Register now and get the best possible deals from the developers. If you are affected by the new cooling measures and want to take advantage on them to stay invested, or lock in your profits, let us know your concern and we are glad to assist you.

Click Here To Minimize / Maximize

PROJECT DETAILS

 
 

Located in one of Singapore’s most affluent and highly sought-after neighbourhoods, Spring Grove enjoys close proximity to the vibrant Orchard Road shopping district, Singapore’s renowned retail and entertainment hub. Its immediate locality is predominantly upscale residential in nature, comprising landed housing and high-rise residential developments.

The site is a short drive away from established Local and International schools, namely ISS International School, Overseas Family School, Norwegian Supplementary School, Finnish Supplementary School and Raffles Girls’ School. Esteemed medical institutions, including Mount Elizabeth Hospital, Gleneagles Hospital and Camden Medical Centre, are also a stone’s throw away. The site is also in the vicinity of embassies such as the Embassy of the People’s Republic of China, British High Commission and many 5-star hotels, including Four Seasons Hotel and The St. Regis.

The site has an extensive land area of 24,481.2 sq m (approx. 263,513 sq ft or 6.2 acres). It currently comprises 3 blocks of 20-storey apartments with 325 residential units and the conserved Spring Grove House. Under the Master Plan 2014, the site is designated as “Residential” with a Gross Plot Ratio (GPR) of 2.1. At GPR 2.1, it can be redeveloped up to a maximum permissible Gross Floor Area (GFA) of approximately 553,377 sq ft. 

“Being the largest residential plot along Grange Road, the site offers an exceptional redevelopment opportunity for developers to design, plan and build an iconic residential development that could surpass all others, hence cementing their presence in one of Asia's most desired residential estate. It is also one of the few residential plots remaining in the Orchard area to be made available for redevelopment into a large-scale luxury condominium.”

Located within the site is the conserved Spring Grove House, which was built in the late 19th century. Previously an Ambassadorial residence, the Neo-Classical Victorian styled bungalow was also the former residence of several renowned businessmen in Singapore. It is currently integrated within the existing development as a clubhouse.

“You are not just buying a piece of prime land, but also the beautiful history behind Spring Grove House. The conserved bungalow has a historical link with Singapore’s early pioneers,” says Mr Ian Loh.

The owners of Spring Grove are expecting offers in excess of S$1.39 billion, which is inclusive of the lease top-up premium for a fresh 103-year lease. This translates to a land price of approximately S$2,512 psf ppr based on the maximum permissible GFA of approximately 553,377 sq ft. 


“Breakeven cost is expected to be around S$3,400 psf to S$3,500 psf. Luxury apartments in the new development could be sold for between S$3,800 psf and S$4,200 psf if it is launched for sale within the next few years. Residential units at the nearby freehold TwentyOne Angullia Park have registered sale prices of between S$4,704 and S$5,560 psf since 2013, whilst units at the nearby The Orchard Residences, a 99-year leasehold development, have been transacted at S$3,417 to S$4,312 psf over the same period,” says Mr Loh. “If the site is successfully transacted, it will be the largest ever enbloc sale in Singapore.”
 
As Spring Grove is located within the Central Area, the proposed new development is not affected by the maximum allowable number of units for non-landed residential developments. The Urban Redevelopment Authority (URA) guidelines set minimum average sizes of 70 sq m or 100 sq m for new dwelling units in non-landed residential developments located outside the central area.

According to the latest data from Urban Redevelopment Authority, the upcoming supply of residential units in Core Central Region (CCR) is expected to taper, as there are limited new upcoming projects in the prime location. The number of upcoming units in the region is expected to fall by about 19.8 per cent y-o-y from 4,565 units in 2014 to 3,660 units in 2015.

 

New condo at Grange Road at site of Spring Grove- Connectivity
New and upcoming condo is approximately 900 m away from Orchard North South Line Station. It is just 4 stations away from Raffles Place. Future residents of New Condo at site of Spring Grove can transit to the Circle Line and the North East Line at Dhoby Ghaut MRT Interchange Station which is 3 stations away. The Orchard Boulevard Train Station which serves the Thomson Line will go into full operation in 2021. This train station is located at Camden Medical Centre which is just 600 m away from New Condo at site Spring Grove. By then, the complete MRT network system will allow New condo at Spring Grove future residents to travel to various parts of the island at ease.  It takes just a 5 minutes’ drive to get from New Condo at site Spring Grove to the downtown financial district. New Condo is also well linked to the Central Expressway (CTE) which brings drivers to other major expressways.

 

New Condo at Grange at site of Spring Grove- Education
New and upcoming condo at site of Spring Grove is close to schools such as River Valley Primary School, Zhangde Primary School, Gan Eng Seng Primary School, Gan Eng Seng Secondary School, Crescent Girls’ Secondary School, Queenstown Secondary School, Henderson Secondary School, Raffles Girls’ Secondary School and Outram Secondary School. Undergraduate and postgraduate degree programmes providers close to new condo at Spring Grove are The University of Chicago Booth School of Business and Singapore Management University. There are also a number of international schools that are within walking distances such as  Overseas Family School, International School Singapore, Norwegian Supplementary School and Finnish Supplementary School.

