Weekend Sales Update: THE GREENWICH, TERRENE & THE SCALA

As reported in the ST today:

THE GREENWICH
Another 94 units of this 319-unit project were sold following the start of a private preview on Aug 2, when it moved 80 units. It has sold 174 homes in total, with the average price achieved rising to $1,025psf from $980psf last Monday.

Nearly half of the units sold have been one-bedroom units of 603sqft to 721sqft, priced from $657,000 to $850,000.

Far East said it was on course to launch the project early next month.

TERRENE @BUKIT TIMAH
The 172-unit TERRENE sold its remaining unit last Saturday. 
(* After our visit to the sales gallery late last month, the wife and I did say that this project is likely to be sold out within 1 – 2 months. This has actually happened sooner than we have envisaged)

THE SCALA
Hong Leong Holdings said it sold 35 units of its 468-unit THE SCALA over the long weekend, leaving fewer than 15 units left.

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En-bloc news: Charlesville & Naung Court

Two freehold residential sites at Paya Lebar and Hougang are up for tender, as reported in BT today.

Charlesville

16 owners of this 5-storey, 18-unit development at Upper Paya Lebar Road have agreed to put their development out for sale. The asking price is around $31 million.

The site is 34,160sqft and has a plot ratio of 1.4. Charlesville’s existing gross floor area (GFA) is about 42,000sqft, but a developer can build a new project with a GFA of up to 52,600sqft, including an additional 10% of space allocated for balconies.

A development charge of about $2.9 million will be payable. The tender for Charlesville closes on Aug 18.

Hutton is handling the tender for Charlesville.

Naung Court

The 4-storey 20-unit Naung Court at Jalan Naung is also up for sale. Jones Lang La-Salle is handling the tender, and the indicative price is $28-30 million. This works out to between $650 and $700 per square foot per plot ratio.

The 32,689sqft site has a gross plot ratio of 1.4 and can accommodate a 5-storey project. The winning developer can build a project with a GFA of up to 45,764sqft, subject to payment of a development charge of around $2.7 million.

Naung Court is within walking distance of Hougang MRT station, Hougang bus interchange and Hougang Mall.

The tender closes on Sep 14.
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