Crowds flock to The Panorama condo previ

The Straits Times 
Wednesday, Jan 08, 2014 
SINGAPORE- Hundreds of people visited the showflat of The Panorama - a much-talked-about condominium in Ang Mo Kio Avenue 2 - during its preview over the weekend. 
 
Expected to be launched later this month, the 698-unit, 99-year leasehold project adjacent to CHIJ St Nicholas Girls' School is being developed by Wheelock Properties. The Straits Times understands that the units could go for between $1,400 and $1,600 per sq ft. 
 
"We are encouraged by the good response," said Ms Tan Bee Kim, senior executive director of Wheelock Properties (Singapore). 
 
Set for completion in 2019, The Panorama will be a five-minute walk from the upcoming Mayflower MRT station of the Thomson Line, which is slated to be operational in 2020. The condominium is also in the vicinity of Anderson Junior College, Nanyang Polytechnic, James Cook University and Australian International School. 
 
The six-block development with a clubhouse comprises 95 one-bedroom units, 196 two-bedroom units, 314 three-bedroom units, 68 four-bedroom units, 19 five-bedroom units and six penthouses. The sizes vary from 430 sq ft for a single-bedroom unit to 2,400 sq ft for the penthouses. 
 
"The response on the first day of the preview has been excellent as it has been some time since a major project was last launched in Ang Mo Kio," said Mr Jack Chua, chief executive of ERA Singapore. 
 
Mr Tan Tee Khoon, Knight Frank's executive director of residential services, said: "Among the prospective buyers who have indicated keen interest are young married couples and families with school-going children." 
 
ERA and Knight Frank are marketing agents for The Panorama.

Wheelock shells out S$550m for Ang Mo Ki

According to a release, the Board of Directors of Wheelock Properties (Singapore) announced that the Urban Redevelopment Authority has awarded to the Company’s wholly-owned subsidiary, Pinehill Investments Pte. Ltd., the tender for the land parcel at Ang Mo Kio Ave 2 at a tender price of S$550,000,048 subject to the conditions set out in the tender documents. 
 
The site is a 99-year leasehold land. It has a site area of 198,942 sq. ft. with an allowable gross floor area of 696,302 sq. ft. The Site is located within the established Ang Mo Kio HDB residential estate. It is well connected to the Central Expressway and the Seletar Expressway. The future Mayflower MRT Station at Ang Mo Kio Ave 4 which will be part of the new Thomson Line, is within walking distance from the site. 
 
In line with the Company’s property development business, the Company intends to undertake construction of a residential development at the Site. The Directors are of the view that the Acquisition is a viable investment which will broaden the asset and earnings base of the Group. The Acquisition is not expected to have any material impact on the net tangible assets or earnings per share of the Group for the current financial year. 
 
Under the terms of the tender, 25% of the tender price (less the tender deposit) shall be paid within 28 days of the date of acceptance of the tender. The balance of the tender price is payable within 90 days of the date of acceptance of the tender. The Acquisition will be financed by internal funds and bank borrowings. 
 
http://sbr.com.sg/commercial-property/more-news/wheelock-shells-out-s550m-ang-mo-kio-ave-2