Wheelock Properties will be unveiling its first 99-year suburban condo project in Singapore in nearly two decades. Located in Ang Mo Kio Avenue 2, The Panorama's showflat will open with sales bookings expected to begin approximately a fortnight later.
The Panorama yields 698 units housed in six blocks, with two 20-storey blocks and four 17-storey blocks that come with two levels of basement car parks. In addition, a three-level clubhouse will be built within the development. A good number of units is expected to enjoy panoramic views of Lower Peirce Reservoir as the area in-between is low rise and comprises landed homes in the Thomson Hills area and the Sembawang Hills estate.
Offering a range of unit types, The Panorama consists of 13% of one-bedroom apartments, 28% of bedders, 45% of three-bedders, 10% of four-bedders, 3% of five-bedders, and finally 1% of penthouses. Sizes vary from 430 sq ft for a single-bedroom unit to 2,400 sq ft for the penthouses.
According to Wheelock, they clinched the site at a state tender a year ago. Its winning bid of $550 million works out to nearly $790 per square foot per plot ratio (psf ppr). Located close to CHIJ St Nicholas Girls' School, the project will be near the future Mayflower MRT Station on the Thomson Line that is expected to be operational around 2020. As such, Tan Bee Kim, senior executive director of Wheelock Properties Singapore, said that this is a much coveted site as the tender attracted bids from 12 developers. The potential to attract owner occupied buyers as well as investors is high as the location is excellent.
While the developer declined to reveal prices, market watchers suggest realistic pricing to be around $1,350-1,400 psf on average for Wheelock to move units. Hence, a one-bedroom apartment of about 430 sq ft on the ground floor could cost under $700,000 to more than $3 million for a five-bedroom penthouse of around 2,400 sq ft boasting magnificent views of Lower Peirce Reserviour.
There are a number of premium schools catering to different education levels nearby - St Nicholas Girls' School, Anderson Junior College, Nanyang Polytechnic, James Cook University and Australian International School. The project will also bear a number of premium quality features with the living and dining rooms of all units fitted with marble flooring and kitchens fitted with Miele appliances.
MKPL Architects has optimised and enhanced the undulating terrain of the 198,942 sq ft site with a thoughtful design to connect residents with nature. As a result, landscape architect Sitetectonix has earmarked a large central open space that offers greenery and grounds for facilities. A 247-metre-long panoramic trail walk among trees will be built across this central open space. Besides 96,000 sq ft of landscaped garden at ground level, there will be another 10,000 sq ft of rooftop greenery.
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