Stirling Residences 10 Stirling Road Last updated on 2018 March 01 02:03
|Site Area||227,221 sq ft|
|Property Type||Apartment / Condo|
|Developer||Hong Kong's Logan Property and Chinese developer, Nanshan Group|
Stirling Road draws near Queenstown MRT Station has attracted a top bid of more than S$1 billion,
the first time that a purely residential site
The large 99-year leasehold site at Stirling Road, which sits on 227,221 sq ft of land, has a gross plot ratio of 4.2, translating into a maximum permissible gross floor area of 954,327 sq ft has received a top bid of more than S$1 billion.This can be developed into about 1,110 homes with expected the break even price for the site to come in at about S$1,600 and S$1,700 psf ppr.
The 13 bids tender for the 99-year leasehold was won by the top bid coming from a joint effort between Hong Kong's Logan Property and Chinese developer, Nanshan Group. They bid slightly more than S$1 billion for the 21,190 sq m site, translating to a price of S$1,050 per square per plot ratio.
This is the first time that a purely residential site in the GLS has crossed the S$1 billion mark. The S$1.003 billion price tag is also almost 50 per cent (46.7 per cent) higher than the previous record — a site that has been developed into Costa Del Sol condominium, which was sold at S$682.8 million or S$457 psf per plot ratio (ppr) in January 1997.”
Although, the bid may seem bullish, the price is actually reasonable, due to the location of the land parcel with the other developments in the area, most of them would have sold their units by the time this new project is launched.
Stirling Residences is In a matured residential estate, within a centralized locale and conveniently positioned just minutes-walk away from Queenstown and Commonwealth MRT Station.
Stirling Residences is situated within a centralized matured estate .Residents are conveniently positioned with either choose to just walk to Commonwealth MRT, or a short drive to the Ayer Rajah Expressway (AYE) and this major expressway connects residents to the Marina Bay Financial Centre through the Marina Costal Expressway (MCE) and East Coast Parkway (ECP) towards Changi
Airport. It is also a short 5 mins drive to the famous Orchard Road Shopping Belt.
Residents need only 10 minutes drive to One North which houses the Fusionpolis and Mediapolis and onwards to the upcoming Singapore 2nd Central Business District and the SG-KL High Speed Rail station .
Stirling Residences was so convenient where is it situated along Stirling Road and Angora Close where the landed property enclave where they offering residents an excellent view towards Mount Faber Park, Sentosa Sea view as well as the City Centre from the higher floors. It will prominently feature as one of the most iconic landmark in the Stirling road precinct when it is completed.