BT : UOL to release 80 more units at Spottiswoode

Business Times - 17 Nov 2010

UOL to release 80 more units at Spottiswoode

UOL Group said it is releasing another 80 units at its Spottiswoode Residences for the project's official launch today after finding buyers for 130 of the 150 units released last week during the project's preview.

The units sold thus far have achieved prices ranging from $1,720 psf to $2,150 psf. Four of the project's seven penthouses were sold, with one fetching $1,850 psf.

'Of the buyers, 86 per cent were Singaporeans who snapped up the higher-priced units which command sea views. They include doctors, professionals, bankers and businessmen . . . ' UOL said.

The freehold 36-storey development comprises 351 apartments - mostly one- and two-bedroom apartments. It is near Outram MRT Station.

The 130 units sold include about a dozen bought by former owners of apartments in the two developments that used to stand on the site - Spottiswoode Apartment and Oakswood Heights.

UOL acquired the two adjoining sites through separate collective sales in 2007. It paid $740 psf per plot ratio for Oakswood Heights; no development charge was payable for this site.

UOL bought the next-door Spottiswoode Apartment site for $732 psf per plot ratio including a development charge based on an earlier media report.

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