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Old October 16th, 2005, 04:18 AM   #1
ZZOOzzoo
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D9 | Cairnhill Crest, The Laurels, Urban Resort, Urban Suites

Does anyone know about this project, Cairnhill Crest? It's right across the street from The Light @ Cairnhill.

There's nothing spectacular about architecture, but its club house and facilities look quite impressive, especially considering that it's right at the heart of the city.

2, 3+1 study, 4 rooms plus penthouses are available according to Singapore Expat. I think the it's priced slightly lower than The Light @ Cairnhill, but I'm not too certain.

It seems almost completed. I wonder when the construction's going to end...


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Old October 17th, 2005, 07:40 AM   #2
Pengui
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Pretty big project it seems.
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Old October 17th, 2005, 11:24 AM   #3
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Yeah, I actually heard that this project has the biggest size of land in Cairnhill area.

Last time I checked, they seem to have changed few things design-wise.

1) They changed balcony material from steel to glass.
2) It's been completely repainted to white color. (It was brown+green combination)

White concrete building with glass balcony... Maybe they got some inspiration from Grange Residences? @_@

I still don't see how it's priced almost same as The Light@Cairnhill though except that they are in the same location. I thought other factors such as architecture would play bigger role.
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Old October 17th, 2005, 12:33 PM   #4
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If you're speaking about the look of the building, I suppose it's not easy to market an appartment at a higher price than competitors for the reason that it looks better from outside ;-) Unless you're going for something really iconic like the Sail. Even then, I think people are buying the prime location rather than the exterior design...

I suppose there are some exceptions: if we take an office building, I suppose Emirates and embassies would not have settled at Parkview Square if it was just Yet Another Office Building ;-) I can't think of any condominium like that, except maybe those faux Beaux Arts towers planned in Buenos Aires... But they are not even under construction now, so their success is not guaranteed.
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Old October 17th, 2005, 02:02 PM   #5
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uh, this looks worse than i think almost all developments today. its like hdb style.
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Old October 19th, 2005, 12:40 AM   #6
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The project doesnt seem to be selling well so far?

I dunno but it seems complete and yet 'closed' up.
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Old October 19th, 2005, 02:24 AM   #7
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more info:

HK developers show their flair at S'pore launches

19 Oct 05

Cheung Kong, Wheelock making a splash this weekend

By ARTHUR SIM

(SINGAPORE) Hong Kongers do it with style.

While local property developers pussyfoot around their coming launches, two of Hong Kong's players, Cheung Kong Holdings and Wheelock Properties (linked to Hong Kong-based Wheelock & Company), will be launching their high-end developments this weekend at some of the year's highest prices.

Cheung Kong is officially launching the freehold 248-unit Cairnhill Crest at prices that will range between $1,369 and $2,148 per square foot (psf), and this is excluding the penthouses. There will also be a special 'investment plan', where the developer pays the monthly mortgage for three years if the buyer agrees to delegate full authority on all leasing issues within that period.

Some will recognise this as essentially a cross between a guaranteed rental plan and a buy-and-leaseback scheme, with deferred payment thrown in. Yet, packaged by these savvy Hong Kongers, it looks so much better.

Buyers pay a 10 per cent deposit and the next 10 per cent is deferred for a year. The developer pays everything for the first three years including property tax, maintenance and of course, the mortgage. Buyers even get to keep any surplus in rents.

Cheung Kong senior sales manager Francis Wong was adamant that this was not a guaranteed rental plan. 'In those plans, developers usually calculate the risk and price it into the property. With our investment plan, we are using market prices. The benefit of a completed project like ours is that it has a rental value and we are confident about the rental yield and returns,' he added. Cheung Kong says a conservative monthly rental return for Cairnhill Crest is $5.50 psf.

The developer hopes to move 100 units by year-end, so sales of Cairnhill Crest this weekend will be a crucial litmus test for Cheung Kong. Only 70 units have been sold so far despite having had soft launches and private previews since late-2003.


Of course, if this was a Wheelock development, the owners would not even be worried. The upmarket developer is well known for its luxury high-end products like Ardmore Park and Grange Residences.

For the official launch of the freehold 228-unit The Cosmopolitan in River Valley, Wheelock CEO David Lawrence said the company was 'not in a hurry to sell', and will be launching only about 50 units at around $1,220 psf. 'Our target is to sell 50 per cent of the development first, then reassess the price, perhaps, raising it by 5 to 8 per cent later,' he added.



The Cosmopolitan will be launched without a showflat too, because Wheelock is 'under no pressure to sell'. 'All we want to do is produce sexy, desirable homes. We don't think about pricing,' he adds. Wheelock has already sold about 50 units through private previews.

This snobbish appeal is what makes some buyers 'collect' Wheelock properties and Mr Lawrence reveals that they have quite 'a following' who have bought into projects like Ardmore Park and Grange Residences. The only reason Wheelock is even launching at this time is that their regulars have made repeated requests. 'There is no panic to sell,' he reiterated.

Interestingly, the CEO also says that the majority of their buyers are local investors, 'not speculators'. Taking pains to differentiate their buyers from the riff-raff, he says: 'Our investors are people who have made money on the stock market and are now looking to put it into real assets. It's not speculation. It's investment - it's just a different asset class.'

