New Launch - Mixed Development, Residential
Le Quest – Mixed Development At Bukit Batok By Qingjian Realty (BBR) Pte Ltd.
|Project Name:||Le Quest|
|Developer:||Qingjian Realty (BBR) Pte Ltd|
|Location:||Bukit Batok West Avenue 6|
|Tenure:||99 yrs leasehold commencing from 28 Aug 2017|
|Description:||Mix Development comprising 5 blocks of 16 storey residential including retail mall.
1st Storey – Retail mall
3rd Storey – Child Care Centre
5th Storey – Residential
|Estimated Site Area:||14,696.70 sqm|
|No of units:||516 residential units|
Government Land Sales (GLS)
The 99-year leasehold site in Bukit Batok West Avenue 6 was released from the Confirmed List of the Government Land Sales (GLS) programme during the first half of year 2016. The tender drew 11 bids from developers despite the lacklustre property market over the past few years prior 2016. With the land price of S$635 per sqf (psf) per plot ratio, the estimated break-even prices for the residential space in the new condominiums to be developed on the site range from S$920 psf to S$980 psf.
First Mover Advantage
The site is located where built-up density in the surrounding areas is low. This will give the Le Quest buyer a first-mover advantage when the precinct starts to intensify through future developments (such as Jurong Lake District and Tenah new town).
Jurong Lake District and Tenah New Town
Le Quest is within close proximity To Jurong Innovation District & only minutes’ Drive to Jurong Gateway. Residents could enjoy seamless connectivity to Shopping, Dining & Entertainment Amenities e.g JEM, JCUBE, Westgate, IMM, Jurong Point. According to URA master plan, there will be possible revisions to land uses in the Jurong Lake District area that will strengthen its position as Singapore’s second CBD. Be Part Of The Jurong Lake District Transformation (2nd CBD in Singapore).
Tenah New Town
On 8th Sep 2016, National Development Minister Lawrence Wong announced the newest Housing and Development Board (HDB) town, the new Tenah Estate. This new estate will be about the size of Bishan. Not only it will be Singapore first car-free town centre, it will also allow residents to get up close with nature. Tenah new town is within short walking distance from Le Quest.
Bukit Panjang Integrated Transport Hub
The upcoming Bukit Panjang Integrated Transport Hub (ITH), which will be completed in 2017 is within short proximity from Le Quest. The ITH will have an air-conditioned bus interchange seamlessly linked to Downtown Line MRT station (DT1) and LRT Station (BP6). With the downtown line, there will be direct train to City Centre.
Le Quest launch keeps brisk home sales going
Published Aug 7, 2017, 5:00 am SGT
The brisk demand for new private homes here continued unabated, as more than half of the apartments at Le Quest, a mixed development in Bukit Batok, were snapped up over the weekend.
Chinese developer Qingjian Realty moved more than 280 of the 516 units available, with 200 of them sold within hours of launch on Saturday.
Qingjian told The Straits Times yesterday that the sales gallery will be closed from today until phase two of the sales launch, which will be announced at a later date.
Its robust sales come amid a strong pick-up in home sales this year. Developers here sold 6,039 new units in the first half, a 64 per cent surge from the 3,675 moved from January to June last year.
Last month, an executive condominium project – Hundred Palms Residences in Hougang – sold out all 531 apartments during its launch weekend.
Mr Alan Cheong, senior director of research and consultancy at Savills, noted: “Not many new developments are expected to launch in the area in the short term, so that is definitely a main factor in buyers’ consideration.”
The developer said average selling price achieved was about $1,280 psf. The majority of the sales ranged from studio apartments to three-bedroom units.
PropNex Realty, one of the marketing agents for Le Quest, said that most of the buyers are Singaporeans, with a handful of permanent residents and foreigners.
“There was good demand for the smaller units, which appealed mainly to investors,” added Mr Benjamin Tan, senior associate district director at PropNex.
Mr Stewart Lim, who bought a one-plus-study unit for $652,000, said he was drawn to the mixed development. “I am buying partly because prices may go up in the future… I may rent it out, but if rents are soft I will live in the unit,” added Mr Lim, 28, a real estate agent.
International Property Advisor chief executive Ku Swee Yong said the ample liquidity in the market has been fuelling sales at new launches.
Mr Ku noted: “Buyers of this project are betting on future capital gains with the Jurong Innovation District and Tengah Forest Town coming up. But rentals in the Bukit Batok area remain weak in the near term.” The leasing market in that area could also become more competitive as supply from Tengah Forest Town comes on stream in the future, Mr Ku added.
Apart from the residential units, Le Quest has more than 6,000 sq m of retail space on the ground floor. The development is expected to be completed at the end of 2021.