The Residences at W Singapore Sentosa Cove
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Singapore
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Date created: 29.03.2024 21:02:04
- Listing ID:
- 118
- Type:
- Sell
- Property type:
- condominium
- Address:
- Singapore, 1 Ocean Way, Singapore 098367
- Price:
- S$ 2236888 Sale
- Description:
Fire sale at $18**psf, ~~~ Target preview 10.04.24
Highest PSf was around 28** to 3K, but now these 51 units under ???? sale at 18**. Directly doorstep to Quayside Isles. Launching for sale on 6th April 2024, from $1,8xx PSF!
The Residences is a luxury leasehold condominium project comprising 228 exclusive apartment suites situated amongst a wave of six-storey condominium blocks. The project encompasses a site area of 250,407 sqft. Units are available in 2 to 4-bedroom layouts including penthouse suites, with build-up areas ranging between 1,227 up to 6,927 sqft. Units currently have an estimated sales price of around S$ 2,900,000 up to S$ 3,700,000, with rental prices ranging from approximately S$ 7,500 up to S$ 17,000 per month, depending on unit size and layout.
Project Name: The Residences at W Sentosa Cove
Type: 99-year Leasehold Condominium
District: 04
Unit Types:2-bedroom (1,227 - 1,292 sqft) - 42 units
3-bedroom (1,625 - 2,616 sqft) - 86 units
4-bedroom (2,067 - 2,486 sqft) - 66 units
Penthouse (2,217 - 6,927 sqft) - 34 units
The Residences At W Sentosa Cove is a 99-year leasehold condominium project located along Ocean Way, 098367, in District 04. The project comprises 228 residential units spread across a stretch of six-storey apartment blocks, located right along Sentosa Cove. The Residences was completed in 2012 by W Hotel Worldwide & City Developments Limited (CDL), both highly established organizations in their own sectors. Units are available in a range of highly spacious and elegantly designed 2 to 4-bedroom apartments, with relaxing views overlooking the sea.
W Hotels Worldwide are a luxury hotel chain owned by Mariott International, with 55 W-branded hotels located in key cities worldwide. City Developments Limited (CDL) is a large-scale real estate developer with projects spanning 29 countries and cities worldwide. Their diverse portfolio includes a long list of award-winning residential, commercial and hospitality projects ranging from luxury executive condominiums to The Millenium & Copthorne hotels found in key cities worldwide.
The Residences at W Sentosa Cove – Unique Selling Points
The Residences offers a resort-style sanctuary for residents, right within Sentosa Cove. This upscale residence is isolated from the rest of the city, offering a further degree of privacy and exclusivity away from the crowds of the city centre. Shopping centres, international schools, restaurants and other amenities are conveniently located close by, offering convenient access to services within the comfort of your neighbourhood. Additionally, The Residences offer a top-of-the-line series of facilities, including a private clubhouse, driving range, gymnasium, swimming pool, jazuzzi, barbeque pits, lounge, meeting room, sauna, and more. The compound is gated and monitored by 24-hour security.
A interconnected network of bus routes can be found throughout the Harbourfront and Sentosa Cove neighbourhoods that link residents efficiently to the closest train stations. Multiple bus stops can be found located less than a 5-minute walk away from the residence that link directly to monorail line, and onto HarbourFront Station along the North East and Circle Lines. Alternatively, private transport owners can travel along the Sentosa Gateway directly onto the West Coast Highway, which links drivers to the rest of the city. Travelling to the international business park and Orchard Road shopping district will both take around 25 minutes, towards the west and east directions, respectively.
The Residences at W Sentosa Cove – Amenities & Attractions
Dining near The Residences at W Sentosa Cove:Sabio by the Sea
Schmear
Miska Cafe
Schools and Education Institute near The Residences at W Sentosa Cove:FY Institute of Technology
Invictus International School (Sentosa)
Quayside Isle Prepatory School
Hospitals/Medical Centers near The Residences at W Sentosa Cove:Healthcare Medical - Sentosa
Shopping Outlets near The Residences at W Sentosa Cove:Jason’s Gourmet Grocer
Quayside Isle
Cold Storage @ Sentosa Cove
BlackStone & BlackRock Story
Blackstone Sells Interest in CDL Singapore Project to BlackRock as Fund Ages Out
2024/01/04 by Michael Cole, Beatrice Laforga
Blackstone has sold its interest in an upscale apartment complex in Singapore’s Sentosa Cove to BlackRock in a deal described by market analysts as a stressed sale of the financial rights.
Having invested S$367 million ($276 million) in a profit participation scheme linked to Sentosa’s Quayside Collection mixed-use development in 2014, Blackstone had retained the rights to cashflows from the residential portion of the project for nearly a decade, despite prices for units in the project having declined around 41 percent since their peak.
With analysts estimating that Blackstone, which invested in the profit participation scheme through the first edition of its Tactical Opportunities Fund, having acquired its economic interest in the apartments of The Residences at W Sentosa at around S$2,400 per square foot, local property databases put current pricing for units in the elite residential compound at around S$1,747 per square foot, severely limiting financing options for the asset.
BlackRock is said by market sources to have paid the equivalent of S$1,200 to S$1,300 per square foot to acquire Blackstone’s rights under the profit participation scheme in the deal which closed in October. Blackstone funds are understood to typically have eight year durations, with an option to extend for another two years, with the vehicle invested in the CDL scheme having closed fund raising in 2012.
The developer had repurchased the financial instruments linked to the hotel and retail portions in a S$393 million deal in 2019, according to company documents at the time, but The Residences at W Sentosa remain under the control of the Profit Participation Scheme as prices for the properties have failed to meet expectations.
Island Apartments Under Water
With CDL as manager not allowed under the terms of the scheme to sell the approximately 203 apartments in the portfolio for less than S$2,400 per square foot, the assets have remained in the scheme as prices for the luxury homes have averaged around 27 percent less than that figure, according to data from PropertyGuru and EdgeProp.
The Quayside Collection launched sales of its condo element during the same year that Resorts World Sentosa opened as Singapore’s first casino in 2010, with the highest price paid for an apartment in The Residences at W Sentosa being set at S$2,968 per square foot during that inaugural year of marketing.
Working against the property is its location across a causeway from the rest of Singapore, its 99 year leasehold status, which has around 80 years remaining, and the large size of the units, with homes currently for sale in the property ranging from 1,238 to nearly 7,000 square feet.
- Floor:
- 6 floor of 6 total
- Total square:
- 114 m2
- View:
- Lake/ River view
Loan calculator
Monthly payment: S$
Overpayment: S$
