|PROJECT NAME||STIRLING RESIDENCES|
|Developer||Logan Property (Singapore) Company Pte Ltd and Nanshan Group Singapore Co. Pte. Ltd. (南山集团)|
|Address||18 Stirling Road Singapore 148500|
|Showflat Location||Stirling Road|
|Developer Sales Hotline||+65 86661235|
|Est Indicative Selling Price Range||$1,700 psf onwards|
|Tenure||99 years leasehold|
|Description||High rise prestigious condominium developed by Nanshan Group. Near Queenstown MRT station|
|Site Area||227,221 sq ft|
|Maximum permissible Gross Floor Area||954,327 sq ft|
|Number of Units||Approx 1,110 units|
|No of Blocks||TBA|
|No of Storey||TBA|
Stirling Residences Condo @ Stirling Road (GLS Land)
Queenstown has been filled with the news of a new condo development called Stirling Residencies. The community that hasn’t seen any recent developments in the area, is full with excitement and energy over the announcement. The Alexandra Commercial clusters haven’t had any recent condo projects in the area. The land plot where the Stirling Residencies will be built, was the last available piece of land in the area that was dedicated by the Government Land Sales programme for private housing. The land had been dedicated for this purpose back in 2010 but it was only until 2017 that it was actually launched for sale. It ended up being bid for an amount of $1 billion, a first time price for a residential site.
The land where the Stirling Residencies will be built, is a total of 230,000 square feet, and has a massive gross plot ratio of 4.2. This makes it an approximate 1 million square feet in total, which means that the developer will ultimately build over a thousand units for home seekers to choose from. The bid that won the tender, and cost a total of $1.003 billion was made by a joint venture by two companies, the Nanshan Group and Logan Property. After calculations, the place turns out to cost $1050 per square foot from the gross floor area and could be sold for as much as $1700 to $1800 per square foot. Stirling Residencies is located alongside the Stirling Road and Angora Close where the landed property enclave is present, and is situated only a few minutes away from the Queenstown MRT Station.
SHORT HISTORY ABOUT STIRLING ROAD, QUEENSTOWN WHERE STIRLING RESIDENCES IS LOCATED
Queenstown was initially developed by the Singapore Improvement Trust in the 1950s. Since then it has grown in to a modern town that has public housing, amenities, transport network, educational institutes etc. Queenstown has been developed to fit the current and future lifestyle of the residents of the area. That is why Queenstown houses condos, apartments, houses, schools, libraries, shopping malls, sports centres, cinemas, community centres, parks and much more. The availability of all these daily based requirements so close by make Queenstown an ideal place to live and reside in. According to the master plan, all the amenities and facilities in Queenstown have been equally and properly distributed across all the towns, to provide easy access for all residents of all corners and areas, which, in turn, have also helped create a strong and smart transport network around the area. Queenstown also has a lot of commercial belts and industrial sectors across most of the towns in the area, with some of these places even having proper business parks.
Historically, Queenstown used to be a large swampy valley with a channel running through in a south-eastern direction. This agricultural area had hills on either side. On one of the hills, a rubber plantation used to be present, while on the other side, there was a cemetery called the boh beh kang. The area usually has Hokkien and Teochew speaking residents who lived by the hundreds in attap-roofed huts. These people were mostly farmers who grew vegetables, fruits and also herded pigs and chickens.
DEVELOPER OF STIRLING RESIDENCES
The land for Stirling Residences has been acquired by the Hong Kong’s Logan Property and Chinese developer, Nanshan Group.
Stirling Residences Developer – Nanshan Group
The company was founded in 1978 when the founder of the company, Song Zuowen led the whole Shandong Village from agriculture to the path of industrialisation, and global success eventually. The company saw a lot of success and eventually diversified into multiple different businesses, like aluminium, textile, finance, tourism, aviation, education and real estate. Nanshan Group Singapore Co. was lead by the founder Song Zuowen’s eldest son, Song Jianbo, who resided with his family in Singapore.
For a long time, the company has been planning to expand massively in the Singapore property and real estate market. The proof of this claim is that in the past 12 months, the company took part in 8 out of 11 tenders in GLS auctions.
In 2013, the company bought Park Regis along Merchant Road for S$250 million, and only a year later, they bought and acquired the former Midlink Plaza at S$270 million and redeveloped it into the 396-room Mercure Singapore Bugis. That same year, Nanshan also submitted the highest bid of S$173.57 million to beat 17 other bidders to win the land for the residential site at Sin Ming Avenue.
