The launch of the new condo, The Florence Residences, formerly Florence Regency, is an exciting event for the Homebuyers of this captivating project.
Curated with remarkable features, the development highlights 128 facilities, which induce the senses and your deepest passion.
You can find the best facilities if you are a health buff such as the 80-meter lap pool along with the gym that is complete with the latest equipment. Go to the hydrotherapy club or relax in the wellness club after such an exhausting day at work.
Enjoy a calming massage in the pavilion or the mediation deck and the spa deck where you can also commune with nature.
At the Florence Residences, a concierge service is available, giving the development an edge to a new level. It features 1,410 units overall, varying from one to five bedrooms per unit.
It has top-of-the-line kitchen appliances, fittings and sanitary wares with brands such as Roca, Grohe, and Electrolux.
Every unit has North-South facing, offering ventilation and good lighting on every corner of the house, giving you a well planned home.
Florence Residences Location Map
The rule of thumb when searching for a place to call home is to settle in an area that is close to many educational institutions.
It adds as a convenience for the parents to send their children to schools.
Besides, these schools add value to the property, making the Florence Residences a sought-after residential site.
Some of the top-notch schools near the Florence Residences Condo are the following:
- Xinmin Primary and Secondary Schools
- Holy Innocents’ High School
- Serangoon Junior College
- Montfort Junior School
- Xinghua Primary School
The Florence Residences Condo is also near other day care and childcare centers, giving you peace of mind because you are 100% sure of the educational provision for your young ones.
|Unit Type||Unit Size (sq ft)|
|1 Bedroom||474 – 603|
|1 Bedroom +Study||527 – 667|
|2 Bedroom Classic||624 – 807|
|2 Bedroom Deluxe||646 – 915|
|2 Bedroom + Study||700 – 926|
|3 Bedroom Classic||893 – 1,206|
|3 Bedroom Deluxe||990 – 1,281|
|4 Bedroom Classic||1,270 – 1,582|
|4 Bedroom Deluxe||1,389 – 1,701|
|5 Bedroom||1,668 – 1,916|
En Bloc News – Florence Regency
Florence Regency owners initially provided a reserve price that is higher than S$600 million but the rejection of the bid made the situation suspenseful.
However, Logan Property Holdings finally made the acquisition of the property closing at S$629 million.
The purchase price goes with the property valuation according to Colliers International Consultancy & Valuation Singapore.
The marketing agent handling the sale, JLL, released the confirmation of the property sale and change of ownership, based on a private contract between the Florence Regency owners and the Singapore-based subsidiary of the Chinese development group.
Lee & Lee law firm stipulated the property agreement, which should not be less than the valuation.
The unsuccessful public tender of Florence Regency closed on September 27, which ushered a private deal before the middle of the 10-week open window.
The collective sale is valid for ten weeks after the closing of the public tender. ZACD Group executive director, Nicholas Mak, said that Logan Property’s acceptance of the price payment is good as it matches the S$629 million valuation of Florence Regency.
This is because of the lack of guarantee that the developer has in being successful in other en bloc public tenders. They also have no successful prediction under the GLS (Government Land Sales) programme.
Mak also observed that the land cost of the property is at S$842 per square foot per plot ratio (psf ppr), which follows the factoring of other imminent costs. It is basically a reasonable one in the context of the current real estate market.
Other anticipated costs are inclusive of the differential lease premiums at S$288.6 as well as the cost in connection with the development of additional built-up area. The latter reaches a GPR or gross plot ratio of 2.8.
Investor relations director of Logan Property, Derek Lee, reiterated the plan of the developer, which is putting up 1,400 units based on the site.
Three of the developers, which big for Florence Regency, refused to increase their prices in order to match the property valuation during an earlier stage.
According to analysts, such position reflected the fear of market saturation, which is normal within the area of Hougang-Sengkang.
The property is formerly an HUDC estate and presently has 336 units. Moreover, this is the first attempt of the owners to go for collective sales.
It is quite impressive to note that up to 80 percent general consensus of the owners was achieved with the initial proposal of the idea.
This also resulted in the approval of the en bloc sale in just a matter of three weeks. JLL’s regional director, Tan Hong Boon, stated that each unit owner residing at Florence Regency is most likely going to take away gross proceeds, which value between S$1.84 and S$1.89 million.