281 residential units, has a leasehold of only 60 years compared with the usual 99 for other private developments.
It will have a 24-hour concierge service, a full-time resort manager, and commercial units such as restaurants and clinics.
For ease of movement, corridors will be wider and each block will have two lifts. Toilets in the units will have buttons for emergency calls to the concierge.
The indicative prices for the development by World Class Land start from $388,000 for a 398 sq ft one-bedroom unit, $498,000 for a 506 sq ft two-bedder, and $648,000 for a 657 sq ft two-bedroom dual-key unit.
That means that prices of units start at around $980 per sq ft (psf).
"As this is the first development of its kind in Singapore, there is no pricing benchmark for any comparison to be made," said World Class Land in a statement.
In terms of size, many units will fit into the "Mickey Mouse" or "shoebox" category - which typically refers to units of 500 sq ft or less.
Visitors yesterday ranged from those in their 40s - mostly looking to buy and rent out - to those over 70 years old exploring the possibility of living there.
"I'm here as I'm curious; the units are small and it's easier to tidy up," said a 70-year-old retiree who wanted to be known as Madam Tan. "Being older, it's good if I don't have to do so much housework."
A retiree in her 60s , who wanted to be known as Mrs Tham, liked how there were shops and medical facilities. "Everything is within the compound, it's much more convenient for people who are not very mobile," she said.
One possible investor was Mr Mike Liew, a 44-year-old information technology consultant. The prices are in the range that he is looking at, and Mr Liew added that he could possibly rent out the unit.
But he was concerned over the shorter leasehold, which could impact whether he would be able to sell in future.
There were concerns from others about the conservancy and maintenance charges, given the need to pay for the concierge service and facilities.
But Mr Jack Chua, chief executive of ERA Realty, which is helping to market the project, said the charges "are estimated to be on a par with conservancy charges of other private developments of this scale".
He added that there "are sufficient economies of scale, given the total of approximately 300 units".
Several visitors said they hoped for more elder-friendly features.
A researcher in her 50s who wanted to be known as Ms Alice pointed out that the toilets do not come with grab-bars and there may not be space or enough features in the units for people in wheelchairs.
While the showflat opened yesterday, units will go on the market in about two weeks' time. The Temporary Occupation Permit date is expected to be in November 2017.
The Urban Redevelopment Authority had earlier said that the site for the project was released with special conditions "to facilitate the development of a private retirement housing product".
Also previewing yesterday was The Panorama at Ang Mo Kio, a 99-year leasehold project by Wheelock Properties. The Sunday Times understands that the units could go for between $1,400 and $1,600 psf.
[email protected]