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Wilshire Residences
01-07-2019, 03:27 PM.
Post: #1
Wilshire Residences
Wilshire Residences welcomes its inhabitants to a thrilling lifestyle at the heart of the city This residential freehold project is enticing investors for two primary reasons: unique location and facilities/amenities. Piermont Grand EC details and Piermont Grand showflat will be available soon. Existing executive condo launches include Rivercove EC, Parc Life EC, Northwave EC, Hundred Palms Residences and upcoming ones include Piermont Grand and Tampines EC.

Located within numerous prestigious schools and amenities buyers at Wilshire Residences will be able to live in one of the best and the most ideal prestigious location. Strong connectivity and strong amenities around makes this development ideal for living. This development is located close to Farrer Road Circle Line MRT Station and it is well connected to different parts of the Singapore as bus stops and express ways are at minutes’ walk. Orchard Shopping Belt, Central Business District in Raffles Place and Marina Bay are easily accessible; all in the heart of Singapore.  

The Wilshire on Farrer Road was sold to a joint-venture between Singapore-listed property group, Roxy-Pacific Holdings and the privately held TE2 Development for $98.8 million. The purchase price translates to a land rate of $1,536 psf per plot ratio (ppr). Given its high development baseline, there is no development charge payable. The land rate would be reduced to $1,455 psf ppr after allowing a development charge of $4.1 million for the 10% bonus GFA balcony space, according to Suzie Mok, Savills Singapore senior director of investment sales who brokered the deal.

TE2 Development is a private family office of Tong Eng Group’s managing director Teo Tong Lim. A week ago, TE2 Development and Roxy-Pacific acquired the 43-unit Kismis View en bloc for $102.75 million. The price translates to a land rate of $941 psf ppr including $17 million payable for topping up the lease to a fresh 99-years.

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