All units of The Parc Condominium sold within 2 weeks
23 August 2007
Savills Singapore is proud to announce that all 659 units of The Parc Condominium, worth approximately S$800 million, have been sold within two weeks.
Michael Ng, Managing Director of Savills Singapore, said: “The average price per unit was transacted at around S$880 per sq ft, up from an initial price of around S$820 per sq ft. While some of the choicest high-floor units were sold for up to S$1,040 per sq ft”.
“The sales were done purely based on private invites only without a single advertisement. We noticed that the bulk of the buyers were mainly locals which include young families and older people looking for retirement homes or homes for their children. Foreigners including those from Hong Kong and Indonesia made up less than 20 per cent of the buyers,” said Mr Ng.
The Parc Condominium is made up of seven 24-storey blocks of condominium. This exclusive development has a total of 659 apartments, out of which, 638 apartments are one-, two-, three-, four- and five-bedroom units. The size of each unit ranges from approximately 667 sq ft for a 1-bedroom plus study to approximately 2,433 sq ft for a 5-bedroom apartment.
The remaining 21 units are all penthouses comprising of three-, four- and four-bedroom plus family units. The size of each penthouse ranges from 2,174 sq ft to 3,681 sq ft. The Parc Condominium comes with full condominium facilities such as tennis courts, an outdoor gym, 50 metre lap pool, Jacuzzi, aqua gymnasium, play area and a basketball half court.
“The project enjoys huge investment potentials for investors. We believe many home buyers could tap into a possible large pool of potential tenants ranging from lecturers to researchers and professionals given its close proximity to the nearby universities and colleges as well as science and business parks,” added Mr Ng.
Parc Condominium is located along West Coast walk, on the former site of Westpeak Condominium. The development is just a stone’s throw away from Clementi Stadium and West Coast Recreational Centre. It is also within walking distance from Clementi MRT Station and Clementi Town Centre where there is a wide array of amenities.
The Parc is also easily accessible to various parts of Singapore via West Coast Highway and Ayer Rajah Expressway. It is a short drive away from National University of Singapore, Singapore Polytechnic, United World College of S.E.A., Singapore Science Park and One North Park in Buona Vista.
The Parc Condominium is being developed by CES-West Coast, a joint venture between CEL Development Pte Ltd (a wholly owned subsidiary of Chip Eng Seng Corporation) and VM Mauritius Holding (a wholly owned investment vehicle of Lehman Brothers Real Estate Partners II).
Savills Residential had been appointed as the sole marketing agent for Parc Condominium by CES-West Coast Pte Ltd.
