With the end of the Hungry Ghost Festival, some developers are rolling out new projects for private previews. Making its debut at the prime district 10 neighbourhood of Balmoral Road is Three Balmoral, a joint venture between the Teo family-owned Tong Eng Brothers and Henry Ng’s Clarus Corp. Ng’s family controls Pan-United, one of Singapore’s largest cement and concrete suppliers.
VIP previews at the freehold Three Balmoral is expected to start over the weekend of Sept 10 to 11. The existing 11-unit apartment block at 3 Balmoral Road will be redeveloped into a 40-unit, 12-storey block. Typical units in the new development will be a mix of one-bedroom-plus-study units of 614sqft as well as three-bedroom units of 1,528 and 1,539sqft. The project is scheduled to be completed in 2014.
“Our units may be compact in size, but we’re not developing shoebox apartments,” emphasises Teo Tong Lim, managing director of Tong Eng. “we also do not compromise on the layout of the units, which are squarish and practical.”
Prices will be in the range of $2,350 to $2,600psf, which translates to $1.5 million to $1.6 million for a one-bedroom unit and $3.5 million to $3.7 million for a three-bedroom unit, says the developer.
All the units, including the one-bedroom apartments, will come with private lift access. On the second level of the 12-storey development are two three-bedroom apartments, each with a private pool and priced at $4 million apiece. There are also four penthouses, of which two are triplex three-bedroom apartments with private pool and roof terrace. Measuring 3,746 and 3,757sqft respectively, they cost just under $7 million each. The other two penthouses are two-bedroom duplex apartments of 1,249sqft each, and priced around $3 million.
The new condo at Three balmoral will be raised 10m above street level and, therefore, most apartments will get unobstructed views of Goodwood Hill, as directly across the development is a colonial bungalow and not another 12-storey condo block, says Teo. “Such views are quite rare along Balmoral Road,” he adds.
As Three Balmoral is located close to Stevens Road, it is less than a five-minutes drive to Orchard Road. It’s also close to good schools such as Anglo-Chinese School (Barker Road), Raffles Girls’ Secondary School and Singapore Chinese Girls’ School. The project is therefore expected to attract a mix of owner-occupiers and investors.
According to Joseph Tan, executive director of residential at CB Richard Ellis (CBRE), the last condominium launch in the Balmoral area was two years ago – for the 85-unit Volari in July 2009. CBRE is the sole marketing agent for Three Balmoral.
Source: THEEDGE SINGAPORE