Property acquisition and redevelopment, as well as profit sharing
The former Watten Residences are a brand-new freehold condominium that is located in the vicinity of Shelford Road. The upcoming development is located in Bukit Timah, and has the closeness of Tan Kah Kee MRT Station (DT8) and Botanic Gardens MRT Station (CC19) on the Downtown Line (DTL) and the Circle Line (CCL). With 286 residences located in five-storey blocks is sought-after due to its ideal area. Apart from the short walk to the best schools in Singapore and the surrounding areas, you can enjoy the numerous restaurants and shopping options in the area and soak yourself in the beautiful paths and lush greenery to enjoy a an unhurried, peaceful and peaceful life.
Watten House condominium development that is located on Shelford Road, District 11 Singapore. This freehold development covers an area of 220,241 square feet. UOL Group and Singapore Land Group (SingLand) have won the bid with a bid of $550 million in the bid for Warren Estate Condominium in 2021 and plan to develop the property into a condominium, which will comprise 286 residential units, with a minimum size of 100 square metres.
Watten House is situated 350m away of Tah Kah Kee Mrt Station. Within its vicinity is Coronation Shopping Plaza, King's Arcade Shopping Centre, Crown Centre, Cluny Centre, Serene Centre and Adam Road Food Centre. The property is located in the most sought-after residential enclave in Watten Rise, Watten House is situated within a mile of the prestigious schools like Nanyang Primary school as well as Raffles Girls School.
UOL Group and Singapore Land Group (SingLand) have reached an agreement to purchase Watten Estate Condominium (WEC).
This transaction marks a 10.2 percent premium above the minimum price of S$500 million stated by the property's marketing firm JLL on September 20, 2021. The WEC previously had a collective auction in July of 2019 with a reserve price of $536 million. The property was first put up for sale in 2007 at a price of S$480 million.
The bourses of their respective firms submitted files on Thursday (Oct 28), UOL and SingLand stated they had awarded to their joint venture 80:20 (JV) that is comprised of United Venture Investments (UVI) and Singland Residential Development (SRD). UVI and SRD are both wholly owned subsidiaries of UOL and SingLand. UOL, formerly known as UIC (United Industrial Corporation), is the primary shareholder in SingLand. According to its share of ownership in the JV, UVI will pay 80% of the purchase price, or S$440.6 million, while SRD will pay the remaining 20%.
The acquisition of WEC is part of the normal procedure of business, and will allow both companies in replenishing their land reserves for development of residential properties in Singapore according to both parties on their press releases. SingLand also stated that the JV partners plan to transform it into a condominium. property to a condo subject to approvals from the relevant authorities. Both JV parties are planning to formalize the terms of their agreement in relation to the acquisition of the property and its redevelopment as well as share the profits and risks according to their subsidiary stakes in the equity of the JV.
In situated in a high-end district that is renowned for its prestigious schools and luxurious residential estates and the Watten House condo is among Singapore's most sought-after locations to live in, with a high percentage of good-quality bungalows (GCBs) within the vicinity.
Private enclave situated within Botanic Gardens & Tan Kah Kee MRT Station. Shop at a variety of stores including FairPrice Finest, Cold Storage and Coronation Shopping Plaza within just 10 minutes of walking. If you are a shopper, ION Orchard, 313@Somerset and Ngee Ann City are just an easy drive from the hotel.
The former Watten Estate Condominium connected to major expressways, such as the PIE AYE, CTE and BKEsurround the development, ensuring an uninterrupted connection with Orchard, Central Business District as well as other significant locations in Singapore.
220,241 square feet fresh development site completed with UOL Group and Singapore Land Group (SingLand) receiving the top bid of $550.8 million ($1,723 per square foot) to build Watten House. The residential building is comprised of five storeys and 286 housing units.
Watten House comes with many condominium amenities that allow you to find the most unique spots for activity in the tranquility of the natural.
Make unforgettable memories with your loved ones, family and coworkers for a night of barbecuing and fun in a relaxing and casual atmosphere. Make it a point to celebrate your birthdays, anniversary celebrations or host a celebration inside your outside Pavilion as well as the Clubhouse.
This home is the ideal spot to host social gatherings and meet your guests to have a time. For children there are dedicated areas such as the playground for children, play pool and the pet's lawn as well.
Choose between 1 and 4 bedrooms or penthouses featuring well-appointed interiors and clever designs. Get the best kitchen appliances as well as fittings.
From the beautiful surroundings to the serene and tranquil setting, enjoy an extravagant lifestyle and enjoy a contemporary and elegant lifestyle at Watten House right now.
Watten House is located close to The Central Catchment Area, also called the "Green lungs of Singapore".
You will be surrounded by nature since the residence is located only a short walk from the most famous nature spots like MacRitchie Reservoir, Bukit Timah Nature Reserve and Singapore Botanic Gardens.
With an abundance of amenities within the property, Watten House is the ideal example of luxurious and intelligent living. Residents can look forward to taking advantage of the wide selection of community facilities as well as retail and recreational options and the opportunity to work close to the home of their choice.
In Bukit Timah, one the most sought-after areas in Singapore Watten Estate Residences are brimming with top-quality eateries and retail options. Residents can choose from a range of dining options, from local cuisine at Adam Road Food Centre, cafes and bakeries like Lana Cakes, Baker & Cook or elegant dining options at Rubato, La Braceria Pizza & Grill, Nami Korean Grill House or Roots Mediterranean. Grocery shopping is also easy, thanks to supermarkets such as FairPrice Finest, Giant and Cold Storage available in the close vicinity.
Watten House Residences are just one minute away from the town center for you to fulfill your needs for shopping. There are many popular malls like Plaza Singapura, ION Orchard, Orchard Central, 313@Somerset, and Bugisplus. In addition, the neighborhood of Coronation Shopping Plaza is less than 10 minutes drive from the area.
For parents of school-going children, schools with a reputation for providing excellent education like Raffles Girls' Primary School, Nanyang Primary School, Nanyang Girls' High School, Singapore Chinese Girls' School, Methodist Girls' School, St Margaret's Secondary School, Hwa Chong Institution and National Junior College are all in close proximity to Watten Estate Residences.
Residents can also enjoy themselves in the nearby recreation facilities. You can walk for about 20 minutes up to Singapore Botanic Gardensor Macritchie Reservoir for an evening stroll or stroll around Singapore's top natural spots such as Gardens by the Bay as well as Marina Barragewhich are only 10 minutes from the property.