Cuscaden Reserve— Overview

1. Project Factsheet

Factsheet Overview: The following technical specifications outline the master data framework for Cuscaden Reserve, compiled from official Land Titles Registry records, Urban Redevelopment Authority (URA) completion filings, and developer transaction disclosures.

Factsheet Parameter	Project Details / Technical Specification
Project Name	Cuscaden Reserve
Developer	Cuscaden Properties Pte Ltd (SC Global Developments, New World Development & Far East Consortium)
Property Address	8 Cuscaden Road, Singapore 249724
District & Planning Area	District 10 (Tanglin / Orchard Corridor) | Core Central Region (CCR)
Tenure	99-Year Leasehold (Commenced August 14, 2018)
Site Land Area	5,722.5 sq m / ~61,597 sq ft
Gross Plot Ratio	2.8
Maximum Gross Floor Area (GFA)	16,023 sq m / ~172,472 sq ft
Building Elevation & Profile	1 Tower of 28 Storeys (Elevated Cantilever Structure)
Total Residential Units	192 Luxury Apartments
GLS Awarded Land Rate	S$2,377 psf ppr (Total Site Quantum: S$410.0 Million | Awarded May 2018)
Estimated Developer Breakeven	S$3,100 – S$3,250 psf (Original Cost Structure)
Revised Relaunch PSF Range	S$2,900 – S$3,150 psf Average (2024 Strategic Realignment)
Status / Completion Date	Completed / Target TOP Obtained (2023)
Nearest MRT Stations	Orchard Boulevard MRT (TE13) (~150m / 2-minute walk), Orchard MRT (NS22/TE14) (~600m)
Primary School Proximity	River Valley Primary School (1–2km), Alexandra Primary School (1–2km), Anglo-Chinese School (Junior) (1–2km)

2. SC Global's Strategic Relaunch

Land Tender Background: The site for Cuscaden Reserve was contested during the May 2018 Government Land Sales (GLS) tender, drawing intense developer participation despite macro-economic uncertainties. The winning bid of S$410 million by Cuscaden Properties Pte Ltd translated to a land rate of S$2,377 psf ppr. This transaction set an all-time record benchmark for residential GLS land sales in Singapore, surpassing previous land acquisitions in the Orchard and Tanglin sub-zones.

Consortium Profile & Synergy: The development represents a joint venture uniting three real estate firms: SC Global Developments (renowned for ultra-luxury residential curation including Sculptura Ardmore and The Marq on Paterson Hill), New World Development (bringing artisanal design heritage from Hong Kong), and Far East Consortium (offering broad regional development execution). The partnership intended to create a signature boutique tower adjacent to the St. Regis and Orchard Boulevard luxury corridor.

Strategic Pricing Realignment (2024): Following initial sales launches where transacted prices ranged between S$3,600 and S$3,800 psf, market absorption slowed due to major regulatory adjustments—most notably the April 2023 doubling of Additional Buyer's Stamp Duty (ABSD) for foreign buyers from 30% to 60%. Recognizing the shift in buyer demographics toward domestic Singaporeans and Permanent Residents (PRs), the consortium executed a strategic price reset in early 2024, re-entering the market at prices starting from S$2,900 psf to S$3,150 psf.

Benchmarking Prime District 10 & 9 GLS Land Rates: To understand the comparative land basis across prime CCR sites, the table below highlights land costs for GLS land parcels awarded across the Orchard/Tanglin precincts:

• Cuscaden Reserve GLS (Subject Site): S$2,377 psf ppr | Plot Ratio 2.8 | Awarded May 2018
• Jiak Kim Street GLS (Riviere): S$1,733 psf ppr | Plot Ratio 3.8 | Awarded Dec 2017
• Marina View GLS: S$1,379 psf ppr | Plot Ratio 13.0 | Central Business District
• River Valley Green Parcel A GLS: S$1,325 psf ppr | Plot Ratio 3.5 | Awarded June 2024

Analytical Deduction: The land bid of S$2,377 psf ppr for Cuscaden Reserve remains an unmatched land valuation benchmark for prime residential GLS tenders in District 10. By adjusting launch pricing down to S$2,900–S$3,150 psf, the consortium effectively absorbed a portion of financial overheads to realign the asset's entry valuation with current domestic buyer affordability thresholds, creating a compelling entry point for buyers looking for prime Orchard addresses.

3. Land Price

Itemized Cost Decomposition: Assessing the developer's historical financial position requires decomposing the expense components associated with high-spec luxury tower construction in District 10.

