It is worthy to observe the rich experience both developers have with more than 3 decades each. The new Fernvale condo, Parc Botannia is situated on a 99 years lease site, 17,196.4 square meters at District 28. Inspired by High Park Residences, the Parc Botannia place is impeccable where dwellers get to enjoy the exclusive environment and yet near to heartlands with ease in your door step, according to Forbes
Expected to yield approximately 605 residential units, the Parc Botannia Sengkang, brought a whopping 14 developers with one of the closest bid conflict in history. The top bid submitted by Sing Development and Wee Hur development is a mere 0.005 percent greater than second place China Construction growth who submitted a bid of $289.09 million. Third place being Allgreen Properties at $286.9 million which is just 0.07 percent lower than the best bidding. Other bidders include the likes of MCL Land and Treasure view among the remainder. Actually, industry experts is anticipating a high bid of $272 million but the best four bids already has a minimum of $280.43 million, verifying the mass-market sentiments among the developers.
At $287.1 million, the best bid translates to $517.03 per square foot per plot ratio(psf ppr) and the anticipated Parc Botannia psf should be in the array of $1050 to $1200. Sitting right next to the top selling launching annually 2016, experts predict the take up need to be extremely healthy considering the prior sold more than 1000 units over the launch day itself.
With a slightly higher property price in High Park Residences, the Parc Botannia cost can also be expected to become steeper since the prior launch left several buyers disappointed when the more compact units were sold out first.
The Northeast area of Singapore has witnessed a good number of interests since its many private and even EC launch in the past 2 years. With totally no fresh supply today, it is safe to say that Parc Botannia Singapore will draw a tremendous amount of interest from buyers awaiting in the sideline.
The approximate Parc Botannia TOP date is roughly between third to fourth quarter of year 2020 where buyers can move in or rent out immediately following defects assessing.
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