http://www.businesstimes.com.sg/sub/...84740,00.html?

Published January 13, 2012

Three-quarters of Far East's The Hillier sold


FAR East Organisation's The Hillier project in Hillview Avenue has sold 309 units out of the 411 that have been released so far.

In a sales update last night, the developer also revealed that over 90 per cent of the project's buyers are Singaporeans and permanent residents, with the majority already residing in the Hillview and Upper Bukit Timah areas.

Units were sold at an average of $1,200 per square foot (psf). The 99-year- leasehold development is a mixed-use project, with 528 Soho-styled apartments integrated with a retail podium called HillV2.

Far East Organization has confirmed that Cold Storage will be setting up its seventh Market Place outlet there, becoming the third to sign on after New York lifestyle brand Dean & Deluca and premium confectioners Cold Stone Creamery. Market Place will take up about 8,600 square feet (sq ft) of space at HillV2.

'We recognise that the move to introduce our brands to such trans-urban areas provides many business opportunities,' said Cold Storage Supermarkets CEO Victor Chia.

'In the case of Hillview, we have a Cold storage outlet at The Rail Mall and so it made sense for us to complement this with a slightly differentiated offering.'

There are 33 retail units at the two-storey, 55,500 sq ft HillV2. The size of the retail units ranges from 311 sq ft to 8,887 sq ft.

Food and beverage will account for more than 60 per cent of the retail mix. HillV2 is estimated to be completed by the end of next year.