Oxley Holdings, one of the top-rated developers in Singapore has launched The Verandah Residences.
The upcoming residential development is on a freehold site and would have classy low-rise apartments.
Located on 231 Pasir Panjang Road the property wears a colonial look with black and white frontage. Its classy yet chic design attracts the attention of neighbours and those passing by.
There are 170 apartment units on offer at the property. These include 57 one-bedroom units, 10 one-bedroom units that come with an additional study, 32 two-bedroom units, 48 three-bedroom units and 20 four-bedroom units.
Apart from this The Verandah Residences also has 3 strata houses that have four bedrooms each within the perimeters of the development.
Home Buyers Dash to Acquire Residential Units at Site Acquired July Last Year
Launch for the Verandah Residences on the 7th & 8th was Impressive with 76% Sold
Oxley Holdings, the developer who has built The Verandah property is, definitely, thrilled with the response received from prospective home owners over the weekend.
The developer launched the sale of their completed units on the weekend of April 7 and 8, 2018 and managed to dispose of 76% of those units, which were literally 129 of the property’s 170 units.
The site on which The Verandah Residences has been developed cost Oxley Holdings S$121 million back in July 2017, which translated to a land rate of S$964 per sq ft per plot ratio (psf ppr).
This week, the land rate has translated to S$1,815 psf ppr, based on the average price of the units sold. Considering the massive difference between the land buying rate and the selling rate, the developer must be thrilled about the investment.
Oxley Holdings plans to complete the project by the last quarter of 2023.
The site on which The Verandah Residences sits is 89,620 sq ft in size, and its ownership is freehold.
While noting that 85% of buyers who scooped the houses were local Singaporeans, Ching Chiat Kwong, chairman and chief executive of Oxley Holdings, said there was high demand for their residential houses, especially the one and two-bedroom units.
He also disclosed that 15% of those who bought houses at The Verandah Residences were either permanent residents or foreigners.
In total, the development has 167 apartments and the other three are strata houses.
According to Oxley, the 1 bedroom, 1-bedroom + study, 2-bedroom as well as 2-bedroom premium units were all scooped by eager home owners during the launch.
In a statement regarding of the sale, Oxley chairman said the market response was very encouraging.
He also disclosed that they had received plenty of inquiries about the units even before the launch, adding that the great response was indication of pent up demand for residential units of high quality and in an excellent location.
The Verandah Residences, which has been designed by DP Architects, is Oxley’s first development to be launched, and there are plans to launch more of their developments this year, including developments on the Rio Casa and Serangoon Ville sites.
The property is well-located with the Har Paw Villa MRT and Pasir Panjang MRT station being only a couple of hundred meters from the site.
With these MRT stations falling in the circle line it offers connectivity to all major locations in Singapore.
There has been paucity of freehold sites near MRT stations in this location with very few developments coming up and this adds to the advantage of The Verandah Residences.
This new launch condo would be ideal for those who regularly indulge in shopping and dining with Star Vista Shopping and Rochester Shopping Mall two stations from Har Paw Villa MRT station.
Also a few stations down is Holland Village which is one of the most popular places with diners offering plenty of options as far as ethnic cuisine is concerned.
VivoCity one of the most popular shopping malls in the city isn’t too far away from the property.
An added incentive for buyers would be that The Verandah Residences is directly connected to places such as Kent Ridge, One North, Labrador Park that would translate into easy commuting for people working in One North Business Park, the Maple Business City or those who have to travel to National University of Singapore and National University Hospital.
Apart from these residents can also easily commute to Jurong Lake District using the MRT.
The Verandah Residences residents would also have plenty of recreational options as the under renovation Greater Southern Waterfront being a few minutes’ walk from the property.
Nature lovers and outdoor enthusiast will not trade this address for anything else as West Coast Park, HortPark and Labrador Nature Reserve are all located nearby.
Also need to mention that The Verandah Residences is only mins drive away from Top Attraction Sentosa. This gigantic Entertainment island offer tons of fun activities for families or friends.
Young parents would be attracted to this property with many schools in the vicinity or easily commutable including the likes of Anglo-Chinese School, Japanese School, Singapore Polytechnic, Nan Hua Primary and Secondary School, Ngee Ann Polytechnic and also the College of South East Asia.
1 Bedroom – SOLD OUT
1 Bedroom with Study – SOLD OUT
2 Bedroom – SOLD OUT
3 Bedroom – SOLD OUT
3 Bedroom Premium – SOLD OUT
4 Bedroom – SOLD OUT
All Units has Been SOLD, if there is any Condo you are interested, fill in the form below
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