Biz Times: Hamilton Scotts offers a garage in the sky

Hamilton Scotts offers a garage in the sky

 

IF you are the sort who cannot bear to take your eyes off your beloved car when you are ensconced in your home, then make an appointment to view the apartment units at Hamilton Scotts.

 

Located at 37 Scotts Road, the 30-storey luxury development by developer Hayden Properties is the first in Asia to feature car parking within the apartment units, with the car parking area separated from the living space by double glazing.

 

Drivers stop their vehicles at a designated point in the basement, exit and undergo a biometric scan, whereupon elevators take the car up to the correct unit in an automated, driverless process.

 

The project is now open for preview by appointment only. It is understood the units will be priced at about $3,800 per square foot (psf).

 

The condominium consists of 56 units, including 52 three-bedroom units of 2,700 sq ft and two 3,200 sq ft junior penthouse units. Each of these has parking space for two cars.

 

The remaining two units are 7,100 sq ft triplex penthouses with interior customised to buyer specifications, serviced by an internal lift and come with a rooftop garden and swimming pool. They can accommodate four cars each.

 

Hamilton Scotts is slated for completion by 2011.

 

If living with your car is not your cup of tea, perhaps you might want to visit another luxury residential project: Signature at Lewis. It will be officially launched this Saturday by developer Hiap Hoe Group with a starting selling price of $1,670 psf.

 

Located at 1 Lewis Road, the 12-storey development comprises 10 studio units (635 sq ft each), 10 two-bedroom units (980 sq ft) and 10 four-bedroom units (1,841 sq ft), as well as two penthouses, with private pool and roof deck, occupying over 3,000 sq ft each.

 

So far, three units have been booked for an undisclosed price.

 

Source: Business Times

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Straits Times: Posh condo on sale amid weak market

Posh condo on sale amid weak market

 

A LUXURY condominium that lets residents park their cars right in front of their high-rise units has been released for sale at a price analysts consider rather steep, given the quiet market.

The Hamilton Scotts project – it has special lifts to bring the cars to the desired floor – will likely be listed at an average of $3,800 per sq ft (psf), said developer Hayden Properties yesterday.

 

That will price the 52 regular units of about 2,700 sq ft at between $8 million and $12 million each. The 30-storey freehold condo in Scotts Road also has two junior penthouses of about 3,200 sq ft and two penthouses of around 7,100 sq ft.

 

Market insiders say the condo could be priced between just under $3,000 psf to over $4,000 psf, while one market watcher says it could have fetched between $3,500 and $4,500 psf last year.

 

However, the $3,800 psf average price is still relatively high given the cooling market for luxury homes.

 

There are several posh projects in the pipeline, but developers have been holding back launches amid the uncertain climate.

 

The luxury segment has taken a big hit after the dizzying highs hit last year. Prices are down about 10 per cent with falls of a further 5 to 10 per cent expected by the end of the year, said Savills Singapore.

 

The only other major luxury development released for sale this year was the 100-unit Nassim Park Residences. More than half the units have been sold since May, with prices averaging $3,000 psf.

 

‘Hayden is probably keen to take advantage of this quiet period to launch, after the release of Nassim Park Residences and before the Hungry Ghost Festival,’ said Savills director of marketing and business development Ku Swee Yong.

 

Knight Frank’s director of research and consultancy, Mr Nicholas Mak, believes The Hamilton Scotts has enough appeal to defy the trend somewhat: ‘There will still be takers as it is a unique product. But this is the time for mass market projects.’

 

The recent pickup in launches was almost all in the mass market or mid-tier segment.

 

Hayden managing director Ong Chih Ching said it should be able to get offers if the project is priced correctly. However, it would not sell if the price is not right.

 

‘We are previewing it and not launching it because this is not the right climate to launch,’ said Ms Ong, who added that Hayden has temporarily halted sales at its ultra- posh Ritz-Carlton Residences until the mood improves.

 

Source: Straits Times