A Privately New Launch Condo Singapore developer Macly Group and public-listed property firm Roxy-Pacific Holdings have formed a consortium with local construction firm LWH Holdings to acquire two residential plots at 10A and 10B Institution Hill, for $33.6 million. Macly Group will hold 48% stake in the joint venture company, Mequity Hills Pte Ltd, while Roxy-Pacific will take up 42% stake, and LWH, the remaining 10%.
As known, this New Launch Condo Singapore (Hill House @ Institution Hill) has a 999-year leasehold tenure development and with a total site area of 813.9 sq m (8,761 sq ft approximately) and a plot ratio of 2.8 for both. A new esidential project with a total gross floor area (GFA) of 24,530 sq ft.
New Launch Condo in Singapore: Hill House @ Institutional Hill with facade
New Launch Condo is located at 10A/ 10B/ 11 Institution Hill, the coveted District 9 residential enclave. Hill House @ Institution Hill is just an 8 mins walk to Somerset MRT and Dhoby Ghaut MRT (13 mins bus), Clarke Quay MRT and the upcoming Great World MRT Station (expected completion in 2021). With neighborhoods like Orchard Road, Robertson Quay, Clarke Quay and the River Valley area filled with entertainment, retail and restaurants, Institution Hill is possibly one of the best places to work, live, or work.
New Launch Condo Singapore offers quick access to River Valley Road, Somerset Road and Orchard Road, Singapore's popular shopping belt via River Valley Road, everything within walking distance. All create a quiet and calming atmosphere, reserved for those who value privacy around the area.
Besides, New Launch Condo Singapore is also close to regional and international schools such as the prestigious River Valley Primary School (within 600m), Alexandra Primary School, EtonHouse Robertson Walk Kindergarten, etc.
Discover more about Hill House @ Institution Hill and grab your unit now and be able to take advantage of discounts and promos available.
New Launch Condo in Singapore: Hill House @ Institutional Hill land parcel
When incorporated, the site of this New Launch Condo will have an estimated total land area of 14,300 square meters with a total GFA of 40,040 square meters. This land can be developed into a new residential project with more than 50 units.
The sale of the two locations at the two addresses above was brokered by Cushman & Wakefield, who do marketing for these locations, they are for sale by expressing interest. According to Christina Sim, Cushman & Wakefield's Head of Capital Markets, the two neighborhood locations at Institution Hill are of interest as many developers are looking for land bank locations to develop and sell.
It is known that interest in districts 9, 10 and 11 and plots on the outskirts of the CBD is especially popular due to the scarcity of supply of small and medium-sized plots. Recent transaction prices for new freestanding projects in the vicinity, such as 8 St Thomas, The Avenir and RV Altitude, averaged between $2,700/psf and $3,000/ton, she noted.
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