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Thread: SC Global unveils luxury project at Ardmore Park

  1. #1
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    Default SC Global unveils luxury project at Ardmore Park

    http://www.businesstimes.com.sg/arch...t-ardmore-park

    Published April 18, 2012

    SC Global unveils luxury project at Ardmore Park

    36-storey freehold tower will have 35 spacious apartments

    By michelle tan


    Sculptura Ardmore: The exclusive development will have two sky terraces located on the 6th and 17th floors that are furnished with a private clubhouse, entertainment areas, a gymnasium, sky gardens and jacuzzis

    SC GLOBAL Developments has unveiled its plans to develop its latest luxury project, the Sculptura Ardmore, on the highest point of the exclusive Ardmore Park neighbourhood.

    The 36-storey freehold tower located at 8 Ardmore Park will offer 35 apartments ranging from 2,800 square feet to 11,000 sq ft, built on a one-acre site with a gross floor area of 140,000 sq ft.

    The smaller units, which comprise 19 apartments ranging from 2,800 sq ft to 3,000 sq ft, will take up the 5th storey up to the 16th storey. Another 12 units have areas varying from 3,200 sq ft to 4,000 sq ft.

    The more generous sized units are single-floor apartments with private lap pools. The smallest is a four-bedder of around 4,200 sq ft, while the largest is a super penthouse boasting a staggering 11,000 sq ft.

    Said Simon Cheong, chairman and CEO of SC Global Developments: "We realise what a truly unique opportunity we have with this highly coveted site in this most exclusive of neighbourhoods.

    "With this rare opportunity on hand, we have spared no expense in this development that will be our most expensive project to construct to date. We have brought forth a culmination of all our experience, knowledge and innovation in the luxury market over the past 12 years to pour into this truly original and visionary project."

    All 35 units will have their living spaces facing the greenery at Draycott Park, with the bedroom wings orientated towards the view at Ardmore Park or Claymore Road (in the direction of Orchard Road).

    The luxury development - which is designed by SC Global and architects CZ Design Studio from New York and DP Architects from Singapore - will also have two sky terraces located on the 6th and 17th floors that are furnished with a private clubhouse, entertainment areas, a gymnasium, sky gardens and jacuzzis.

    Estimating the expected launch prices for the one-of-a-kind project to start from at least $5,000 psf, Ku Swee Yong, chief executive of International Property Advisor, said: "I believe SC Global will create a product that will surpass what they have done in terms of quality so far, and at this point, the kind of investors who will be interested in such a project would tend to be those from ultra high net worth families where cost is not the primary issue, but liveability is."

    So far, there has been no indicative pricing released for the project, and the expected launch date is still being decided upon, the developer said.

  2. #2
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    Default Ardmore Park project design set to 'wow'

    http://www.straitstimes.com/Money/St...ry_789976.html

    Ardmore Park project design set to 'wow'

    No launch date yet but units likely to fetch upwards of $5,000 psf

    Published on Apr 18, 2012



    WHY SCULPTURA ARDMORE WILL STAND OUT

    The facade, made of glass, curves slightly.

    There are 'glass fins', which can slide across the apartments to shield them from the sun.

    Four units will have private lap pools that extend out from the building to give the effect of swimming in the clouds.

    -- PHOTO: SC GLOBAL DEVELOPMENTS


    By Lee Su Shyan, Money Editor

    HIGH-END developer SC Global has unveiled the design for its Ardmore Park project.

    The condominium will be called Sculptura Ardmore and erected at No. 8 Ardmore Park, one of the priciest addresses in Singapore.

    The firm bought the 0.4ha site in 2007 through a collective sale.

    SC Global released design details yesterday but did not reveal the launch date, although given the current lacklustre state of the luxury market, consultants say it is unlikely to be any time soon.

    The development will be 36 storeys high, with only 35 apartments. They range from 2,800 sq ft to a super-penthouse of 11,000 sq ft.

    Consultants expect prices to start from $5,000 per sq ft (psf). That could price the super-penthouse at around $60 million.

    Chairman and chief executive Simon Cheong told The Straits Times: 'The brief to the designer is more important than having a brand-name architect. We are not building a monument, we are building a luxury living space.'

    The facade, made of glass, curves slightly. There are also what are called glass fins that can slide across the apartments for shade. Four units will have private lap pools that extend out from the building to give the effect of swimming in the clouds.

    The building is designed by the New York-based CZ Design Studio and DP Architects in Singapore.

    Mr Cheong added: 'We wanted to do justice to Ardmore Park. We want the owners' guests to come in and say 'Wow'.'

    Property consultant Ku Swee Yong, chief executive of International Property Advisor (IPA), said: 'Given the quality of the finishes, facilities and interiors that (have) made SC Global famous, I think it will be upwards of $5,000 psf.'

    There have been few property transactions in Singapore that have gone past the $5,000 psf level.

    Last year, three units at SC Global's The Marq set a series of benchmark psf prices. One unit went for $5,842 psf, one for $6,394 psf, with another selling at nearly $6,850 psf. That works out to nearly $20.5 million for the 3,003 sq ft home.

    Mr Ku added that Sculptura Ardmore will likely stand out in the Ardmore/Claymore neighbourhood 'as the building design is a departure from the boring straight lines and white walls of this street'.

    But with prices likely in the tens of millions of dollars, high-end buyers might opt for a good-class bungalow instead, although Mr Cheong disagrees, maintaining that an apartment and a bungalow cater to different buyers.

    An apartment offers height and views, while the maintenance charges may also be higher for a bungalow.

    Although the additional buyer's stamp duty (ABSD) of 10 per cent has hit foreigner purchases, Mr Ku said: 'Investors at the ultra-high net worth category put product over price.'

    Mr Cheong also tried to downplay the impact of the stamp duty: 'People at the high end, they won't buy unless it's the right project. They will absorb the ABSD at the end of the day.'

    He also expects many of the buyers to be locals who have travelled extensively.

    Mr Cheong admitted that the project cost will be expensive, and 'managing a public company, I am conscious of telling that to my shareholders, but they know that they will see increased shareholder value'.

    SC Global shares ended half a cent higher at $1.035 yesterday.

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  3. #3
    Junior

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    This Ku Swee Yong is again talking up the "luxury market" - I guess to justify his prediction that Paterson road properties should be $7000psf.

    SC Global should have no problem finding 35 PRC govt officials keen to wash their money to buy this bah.

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