SOHO SouthBank

Posted by lushhomeonline on July 20, 2007

HOME buyers who want public transport close at hand should think about making tracks to new developments going up near the Lavender and Newton MRT stations.

Developer UOL Group is replacing Eng Cheong Tower at the junction of Crawford Street and North Bridge Road with a project that includes residential units and small office home office (Soho) spaces.

Called Southbank, the 99-year leasehold project near Lavender MRT station comprises a 40-storey tower with 197 residential units and a 20-storey block of 60 Soho units. There are also three penthouses of up to 4,155 sq ft.

It is being launched for sale on Saturday at an average price of $600 per sq ft (psf) for residential units and $750 psf for Soho units.

UOL sold 20 residential units during a preview for staff and business associates on Monday.

The target market is single, young professionals and working couples, as well as retirees as the units - one or three bedrooms - are relatively small at between 592 sq ft and 1,313 sq ft.

The target market is quite different for the high-end Orchard Scotts project near Newton MRT station, which Far East Organization will start selling next month.

But unlike a typical condo, buyers at the 99-year leasehold project will be able to enjoy the sort of luxurious hotel-style services Far East provides at its service apartments in the same project.

And like the service apartment residents, buyers will have access to a butler, a concierge and housekeeping services, for example.

They can also use the two dining rooms with kitchens for private parties.

Orchard Scotts, designed by the architectural firm Arguitectonica, has 180 residential units for sale from $1,400 psf.

They range in size from 1,500 sq ft to 4,000 sq ft and are in two blocks - one of 76 units and one of 104. The first 50 units go on sale on July 8. A third block offers 205 service apartments for lease.

About 75 per cent of the project’s 263,000 sq ft grounds is devoted to landscape and recreational facilities, including four swimming pools and a basketball court, said Far East’s chief operating officer of property sales, Mr Chia Boon Kuah.

Orchard Scotts was reportedly to have been launched as early as 1998 and then in late 2002 or early 2003.

Some units have been sold to foreign buyers, including those from Hong Kong, Indonesia, Malaysia, China, India and Russia.

Orchard Scotts was marketed in Hong Kong and Jakarta several months ago and is likely to be promoted overseas again, including in China, India and Malaysia.

Source : Business Times - 22 Jun 2006