 

New Condo at Grange Road at site of Spring Grove- Amenities
In terms of retail therapies, a stroll will take future residents of Spring Grove to the Prime Orchard Shopping District, where all the main retails and shopping centres are located. There are also many bistros and restaurants host at Orchard Road. Some of the shopping malls within short radius are Valley Point, Great World City, Tanglin Mall, Wheelock Place, ION Orchard, Wisma Atria, Tanglin Shopping Centre, Shaw House, Forum The Shopping Mall, Tang Plaza and Lucky Plaza. In terms of local delights, there are 8 main food centres to choose from i.e. Zion Riverside Food Centre, Beo Crescent Block 38A Market and Food Centre, Havelock Road Block 22A Food Centre, Redhill Lane Block 85 Food Centre, Bukit Merah View Block 115 Market And Food Centre, Tiong Bahru Market, Kukoh 21 Food Centre and Bukit Merah Central Block 163 Food Centre.

There are also prestigious clubs located near New Condo at site of Spring Grove such as The American Club, The Pines Club and Tanglin Club. New Condo at site Spring Grove future residents can take a stroll, jog or simply just enjoy a moment of peace while enjoying the greenery at the nearby Singapore Botanic Gardens. For those who like golf, the Tanglin Golf Course is just a short drive away from New condo at Spring Grove.


We expect Singapore’s real estate market to see sustained demand from foreign homebuyers and investors due to its strong economic fundamental and attractiveness as a safe haven and a liveable city. Spring Grove is located in the very heart of the CCR where there is a limited supply of land, which will bond well for the buyer to build the next award winning iconic development in Singapore.

 

 

 


Other Developments in
Core Central Region
 
 
 
 

Heart of New
Central Business District
 
 

 Heart of Tanjong Pagar Financial District
 
Wallich Residence with
181 Limited Collection and
Super Penthouse
at 21,108sqft
 
 
Project  New Condo at site of Spring Grove
Developer
Location  Grange Road
District  10
Tenure
Site Area
GFA:
Plot Ratio
Expected TOP:
Total Units
Total Carpark
Development  Condo comprising of communal faiclities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION and AMENITIES

 Condo- Spring Grove

Amenities Near Spring Grove

Category Important Amenities near Spring Grove Approximate Distance
Train Stations Orchard MRT (NS22)
Orchard Boulevard MRT Thomson Line Due 2021
0.9km
0.6km
Bus Stop Lucky Twr (Bus: 75)
Opp Lucky Twr (Bus: 75)
Grange 80 Condo (Bus: 75)
0.1km
0.1km
0.2km
Supermarkets Cold Storage
NTUC
Giant
Sheng Siong
0.6km
1.3km
1.7km
2.1km
Shopping Malls Valley Point
Great World City
Tanglin Mall
Wheelock Place
ION
Wisma Atria
Tanglin Shopping Centre
Shaw House
Forum
Tang Plaza
Lucky Plaza
0.6km
0.8km
0.8km
0.8km
0.8km
0.8km
0.9km
0.9km
0.9km
0.9km
1.0km
Schools Preschool
Little Hands Montessori Kindergarten
Kay Poh Road Baptist Kindergarten
JHS Montessori Kindergarten
PCF Kreta Ayer-Kim Seng Blk 79
Wee Care @ The Polliwogs Kindergarten
White Lodge Kindergarten (Phoenix Park)
PCF Radin Mas Blk 70A
PCF Radin Mas Blk 87
Chinese Kindergarten
YWCA Kindergarten
0.3km
0.4km
0.6km
0.9km
0.9km
1.3km
1.6km
1.6km
1.8km
1.8km
Primary
River Valley Primary School
Zhangde Primary School
Gan Eng Seng Primary School
1.2km
1.5km
1.9km
Secondary
Gan Eng Seng Secondary School
Crescent Girls’ Secondary School
Queenstown Secondary School
Henderson Secondary School
Raffles Girls’ Secondary School
Outram Secondary School
1.1km
1.1km
1.4km
1.4km
1.5km
1.7km
Junior College
Catholic JC 2.6km
Tertiary
The University of Chicago Booth School of Business
Singapore Management University
1.2km
2.0km
International
International School Singapore (Paterson Campus)
Overseas Family School
Finnish Supplementary School
Swedish Supplementary
Chatsworth International School (Orchard Campus)
Etonhouse International School
0.6km
0.6km
0.7km
1.2km
1.4km
2.0km
Food Centre Zion Riverside Food Centre
Beo Crescent Block 38A Market and Food Centre
Havelock Road Block 22A Food Centre
Redhill Lane Block 85 Food Centre
Bukit Merah View Block 115 Market And Food Centre
Tiong Bahru Market
Kukoh 21 Food Centre
Bukit Merah Central Block 163 Food Centre
0.9km
1.1km
1.2km
1.5km
1.5km
1.6km
1.9km
2.0km
Lifestyle The American Club
Tanglin Club
Tanglin Public Golf Course
The Pines Club
Automobile Association of Singapore
HomeTeamNS @ UE Shopping Mall
Delta Sports Complex
Singapore Botanic Gardens
0.7km
0.9km
1.3km
1.4km
1.4km
1.5km
1.9km
2.0km

