UOL launching freehold Katong Regency

[reporter2]

http://www.businesstimes.com.sg/arch...katong-regency

Published April 17, 2012

UOL launching freehold Katong Regency

All 244 units in 3 residential towers to be released; average prices range from $1,450 psf to $1,700 psf

By lim wei sheng


Katong Regency: Comprises 126 one or one-plus-study bedrooms (549-581 sq ft), 58 two or two-plus-study bedrooms (936-990 sq ft), 36 three or three-plus-study bedrooms (1,389-1,464 sq ft), 18 one-bedroom sky suites (840 sq ft) and six three-bedroom penthouses (1,959 sq ft)

- UOL

KATONG Regency, a freehold residential project by UOL Group, will be launched this Thursday, with all 244 units being released.

Situated on the former Lion City Hotel and Hollywood Theatre sites along Tanjong Katong Road, the project comprises three residential towers located above a three-storey retail mall called One KM.

The project is targeted at upper and middle-income level buyers, said Kam Tin Seah, senior general manager, investment & strategic development, UOL Group Ltd, adding that about 80 per cent of the units are one or two-bedders.

Said Mr Kam: "Rarely do we find a freehold site that is so near to the city centre and yet so strategic in location for families and businesses ... we hope to be the catalyst to rejuvenate the Tanjong Katong enclave like ... in the past with Tiong Bahru and Novena."

Katong Regency comprises 126 one or one-plus-study bedrooms (between 549 and 581 sq ft), 58 two or two-plus-study bedrooms (between 936 and 990 sq ft), 36 three or three-plus-study bedrooms (between 1,389 and 1,464 sq ft), 18 one-bedroom sky suites (840 sq ft) and six three-bedroom penthouses (1,959 sq ft).

Prices for one-bedders average $1,700 psf, while two and three-bedders average $1,450 psf based on the pricing values of $950,000, $1.38 million and $2.05 million for one, two and three-bedders, respectively.

Said Mr Kam: "We foresee a core demand for this district ... one aspect being parents, especially those staying around the district, buying (the units) for their children ... similar to what is happening in places like Serangoon Gardens."

The residential project is likely to have a TOP date in the first half of 2014, and open concurrently with the mall, which will house lifestyle, edutainment and gastronomy retail options.

Mr Kam also noted the proximity of the development to key employment nodes as a pull factor.

Paya Lebar Central is slated for development into a commercial hub under the 2008 URA Master Plan. There is also Paya Lebar Square, a $1 billion development that houses 430,000 square feet of office space and is slated to be ready by mid-2014. The area will also host a Continuing Education and Training skills upgrading hub in 2013.

[reporter2]

http://www.straitstimes.com/Money/St...ry_789517.html

Katong Regency pricey but likely to draw buyers

Rejuvenation of Paya Lebar area could be a major selling point for mixed-use project

Published on Apr 17, 2012


More than half of the residences at Katong Regency are one-bedroom and one-plus-study units. It will cost an average of $1,500 to $1,600 per sq ft. -- ST PHOTO: DESMOND WEE

By Amanda Tan

A MIXED-USE freehold project to be launched in Paya Lebar on Thursday is expected to get a good response despite a hefty price tag, property consultants said.

Residential units at Katong Regency, which sits on the former Lion City Hotel and Hollywood Theatre sites, will cost an average of $1,500 to $1,600 per sq ft (psf), a price experts said is 'on the high side'.

Still, the take-up rate for the 244-unit UOL Group project could be 'quite good', said Mr Nicholas Mak, head of research at SLP International Property Consultancy.

'The area is fairly middle-class... there will be a catchment of residents here who have the means to buy this project.'

More than half of the residences at Katong Regency are one-bedroom and one-plus-study units. Prices for a 550 sq ft one-bedroom unit start at about $950,000 and go up to over $2.5 million for a 1,970 sq ft three-bedroom penthouse.

A major selling point could be the upcoming rejuvenation of the Paya Lebar area, consultants said.

R'ST Research director Ong Kah Seng said: 'The area is considered promising... and will be a major business hub in years to come.' He estimated that monthly rental for one-bedroom units could reach $3,000, especially if there are 'visible signs of the spillover effect from the rejuvenation of Paya Lebar' by the time the project is completed in 2014.

UOL Group could be banking on similar interest to that shown for the recently launched Sky Habitat, believed to be the priciest suburban condo in the market.

The 99-year Bishan project has average prices ranging from $1,747 psf for a one-bedder to $1,642 psf for a four-bedder. Still, over 70 per cent of units that were released were sold in the first weekend of its launch.

Mr Mak said: 'I won't surprised if people would be willing to pay (for Katong Regency). It's a bit on the high side but... this one is freehold, and there's a mall.'

A new mall, One KM, will be built on the lower levels below the flats.

Mr Kam Tin Seah, senior general manager of UOL Group, said yesterday that the mall, with a net lettable area of 210,000 sq ft, will follow a similar concept seen in United Square, but will focus more on performing arts education.

United Square, known for its myriad of enrichment centres and lifestyle retailers, is also developed by UOL.

One KM, which has signed Cold Storage as an anchor tenant, will have over 150 tenants. UOL said 'serious retailers' have shown interest for about half of the available units.

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[House]

fully sold!!!!

news from this afternoon

[buttercarp]

fully sold!!!!

news from this afternoon

Wow.....as in all units sold?

[latour]

fully sold!!!!

news from this afternoon

Waw... fantastic. Where will be the next hot project like this one be?

[DKSG]

Yes! Last Sunday I went, left 5 units.

How to NOT fully sold ? WooHoo !!!

DKSG