Wheelock's next project will likely be the redevelopment of Habitat II, for which it paid a record price of $103.9 million. This site will be amalgamated with Ardmore View bought in 1999 to produce a new 110-unit luxury development.
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Old October 19th, 2005, 10:36 AM   #8
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Quote:
Originally Posted by RafflesCity

Wheelock's next project will likely be the redevelopment of Habitat II, for which it paid a record price of $103.9 million. This site will be amalgamated with Ardmore View bought in 1999 to produce a new 110-unit luxury development.
So they will demolish Habitat II ? Hmmm that's a bit sad, it's quite a cool building... Although nothing extraordinary :-)
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Old October 19th, 2005, 01:41 PM   #9
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yah...developers are ruthless if they can build more units...better get more pics of that 'unique' building before its gone ;-)
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Old February 2nd, 2007, 09:16 AM   #10
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hi,
i have not posted much but have been lapping up all the juicy info and expert discussions that have been going on lately. many thanks for sharing all the info, interesting views and wonderful pics.

my hubby and i decided to take the plunge last year and we got ourselves a 1733sf mid-floor unit in the ugly looking cairnhill crest for slightly above 1500psf. i do believe we are sitting on some paper profits right now, but i have a pretty strong gut feel that the prices will continue to inch, and in some cases, gallop upwards. currently, our plans are to hold on to the unit till some time in 2008 before deciding whether to offload it and take the profits. in the event the tide should turn against us, i guess it's boo-hoo-hoo and just hold onto it.

i was wondering if members here can share your views as to how the upcoming and recently launched projects (esp in the orchard area) will affect prices in my vested development. merci beaucoup!

btw, thought i'd share with you the view from the unit (not exactly the best of views, given that it's not a high-floor unit):
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Old February 2nd, 2007, 09:27 AM   #11
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oops... can someone advise how i can make the image bigger? i'm using imageshack. thanks!
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Old February 2nd, 2007, 09:48 AM   #12
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Use the following (replace *** by IMG )
[***]http://img362.imageshack.us/img362/1905/dsc0061tn7.jpg[/***]


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Old February 2nd, 2007, 01:29 PM   #13
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nice unobstructed view of the city skyline, and the conservation shophouses means nothing tall can be built there
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Old February 2nd, 2007, 02:33 PM   #14
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What's on the site now?
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Old February 2nd, 2007, 11:01 PM   #15
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thanks, wees.
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Old February 2nd, 2007, 11:09 PM   #16
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Quote:
Originally Posted by RafflesCity View Post
nice unobstructed view of the city skyline, and the conservation shophouses means nothing tall can be built there
many of those are actually terrace houses while some are conserved shophouses (like you mentioned). i hope they stay that way. not sure if i can see fireworks from here? i have only been up once during the night and the view was really nice with all the lights of the office towers on... too bad no pics were taken then

redstone,
the pic's taken from a unit in cairnhill crest. this project is already completed. this devt is pretty hdb-like but the view i get from this place helps make up for its ugly structure
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Old February 3rd, 2007, 05:23 AM   #17
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I think it may be possible to see the fireworks at the bay from there, judging from the angle...thats just my guess!
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Old February 3rd, 2007, 07:47 AM   #18
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duckweed, thanks for the photo update.

Much appreciated as I personally place a high weightage on unobstructed view (compared to say,good food or convenience amenities). And in an area like Cairnhill, unless you own an unit or is an agent, such shots are "exclusive" and appreciated (because I can't simply go up to a nearby HDB and imagine how it hows like )

To many folks here who either own or have access to some exclusive units/development, commoners like me will be thankful if you can share with us a glimpse of your world from your room/balcony via photo posts. Thanks.
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Old February 3rd, 2007, 10:18 AM   #19
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Personally, I believe Carnhill area is over-rated.

1. Bad traffic jam - unless you prefer to walk up and downhill to/from Orchard Road (even taxi driver told me they don't take booking for Carnhill Crest)
2. View - U can get even better view in River Valley or Newton or even Thomson
3. The value is driven by Indonesian who travel here. Close to Orchard Road and Mt Elizabeth Hospital for their medical checkup

You shall see those older apartments around Carnhill area, at least 30% indonesian, sometimes the units are occupied by their children who are studying in Singapore.
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Old February 3rd, 2007, 03:57 PM   #20
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Quote:
Originally Posted by okanenotatsujin View Post
Personally, I believe Carnhill area is over-rated.

1. Bad traffic jam - unless you prefer to walk up and downhill to/from Orchard Road (even taxi driver told me they don't take booking for Carnhill Crest)
2. View - U can get even better view in River Valley or Newton or even Thomson
3. The value is driven by Indonesian who travel here. Close to Orchard Road and Mt Elizabeth Hospital for their medical checkup

You shall see those older apartments around Carnhill area, at least 30% indonesian, sometimes the units are occupied by their children who are studying in Singapore.
Hi okanenotatsujin,

How much psf do you think the apartments (e.g. Cairnhill Crest, Cairnhill Residences, Capitaland's "Silver Tower") in Cairnhill should be worth?

IMHO, if one stays at Cairnhill Crest, there's no need to drive to Orchard Road. There's a shortcut from the back via Hullet Road.

SI
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