Park Place Residences to open showflat

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

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 at the 99-year leasehold project: the 117 one-bedroom apartments will be priced from $780,000, the 234 two-bedders from $1 million, and the 78 three-bedders from $1.6 million.

“The prices of Lendlease’s residential developments globally have historically been the lowest during the first phase of sales launches. This has resulted in early investors benefitting from the rising value of our developments,” said PLQ’s Managing Director, Richard Paine.

While all units at the 429-unit project are being made available, Lendlease plans to sell around 40 percent of its stock on 25 March, the project’s first phase of sales.

Park Place Residences is located close to two MRT lines and Changi Airport.

It is also 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.

Meanwhile, visitors to its showflat can use virtual reality (VR) technology to take a 3D tour around PLQ. The showflat for Park Place Residences will open to the public this Saturday (11 March).

 

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