Midtown Modern banks on connectivity, greenery and full facilities
Midtown Modern banks on connectivity, greenery and full facilities.
According to Knight Frank’s Alice Tan, Midtown Modern, GuocoLand’s 558-unit condominium at Tan Quee Lan Street in District 7, is the only condominium with complete amenities, including a 3.8ha forest garden, in the Downtown Core region. A 50-meter swimming pool, tennis court, luxurious clubhouse with seating for more than 50 people, hot spring, tea shop, and entertainment pavilions are among the condo’s features.
Speaking on August 13 during the EdgeProp Singapore NDP Master Plan Master Class webinar, Tan emphasized that the wide choice of amenities is one of the factors contributing to Midtown Modern’s robust take-up rate. According to caveats filed as of August 16, since the project’s inception in March 2021, over 79% of the apartments have been sold for an average price of $2,744 per square foot. Another crucial factor to take into account is the interconnectedness of the 99-year leasehold project. Residents have easy access to public transportation thanks to the Downtown and East-West Lines’ service of Midtown Modern, which is located directly above the Bugis MRT Interchange.
According to Tan, the development puts a strong emphasis on the outdoors, dedicating more than a hectare of space to gardens and landscaping. This provides a lot of softness to the development, in contrast to the “concrete jungle” backdrop normally associated with the CBD, she claims. Midtown Modern is made up of two buildings that are each 30 stories high. There are a range of one, two, three, and four-bedroom apartments there, ranging in size from 409 square feet to 1,808 square feet. There are also two penthouses, each measuring 3,272 and 3,520 square feet.
Nearly 90% of the one- and two-bedroom units were sold over the project’s debut weekend, which Tan attributes to strong investor confidence in light of the project’s placement inside the larger Guoco Midtown development, its accessibility, and its close proximity to shops and other facilities. She continues, “It’s a terrific investment product. Nevertheless, the building has a wide range of units, including larger three- and four-bedroom apartments, so owner-occupiers are also adequately cared for. Tan continues by saying that the larger flats also give owners freedom because they may utilize one of the bedrooms for various purposes, such as as a home office or entertainment space.
Early in July, GuocoLand introduced The Midtown Modern Sky-Bungalow Collection, which consists of six duplex residences on levels 24 and above. Each apartment, which is a combination of two four-bedroom apartments, has five bedrooms and is 3,616 square feet in size. The penthouse unit on levels 29 and 30 was valued at $17 million ($4,701 psf), and prices for the Sky-Bungalow Collection started at $15.5 million ($4,287 psf). The penthouse Sky Bungalow has reportedly been sold for $17 million, breaking a new psf price record and becoming the development’s single-highest sale.
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