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A Successful En-Bloc of Crystal Tower

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PROJECT DETAILS

 
 

Crystal Tower, a freehold development along Ewe Boon Road, Core Central Region of Singapore, has been sold to AllGreen through a collective sales, in the 4th quarter of 2017, for S$180 million. The owners each got an average of between S$6 million and S$6.6 million. The penthouse owner will receive about $12.3m.


Built in the 1970s, Crystal Tower is a residential development with 28 apartment units. The property sits on elevated grounds with a land area of approximately 5,619.0 sqm (60,482 sqft) and is zoned for residential use at a gross plot ratio of 1.6 under Master Plan 2014.


New Condo at Ewe Boon Road, former site of Crystal Towers- Connectivity
New and upcoming Condo at former site of Crystal Towers site is about 900 m from Newton (NS21) North South Line Train which is 1 stop away from Orchard Prime Shopping District and 4 stops away Raffles Place. New Condo at former Crystal Towers site is also just 3 train stations away from Dhoby Ghaut MRT Interchange where its future residents can make use of the Circle Line Service and North East Line Service available there. The Stevens Downtown Line Station which is 700 m away is also due to complete in 2015 which allows easier commuting for future residents to various parts of the island. For drivers, Orchard is just 4 minutes’ drive away while it takes 7 minutes to get to Shenton Way from new condo. New Condo at former site of Crystal Towers is also easily connected to the Central Expressway (CTE) and the Pan Island Expressway (PIE).

 

New Condo at Ewe Boon Road- former site of Crystal Towers- Education
New Condo at former site of Crystal Towers is close to reputable schools such as Anglo-Chinese Primary School, Singapore Chinese Girls’ School, St. Joseph’s Institution, Anglo-Chinese Junior School and Raffles Girls’ Secondary School and Anglo-Chinese School (Barker Road). There are also 8 international schools that are within 2 km from new condo at site of Crstal Towers, namely Chinese International School, Korean Church Kindergarten, Italian Supplementary School, ISS International School (Elementary), Chatsworth International School (Orchard Campus), Overseas Family School, Finnish Supplementary School and Swedish Supplementary School. With these international education facilities nearby, New Condo at former site of Crystal Towers will be appealing to expat families living in Singapore.

 

New Condo at Ewe Boon Road- former site of Crstal Towers- Amenities
For retail and dining options, there are numerous shops and F&B outlets that are located at Orchard that are just minutes away. New and upcoming condo at site of Crystal Towers can also indulge in local delights at the famous Newton Food Centre or Adam Road Food Centre that is just within a short drive. These 2 food centres host a number of cooked food stalls which offers future residents a wide variety to choose from.

 

New Condo at the former site of Crystal Towers is surrounded by prestigious clubs such as The Pines Club, Tanglin Club, Raffles Town Club, The American Club and Singapore Polo Club. Its future residents can also relax by taking a short stroll or having a jog at the Singapore Botanic Gardens which is less than 1.5 km away. For those who like golf, the Tanglin Golf Course is just a short drive away.


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Heart of New Central
Financial District
Marina One Residences

Heart of Tanjong Pagar
Financial District
Wallich Residence with
181 Limited Collection
Super Penthouse at 21,108sqft

Other Developments in
Core Central Region
 
 
 
 
 
 
Project  New Condo at Former site of Crystal Tower
Developer  AllGreen
Location  Ewe Boon Road
District  10
Tenure  Freehold
Site Area  5,619 square metres/ 60,482 square feet
GFA:
Plot Ratio  1.6
Expected TOP:
Total Units  Approximately residential apartments
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION and AMENITIES

