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A Peek at New Launches Parc Riviera and Queens Peak

Posted by adminnlsg on February 19, 2017
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Right at the heels of the successful The Alps Residences and Forest Woods launches, there are two new anticipated launches happening this weekend. Located next to Queenstown MRT is the Queens Peak project, and over at the West Coast area is the Parc Riviera.

 

Queens Peak

Then tender for this project was awarded to HY Realty in June 2015, taking the developer around 16 months to launch this project. Its prime appeal is being located right next to the Queenstown MRT station. Additionally, the Queenstown area itself is undergoing some changes as new HDB blocks and facilities are being constructed around Margaret Drive. With these construction work going now, it means that these HDB blocks as well as the Commonwealth Towers nearby will already be built at the same time that Queens Peak becomes ready for occupations. Residents would not have to deal with living near a construction site.

A peek at new launches Queens Peak

Queens Peak will have two 44-storey towers and a total of 736 units. It will be located right next to an MRT station

There will be a total of 736 units in Queens Peak which will be spread across two 44-storey towers. Expected to be completed by Dec 2020, the average launch price is forecasted to be at $1,550 psf based on the winning bid of $871 psf ppr (per square foot per plot ratio).

 

One and two-bedroom units will be placed in the lower levels (08 to 26), while the bigger units of three, four, and five-bedroom units are going to be at the upper levels (28 to 43).

 

Here’s a tip: Next door neighbour Commonwealth Towers, which was launched on May 2104, still has a significant number of inventory at 417 unsold units. Buyers looking into this area might want to compare Queens Peak and Commonwealth Towers before making a commitment with either development.

 

Breakdown of Units 

Room type Floor size No. of units
1BR 425–441 sf 152 Units
1BR+Study 484–495 sf 114 Units
2 BR 620-809 sf 190 Units
3 BR 784-1040sf 228 Units
4 BR 1480 sf 32 Units
5 BR 1947 sf 16 Units
6 BR (PH) 4519-4778 sf 4 Units
    736 Units

 

Comparable Developer Units

Commonwealth Towers – (average $1,652 psf)

 

Launch Price Estimates 

Type Size Est. Ppsf ($) Est. launch Price
1BR 425–441 sf $1,600 $680,000
1BR+Study 484–495 sf $1,600 $775,000
2 BR 620-809 sf $1,550 $961,000
3 BR 784-1040 sf $1,550 $1.22 million
4 BR 1480 sf $1,500 $2.22 million
5 BR 1947 sf $1,450 $2.82 million
6 BR (PH) 4519-4778 sf $1,300 $5.87 million


 

Parc Riviera

With just six bids submitted, awarding of the tender to EL Development in August 2015 resulted in a low winning bid of $551 psf ppr. This is good news for potential buyers as the relatively low amount will most likely mean lower selling prices. The site will be within 1.5km of the soon to be built High Speed Rail terminus and within the West Coast private residential area, most likely to be located where the Jurong Country Club currently stands. The International Business Park will be another neighbour at 1km away, as well as the National University of Singapore and the hospital. With these nearby institutions, the West Coast area hasn’t lacked tenants. The nearest MRT is around 2km away from the Parc Riviera development.

 

There is a plot of land adjacent to the development that is scheduled for tender in Dec 2016. Potential buyers should then expect ongoing construction next door for at least a year after moving in. Parc Riviera’s units facing south will also lose their full sea view once this neighboring condo is completed.

A peek at new launches Parc Rivieria

Parc Riviera will have two 36-storey towers with a combined total of 752 units. The site is within 1km of the future High Speed Rail Terminus and the International Business Park

 

Parc Riviera will be composed of two 36-storey towers that has a total of 752 units, with expected completion at August 2020. The expected average launch price is at $1,200 psf based on the $551 psf ppr winning bid.

Here’s a tip: Trilinq will be the closest competitor as it is much nearer to the Clementi MRT but farther from Jurong Lake district. Lake Grande, which is located in the Jurong Lake district itself, is another competitor. Unit transactions over the last few months are at an average of $1,300 psf, which means that Parc Riviera offers more value for money.

 

Breakdown of Units 

Room type Floor size No. of units
1 BR 463–667 sf 128 Units
2 BR 603-1033 sf 352 Units
3 BR 906-1442sf 136 Units
4 BR 1152-1711 sf 136 Units
    752 Units

 

Comparable Developer Units

Trilinq – (average $1,402 psf)

 

Launch Price estimates 

Type Size Est. Ppsf ($) Est. launch Price
1 BR 463–667 sf $1,300 $600,000
2 BR 603-1033 sf $1,200 $720,000
3 BR 906-1442sf $1,100 $997,000
4 BR 1152-1711 sf $1,000 $1.15 million

 

The balloting for both Queens Peak and Parc Riviera is expected to be in early November. Keep up with the new launch condo for the latest developer launches by subscribing here.

 

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