They then built Thomson Impressions on the same plot. After that, they bought the Old Irving Industrial Building in Tai Seng through a collective sale.
Stirling Residences Condo Developer – Logan Property
Logan Property Holdings which was founded in 1996, has developed over 90 Residential Projects maintaining their strength and providing shelters to over 500,000 people. Logan property developers are focusing on the Residential project development in PRC, covering Guangdong-Hong Kong-Macao Greater Bay Area and with its products targeting upgraders and the first-time homebuyers. From engineering design to general contracting, Logan Property Holdings (or ‘The Group’) has A-Grade qualifications.
In terms of overall strength, The Group is known as the best property developers in PRC. Reaching to 295th of Fortune China’s top 500 Enterprises in 2017 and In 2018 Logan was given 26th position in the Top 100 Real Estate Developers of China. Ranked 4th in the Top 10 Most Profitable Companies is due to with its brand and market reputation which is well known because of their overall strength.
Being a part of the national strategy by building a footprint in the world-class agglomeration Guangdong-Hong Kong-Macao Greater Bay Area, Logan focuses Pearl River Delta, Guangdong and Guangxi in China for business purposes.
Business expansion of The Group started in 2017, commencing its journey by acquiring quality projects in Hong Kong and Singapore. The shares of Logan Property are constituent stocks of Hang Seng Composite Large Cap & Medium Cap Index. FTSE Shariah Global Equity Index and MSCI China All Shares Index are included in the list of eligible stock for southbound trading under both Shenzhen and Shanghai- Hong Kong Stock Connect. Creating greater value expansion for its shareholders and customers, Logan Property will focus Guangdong-Hong Kong-Macao Greater Bay Area for business and pushing forward its steady business expansion.
AMENITIES NEAR STIRLING RESIDENCES CONDO @ QUEENSTOWN
The residential plot, Stirling Residences is ideally located very close to a lot of the daily requirements a family could need. Stirling Residences has a lot of government and private schooling systems nearby, meaning that anyone who could look forward to invest in this development would have advantage of selling and renting it to families. The reason for that, is that families look forward to buying in neighbourhoods and communities where their kids could easily go to school, without the hassle of having to travel too far away. This is particularly the reason that having a variety of schools nearby is a great advantage when selling the residency to a family.
Stirling Residences Queenstown/Commonwealth
It is also located very close to a lot of shopping plazas and malls that have a lot of attractions for families looking to spend the day out for shopping or eating. So anyone who invests in Stirling Residences Condo can sell it with the point of it being centrally located to most places that families require on a daily basis. Queenstown is notable for having a wholly equally distributed system where all towns in the area have their own lists of shopping plazas and amenities like schools, libraries, marts, parks etc. This means that families don’t have to travel a lot by car or by foot to reach any place where they would have to go daily.
Stirling Residences will have quite a few highlights in the closer areas, that will provide a better valuation of the residential condos.
- Firstly, the Queenstown MRT Station is located close on the East West Line in Singapore. It is ideally only 4 stops away from the Tanjong Pagar MRT Station which serves the Central Business District.
- Queenstown MRT Station is located right next to the Queenstown MRT Station. The area serves a variety of options to indulge and enjoy, and commute on a daily basis.
- There are a lot of shopping centres close by like the Star Vista, which is only 2 MRT Stops away from the Commonwealth MRT station .
- Other shopping centres in the area include the IKEA Alexandra, Anchorpoint and Queensway Shopping Centre.
- Other amenities close in the area include the Mei Ling Market and Food Centre and Dawson Hawker Centre.
- Closeby schools include the Gan Eng Primary School, Crescent Girls Secondary School and National University of Singapore. The Orchard and Central Business District (CBD) are also very close.
BULLISH ON QUEENSTOWN LOCATION THAT FETCH $1B BID FOR STIRLING RESIDENCES CONDO
The residential plot acquired by Nanshan is located very close to several other projects, some of which have already been built, and some are under construction. The development in the real estate sector in this area shows significant improvement in the market for construction companies. It shows that the market is gaining the trust of investors again. The nearby projects that have already been completed several years ago, have now become old. Most recent projects and constructions were only happening in other close by residential areas that had the full attention of the government. The Stirling Residences plot was due for sale for about 7 years in the GLS Reserve List before it actually did become available for sale. Despite the long wait in the selling time, the plot gathered a high bid of $1 billion and turned out to become one of the highest ever bids for a residential plot in such a short time.