Wenul to launch Mooi Residences at an average of $2,600 psf

Wenul to launch Mooi Residences at an average of $2,600 psf

By Cecilia Chow

EdgeProp Singapore

July 24, 2020

https://www.edgeprop.sg/property-new...erage-2600-psf

SINGAPORE (EDGEPROP) - Boutique development Mooi Residences, located along Holland Road, opened for private preview over the weekend of July 18–19. The sales gallery is located in a corner shop unit at Crown Centre, fronting Bukit Timah Road.

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Tan: Our development is designed to be exclusive with just 24 units, but still affordable given the Holland Road address. The buyers will also be able to capitalise on the rejuvenation of Holland Village too (Photo: Albert Chua/EdgeProp Singapore)

According to Keev Tan, director of Wenul HL, the developer of the project, there were over 30 appointments, with interested parties being a good mix of singles, young families, retirees and investors.

The 24-unit, five-storey condominium is a redevelopment of two adjacent bungalow sites — 139 and 141 Holland Road — that were purchased in October 2018 for $10.38 million and $10.35 million respectively, according to caveats lodged then. The two bungalows were torn down and the site amalgamated to create a 13,305 sq ft freehold plot for the upcoming condominium.

To cater to both owner occupiers and investors, Mooi Residences has predominantly two- and three-bedroom apartments in the low-rise block. There are also four penthouses, which are a mix of three-bedroom, three-bedroom-study and four-bedroom types. The two-bedroom units range from 592 to 678 sq ft; while three-bedroom units are from 850 to 947 sq ft. The penthouses are sized from 990 sq ft to 1,335 sq ft and come with open-roof terraces.

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Mooi Residences is located along Holland Road, and within a four-minute walk of the Holland Village MRT station (Photo: Albert Chua/EdgeProp Singapore)

All the units come with private lift access, except for the two units on the first level, whose entrances are from their respective private enclosed space. “Our development is designed to be exclusive with just 24 units, but still affordable given the Holland Road address,” says Tan. “The buyers will also be able to capitalise on the rejuvenation of Holland Village.”

The name of the project was derived from the Dutch word mooi, which means beautiful, according to Tan. He intends to launch the project on the weekend of July 25–26. Indicative prices start from $1.52 million for a 592 sq ft, two-bedroom unit; $2.18 million for an 850 sq ft, three-bedder; and up to $3.588 million for the 1,335 sq ft, four-bedroom penthouse. Average price of the project is expected to be around $2,600 psf.

Wenul has appointed OrangeTee as the exclusive marketing agency for Mooi Residences. According to Christine Sun, head of research & consultancy for OrangeTee & Tie, the unit sizes in the project appeal to both investors and owner occupiers. “The two-bedroom units are ideal for rental, especially those that come with two bathrooms, and are also suitable for young couples,” she notes.

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The majority of the units are two- and three-bedroom apartments, with condo facilities such as a 25m swimming pool (Picture: Wenul)

The absolute prices are also “very attractive” compared to other developments in the Holland Road neighbourhood in prime District 10, notes Sun. In addition to its exclusivity, the project is located within a four-minute walk to Holland Village MRT station and a short drive to Orchard Road premium shopping belt and near the top schools in the Bukit Timah area.

Wenul’s Tan adds, “The residential market has been relatively healthy. Even during the circuit breaker there were sales, but the moment the circuit breaker was lifted, there was a surge in sales due to pent-up demand.”