SINGAPORE (EDGEPROP) – Sloane Residences (previously Sloane Court Hotel) in an upcoming new property launch located along 17 Balmoral in the prime District 10. Tiong Seng Holdings and Ocean Sky International, in a joint venture, bought the site area at a cost of S$80.5 million. The condo is on a FREEHOLD tenure, something that presents even greater value for investors as well as those planning to upgrade to a new home.
Plans are underway to redevelop the site into a 12-storey block with 52 condo units (with an average of 700 sq ft) and a 3-storey building comprising basement car park, sky terrace, swimming pool and other communal facilities. In terms of configuration, the condo will have a thoughtful mix of 2 to 4 bedroom units with intricate designs, high-end furnishings and extra high ceilings to enhance the feeling of spaciousness.
Sloane Residences strategically sits in District 10, at the Balmoral Road, one of the most sought-after addresses in Singapore. The rich history and character of the tranquillity of Goodwill Hill, in this area, is something that can just never go unnoticed. With the residential development being about 5 minutes’ drive to the Orchard Road, future residents will enjoy seamless access to shopping malls, designer boutiques, gourmet restaurants and more.
The condo, which sits on the edge of Orchard Road shopping belt, is surrounded by several high-end condo developments. Historically speaking, this is one of the most exclusive upmarket residential neighbourhoods in Singapore that’s home to both the wealthy and most prominent members of the society. That plus the slew of amenities that surround it promises greater value for home seekers and investors alike.
Amenities Lying Near Sloane Residences
Sloane Residences is located a mere 840 meters or 10 minutes’ walk away from the Newton MRT Station. Serving both the North-South line that goes through Orchard Road and Downtown line that cuts through the Marina Bay Financial District, this interchange provides an easier way for residents to conveniently get to different parts of the island.
The residential development is also 5 minutes’ drive to the Orchard Road and swiftly connects to major expressways in Singapore. In less than 10 minutes, residents can access the Central Expressway (CTE) and/or the Pan Island Expressway (PIE). Travelling to the Central Business District (CBD) from Sloane Residences takes about 15 minutes or so, something that’s just convenient for those working in the city.
Malls, Supermarkets, Restaurants & Banks
Future residents will be able to shop hours on end, dine and drink hassle-free, thanks to the Orchard Road Shopping belt that sits just 1.6 km away of walking distance from Sloane Residences. Popular malls that are easy to access around this area include the ION Orchard, Tanglin Shopping Center, United Square, Far East Plaza, Centerpoint, Wisma Atria, among others.
Along the same Orchard Road belt, there are speciality shops, department stores, supermarkets, food courts, bars, trendy cafes, fast food joints and posh restaurants. Not forgetting the banks, beauty salons and electronics shops. The belt just presents an endless vibrant bustling street scene that makes being around the area fun and lively.
Bukit Timah(D 10) is famous for its range of reputable schools and educational institutions. And within Sloane Residences’ immediate proximity, there are prestigious schools like the Anglo-Chinese School, Singapore Chinese Girls, National Junior College and National University of Singapore (the Bukit Timah Campus).
Other schools located close to residential development include the Raffles Girls, Far Eastern Kindergarten, Little Woods Montessori Pre-School, Methodist Girls Primary & Secondary, Hwa Chong Institution and Nanyang Girls School. The Anglo-Chinese School and Singapore Chinese Girls are funds within 1 km radius, so future residents can give them priority when seeking placement of their kids.
Sloane Residences Key Selling Points
-It’s an estate-in-free (Freehold) condo
-Lies in the Prestigious and most-sought-after District 10
-Rare development with 8-strata bungalows
-Less than 3 minutes’ walk to Newton MRT Station
-Sits close to many reputable schools with the nearest being within 1 km radius
-Provides seamless access to various amenities (schools, shopping, recreational etc.)
Expected Condo Pricing
The site for Sloane Residences was sold to Ocean Sky International and Tiong Seng Holdings at a cost of $80.6 million. That plus the development charges (obligatory) paid to the government, translates to a land cost of about S$1,616 psf. Now, when construction costs, marketing expenses and profit margins are factored in, the estimated launch price works out to between S$2, 650 and S$2,700.
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