Cost Pillar	Estimated Cost Basis (S$ per sq ft GFA/PPR)	Percentage Share of Baseline Cost Structure
GLS Land Acquisition Basis	S$2,377	73.1%
High-Rise Construction & Custom Finishing	S$550 – S$620	17.8%
Financing Interest, Legal, & Professional Fees	S$160 – S$190	5.3%
Marketing, Sales Commissions, & Administrative Overheads	S$120 – S$140	3.8%
Total Estimated Historical Developer Breakeven	S$3,207 – S$3,327	100.0%

Breakeven Floor vs. Revised Market Pricing: The itemized financial model indicates that historical development breakeven anchored between S$3,200 and S$3,300 psf based on high finishing standards and land financing expenses. The developer's decision to price inventory between S$2,900 and S$3,150 psf during the 2024 realignment represents a direct pass-through of value to secondary buyers. Buyers entering at S$2,950 psf are acquiring completed prime District 10 inventory below the developer's original cost breakeven basis.

Valuation Arbitrage Analysis: When evaluated against surrounding freehold and leasehold new launch assets along Cuscaden Road, Boulevard Road, and Tomlinson Road, Cuscaden Reserve exhibits a notable price differential:

• Boulevard 88 (Freehold): Transacted Average S$3,750 – S$4,900 psf
• Park Nova (Freehold): Transacted Average S$4,200 – S$5,800 psf
• 3 Orchard By-The-Park (Freehold): Transacted Average S$3,600 – S$4,200 psf
• Cuscaden Reserve (99-Year Leasehold Relaunch): Transacted Average S$2,900 – S$3,150 psf

Analytical Deduction: The S$800 to S$1,500 psf price discount relative to neighboring freehold mega-luxury developments establishes a significant entry price arbitrage. For owner-occupiers and domestic yield-seeking investors, this lower quantum input enhances rental yield metrics while maintaining address parity with adjacent luxury properties.

4. SC Global Craftsmanship & Bauhaus Principles

Architectural Vision: Cuscaden Reserve incorporates architectural principles drawn from modern Bauhaus design, emphasizing functionalism, clean lines, structural transparency, and spatial integration with nature. Designed in collaboration with SCDA Architects, the tower stands as an elevated continuous structure surrounded by manicured green spaces.

Elevated Cantilever Massing: Unlike conventional residential towers that occupy substantial ground footprint for lobby amenities, Cuscaden Reserve elevates its entire residential stack on slender structural stilts (pilotis). This design choice lifts the lowest residential floor significantly above ground level, preserving ground plane transparency for biophilic gardens, reflection pools, and outdoor leisure pavilions.

Facade Engineering & Operable Fin Controls: The exterior facade utilizes custom architectural details, including operable external timber fins and high-performance acoustic glass panels. Key benefits include:

• Solar Heat Gain Reduction: Adjustable fins allow residents to regulate natural daylight entry, mitigating solar heat build-up while optimizing interior climate control.
• Privacy Management: Angled louvers preserve outward sightlines toward the Orchard skyline while restricting inward views from adjacent buildings.
• Aesthetic Continuity: The warm timber hues contrast with sleek glass elements, creating an organic facade that evolves as light changes throughout the day.

5. Unit Mix, Spatial Flexibility & Private Lift Efficiency

Unit Distribution Framework: Comprising 192 residential units across 28 storeys, Cuscaden Reserve prioritizes efficient footprints tailored for urban professionals, corporate executives, and downsizers seeking prime District 10 addresses. The unit mix breakdown is summarized below:

• 1-Bedroom Units (approx. 700 sq ft): Dedicated layouts emphasizing living area proportions, integrated kitchen cabinetry, and ensuite bathroom arrangements.
• 2-Bedroom Units (approx. 807 - 818 sq ft): Compact family or executive arrangements featuring flexible partition configurations and open-plan kitchen designs.
• 2-Bedroom + Study / Private Lift Units (approx. 807 - 936 sq ft): Premium layouts featuring direct private lift foyer access and dedicated study alcoves.
• 3-Bedroom + Private Lift Units (approx. 1,163 sq ft): Spacious corner apartments with private lift foyers, double-aspect corner views, and master suite layouts.

Flexible Sliding Wall Architecture: A key feature within Cuscaden Reserve’s spatial layout is the inclusion of integrated sliding wall systems. Designed under SC Global's "Petit Collectibles" spatial philosophy, these partitions allow residents to convert living areas and adjacent bedrooms into single open-plan suites or partitioned private spaces based on individual needs.