FACILITIES and SITE PLAN E-BROCHURE

Spring Grove Condominium

RESIDENTIAL FLOOR PLANS E-BROCHURE

PRICE TRENDS FOR DEVELOPMENTS IN DISTRICT 09 AND 10

“Breakeven cost is expected to be around S$3,400 psf to S$3,500 psf. Luxury apartments in the new development could be sold for between S$3,800 psf and S$4,200 psf if it is launched for sale within the next few years. Residential units at the nearby freehold TwentyOne Angullia Park have registered sale prices of between S$4,704 and S$5,560 psf since 2013, whilst units at the nearby The Orchard Residences, a 99-year leasehold development, have been transacted at S$3,417 to S$4,312 psf over the same period,” says Mr Loh. “If the site is successfully transacted, it will be the largest ever enbloc sale in Singapore.”

TOP BID FOR CONDO SITE IN SPRING GROVE

One property expert is questioning whether Spring Grove condominium, in the upscale Grange Road precinct, can secure the eye-popping $1.39 billion price sought in a collective sale.

The 325-unit condo would set a record for the largest collective sale concluded if its ambitious asking figure is met.

Spring Grove enjoys a premier location - nestled in a coveted residential enclave and also close to Orchard Road.

If sold, the price would work out to a breakeven price of $3,370 per sq ft (psf), analysts estimated. This translates to an expected selling price of $3,700 psf for the site's new development, assuming its developer plans for a slim profit margin of 10 per cent, they said.

Ms Christine Li, research head at OrangeTee, noted that new projects in the area can be expected to go for $2,800 to $3,200 psf today.

"It seems the Spring Grove price does not make sense," said Ms Li. "Developers would be taking a huge risk [with] such a large project in view of the Additional Buyer's Stamp Duty and qualifying certificate rules, together with the current tepid market conditions."

Foreign developers require a qualifying certificate to hold land in Singapore, and are given up to two years after obtaining the temporary occupation permit to sell all units. If they fail to do so, charges based on the proportion of unsold units will be levied.

Although the high-end market has been the biggest loser after stiff cooling measures were imposed on buyers, market watchers said the Grange Road area will not lose its shine given the quality of its projects and proximity to the shopping belt of Orchard Road.

Moreover, interest rates are expected to remain low in the near term, while Singapore is home to a growing pool of millionaires and affluent investors, they said.

Projects that have sprung up in the vicinity include SC Global's 66-unit The Marq on Paterson Hill, OUE's 462-unit Twin Peaks in Leonie Hill Road and Far East Organization's 28-unit Boulevard Vue in Cuscaden Walk.

Median prices of new units sold at these projects over the past two years were between $3,000 and $5,000 psf, figures from the Urban Redevelopment Authority show.

Since the total debt servicing ratio lending rules were introduced in June last year, deal making in the area has ground to a halt, said Ms Li. There were just 10 units sold in the first half, down from the 31 transactions a year ago.

"Many developers of new high-end projects in this area are proceeding with construction works, but have held back on high-profile project launches," noted Ms Elaine Chow, research head at Chestertons.

Examples include Bukit Sembawang's 85-unit Paterson Collection in Paterson Road as well as City Developments' 124-unit New Futura in Leonie Hill Road and 174-unit Gramercy Park in Grange Road.

Median resale prices have slipped as a result of slowing demand. They fell 20 per cent from $2,532 psf in the third quarter of last year to $2,018 psf in the second quarter this year, said Ms Chow.

On the leasing front, rents have fallen by 3 per cent in the first half, down from a 1.6 per slip in the second half of last year, DTZ data shows.

While rental data in the vicinity is limited, anecdotal evidence hints at a weakening market. For instance, a 2,600 sq ft four-bedroom unit at Grange Infinite that could fetch a monthly rent of $16,000 about a year ago is being marketed at $13,500 to $15,000, Ms Chow noted.

Despite the slow activity in the luxury segment, Ms Li suggested it could be the first to gain if the cooling measures are lifted. "The activities in this segment have little impact on the affordability and stability of the overall residential market in Singapore," she said.

CONTACT US

You are only one-step away from owning a unit New Condo in Spring Grove, Grange Road.

Thank you for Your interest in New Condo in Spring Grove.

Be among the first to view and book New Condo in Grange Road, a new life-style in site of Spring Grove, at the lowest pre-launch price

Enjoy attractive prices before the official public launch. Be the first to secure your choice unit

  • Latest updates on the development
  • Priority unit choice and selection
  • Enjoy early-bird VVIP Discounts
  • Direct Developer price
  • No Commission payable

Register for a copy of New Condo in Spring Grove, Floor plans, E-Brochure, Pricing and Latest Updates!

vvip-preview

What is 3 + 2 :