A rendering
http://www.skyscrapercity.com/photopost/data/500/103draycott.jpg

Signboard
http://www.skyscrapercity.com/photopost/data/500/103draycottb.jpg

30 June 2004

http://www.skyscrapercity.com/photopost/data/500/103draycott30.jpg

24 July 2004

http://www.skyscrapercity.com/photopost/data/500/103draycott24.jpg

What's that villa there?! :eek:

I know I've said this a hundred times now:

How come the conserve these small villas but overlooked the grand Eu Villa?!

What's that villa there?! :eek:

I'm not sure, but there are quite a few villas there and along Scotts Rd. Anyway its a good thing theyre conserving it.

Both towers are the same condo?

yah..there are 3 in fact...havent found a better rendering yet but they look funky.

Height very short! :bash:

yah lor..at first I was hoping for something taller..but nevertheless it has not finished growing yet. We'll see ;)

I wish for a 40 storey or even a 50 storey condo at Novena...

look interesting

always nice to have such villas for clubhouses

3 August 2004

http://www.skyscrapercity.com/photopost/data/500/103draycott3.jpg

28 August 2004

http://www.skyscrapercity.com/photopost/data/500/103dray288a.jpg

http://www.skyscrapercity.com/photopost/data/500/103dray288.jpg

2 October 2004

http://img10.exs.cx/img10/1184/draycott210.jpg

The project has not been launched for sale yet. Heres some info from the developer's website

http://www.wingtaiasia.com.sg/property/draycott_eight.html

EXCLUSIVE NEIGHBOURHOOD
The long established elite neighbourhood estates of Claymore and Ardmore surround the proposed development at the Draycott Park site. Located in the heart of the prime residential district of Orchard and Tanglin, this elevated site is a stone's throw away from prestigious clubs like The Tanglin Club and The American Club. As such, this development will appeal to both locals and expatriates with an interest in recreational activities.

CHOICE LOCATION - CLOSE TO WHERE THE ACTION IS

Just a few minutes walk from the Central Business District (CBD), the Draycott Park site is also well served by major roads such as Stevens Road, Scotts Road, Orchard Road and the Central Expressway, providing easy access to the other parts of Singapore.

Type
Condominium


Location
Draycott Drive,
Singapore


Tenure
99-year leasehold


Site area
152,920 sq ft

http://www.wingtaiasia.com.sg/images/property/draycott_park_map1.gif

overview of the site

4 January 2005

http://img26.exs.cx/img26/8448/draycott04013lz.jpg

That roundish condo looks like Block 259 in AMK! :D :cool:

oh yes...its quite old btw:)

RGS can be seen in there too

RGS seemed to out-of-place. Not worth the land value for a school...

15 February 2005

http://img73.exs.cx/img73/7263/draycott15027iw.jpg

http://img98.exs.cx/img98/5607/draycott1502a5ds.jpg

Looks like two burly bodyguards to that mansion!!! :rofl:

They indeed look enormous in their surroundings...:yes:

the bungalow itself is quite big, if you see the previous pic

14 March 2005

one of the towers is being unwrapped

http://img125.exs.cx/img125/144/draycott14030ee.jpg

http://img185.exs.cx/img185/9369/draycott1403a9nz.jpg

13 May 2005

http://tinypic.com/52x65x

nice, I like the yellow!

i cant tell the diff between new HDB and Draycott 8

^
:lol:

well the other side is very different..all white with greenish glass windows

Wing Tai posts 88% profit jump

26 Aug 05

RIDING on the strong recovery in the Hong Kong property market, Wing Tai yesterday posted an 88 per cent jump in full-year group net profit to $27.8 million.

http://business-times.asia1.com.sg/mnt/media/image/launched/2005-08-26/krwing26-221919.jpg
High hopes: Draycott 8 is one of the projects expected to contribute to profits in current fiscal year


The higher earnings were due mainly to substantially higher contributions from associated and joint-venture companies in Hong Kong.

The group also said it will release next quarter its recently completed Draycott 8 condo in Singapore comprising 136 units - two towers of four-bedroom units and one tower of two-bedders.

Wing Tai officials also said yesterday the group's $230 million sale of Park Mall to Suntec Reit is 'proceeding as planned'. BT understands that Suntec's acquisition of Park Mall from Wing Tai is independent of another acquisition which Suntec announced at the same time in late June - of 11 properties from City Developments for $788 million. That deal involves a deferred payment component - a system that has been criticised - and is under review.

The strong overseas showing that Wing Tai reported for the year ended June 30, 2005, came mainly from its associate Winsor Properties and The Waterfront condo above Kowloon MTR station, in which the group has a 30 per cent stake.

In fact, overseas operations (predominantly Hong Kong) accounted for more than 80 per cent of group net profit.

