Lendlease to launch Park Place Residences in end March

Australian property developer Lendlease plans to launch the Park Place Residences condominium at Paya Lebar Quarter (PLQ) on 25 March. It also announced unit prices...

Artist’s impression of Park Place Residences at Paya Lebar Quarter. Source: Lendlease

Lendlease is set to launch Park Place Residences at Paya Lebar Quarter (PLQ) by 31 March, marking its maiden foray into residential development in Singapore.

“We are excited to be entering Singapore’s residential property market with Park Place Residences at PLQ,” said PLQ’s Managing Director Richard Paine, adding that they have tapped the expertise of the Australian developer to create a condominium with a live-work-play concept.

The 429-unit project along Paya Lebar Road comprises three towers standing on a 98,520 sq ft site with a leasehold tenure of 99 years commencing from 29 June 2015. It offers a mix of one- to three-bedroom apartments, of which there are 117 one-bedroom units ranging from 480 sq ft to 580 sq ft, with prices starting from around $780,000.

There will also be three variations of two-bedroom apartments measuring from 650 sq to 900 sq ft, while the two variations of three-bedders range from 1,080 sq ft to 1,350 sq ft.

Located near the Paya Lebar MRT Interchange, the condominium will be linked to retail and office buildings via covered walkways, meaning more than 700 shops in the retail mall are within a short walk.

Aside from the development’s various facilities, which includes three pools, another key feature is its extensive network of greenery. In fact, it has received the Green Mark Platinum Award from the Building and Construction Authority.

Furthermore, the condominium is exempt from the Additional Buyer’s Stamp Duty rules that require developers to sell all units in a development within a five-year period, as it is part of a mixed-use development located within a commercial zone.

Park Place Residences at PLQ is scheduled to be completed by the second half of 2020.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg