TULIP GARDEN EN BLOC SALE
MCL Land Ltd and Yanlord Land Group Ltd bought Tulip Garden in an en bloc sale in April 2018 at a price of $906.9m. It was the fourth time lucky for the 162 owners. The district 10 freehold site will be redeveloped into Leedon Green.
Tulip Garden has a land size of 306,178sf and a plot ratio of 1.6, the price works out to $1,790 per sq ft per plot ratio (psf ppr). In comparison, this price is higher than $1,703psf ppr for Hollandia, $1,654 psf ppr for Estoril and $1,536 psf ppr for Wilshire.
Based on Edgeprop‘s estimate, the break even price is about $2,387psf. The likely launched price for the expected 670 units will be about $2,600 to $2,700psf. Wilshire Residences (former Wilshire), with 85 units, is currently selling around $2,6xxpsf. If Leedon Green were to sell at around $2,700psf or close to that, it would be a good buy considering it is a bigger project, hence more and better facilities.
On the other hand, Royalgreen (former Royalville) has just been launched at around $2,600-2,700psf. While Royalgreen is only about over 200m to the Sixth Avenue MRT, Leedon Green (part of the development) is within 1 km to Nanyang Primary School. This will be an important consideration for parents hoping to register their children in this popular school.
Leedon Green is conveniently located in an exclusive upscale residential area in District 10 at the junction of Farrer Road and Holland Road. This is nestled within an affluent Good Class Bungalow area and a tranquil neighborhood. Some high end condominiums include Leedon Residences and D’Leedon.
This new condo enjoys superb transport connectivity. It is within minutes’ walk to Farrer Road MRT station and Holland Village MRT station. For motorists, PIE and AYE expressways will provide excellent connectivity to the rest of Singapore.
MCL Land is a leading residential developer that constantly innovates in the pursuit of excellence and dedicated to delivering superior customer satisfaction. They continually refine their ideas so they evolve into practical and smart home solutions. They also believe in creating long-term value for their homeowners – through spaces that not only enables them to connect with their loved ones, but also with others who live and play in the same community.
Over the past 50 years, they have established a legacy of building quality homes in both Singapore and Malaysia. They are a member of the Jardine Matheson Group under Hongkong Land Holdings, which has an extensive portfolio of prime residential properties in Hong Kong, Singapore, Malaysia, China, Vietnam, Philippines, Indonesia and Thailand.
Some of their notable developments include Parvis, The Estuary, UBER 388, Este Villa, Terrasse, Palms @ Sixth Avenue, Hallmark Residences, Ripple Bay, J Gateway, LakeVille, Sol Acres, Lake Grande, Margaret Ville and Parc Esta.
Yanlord Land Group Limited is a real estate developer based in the PRC that focuses on developing high-end residential, commercial and integrated property projects in strategically selected key high-growth cities in the PRC. Building on its established track record for developing high-end quality residential property developments in prime locations within affluent cities such as Shanghai and Nanjing.
The “Yanlord” name has been developed into a premium brand synonymous with quality within the property development industry. Typically, Yanlord residential property developments are characterized by large-scale, multi-phased projects designed and built by international architects, leading designers and reputable contractors.
To fuel the sustained growth of the Group, Yanlord has adopted a prudent and calculated expansion strategy in expanding its existing land bank. Leveraging on its experience in various cities where its operations are based, Yanlord actively seeks to secure commercially viable prime land bank in city-centric locations that will provide additional growth impetus for the Group. As at the end of 2017, Yanlord has a total land bank of approximately 6.74 million sqm.
- Within 1km (part of Leedon Green) to Nanyang Primary School
- Walking distance (700m/10 min walk) to Farrer Road MRT (Circle Line)
- Short drive or bus ride to Holland Village, Botanic Gardens, Dempsey Hill and Orchard Road
- District 10
- Good Class Bungalow neighbourhood
- Reputable developers
- Good size project so can expect good facilities
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