Friday, December 30, 2011

All 338 units sold at Far East's The Tennery

Straits Times: Fri, Dec 30
ALL units of The Tennery, a home office or so-called Soho-style project in Bukit Panjang, have been sold, developer Far East Organization said yesterday.

It said all 338 of the 'small office, home office' (Soho) apartments were sold over the span of a year, at prices averaging $1,200 per sq ft. More than 80 per cent of the buyers were Singaporeans and permanent residents.

As of Dec 1, all but one of the units had been sold.

'Soho' is a marketing term used by developers and their property agents, and does not refer to a specific development type granted approval by the Urban Redevelopment Authority.

The units typically come with space that can be customised as offices, as well as connectivity technology.

The Soho apartments at The Tennery are one- and two-bedroom units with a floor-to-ceiling height of 3.4m. The one-bedroom flats range from 619 sq ft to 640 sq ft, while the two-bedroom flats range from 860 sq ft to 950 sq ft.

The 99-year leasehold development is estimated to be completed in 2014.

'The Soho lifestyle is a growing trend, and buyers are increasingly attracted to integrated developments that give them the flexibility to live, work and play within the same location,' said Mr Chia Boon Kuah, Far East's chief operating officer of property sales and executive director.

The Tennery is above the LRT-connected 121,000 sq ft Junction 10 mall, which recently got its temporary occupation permit and is 90 per cent occupied.

Junction 10 tenants 'are in the process of fitting out their units', Far East said, with the first tenants due to start operations next week.

Tenants include Giant, Watsons, Guardian, BreadTalk, ToastBox, BBQ Chicken and Kumon.

With the resumption of the Bukit Panjang LRT service to Junction 10 today, commuters will have access to the LRT station on the third storey of the mall, Far East said.

Mr Chia added that Far East was also getting 'strong interest' from buyers in its latest Soho project, The Hillier, located in Hillview Avenue.

Like The Tennery, The Hillier is also integrated with a mall, the hillV2, which will include stores like New York gourmet grocers Dean & Deluca.

Source: The Straits Times © Singapore Press Holdings Ltd

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Martin Koh/ Sherry Tang
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