New Launch 10 Strata Villas Green Collection 1190 Psf
In May, Satinder Garcha, one of the co-founders of Garcha Group, a company specializing in property development, investment, and hotel management, decided to test the market by releasing four out of a total of 20 strata-titled “golf villas” at The Green Collection in Sentosa Cove.
These golf villas were a unique addition to the Sentosa Cove market, with two of them fully renovated and furnished as show houses and the other two renovated and sold as vacant units. However, after two months, the developer decided to launch The Green Collection on a larger scale, appointing PropNex, ERA, and Huttons Asia as the joint marketing agencies for the project.
It should be noted that The Green Collection had already won the housing category at the Singapore Institute of Architects Awards in 2013. This was followed by the launch of the first phase of the project, which included 10 vacant units for sale, including the four that were released in May. According to Dominic Lee, the head of PropNex’s luxury team, The Green Collection is unique as it is the only strata-landed project in Sentosa Cove and boasts a beautiful view of the Tanjong Golf Course, making it the last new launch in Sentosa Cove.
The 302-unit Cape Royale condo, a joint development by Singapore-listed Ho Bee Land and Bursa Malaysia-listed IOI Properties Group, was launched two years ago. Similar to Cape Royale, the villas at The Green Collection were also completed in 2013, but they have never been sold until now. “The developer has held the 20 villas for lease since they were completed in 2013,” says Lee.
All of the villas in The Green Collection offer stunning views of the Tanjong Golf Course, as the 99-year leasehold, 71,589 sq ft site was the only one in Sentosa Cove that offered strata landed housing with a 200m frontage of the golf course. This prime location was acquired by Garcha’s Elevation Developments in a government land tender in 2007, with a winning bid of $78.68 million or $1,099 psf per plot ratio. This marked the first and only time that Garcha participated in a government land tender, as the company primarily focused on developing luxury bungalows in Sentosa Cove and Good-Class Bungalows in prime districts on the mainland.
In addition to its projects in Sentosa Cove, Garcha has also invested in conserved shophouses on Duxton Road, Maxwell Road, and Syed Alwi Road, which have since been turned into boutique luxury hotels. The first 10 villas at The Green Collection were scheduled to open for preview from July 24 to 28, with the launch set for July 29. The development offers three types of villas, each designed by the renowned Singaporean architect Rene Tan, who is known for his quirky designs. Tan has designed The Green Collection as a “skyscraper lying on its side”, with each unit conceived as a “courtyard villa” with an air well.
With interiors by celebrated British designer Kelly Hoppen and a landscape designed by Japanese monk and garden designer Shunmyo Masuno, The Green Collection’s villas are truly unique. The two-storey villas boast a basement and attic, dedicated parking for two cars, and five en suite bedrooms.
There are 12 Type A courtyard-style villas, ranging from 5,630 to 6,157 sq ft, with prices starting from $7.25 million. There are also two Type B villas situated in the middle of the row of meandering villas, with a total strata area of 5,964 sq ft and 6,114 sq ft, respectively. These villas are priced from $7.5 million.
Tucked away in the heart of Marina Gardens Lane Residences lies a remarkable retail hub that seamlessly combines the past and present. Its prime location, just moments away from the iconic Raffles Hotel, makes it a highly coveted spot for both tourists and locals alike. This renowned establishment, known as Raffles City Shopping Centre, features more than 200 diverse shops, offering a blend of high-end brands, popular retailers, supermarkets, and cinemas. Its strategic placement at Marina Gardens GLS is further elevated by the inclusion of Marina Gardens Marina South, adding to its irresistible allure. Nestled in the bustling Marina Gardens neighborhood, Raffles City Shopping Centre is a must-visit destination for indulging in shopping, dining, and entertainment, with the alluring Marina Gardens Marina South naturally complementing its charm. Additionally, with the Marina Gardens Marina South effortlessly incorporated, the revamped Raffles City Shopping Centre is sure to captivate visitors with its all-encompassing experience.
The largest and most expensive villas are the six Type C villas, which offer a private lap pool on the attic level and strata areas ranging from 6,222 to 7,169 sq ft. These villas are priced from $7.8 million. These prices are based on the normal payment scheme (NPS), which requires a 2% booking fee, followed by 8% upon exercising the option to purchase two weeks later. However, since The Green Collection is a strata landed property, permanent residents (PRs) and foreigners require approval from the Land Dealings Approval Unit (LDAU) of the Singapore Land Authority.
For those interested in the deferred payment scheme (DPS), there is a 3% price premium, with an 18% downpayment upon exercising the option to purchase, and the remaining 80% payable 12 months later. Similarly, there is an enhanced DPS (EDPS) with a 4% price premium, a 28% downpayment, and the balance of 70% (minus $1,000) payable 12 months later. However, these payment schemes are not unique to The Green Collection, as similar packages have been offered by other developments such as The Residences at W Singapore and Cape Royale.
According to PropNex’s Lee, the response to The Green Collection has been encouraging, with the majority of interested buyers being Singaporeans and PRs. These buyers are primarily looking to use the villas for their own purposes, which is why vacant units are preferred, as they offer the opportunity to renovate and furnish the units to suit their personal tastes. Finally, it should also be noted that the psf prices for The Green Collection’s strata villas are considerably lower than those of conventional terraced houses in Sentosa Cove, making them an attractive option for buyers.