Private Lift Lobby Integration: Over 80% of the unit matrix features direct private lift elevator access, opening directly into exclusive foyers. This layout detail enhances personal privacy, eliminates corridor noise, and delivers a premium living experience characteristic of high-end luxury residences in District 10.

6. Market Supply & Price Gap

Tanglin/Cuscaden Precinct Inelasticity: The Cuscaden Road and Orchard Boulevard residential enclave is one of Singapore's most land-constrained sectors. Opportunities for new residential developments remain rare, with most plots tightly held by institutional entities or designated under conservation guidelines.

Comparative Valuation Grid across Orchard & Tanglin Sub-Zones: To evaluate relative market value, the following table compares Cuscaden Reserve against existing secondary and new launch benchmarks in the surrounding micro-market:

Development Name	Location / District	Tenure	Transacted / Asking PSF Range	Completion Status / Age
Cuscaden Reserve	Cuscaden Road (D10)	99-Year Leasehold	S$2,900 – S$3,150 psf	Completed (TOP 2023)
Boulevard 88	Cuscaden Road (D10)	Freehold	S$3,800 – S$4,900 psf	Completed (TOP 2023)
Park Nova	Tomlinson Road (D10)	Freehold	S$4,200 – S$5,400 psf	Completed (TOP 2023)
3 Orchard By-The-Park	Orchard Blvd (D10)	Freehold	S$3,500 – S$4,000 psf	Completed (TOP 2017)
Orchard Residences	Orchard Turn (D09)	99-Year Leasehold	S$3,200 – S$3,700 psf	Mature (TOP 2010)

Analytical Deduction: At S$2,900 to S$3,150 psf, Cuscaden Reserve offers a competitive entry baseline for newly completed construction in District 10. Compared against older 99-year leasehold developments like Orchard Residences (which transacts at S$3,200–S$3,700 psf despite being completed in 2010), Cuscaden Reserve provides buyers with a fresh 99-year lease tenure and modern architectural finishes at a notable entry discount.

7. Healthcare, Lifestyle & Education

Medical Hub Proximity: Cuscaden Reserve sits near two major private medical institutions in Singapore: Camden Medical Centre (located ~250 meters away) and Gleneagles Hospital (~1.1 km away). These institutions house specialist clinics, diagnostic hubs, and private healthcare suites, driving consistent tenant demand from medical professionals, visiting specialists, and international healthcare clients.

Lifestyle & Hospitality Precinct Integration: Positioned adjacent to the St. Regis Singapore, Four Seasons Hotel, and Conrad Singapore Orchard, the development provides residents with access to high-end dining and wellness amenities. Orchard Road's premier shopping strip—including ION Orchard, Wheelock Place, and Ngee Ann City—is within a 5-to-8-minute walk.

Educational Catchment & International Schools: While District 10 is widely recognized for its educational institutions, Cuscaden Reserve serves both local primary school catchments and international educational institutions:

• Primary School Radius (1km to 2km): River Valley Primary School, Alexandra Primary School, and Anglo-Chinese School (Junior) sit within the 2km distance boundary.
• International Schools: ISS International School (Elementary & Middle School campus), EtonHouse International School (Claymore), and Chatsworth International School provide educational options for expatriate families residing in the Tanglin enclave.

8. Vehicular Networks & Thomson-East Coast Line (TEL) Synergy

Mass Rapid Transit (MRT) Connectivity: Cuscaden Reserve sits approximately 150 meters from the entrance of Orchard Boulevard MRT Station (TE13) on the Thomson-East Coast Line (TEL), providing direct pedestrian access via covered pathways.

Strategic Transit Destinations via TEL: The Thomson-East Coast Line offers direct, single-train transit connections across key commercial, cultural, and employment hubs:

• Orchard MRT Station (NS22 / TE14): 1 stop (Connection to the North-South Line).
• Great World MRT Station (TE15): 2 stops (Direct access to Great World City and River Valley).
• Shenton Way MRT Station (TE19): 6 stops (Direct access to the Central Business District core).
• Marina Bay MRT Station (NS27 / CE2 / TE20): 7 stops (Connection to Circle Line and Downtown Line).

Vehicular Arterial Connections: For private vehicle owners, Cuscaden Road connects directly to Orchard Boulevard, Grange Road, and Tanglin Road. Arterial routes provide access to the Central Expressway (CTE) and Ayer Rajah Expressway (AYE), enabling transit times of 10 to 12 minutes to Raffles Place and Marina Bay, and 8 to 10 minutes to the One-North Technology Corridor.

