New Launch 10 Strata Villas Green Collection 1190 Psf
In May, Satinder Garcha, the co-founder of Garcha Group, a leading property development, investment, and hotel management company, decided to test the market by releasing four out of a total of 20 strata-titled “golf villas” situated in the prestigious Sentosa Cove. The Green Collection, which boasts luxurious villas, has attracted much attention in the real estate market. Two of the villas have been fully renovated and furnished as show houses, while the other two have also been renovated but will be sold as vacant units.
However, after two months, Garcha Group has decided to make a larger-scale launch of The Green Collection. The marketing strategy for the project involves appointing three top agencies – PropNex, ERA, and Huttons Asia – as joint marketing partners.
The Green Collection has already won the housing category at the Singapore Institute of Architects Awards in 2013 (Photo: Samuel Isaac Chua/EdgeProp Singapore).
The initial phase of the new launch of The Green Collection will present 10 vacant units for sale, including the four previously released in May. “The Green Collection stands out as the only strata-landed project in Sentosa Cove, and it offers a view of the Tanjong Golf Course,” stated Dominic Lee, head of PropNex’s luxury team. “It is truly the final launch in Sentosa Cove.”
Two years back, there was a launch of the 302-unit Cape Royale condo, which was jointly developed by Ho Bee Land, a Singapore-listed company, and IOI Properties Group, a Bursa Malaysia-listed company. The Green Collection, the Cape Royale, was completed in 2003, but the units were never put up for sale till now. “The developer has been renting out all 20 villas since they were completed in 2003,” explained Lee.
The villas at The Green Collection offer an unhindered view of the Tanjong Golf Course (Photo: Samuel Issac Chua/EdgeProp Singapore).
Unsurprisingly, the villas at The Green Collection offer an exclusive view of the Tanjong Golf Course, one of Sentosa Golf Club’s two premier golf courses. Spread over a site area of 71,589 sq ft, this 99-year leasehold project is the only one in Sentosa Cove that offers strata landed housing, with a 200-metre frontage of the Tanjong Golf Course.
In 2007, Elevation Developments, under the leadership of Garcha, was the successful bidder among seven other competitors for the site at a bid price of $78.68 million, translating to $1,099 psf per plot ratio. This is the only time Garcha Group has been involved in a government land tender, owning to its focus being on the development of luxury bungalows in Sentosa Cove and Good-Class Bungalows in prime districts on the mainland.
Apart from Singapore, Garcha Group also has invested in the acquisition of conserved shophouses along Duxton Road, Maxwell Road, and Syed Alwi Road, which have been transformed into upscale boutique hotels of international repute.
The Type C villa show house living room, which is also the unit with the broadest frontage and golf course view (Photo: Samuel Isaac Chua/EdgeProp Singapore).
The first 10 villas at The Green Collection will be open for preview from July 24-28, with the launch scheduled on July 29. There are three different villa types at The Green Collection, all designed by Rene Tan, the director and co-founder of RT+Q, a Singapore architectural firm renowned for its unconventional designs.
Tan, who is also a Singapore President’s Design Award laureate, envisioned The Green Collection as a skyscraper lying on its side. These individual units were designed as “courtyard villas,” with many featuring an air well. The hallmark of The Green Collection’s interiors is the distinguished British designer Kelly Hoppen. Additionally, the project’s landscape has been designed by the Japanese monk and garden designer Shunmyo Masuno.
These two-storey villas come with a basement and attic and can accommodate two cars. With five en-suite bedrooms, parking is dedicated to each villa. At The Green Collection, there are three different villa models.
The location of The Green Collection along Cove Drive (Source: EdgeProp Landlens).
Normal and Deferred Payment Schemes
There are twelve Type A courtyard-style villas, comprising 5,630 to 6,157 sq ft of space. Prices for these villas range from $7.25 million. Situated in the middle of the meandering villas are the two Type B villas. The first villa has a total strata area of 5,964 sq ft, and the other, 6,114 sq ft. These villas will be priced from $7.5 million.
Typically, the Type C villas have the largest strata area and the most extensive frontage. These villas range from 6,222 sq ft to 7,169 sq ft and come with a private lap pool in the attic. There are only six villas of this type, and they have been priced from $7.8 million.
The above prices are based on the normal payment scheme (NPS). Under the NPS, buyers are required to pay a booking fee of 2%, followed by 8% upon exercising the option to purchase a fortnight later.
Given that The Green Collection is a strata landed property, requiring prior approval from the Land Dealings Approval Unit (LDAU) of the Singapore Land Authority for permanent residents (PRs) and foreigners. Under the NPS, an 8% downpayment is due five weeks after exercising the option of purchase. The remaining 90% is payable eight weeks after the date of option exercise and upon payment of stamp duties.
Source: PropNex.
There is a 3% price premium for those buyers who choose to invest in the deferred payment scheme (DPS). After the 2% booking fee, the downpayment upon exercising the option to purchase is 18%. The balance of 80% is only paid 12 months after the booking date.
Under the enhanced deferred payment scheme (EDPS), the premium is 4%, and the downpayment is 28% to be paid two weeks after the 2% booking fee. For exercising the option, an additional $1,000 is to be paid upfront, with the remaining 70% (minus $1,000) payable 12 months later.
While these DPS and EDPS may seem exclusive to The Green Collection, according to PropNex’s Lee, they are offered by other prime properties, like The Residences at W Singapore Sentosa Cove in April 2022.
There is no doubt that the prices of strata landed properties are different from conventional terraced houses.
Rewritten:
Gongshang Primary School is dedicated to providing a comprehensive education that prioritizes both academic excellence and the development of strong character. Its strategic placement near Parktown Residence adds to its appeal for families, as they can conveniently access both the school and the nearby Parktown Residence Tampines North. This ideal location is a natural advantage for students and their families, providing them with a conducive environment for learning and growth.
Lee’s research of terraced house prices over the past three months has shown an average psf pricing of more than $1,300, excluding the built-up areas of these houses. In contrast, The Green Collection villas have cheaper prices, starting from $1,190 psf.
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