Amenities Near New Condo at former site of Crystal Towers

Category Important Amenities Near Crystal Towers for Condo Redevelopment Approximate Distance
Train Stations Stevens MRT (DT10/TS11) Downtown Line Due 2015, Thomson Line Due 2021
Newton (NS21)
0.7km
0.9km
Bus Stop Opp Swiss Cottage Primary (Bus: 48, 66, 67, 170, 171, 700, 700A, 960)
Raffles Girls’ School (Bus: NR2, NR3, 105, 132, 190)
0.4km
0.4km
Supermarkets Cold Storage
Jasons
NTUC
0.6km
1.0km
1.6km
Shopping Malls Balmoral Plaza
Orchard Towers
DFS Galleria Scottswalk
Far East Plaza
Pacific Plaza
Tanglin Shopping Centre
Forum The Shopping Mall
Shaw House
Scotts Square
Wheelock
ION Orchard
0.5km
1.0km
1.0km
1.0km
1.1km
1.2km
1.2km
1.2km
1.2km
1.3km
1.3km
Education Institutions Preschool
Barker Road Methodist Church Kindergarten
Far Eastern Kindergarten
Gracefields Kindergarten
Little Woods Montessori Pre-School
Newton Kindergarten
Montessori For Children
GUG Kindergarten
Thomson Road Baptist Kindergarten
Derbyshire Kindergarten
Christ Church Kindergarten
0.5km
0.8km
0.8km
0.9km
1.1km
1.2km
1.4km
1.6km
1.7km
2.0km
Primary
Anglo-Chinese Primary
Singapore Chinese Girls’
St. Joseph’s Institution
Anglo-Chinese Junior
Balestier Hill
0.6km
0.6km
0.8km
1.4km
1.8km
Secondary
Raffles Girls’
Singapore Chinese Girls’
Anglo-Chinese (Barker)
St. Joseph’s Institution
Balestier Hill
0.5km
0.6km
0.7km
0.8km
1.8km
Junior College
Catholic JC 1.1km
Tertiary
NUS Faculty of Law (Bukit Timah Campus) 1.4km
International
Chinese International School
Korean Church Kindergarten
Italian Supplementary School
ISS International School (Elementary)
Chatsworth International
Overseas Family School
Finnish Supplementary School
Swedish Supplementary School
0.5km
0.7km
1.4km
1.6km
1.7km
1.7km
1.7km
1.9km
Food Centre Newton Food Centre
Adam Road Food Centre
1.1km
2.0km
Lifestyle The Pines Club
Tanglin Club
Raffles Town Club
The American Club
Singapore Polo Club
The French Chamber of Commerce in Singapore
Singapore Botanic Gardens
National Orchid Garden
Tanglin Golf Course Country Club
Celebrities Resort Club
0.3km
0.7km
0.9km
0.9km
1.0km
1.2km
1.7km
1.7km
1.7km
1.9km

FACILITIES and SITE PLAN E-BROCHURE

The Facilities and Site plan of new condo launch at the former site of Crystal Tower, along Ewe Boon Road are currently seeking approval from relevant authorities. 

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RESIDENTIAL FLOOR PLANS E-BROCHURE

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CRYSTAL TOWERS SITE SOLD TO ALLGREEN THROUGH COLLECTIVE SALES FOR CONDO REDEVELOPMENT

The freehold Crystal Tower has been sold en bloc for $180.65m or $1,840 psf ppr, Edmund Tie & Company SEA Pte Ltd (ET&Co) revealed.

According to a press release, Allgreen Properties Limited won amongst 12 bids.

Based on the sale price, each apartment owner is expected to receive gross sale proceeds of between $6m to $6.6m, whilst the penthouse owner will receive about $12.3m.

Built in the 1970s, Crystal Tower is a residential development with 28 apartment units. The property sits on elevated grounds with a land area of approximately 5,619.0 sqm (60,482 sqft) and is zoned for residential use at a gross plot ratio of 1.6 under Master Plan 2014.

Subject to authorities’ approval, it can be redeveloped into a condominium project of around 130 dwelling units, up to its existing gross floor area of 9,121.17 sqm (98,179 sqft), reflecting an equivalent plot ratio of 1.623. No development charge is payable.  

Edmund Tie & Company, which marketed the estates, said competition for both was intense, with Royalville attracting nine bids from local and foreign developers, and Crystal Tower drawing 12.

Allgreen is not new to the Bukit Timah precinct, having developed freehold condominiums The Cascadia, which was launched in 2007, and Bukit Regency, which was released in 1998.

The last time Allgreen won a site in Singapore was in 2011, when it bought a 99-year leasehold plot in Upper Serangoon Crescent under the Government Land Sales (GLS) programme for $270.28 million, or $291.39 psf ppr.

It developed this into the 928-unit Riversails condominium.

Allgreen's bids this time could translate to an estimated break-even price of $2,500 to $2,600 psf for Royalville, and $2,400 to $2,500 psf for the Crystal Tower site.

These could mean selling prices of up to $2,900 psf for new units on the Royalville site and $2,800 psf for those on the Crystal Tower plot, say consultants.

About 25 residential sites sold en bloc since last year have clocked up a total value of $8.4 billion.

Colliers International head of research Tricia Song noted that this is 38.5 per cent of the $21.8 billion transacted for all sites in the last collective sale wave of 2005 to 2007. "Barring any unforeseen events, there is probably room for more collective sales going into 2018," she said.

Source: Straits Times 1st December 2017

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