Leedon Residence, a 381-unit luxury condominium project by GuocoLand Singapore, has reported an increase in enquiries and sales after achieving its Temporary Occupation Permit (TOP) on 15 June.
The project has sold 24 units worth over $110 million in the last six weeks. Caveats lodged with the Urban Redevelopment Authority (URA) reveal that a total of 181 units have so far been sold at the project, or 80 percent of all units being marketed.
Of these, the project’s three- and four-bedroom units ranging from 2,100 sq ft to 2,600 sq ft attracted the most interest, with 70 percent being Singaporean buyers.
“After the property obtained its TOP, prospective buyers have also been able to examine the quality of the finishes and construction up close, experience the peaceful and private ambience of the property first-hand, as well as select the exact unit best suited to their needs,” a statement said.
GuocoLand also attributed the recent uptake to the project’s prime location, rare freehold status and superior design quality.
Spread over 5ha of land, Leedon Residence comprises two- to five-bedroom apartments, penthouses and garden homes ranging from around 1,000 sq ft to 8,000 sq ft.
Facilities offered include a gym, clubhouse, tennis courts, an Olympic-sized swimming pool and a separate resort pool. The development also comes with its own concierge service.
Surrounded by exclusive Good Class Bungalow Areas (GCBAs) such as Leedon, Cornwall, Belmont and Holland Park, the project is close to popular shopping and entertainment enclaves such as Dempsey Hill, Holland Village, the Singapore Botanic Gardens – a UNESCO World Heritage Site, and Orchard Road.
Leedon Residence is also just minutes from established schools such as Nanyang Primary School, Raffles Girls’ Primary School, National Junior College, Hwa Chong Institution and Saint Margaret’s Secondary School.
Moreover, it enjoys good connectivity to other parts of Singapore via Farrer Road MRT and major expressways such as the Pan Island Expressway (PIE) and Ayer Rajah Expressway (AYE).
Commenting, Cheng Hsing Yao, Managing Director at GuocoLand Singapore, said: “The recent surge of viewings and purchases at Leedon Residence is quite exceptional. At the same time, we are not totally surprised, because it is consistent with our experience with Goodwood Residence, which similarly experienced a surge in purchases after TOP.”
“Astute buyers can recognise quality and great value, and these become much more evident once the project is completed. They will thus commit to the purchase, because the earlier they do so, the better they are at getting the unit that best meet their needs,” he added.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email email@example.com