Around 40 units or 10 percent of the 381-unit freehold Leedon Residence condominium project (pictured) have been sold, according to Singapore-listed developer GuocoLand.
Located at the Holland Road area, the development had a private preview in mid-August with 70 units released at an average price of S$2,000 psf.
Standing 12-storeys high, Leedon Residence comprises 11 blocks with 60 two-bedroom apartments measuring around 1,050 sq ft each and starting at S$2.4 million.
Majority of the units are three- and four-bedders with sizes of 2,100 and 2,700 sq ft respectively. There are also four penthouses, each with five-bedrooms.
Out of the 40 units sold, 70 percent were purchased by Singaporeans, 15 percent by permanent residents (PRs) of different nationalities, and the remaining 15 percent by Indonesians who aren’t PRs.
The development is situated on the former site of Leedon Heights which was acquired in 2007 for S$835 million or S$1,062 psf ppr, inclusive of development charges. The breakeven cost for Leedon Residence is estimated to be around S$1,500 to S$1,600 psf.
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