Thursday, June 10, 2010

Heeton unveils Grange Road designer condo

SINGAPORE'S first apartments conceived by well-known design firm yoo were unveiled yesterday to upmarket buyers at possible prices of between $4 million and $10 million.

Three years after it bought the Grange Road site, developer Heeton Holdings showed off its innovative concept for the 30-unit designer condo iLiv@Grange. Most of the units are expected to command a price of more than $3,000 per sq ft.

It invited 160 potential buyers to the condo's show gallery yesterday evening, and is open to one-on-one price discussions with them.

Heeton chief operating officer Danny Low said most of the apartments would sell for more than $3,000 psf, in contrast to the surrounding projects' $2,700 to $3,500 psf going rate.

The firm is prepared to hold the project if need be, and will start construction soon, he said.

Former wet market operator Heeton bought the plot at around $1,706 psf per plot ratio - excluding development charges - back in the boom days of 2007.

And, like many other developers, it decided to delay the launch because of the global financial crisis.

In a bid to come up with a striking design and appeal to the high-end crowd, it has in the meantime switched the condo's architect from well-known local architect Timothy Seow and CPG Consultants to Italy's Mercurio Design Lab (MDL).

The result is that the 16-storey iLiv@Grange has morphed from the predictable rectangular-shaped condo that was originally planned, into a curvaceous facade that draws inspiration from the calla lily. Designer Massimo Mercurio told reporters yesterday that 'buildings need to be sexy'.

The landscaping and apartment interiors of iLiv@Grange are designed by yoo, founded by celebrated designer Philippe Starck and British developer John Hitchcox - who flew in for the media and potential buyers' session.

iLiv@Grange's one-, two- and three-bedroom apartments range from about 1,100 sq ft to 3,000 sq ft.

There are two double-storey penthouses at some 3,300 sq ft and 3,500 sq ft which come with three bedrooms, a private roof terrace and pool. Heeton is inviting price offers for the penthouses.

Each apartment is served by a private lift.

Mr Low said Heeton is considering holding a roadshow in Shanghai to showcase the development and will put a showflat at the site by the third quarter of next year.

Heeton's next project will be on the former Mitre Hotel site in Killiney Road. Designed by an unnamed British architect, it may be released for sale in the first half of next year.

And it is looking to relaunch The Lumos in Leonie Hill in July or August at $3,000 psf and upwards. The project was first released for sale in 2007.

Source: Straits Times, 10 Jun 2010

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