CapitaLand sold 205 apartments

CapitaLand has sold 153 units more last week at the d'Leedon.

DBS said that CapitaLand sold a total of 205 apartments inclusive of the 52 units sold earlier to the former owners of Farrer Court. Average price was at $1680psf, translating to about $1.1m for a 1+1 bedroom of 635sf and $1.5m for a two bedroom of 1,055sf. In total, CapitaLand has released 250 out of the 1,703 apartments. The selling price is in line with their current assumption of $1750psf on average for the entire project. Hence, there is no change in target price and recommendation.

Meanwhile, all but the five penthouses at the freehold 167- unit Robinson Suites including the three shop units are said to have been sold over a period of three days. Of this, 35 units at the lower floors were believed to be taken up by a fund. All the apartments are either 1+study or 2-bedroom with sizes starting from 484sf. Units are priced from $2600psf to $3,200psf, translating to about $1.2-1.5m apiece. The healthy take up shows that affordability is another plus factor for the development given the small unit sizes and hence lower absolute quantum.