Sloane Residences fully taken up at an average price of $2,882 psf

SINGAPORE (EDGEPROP) – Sloane Residences, the 52-unit development by TSky Development in District 10’s Balmoral neighbourhood, saw the final four units sold on Jan 7. This means that the development, which achieved its temporary occupation permit (TOP) on Nov 18, 2022, is now 100% sold.

The freehold development located along Balmoral Road was first launched for sale in June 2019. TSky Development is a 60:40 joint venture between Singapore-listed construction firms Tiong Seng Holdings and Ocean Sky International. Tiong Seng was also the main contractor for the project.

Housed in a 12-storey tower, Sloane Residences’ 52 units are made up of two-bedders measuring 743 sq ft and three-bedders starting from 1,249 sq ft. It also has four-bedroom units measuring 1,496 sq ft.

According to a spokesperson for TSky Development, the condominium achieved an average price of $2,882 psf. Caveats lodged with URA as of Jan 10 show transacted prices ranging from $2,664 psf to $3,339 psf.

About 70% of the buyers are Singapore citizens or permanent residents. The majority of buyers are also owner-occupiers. “Many buyers bought a unit at Sloane Residences due to its proximity to good schools, with Anglo-Chinese School (Primary) and Singapore Chinese Girls’ School both within a 1km distance from the development,” TSky Development’s spokesperson states.

Buyers were also attracted to the tranquil nature of the Balmoral residential enclave, while also being close to the Orchard Road shopping belt. TSky Development also highlights that there is a strong demand for new homes that are ready for moving in. “With Sloane Residences achieving its TOP in November, we were able to meet this wave of demand. At the same time, customers were able to view the actual unit and see the high-quality finishes and workmanship provided,” the company’s spokesperson adds.

Units at Sloane Residences feature regular layouts and ceiling heights measuring up to 6m. Fittings provided include kitchen appliances from V-Zug and sanitary fittings from Grohe.

Meanwhile, TSky Development also recently sold three units over the past two weeks at Cairnhill 16, its high-end condo located at the top of Cairnhill Rise in District 9. Based on caveats lodged at the end of December 2022, one of the units sold was an 11th floor, four-bedroom unit of 1,744 sq ft that fetched $4.8 million ($2,753 psf), while the other was a 1,055 sq ft, three-bedroom unit on the ninth floor that was sold for close to $2.85 million ($2,700 psf). The freehold 15-storey residential tower with 39 units was launched in November 2021. The recent sales at Cairnhill 16 follow a revamping of the project’s sales gallery and show units, with interior design done by Axis ID.

According to TSky Development, prices at Cairnhill 16 currently average around $2,950 psf. The project is slated to receive its TOP this year.

This version of article written by Atiqah Mokhtar and first appeared at EdgeProp Singapore.

Picture: Albert Chua/The Edge Singapore