9. Orchard Road Strategic Development Incentive Framework

Orchard Road Urban Transformation: Under the Urban Redevelopment Authority (URA) Master Plan, the Orchard Road precinct is undergoing an urban transformation designed to transition the corridor from a traditional retail street into a green lifestyle destination.

Strategic Development Incentive (SDI) Scheme: The SDI scheme encourages owners of older commercial buildings along Orchard Road and Cuscaden Road to redevelop sites into mixed-use hubs featuring increased gross plot ratios, public plazas, and integrated hotel/residential components. Key initiatives benefiting Cuscaden Reserve include:

• Tanglin Arts & Lifestyle Sub-Zone Development: Enhancing pedestrian corridors connecting Tanglin Shopping Centre (earmarked for en-bloc redevelopment), Forum The Shopping Mall, and Cuscaden Road into elevated green walkways.
• Pedestrian Connectivity Enhancement: Creating seamless underground and elevated sheltered walkways linking Orchard Boulevard MRT directly to surrounding residential enclaves and retail destinations.
• Biophilic Urban Greening: Expanding tree canopy corridors along Cuscaden and Tomlinson Roads, reinforcing the lush, green streetscape character of the Tanglin enclave.

10. Buyer Demographics, Rental Yield Modeling & Exit Liquidity

Target Buyer Profiles: Following its early 2024 price repositioning, demand for Cuscaden Reserve has centered around three primary buyer demographics:

• Domestic High-Net-Worth (HNW) Owner-Occupiers: Local Singaporean citizens purchasing boutique luxury homes within District 10, drawn by the SC Global design heritage and lower price quantum.
• Singapore Permanent Residents (PRs): PR buyers seeking prime addresses in Orchard/Tanglin, taking advantage of the reduced S$2,900+ psf entry point compared to S$4,000+ psf freehold alternatives.
• Yield-Focused Domestic Investors: Capital allocation entities looking to lock in completed inventory with immediate tenant placement opportunities linked to nearby embassy staff, medical specialists, and C-suite corporate tenants.

Rental Yield Performance & Projections: Given its proximity to Camden Medical Centre, foreign embassies, and regional corporate headquarters along Orchard Road, rental demand for 1-bedroom and 2-bedroom units at Cuscaden Reserve remains active. Estimated rental metrics are detailed below:

Unit Typology	Square Footage Range	Projected Monthly Rental (S$)	Estimated Gross Rental Yield (at S$2,950 PSF)
1-Bedroom Layout	~700 sq ft	S$5,200 – S$6,000	3.0% – 3.5%
2-Bedroom Layout	~807 – 818 sq ft	S$6,800 – S$7,800	3.2% – 3.6%
2-Bed + Study / Private Lift	~807 – 936 sq ft	S$7,500 – S$8,800	3.1% – 3.5%
3-Bedroom + Private Lift	~1,163 sq ft	S$10,500 – S$12,500	3.3% – 3.7%

Exit Liquidity Horizon: Because Cuscaden Reserve is a 99-year leasehold asset situated within a predominantly freehold enclave, buyers should align their investment horizon around a 6-to-10-year holding period. Exiting within this timeframe capitalizes on nearby Orchard Road SDI urban redevelopments and steady rental yields, while avoiding long-term lease decay pressures that affect secondary market liquidity in later decades.

11. Risks

Risk Identification & Evaluation: Prior to acquiring units at Cuscaden Reserve, prospective buyers should evaluate key market risks and structural headwinds.

Risk Vector	Impact Level	Analytical Mitigation & Market Reality
60% Foreign Buyer ABSD Headwind	High	Mitigated by developer price adjustments targeting domestic Singaporean and Permanent Resident buyers, insulating sales velocity from foreign capital slowdowns.
Leasehold Tenure Disparity in Freehold Sub-Zone	Moderate	Offset by the S$800–S$1,500 psf entry discount relative to neighboring freehold launches, yielding higher gross rental returns for income-focused investors.
Interest Rate Volatility	Moderate	Buyers are stress-tested under MAS TDSR guidelines at a 4.0% interest rate, ensuring resilient buyer balance sheets across the project's owner-occupier base.
Boutique Layout Absorption Risk	Low-Moderate	Flexible sliding wall systems allow units to adapt to changing lifestyle needs, supporting multi-segment resale appeal for single professionals, couples, and downsizers.