The Business Times
Tuesday, 14 July 2021
A FOUR-BEDROOM unit at Shun Tak Holdings’ luxury 14-unit Les Maisons Nassim at Nassim Road was snapped up in early May for S$39 million, or S$5,930 per square foot (psf).
The 6,577-sq-ft unit, which appears to be the first transaction for the project, was bought by a buyer from overseas, The Business Times understands.
Marketing agent SRI brokered the deal.
Bruce Lye, co-founder of SRI, said: “Buyers recognise the Shun Tak brand and have seen other projects in Hong Kong and Macau. This is a reason for the level of confidence in the product.”
In response to queries from BT, developer Shun Tak said that “a few units” have been reserved, and are pending finalisation of sales documentation.
Located in the coveted Nassim enclave, the low-rise freehold project in district 10 sits on a 66,453 sq ft site and consists of three blocks, with 14 units in total. Eight are simplexes, four are duplexes and two are penthouses. It is expected to reach its temporary occupation permit (TOP) in H1 of 2023.
The two penthouse units are over 12,000 square feet (sq ft) in size; the duplex units range between 8,633 and 8,730 sq ft in size.
The Hong Kong-listed conglomerate founded by casino tycoon Stanley Ho, is concurrently marketing Park Nova, a super-luxury freehold development at 18 Tomlinson Road, its maiden residential project in Singapore.
Fourteen of the 54 units at Park Nova have been sold, including the three penthouses. The biggest one, at 5,899 sq ft, fetched S$34.438 million (S$5,838 psf); the four-bedroom, 4,499 sq ft penthouse was sold for S$26.026 million (S$5,784 psf). The third penthouse, at 3,229 sq ft, was transacted at S$17.178 million (S$5,320 psf).
Not far from Park Nova, Shun Tak is also developing a site on Cuscaden Road into a five-star hotel with 142 rooms. It also owns the commercial building, 111 Somerset along Somerset Road.