According to SingLand, the joint venture partners want to turn Watten House into a condominium
Watten House condominium development on Shelford Road in District 11 of Singapore.The size of the freehold structure is 220,241 square feet.By submitting a $550 million bid, UOL Group and Singapore Land Group (SingLand) won this auction in 2021. They intend to build a condo with 286 units measuring at least 100 square meters.
UOL Group and Singapore Land Group (SingLand) were awarded the most costly bid of $550.8 million ($1,723 per square foot) for the construction of Watten House on a new development plot of 220,241 square feet. Watten House is a five-story building with 286 residential flats.
Watten House is 350 meters away from Tah Kah Kee MRT Station. Coronation Shopping Plaza, King's Arcade Shopping Centre, Crown Centre, Cluny Centre, Serene Centre, and Adam Road Food Centre are all nearby shopping centers. Watten House is located in Watten Rise's most prestigious residential enclave, a mile away from prominent schools like as Nanyang Primary School and Raffles Girls School.
According to both parties' press releases, the acquisition of WEC is part of the usual course of business and will allow both companies to replenish their land reserves for the development of residential units in Singapore. SingLand further indicated that the joint venture partners intend to convert it into a condominium. Subject to clearance from the appropriate authorities, the property will be converted to a condominium. Both JV parties intend to formalize the terms of their agreement regarding the acquisition of the property and its redevelopment, as well as share profits and risks based on respective subsidiary holdings in the JV's equity.
In situated in a high-end district that is renowned for its prestigious schools and luxurious residential estates and the Watten House 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.
This acquisition represents a 10.2 percent premium above the property's marketing company JLL's minimum price of S$500 million on September 20, 2021. The WEC previously held a collective auction with a reserve price of $536 million in July of 2019. The property was first listed for sale in 2007 for S$480 million.
On Shelford Road, the Former Watten Residences is a new freehold condominium. Tan Kah Kee MRT Station (DT8) and Botanic Gardens MRT Station (CC19) are both nearby and serve the Downtown Line (DTL) and Circle Line (CCL). It includes 286 homes split across five-story buildings due to its prominent location.
You can enjoy the region's numerous eateries and retail options, as well as the beautiful walks and rich vegetation, to live a leisurely, stress-free lifestyle. You may also stroll to some of Singapore's best schools and other nearby attractions.
The bourses of their respective firms submitted documentation on Thursday (Oct 28), and UOL and SingLand announced that they had granted an 80:20 (JV) to United Venture Investments (UVI) and Singland Residential Development (SRD). UVI and SRD are wholly owned subsidiary companies of UOL and SingLand, respectively. UOL, originally known as UIC (United Industrial Corporation), is SingLand's largest shareholder. According to its share of ownership in the JV, UVI will pay 80% of the purchase price, or S$440.6 million, while SRD would pay the remaining 20%.
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.
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.