Gillman
Heights’ home owners were disappointed because of what they
witnessed during yesterday’s private preview for the new project
The Interlace.
As
Gillman will be knocked down to accommodate the new project, its
owners complain that the units being offered to them at Interlace are
excessively pricey and their facings are bad.
“The
apartments being offered were either too close to the highway, or
were on very low floors facing Depot Road. These are among the worst
units in the project,” said Mister S.T. Soh, 68.
An
owner who preferred to only go by the name Madam Koh had previously
anticipated lower prices. However, she said that even low-level condo
units were launched for a minimum price of $1,048 per square foot
(psf).
CapitaLand
Limited (SGX: C31) stated that the price range for the apartments is
between $850 psf and $1,150 psf. The developer also added that the
units they offered represented an assortment of home types from 807
square feet to 5,877square feet.
Out
of Interlace’s 1040 units, 153 from five blocks were launched
during the private preview. “These units, located on different
levels in the development, also offer various facings – towards the
pool, towards the sea, and towards the greenery at HortPark,” a
spokesman for CapitaLand said.
Gillman
Heights, which has 607 units, was purchased by CapitaLand in May 2009
and the owners were given $870,000 to $950,000 to compensate for the
loss of their homes. CapitaLand also offered the owners first bite
should they intend to purchase new units at The Interlace.
CapitaLand
is one of the largest real estate companies in Asia. It is the parent
firm of The Ascott Group Limited and it is the product of the merger
between Pidemco Land and DBS Land.
Some
of CapitaLand’s projects are The Orchard Residences, Casabella, The
Loft, Tanglin Residences and Varsity Park Condominium.