However, going into the future, given that the Singapore market is recovering and the group has made sufficient provisions for its sites here, Singapore can be expected to account for about 40 per cent of net earnings in the current year, said Wing Tai chairman and managing director Cheng Wai Keung.

Among the Singapore projects expected by analysts to contribute strongly to the group's current-year bottomline will be Draycott 8.

'Pricing will be determined a few weeks before launch. We will price it comparable to other new developments in the area,' said Mr Cheng.

Wing Tai bought the choice 99-year leasehold site in Draycott Park at a state tender that closed in early June 1997, on the eve of the Asian financial crisis. Its tender price worked out to $1,103.60 psf, the highest ever paid for 99-year leasehold residential land in Singapore. However, after two rounds of making provisions in FYs 1998, 1999 and 2002, some market watchers reckon the group could have written down the land value to a level that reflects a breakeven cost of below $1,400 psf. Assuming Wing Tai fetches an average price of $1,600 psf for Draycott 8, it should be able to generate a pre-tax profit of at least $67.6 million from the sale.

This is one of four new projects that are expected to contribute to profits in the current financial year that began on July 1. The other three are Vision Crest along Penang Road, Nexus in Bukit Timah, and The Grange. BT reported recently that The Grange, a joint development with MCL Land and AIG, has been selling well in Indonesia at an average price of $1,450 psf.

Wing Tai deputy chairman Edmund Cheng said the Singapore property market sentiment has improved following government's package of property measures. 'The timing is much better than before. The environment, policies are all conducive for people to invest in properties for their own use ... We're seeing more transactions and enquiries. Prices are strong compared to a year ago,' he said.

Wing Tai general manager (finance & corporate services) Tan Hwee Bin said contributions from overseas will come from Winsor Properties as well as the The Waterfront condo. Wing Tai has yet to book any profits from the project's fifth tower, which comprises 164 units of which 70 per cent have been sold.

Its revenue for FY2005 rose 3 per cent to $281.6 million on higher contributions from its retail business.

All 3 towers different design?
Oh, any info about that villa?

no idea, probably a club house?

more info should be released when the project is launched.

$1,550-1,800 per square foot for Draycott 8

11 Nov 05

Units in Wing Tai project sold mostly to foreign buyers


WING Tai has been quietly selling its Draycott 8 condo over the past two weeks to invited buyers, sources say.


Market watchers say prices for the development in the Draycott/Ardmore area have ranged from $1,550 to $1,800 per square foot, for the completed project, which stands on a site with a remaining lease of 91 years.

Several units have been sold, mostly to foreigners. 'Draycott 8 is appealing to those who want a prime condo for immediate occupation. There's nothing nice in the market that you can buy and live in right away,' as one source put it.

BT understands that the developer has been selectively inviting potential buyers to purchase units in the development.

Foreign property funds keen on buying a whole block or stack of apartments have also approached Wing Tai, sources suggest.

The 136-unit project comprises three blocks, each of 24 storeys.

Two blocks have four-bedroom apartments while the third is made up of two-bedders.

So far, Wing Tai has been selling units in two blocks - including only one of the towers with the four-bedroom units.

This gives it the option of selling the third tower en bloc or holding it for investment, say market watchers.

Other developers also continue to take advantage of the current uptick in home buying activity.

Fong Tat Holding is holding the official launch for R66 Apartments this weekend, marking the start of an advertising campaign.

The five-storey with attic freehold project at Rangoon Road near Little India has 34 small office, home office (SoHo) apartments - 15 of which have been sold since the project was previewed two weeks ago - and four shops, which have yet to be released.

The average price of the apartments is $700 psf, according to marketing agent Savills (Singapore).


By KALPANA RASHIWALA

I'd really be grateful if somebody could explain to me how the "micro-climate" works in districts 9 10 11. I mean, I don't understand how you can charge upwards of 1500 psf for Draycott [and 99 leasehold!!] and yet far less for [say] the Killiney area which is as close as or closer than that to Orchard. I understand that the desirability of Orchard itself varies drastically along its length --- but that just deepens the mystery because the top end of Orchard is not particularly desirable anyway -- I'd far rather live within walking distance of Ngee Ann City than a certain shopping centre near the Thai embassy....so what are the rules? And as for walking distance....how often do the people at BLVD walk to Orchard anyway? I've never really understood what is so great about Grange Road either, at least the part near the Tanglin intersection...I guess what I'm saying is that there seems to be no rhyme or reason for the large variations in price, granted that nearness to Orchard is a good thing.

I have no clue myself, but perhaps some parts of Killiney area near Oxley/River Valley are a bit dilapidated? Although in a fantastic location, some parts there just feel shabby compared to the Ardmore/Draycott area. Not sure if LKY's house there helps though.

