D8 | Citylights (42 x4 floors)

[TropicalSQ744]

This news is kinda old.. It was reported on the 8th last month but I don't think anyone posted it here.

News source: http://www.ir.capitaland.com/Release...leaseID=117982

CapitaLand plans 43-storey condominium for Jellicoe site

CapitaLand has been awarded the Jellicoe site by the Urban Redevelopment Authority. The company plans to build a 43-storey condominium with approximately 500 homes on the site, including 16 art-deco conserved shophouses. The high-rise development will enjoy views of the Kallang Basin and the surrounding city.

CapitaLand President and CEO Mr Liew Mun Leong said: "The Jellicoe site will augment CapitaLand's current residential portfolio profile of mainly prime, freehold sites. Singapore is an important market for us, and we will continue to selectively acquire well-located sites. We are confident that Singapore's economy will recover in 2004, and the residential property market would have stabilised by then."

CapitaLand Residential Deputy CEO of Singapore Operations, Ms Patricia Chia, added: "We plan to build a high-rise condominium on this centrally located site. It will be a distinctive development with views of the Kallang waterfront and the surrounding city. The 16 art-deco conservation shophouses will lend a touch of character. We plan to have the development launch-ready by end 2004."

The 99-year leasehold Jellicoe site is centrally and conveniently located just minutes away from the city, and is near the Lavender MRT station. The 14,595 square metre site has a plot ratio of 4.2 and potential gross floor area of 61,300 square metres.

[huaiwei]

Dun't worry. Even if I have not posted it here yet, it is already in s.com! I am always on the lookout for anything taller then 30 floors!

[RafflesCity]

art-deco shophouses?

YAY!

Kallang needs a refurbishment IMO.

[huaiwei]

Here's more info about the site:



Strategically located at the junction of Lavender Street and Kallang Road, this 1.46 ha site

• allows residents easy access to the Orchard Road shopping belt, Marina Centre area and the Central Business District via major transportation linkages like Victoria Street, the Central Expressway and the Nicoll Highway.
• offers the developer a rare opportunity to integrate a row of unique Art Deco shophouses within his development.
• is just next to the Lavender MRT station.
• is near to the Geylang area where an abundance of culinary delights awaits.
• is close to educational institutions such as Hong Wen School, an established primary school.
• is a short drive away from the National Stadium and Kallang River area; the ideal destinations for sports and recreational activities.

[huaiwei]

There has been some mention that this site will be launched later this year...we shall see

[redstone]

The Jellicoe site has been empty for over a year now.

[huaiwei]

I forgot to mention this, but the Jellicoe site has had a rathe nice boarding for months now. It has several spectacular panoramas of the skylines on it!

[redstone]

Construction had started at Jellicoe!!!

[RafflesCity]

It has?! Tell me what you saw!

Heres an article

CapitaLand plans to launch over 800 homes this year

30 July 2004

By KALPANA RASHIWALA


AFTER keeping a low profile on the residential launch front in Singapore for the first seven months of this year, CapitaLand yesterday said it will launch for sale a total of 800 to 1,000 homes in four projects over the next five months.

They will include Varsity Park, a 530-unit condo on its Clementi warehouse complex site near the National University of Singapore. CapitaLand intends to start selling it in the next two months. Analysts estimate the group will reap a pre-tax profit of about $50 million from the five-storey, 99-year leasehold condo to be booked progressively during the course of developing the project in the next few years.

Earlier this year, CapitaLand obtained approval to convert the 567,000 sq ft site from industrial to residential use.

Sources told BT that CapitaLand plans to price the project attractively, at $450-$480 psf on average, to move the units. Although this is lower than the $500-$520 psf that some property consultants estimated that a 99-year condo in the area could fetch today, analysts say more attractive pricing would probably be necessary considering not only the huge number of units but also the fact that units seem to be pretty large, which would increase the absolute price per unit.

CapitaLand said yesterday that a typical three-bedroom apartment at Varsity Park is about 1,300 sq ft, excluding balconies and terraces. This compares with an average size of 1,250 sq ft for a three-bedder in most condo developments these days, say agents.

UOB Kay Hian Research analyst Tricia Song estimated the project's breakeven cost at $400 psf. Assuming CapitaLand achieves an average price of $465 psf for the project, its pre-tax profit from the project would be slightly over $50 million, she added.

CapitaLand yesterday also reiterated its intention to launch this year a 99-year condo at Jellicoe Road with about 600 units; a freehold condo at Martin Road with about 600 units; and Tanglin Residences, a freehold boutique development in the Nassim area with 43 units. The Martin Road project will be built on the Trademart site and is a joint venture with Hwa Hong Corporation.

[redstone]

Oh, some cranes and a huge metal girder frame in front of the godown and hoarding.

[huaiwei]

It seems like capitaland fears that folks will forget about its jellicoe site or something?

[RafflesCity]

With all the exciting other condos coming up and being marketed aggressively, even I might forget about this but for the fact its 43 floors

[RafflesCity]

I was at Jellicoe Rd recently and the construction has not started. The area is fenced up but inside is a field and an old building. Also the project isnt launched yet but some newspaper reports say it will be launched by years end...

[heirloom]

i went looking today and saw the showflat nearly ready. called up and found out that it will be launched either this month or next. can't wait

[RafflesCity]

you're back in Singapore?

wheres the showflat?!?!?!

got any images of the building????

[heirloom]

got a picture of the showflat, yes i'm back in singapore. will post later

[RafflesCity]

how about a rendition of the building?

the site needs to start digging..it was just a grass field last time I saw...

[heirloom]

no rendition






showflat






one of the views from this apartment

[redstone]

What would the shophouses be used for in the project?

[heirloom]

hrm... i dont think they'll be part of the project.. not sure though. if they are, clubhouse perhaps?