Piccadilly Grand sells 77% of units
SINGAPORE (THE BUSINESS TIMES) – Piccadilly Grand, a joint private undertaking by City Developments Limited (CDL) and MCL Land, has sold 315 out of 407 units – or 77% of units – at an average selling value (ASP) of $2,150 per square foot (psf).
The advancement is one of the principal significant private undertakings to launch since the Government reported new property cooling measures in Dec 2021.
Every one of the 315 purchasers was first-time purchaser, CDL said.
About 90% of the purchasers are Singaporeans, while the excess is long-lasting inhabitants and outsiders from nations including China, India, and Malaysia, CDL and MCL Land said in a joint statement on Sunday (May 8) evening.
Located on Northumberland Road, the 99-year leasehold improvement has 3 23-story towers. It likewise has a 1,500 sq m retail and space for food and refreshment (F&B), Piccadilly Galleria, and a 500 sq m childcare community on the ground floor. The advancement is connected to Farrer Park MRT station.
The undertaking’s ASP of $2,150 psf addresses another cost benchmark for the Farrer Park (District 8) region.
Lofts are evaluated from $1.06 million for a 1-room unit to $1.35 million for 2-room, $1.79 million for 3-room, $2.74 million for 4-room double key units, and more than $3 million for a 1,582 sq ft 5-room unit. Unit sizes range from 484 sq ft for a 1-room to 1,679 sq ft for a 5-room premium with a private lift. The 1, 2 and 3-room units were the most well known over the launch weekend.
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The advancement denotes the principal collaboration among CDL and MCL Land.
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The strong take-up focuses on purchasers’ confidence in Singapore’s economic and private property market viewpoint, said MCL Land CEO Tan Wee Hsien.
CDL bunch CEO Sherman Kwek said the “colossally certain” response to the task is a “strong confirmation” to the joined aptitude of both CDL and MCL Land.
Portions of CDL had shut at $8.06 last Friday, down 1.6 percent, before the launch weekend.
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