This condo has made its private sales alreadi. the developer has onli releasing a handful of units for sales. The prices of the unit is WAH>>>>>>>>. i believe they are waiting for some of the projects in the same district to launch than they will compete with them... But to me paying so much for a 99 yrs lease hold project is meaningless.... :eek2:

Must be very rich. :D

Saw from some source, the 269 sqm unit was transacted at about 4.56 million bucks...... Why on earth got such rich people, can introduce to me or not....

Does anyone know how the floorplan of the apartments are like?

I was passing by the condo yesterday and I saw a new signboard with interior showroom pictures and I also saw something quite amazing.

From the entrance driveway, I could see something like a slope fountain decorated with purple lights right at the foreground of the clubhouse. It actually makes the clubhouse look like a pub, it has got to be the most beautiful condominium clubhouse in Singapore.

The colonial style clubhouse is 16,000 sq ft and is the largest in Singapore for a condominium project. It houses a mahjong room, a few billiard rooms, theatre lounge, verandah, an exclusive resident’s wine cellar, cigar terrace and a japanese onsen room.

Wingtai should have operated a clubhouse there instead and charge "exclusive" membership. I heard the condo is going to be launched by June this year.

Anyone keen on taking some nightshots of the place? :)

It's not easy to take night shots, you got to enter the place first of all, and it's not free access ;-)
I think the colonial building used to be the French school, at least that's what the security guard told me last time.

It's not easy to take night shots, you got to enter the place first of all, and it's not free access ;-)
I think the colonial building used to be the French school, at least that's what the security guard told me last time.

You can take it from outside, from behind the guard post because that's where it looks best.

Hi all,

I'm Jacky - Manager for Special Projects from Wing Tai - Anyone or got any Investor interested in Draycott 8. Call me.

HP: 91890129

There is a lot of artwork as well that is placed all around the area of the condo commissioned by mitchi studio.

Wing Tai sells Draycott Eight block

6 May 06

Overseas buyer likely a fund, paid $1,600 psf: sources

WING Tai is understood to have found a buyer for a block at its completed 99-year leasehold condo Draycott Eight for about $1,600 psf, sources have told BT.

http://business-times.asia1.com.sg/mnt/media/image/launched/2006-05-06/BT_3991096_06_05_2006.jpg

Based on this figure, industry watchers estimate the lump sum amount for the transaction should be over $200 million, assuming Wing Tai sold all the units in the block, which is understood to have 46 four-bedroom units. Some of the apartments are said to have been leased out by Wing Tai, which should provide the investor with immediate returns.

The buyer is understood to be an overseas party, most likely a fund, sources suggest.

Draycott Eight, completed last year, is on a site with a remaining lease of 90 years. The 136-unit project in the prime Draycott/Ardmore area has three 24 storey blocks. Two blocks have four-bedroom apartments while the third is made up of two-bedders.

So far, Wing Tai seems to have been selling units in two blocks - including one of the towers with the four-bedroom units. This gives it the option of selling the third tower en bloc or holding it for investment, according to market watchers. According to caveats captured by SISV Services' REALink 21 database, 10 units in the development have been sold so far at prices ranging from $1,561 psf to $1,756 psf. Wing Tai began selling the project late last year. The four bedroom units in the project are 2,896 sq ft each.

Market watchers described the $1,600 psf that Wing Tai is said to have achieved for the entire block's sale as a good price and noted that the divestment releases resources that Wing Tai can then use to reinvest in the property market. The group has been scouting for residential development sites.

Yesterday, the company said in an announcement to the Singapore Exchange that it it has agreed to buy Newton Meadows for $73 million, confirming BT's report earlier this week. This works out to about $666 psf of potential gross floor area inclusive of development charges. Jones Lang LaSalle brokered the deal.

Other prime residential development sites the group has bought over the past year include Belle Vue at Oxley Walk, bought for $227.3 million or about $666 psf per plot ratio (psf ppr), and Phoenix Mansion in Cairnhill Road for $57.9 million or $716 psf ppr.

By KALPANA RASHIWALA

Draycott 8 sold at up to $1,850 psf

Over 70 units in the 136-unit condo have been sold since November

27 Jul 06

WING Tai Holdings has sold 70-plus units at its Draycott 8 condo at prices ranging from $1,600 to $1,850 per square foot since it began previewing the development in November last year.

http://business-times.asiaone.com/mnt/media/image/launched/2006-07-27/BT_4503236_26_07_2006.jpg

The listed property group now plans to officially launch the leasehold development - marked by the start of an advertising campaign - in late August, at a higher expected price range of $1,700 to $2,000 psf.

As well, the group has started to sell two-bedroom units in the condo, located in the prime Draycott Park area.

