Freehold Developments in Spottiswoode and Tanjong Pagar Area
Looks like Spottiswoode Residences was the last freehold launch in this area? Been a while since then. Now there is another new freehold launch coming up, the Sky Everton condo. On the site of the former Asia Gardens. Land cost was $1,700 PSF, so breakeven cost for Sky Everton could be about $2,200 to $2,300 PSF. Which means that the selling price is anybody's guess. Certainly makes the price of Spottiswoode look cheap. In fact, at $2,000 PSF, Spottiswoode Residences was a steal, in today's terms! But hindsight is certainly perfect. Now if only we had known then what we know now...
Anyway the advantage of this new project is that it is within walking distance, like about 8 minutes walk from Outram MRT station and from the SGH medical complex. And there is Spottiswoode Park next door, so until that piece of greenery gets sold to build another high rise, the south facing units at Sky Everton should be able to get sea views, especially since the port has already started moving to Tuas, and should be fully done by the time that the Sky Everton condo is built. The Sky Everton showflat preview could be around June, so not many details at the moment yet. However, the final go-ahead from the authorities is still pending, and perhaps the developer may push to July, since June is the school holiday period and a lot of families are away on vacation then.
Re: Freehold Developments in Spottiswoode and Tanjong Pagar Area
Quote:
Originally Posted by
Wimsey
Looks like Spottiswoode Residences was the last freehold launch in this area? Been a while since then. Now there is another new freehold launch coming up, the Sky Everton condo. On the site of the former Asia Gardens. Land cost was $1,700 PSF, so breakeven cost for
Sky Everton could be about $2,200 to $2,300 PSF. Which means that the selling price is anybody's guess. Certainly makes the price of Spottiswoode look cheap. In fact, at $2,000 PSF, Spottiswoode Residences was a steal, in today's terms! But hindsight is certainly perfect. Now if only we had known then what we know now...
Anyway the advantage of this new project is that it is within walking distance, like about 8 minutes walk from Outram MRT station and from the SGH medical complex. And there is Spottiswoode Park next door, so until that piece of greenery gets sold to build another high rise, the south facing units at Sky Everton should be able to get sea views, especially since the port has already started moving to Tuas, and should be fully done by the time that the Sky Everton condo is built. The
Sky Everton showflat preview could be around June, so not many details at the moment yet. However, the final go-ahead from the authorities is still pending, and perhaps the developer may push to July, since June is the school holiday period and a lot of families are away on vacation then.
Another thing about this project, or any others around this area for that matter, is the upside potential from the upcoming Greater Southern Waterfront.
