Midtown Modern banks on connectivity, greenery and full facilities
Midtown Modern banks on connectivity, greenery and full facilities. According to Alice Tan of Knight Frank, Midtown Modern, a 558-unit condominium by GuocoLand located at Tan Quee Lan Street in District 7, is the only condominium in the Downtown Core area with all the amenities, including a 3.8ha forest garden. The condo’s amenities include a 50-meter swimming pool, tennis court, opulent clubhouse with seats for more than 50 people, hot spring, tea store, and entertainment pavilions.
On August 13, during the EdgeProp Singapore NDP Master Plan Master Class webinar, Tan stressed that one of the elements influencing Midtown Modern’s high take-up rate is the variety of amenities available. Over 79% of the apartments have been sold, with an average price per square foot of $2,744, since the project’s start in March 2021, according to caveats submitted on August 16. The 99-year leasehold project’s connectivity is another important consideration. The Downtown and East-West Lines service the Midtown Modern, which is immediately above the Bugis MRT Interchange, providing residents with easy access to public transit.
The development, according to Tan, places a major emphasis on the outdoors, with more than a hectare of space devoted to gardens and landscaping. In contrast to the “concrete jungle” backdrop typically associated with the CBD, this gives a lot of softness to the development, she says. Two 30-story buildings make up Midtown Modern, and they are home to a variety of one-, two-, three-, and four-bedroom apartments, with sizes ranging from 409 square feet to 1,808 square feet. Additionally, there are two penthouses with respective square footages of 3,520 and 3,272.
Tan attributed the project’s first weekend sales of about 90% of the one- and two-bedroom units to strong investor confidence based on the project’s location inside the larger Guoco Midtown development, its accessibility, and its close proximity to stores and other amenities. It’s a fantastic investment product, she continues. Owner-occupiers, however, are very well taken care of because the building includes a wide variety of units, including larger three- and four-bedroom apartments. Tan goes on to note that the larger apartments also provide their owners more freedom because they may use one of the bedrooms for different things, like a home office or an entertainment area.
The Midtown Modern Sky-Bungalow Collection, which consists of six duplex apartments on levels 24 and up, was launched by GuocoLand in early July. A combination of two four-bedroom flats, each unit has five bedrooms and measures 3,616 square feet. Prices for the Sky-Bungalow Collection began at $15.5 million ($4,287 psf), and the penthouse unit on levels 29 and 30 was priced at $17 million ($4,701 psf). According to caveats filed with URA on July 11, the penthouse Sky Bungalow has been sold for $17 million, making it the development’s single-highest transaction and setting a new psf price record.
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