Wednesday, November 24, 2010

D'Leedon (or Ex-Farrer Court) open for sale!

As the wife and I were busy moving into our “temporary shelter for the next year or so” yesterday, we only had the time to read the papers today.

It was reported in the BT yesterday that CapitaLand has started marketing D’Leedon, the 1,715-unit, 99-year leasehold residential project it will build on the site of the former Farrer Court.

The D’Leedon showflat has been built and agents have started distributing flyers to prospective buyers.

Units in the District 10 project on Farrer Road will mostly be priced upwards of $1,600psf for the most part.

In terms of the number of units, D’Leedon is believed to be the largest single condominium project ever in Singapore.

But CapitaLand is expected to rollout the projects only in phases.

The developer paid a record $1.3 billion for Farrer Court in a collective sale in June 2007 at the peak of the property boom.

That worked out to as much as $783psf of potential gross floor area.

In 2008, CapitaLand said the entire development would cost around $3 billion and would be in the recognised style of architect Zaha Hadid, the first female recipient of the coveted Pritzker Architecture Prize.

Patricia Chia, who was then head of CapitaLand’s residential arm, pegged the project’s breakeven cost at around $1,350psf to $1,450psf.

D’Leedon will comprise seven high-end residential towers and 12 villas.

The smallest condominium units will be about 900sqft, while some villas will be larger than 4,000sqft.

Zaha Hadid Architects’ design for D’Leedon consists of seven 36-storey, 150-metre towers that will appear to “grow” from sunken private gardens in the project’s landscape.

The towers themselves are sub-divided into “petals”, according to the number of residential units on each floor.

The tops of the buildings will be a series of "fingers" stepped at different heights.

Given the "upwards of $1,600psf" price-tag for D'Leedon, the wife and I certainly expect the quality of interior furnishings of D'Leedon to be much better than what we last saw at The Interlace. Marble floors for the living/dining area for starters, perhaps...?



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