Directly Linked to Queenstown MRT
Project brief QUEENS PEAK
|PROJECT :||Queens Peak|
|ADDRESS :||Dundee Road, Queenstown|
|TYPE :||Highrise Condominium|
|# OF UNITS :||736 Units|
|TENURE :||L99yrs wef 28 Sep 2015|
|ELIGIBILITY :||All Nationalities|
|T.O.P DATE :||31 Dec 2020|
|LAND SIZE :||approx 113,194 sq ft|
|DEVELOPER :||MCC Land, HY Realty|
|ARCHITECT :||AGA Architects|
|UNIT MIX :||1br / 2br / 3br / 4br / 5br / PH|
More about Queens Peak
Located opposite Queenstown MRT, Queens Peak is located along Dundee Road, in the mature Queenstown satellite town. Queens Peak, which will be launched soon, has 736 luxurious units, comprising 2 tower blocks and ranging from 1 to 5 bedroom sizes and large single level penthouse units with private pools.
Its design is driven by organic architecture where harmony is promoted between the abode and the natural environment. For example, at each alternate level, the gardens extend from the respective lift lobby, serving as communal sky gardens. They also serve as a social space to foster communal living in the sky. Residents will enjoy facilities at the ground level, 7th storey as well as 27th storey sky gardens. Within the curvilinear façade lies rectilinear spaces to ensure excellent space planning.
Queens Peak is a direct link on the East West train to Changi Airport as well as the Future High Speed Rail to Malaysia. This suits the lifestyle of the well-heeled who crave inner city living. Queens Peak embodies the confluence of style and smart location. The locale is a zip to the CBD and the premier Orchard Road shopping belt, Great World City and Dempsey Hill. Interesting hawker centres and quaint outlets are found in its neighbourhood such as Mei Ling Street, Alexandra Village Food Centre, and ABC Brickworks Market and the hip Tiong Bahru and Holland Village precincts.
SINGAPORE — While interest for a Dundee Road private housing site has paled in comparison to the hotly-contested site in Toa Payoh days earlier, analysts said the top bid in the latest tender reflects the developer’s confidence in the Queenstown area.
At the close of tender yesterday, the 99-year leasehold site received nine bids, with the top bid of S$483.2 million put in by Chinese developer Hao Yuan’s unit HY Realty, the Housing and Development Board said.
The 113,194 sq ft site, released from the Confirmed List of the Government Land Sales (GLS) programme, has a plot ratio of 4.9. With a maximum gross floor area of 554,652 sq ft, it can yield an estimated 645 dwelling units. The top bid works out to around S$871 per square foot per plot ratio (psfppr).
Property analysts noted that the HY Realty’s bid was 8.4 per cent higher than the second-highest bid of S$445.9 million, or around S$804 psfppr, from Allgreen Properties.
“With a winning margin of more than 8 per cent, the bid demonstrates the confidence in the mature estate of Queenstown with its network of amenities and the MRT being located right next to the site, as well as the stability of the Singapore market,” said Mr Desmond Sim, Singapore and South-east Asia head of property firm CBRE Research.
Dr Chua Yang Liang, head of research for South-east Asia at real estate firm JLL, noted that HY Realty had not been successful in its previous attempts to secure sites under the GLS — a factor that could explain its aggressive bid.
He added that the top bid could translate into a selling price of between S$1,550 and S$1,600 psf, assuming a construction cost of S$320 psf to S$360 psf.
“This could be priced to sell, especially since the average take-up rate of the nearby projects around Queenstown and Redhill have been about 20 to 60 per cent with an average price for new sales ranging between S$1,680 psf and S$1,750 psf,” he said.
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