Leedon Green
Within the exclusive GCB enclave of District 10 sits the new freehold development of Leedon Green, which was previously Tulip Garden. This large plot of land with a site area of 326,764 sqft, jointly developed by renowned developers MCL Land and Yanlord Land, has a total of seven 12-storey blocks and a good spread of 1-bedroom to 5-bedroom units to cater to those looking to buy for investment to large families buying for their own stay. The estimated TOP of 1st Quarter 2024 means that those buying a property here would have less than 2 years to wait for their keys, an attractive notion given that a lot of new launch properties now have a 4-5 years’ wait before they attain their Temporary Occupation Permit (TOP).
Given that this is a luxury development, the developers have thoughtfully dedicated a significant portion of the land to landscaping, and I love that the walkways of the development are elevated above ground, with lush greenery growing beneath, much like how one would experience a treetop walk. This design element is also a nod to the proximity of the Singapore Botanic Gardens, a UNESCO World Heritage site, which is just an MRT station away from Farrer Road MRT, a manageable 9-minutes’ walk from Leedon Green.
The bigger premium units boast of both a wet and a dry kitchen, together with 2 fridges, and a wine chiller. The developers have also fitted the units with top of the line finishes with large marble slabs for the floors and kitchen table-tops, and top-tier appliances such as V-ZUG, with other established European brands from Italy, Switzerland and Germany. All very befitting of a luxury development, I must say.
These premium units also have a ‘mirror TV’ on the kitchen walls, for one to view YouTube videos for, say, a cookery show, to replicate a dish by following each step of the recipe. It’s a cool feature (and I’m personally quite impressed!) even if one does not plan to whip up a storm that often, or at all (haha).
All the units, including the 1-bedders, have at least a 3.05m ceiling height, and this makes them look elegantly spacious and roomy.
The bigger units also feel expansive and broad width-wise, with a sizable living and dining area suitable for hosting guests, not long and narrow, unlike some of the bigger condominiums in other developments.
The smaller rooms themselves, however, with a standard size of 9 sqm, aren’t especially big, though the master bedrooms could possibly fit in a king-sized bed (but probably not two bedside tables) and the master bathrooms look impressively large.
That said, I think the units, sold from $2570psf, are reasonably priced, given that it is after all, rare freehold land on a big land plot, at a prime location, and that moving forward, there will not be any more land parcels sold via Government Land Sales as freehold. They are now only sold as 99 years-leasehold. Hence, people who buy units in this development are set to see sizeable capital gains as they hold on to the property in the mid-term, given the steady upward trajectory of price trends observed for freehold developments in the prime districts of D9 &10. Also, for investors looking to buy a unit, the smaller 1-bedders are priced from $1.3M, which is not exorbitant. Rental yields should be pretty promising given its walking distance to Farrer Road MRT station and a mere minutes’ drive to the heart of town, as well as its proximity to the Bukit Timah belt of elite schools. Also, set against the backdrop of a dwindling supply of new launch units, and the cooling measures that have effectively stopped the en bloc wave of older developments in their tracks, it is only a matter of time, I think, before Leedon Green’s units are snapped up and sold out. Hence, the time to buy a new launch unit, is now, before one is effectively priced out of owning a private property altogether as prices trend northwards.
Are there any other properties you would like me to review? Or do you have any questions?
