It's d'Leedon NOT D'Leedon: More info about launch

The wife and I have posted an article on Wednesday about d’Leedon (yes, it now looks like the first ‘d’ in d’Leedon is not capitalized). The ST today has provided more information about the launch of this new development.

Units will be launched at an average price of $1,680psf. That makes the cheapest apartments – 635sqft units with a bedroom and study (this ran contrary to earlier report by the BT that the smallest units in d’Leedon will be about 900sqft) – less than $1 million. A typical two-bedder of 1,055sqft would set a buyer back $1.5 million.

The project is on the site of the former Farrer Court estate, which was sold in a collective sale in 2007. A first phase of 200 units will be launched for sale this weekend to fromer Farrer Court residents. Developer CapitaLand said a public launch would likely follow soon after.

There has been a healthy level of interest among former Farrer Court residents, said Mr. Wong Heang Fine, chief executive officer of CapitaLand Residential. He told a briefing yesterday that 300 of the 600 former residents said they would attend a preview last night.

CapitaLand could adjust prices, depending on how this weekend’s launch goes. The 200 units being launched ranged from one- to four-bedroom apartments and are in two 36-storey towers. The entire project consists of 1,703 apartments in seven towers and 12 semi-detached villas.

Although d’Leedon sits on a huge site of over 840,000sqft, only 22% of the land area is being taken up by homes. The rest is slated for gardens, facilities such as two swimming pools and a gym and retail outlets, which could include restaurants, a Laundromat and a clinic.

And from a RODYK news report that we have managed to gather over the internet, the wife and I understand that the ex Farrer Court estate was sold to Morgonite Pte Ltd, a consortium comprising CapitaLand, Hotel Properties and Wachovia Development Corporation, in June 2007 for $1.3388 billion.

Each of the 618 owners received sums of $2.238 million or $2.722 million per unit, depending on the size of their units, which were either 1,615 sq ft or 1,453 sq ft. Based on the apartments' existing strata areas, the proceeds worked out to $1,386 psf and $1,460 psf respectively.

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