THE much-anticipated project (D’Leedon) to be built on the former Farrer Court site is expected to be previewed later this month after almost two years of delay.
The 99-year leasehold project, consisting of seven 36-storey towers and located on a 838,488 sq ft site, will include one- to four-bedroom apartments, penthouses and 12 strata villas.
The expected average price across the project will be in the $1,600 to $1,800 per sq ft (psf) range.
However, with City Developments’ freehold project, The Glyndebourne, in the vicinity selling at an average price of $2,100 psf, smaller units might fetch comparable prices as well, they added.
A preview will be held for the developer’s invited guests on Thursday and for ex-owners of the former HUDC estate on Friday.
One-plus-study units will range from 592 sq ft to 840 sq ft, two-bedroom units will be between 786 sq ft and 1,216 sq ft, while three-bedroom apartments will be between 1,076 sq ft and 1,668 sq ft.
The project is designed by world renowned Pritzker Architecture Prize winner Zaha Hadid – the award’s first female recipient – and is expected to be completed in 2014.
CapitaLand had bought the site in a collective sale in 2007 for a record $1.34 billion.
The upmarket condo was to have been launched for sale in the first half of last year and then in the first half of this year but had been delayed owing to market conditions.
Initially, about 1,500 generously sized units were planned.
CapitaLand is developing the 99-year leasehold plot with three partners. Hotel Properties and a Morgan Stanley Real Estate fund will each hold 22.5 per cent, while Wachovia Development will take 20 per cent.