Wing Tai began selling the project in November when landscaping work was completed.

The project received its Temporary Occupation Permit in July last year

The 136-unit condo stands on a site with a remaining lease of about 90 years of the original lease of 99 years.

The development comprises three blocks of 24 storeys each.

Two of the blocks each have 44 four-bedroom apartments and two penthouses while the third tower comprises 20 two-bedroom units and 24 two-bedders with lofts.

Wing Tai told BT earlier this week that about half of the 70-odd units sold so far were snapped up by a US fund. The price is understood to be around $1,600 psf.

The company said the rest were bought by individuals from the United Kingdom, Australia, Denmark, France, Russia, Japan, Hong Kong, Taiwan, Indonesia, Malaysia and Singapore.

Wing Tai deputy chairman Edmund Cheng, pleased with the consistent take-up since the preview, attributes this to the development's prime location, high quality and exclusive services, including a spectacular clubhouse said to be the biggest for a condo here, plus concierge services for residents.

Mr Cheng also believes that Draycott 8 has benefited from the ongoing collective sales of both freehold and leasehold properties in the neighbourhood in several ways.

First, it provides immediate replacement units to occupants of collective sale properties. And from the viewpoint of those investing in Draycott 8, the entry price level is lower compared with a freehold property, resulting in a higher yield on rental income.

Also, investors can eventually look to a collective sale of the estate as a strategic exit option, given the growing phenomenon of en bloc sales involving leasehold properties.

'These factors, coupled with the changing mindset of buyers towards leasehold properties, bode well for Draycott 8,' Mr Cheng said.

The Draycott 8 site has a remaining tenure of 90 years because Wing Tai had to hold back the project after it bought the plot for a record price at a state tender that closed in early June 1997 - on the eve of the Asian financial crisis.

Wing Tai paid $1,103.60 psf per plot ratio - the highest amount ever for 99-year leasehold residential land in Singapore.

BT reported in August last year that market watchers reckon Wing Tai could have written down the site's land value to a level that reflects a breakeven cost of below $1,400 psf, after making provisions in financial years 1998, 1999 and 2002.

By KALPANA RASHIWALA

http://img.photobucket.com/albums/v427/rotpics03/draycott8.jpg

Amazing design! :cool:

That house in foreground looks so tacky... :lol:

Can anyone tell me why Draycott8 can command $1,700-$2,000psf prices with 90 years lease remaining, notwithstanding the fact that the developer had bought it at a high cost before the financial crisis hit, as stated in the above article…?

No. :-)

The area is nice, but not that nice. It is close to Orchard, but other cheaper freehold places are as near or nearer. I guess it's the old story: there are always people who think that something must be good if it's expensive.

Can anyone tell me why Draycott8 can command $1,700-$2,000psf prices with 90 years lease remaining, notwithstanding the fact that the developer had bought it at a high cost before the financial crisis hit, as stated in the above article…?


yeah very ex unless freehold !!

well... i guess if Orchard Residence, also a 99-year, can fetch $4,080psf... Draycott8 is less then half of it...

well... i guess if Orchard Residence, also a 99-year, can fetch $4,080psf... Draycott8 is less then half of it...

Draycott 8 looks reasonably priced now. The layouts are interesting too. Is Wingtai still selling or have all the units been sold?

Draycott 8 looks reasonably priced now. The layouts are interesting too. Is Wingtai still selling or have all the units been sold?

still have units.

Hi all,

I'm Jacky - Manager for Special Projects from Wing Tai - Anyone or got any Investor interested in Draycott 8. Call me.

HP: 91890129

You are the manager from wing tai then you should know how much is the launch price for the Helios.:lol: :lol:

Draycott 8 looks reasonably priced now. The layouts are interesting too. Is Wingtai still selling or have all the units been sold?

very good rental yields....currently can fetch close to $8psf....should justify $2100-2400 psf (4-4.5% yields for 99 yr LH)....would expect up to $2700 psf if it was a FH project as it has some of the nicest facilities in one of the best locations in SGP...

Hi,

Does anybody have photos of the Draycott Tower & the original Ardmore Park
apartments?
The Draycott condominum has a main block which is 34 storeys high and it was completed in 1980.
Similarly, the original Ardmore Park was also completed around that period. Unfortunately, it was torn down in the mid 90's to make way for the current Admore Park condominums. It's octogonal shaped windows remind me of the "eyes" of pineapples and we always referred it as the pineapple blocks.

Thanks

http://img.photobucket.com/albums/v427/rotpics03/draycott8.jpg

One block looks like a HDB... ...Luckily the other block saved it. Great contrast of the two blocks! Love the clubhouse most : 18, 000 sqft of recreational space! Who's the architect for the project?

cheers

excelsvr