The Crest - Exotic Condo at Prince Charles Crescent

The Crest 's site at Prince Charles Crescent Singapore has currently been successfully tendered by three development companies, including Wingstar Investment Pte Ltd, Metro Australia Holdings Pte Ltd, and Maxdin Pte Ltd at a price of $516,298,888. This site has been sought after by fifteen tenderers since it was launched for sale in August 23, 2012 and closed on September 20 of the same year. The tendered sale price of the highest bidder translates to a tendered sale price of $10,336.31 per square meters of gross floor area, and this high per square meter price highlights how the land parcel is much desired by developers, and most definitely by the future buyers.

The Crest condominium by Wingtai
The Crest - new condominium is just next to Alexandra Canal

Wingstar Investment is a subsidiary company of Wing Tai Holdings Limited, while Metro Australia Holdings and Maxdin Pte Ltd are, respectively, subsidiaries of Metro Holdings Limited and UE E&C Ltd.  This new launch project by Wing Tai Holding will be another highly anticipated luxurious residential development coming this year 2013 after the launched of The Echelon by CDL at Alexandra View. Potential buyers for investment and home stay will have another great choice in Tanglin precincts.

The Crest's land parcel at Prince Charles Crescent was first put under the Urban Redevelopment Authority’s Reserve List system on May 2012, and one month later, it has received an application to have the land parcel for sale by public tender with a bid of not less than $390 million. The Crest condominium has a site area of 23,785.4 square meters or 2.38 hectares.

The runner-up for the bid price is at $508.9 million, and was tendered by Intrepid Investments Pte Ld, Verwood Holdings Pte Ltd, and Hong Realty (Private) Limited. The land parcel of The Crest has a huge maximum permissible gross floor area of 49,950 square meters and is allowed to be leased for a period of 99 years. The condominium is required to be completed within 60 months from the date of acceptance by the tender, and it should have a maximum building height of 153 meters above mean sea level. It can be developed into condominiums or flats and it is estimated to have around 590 housing units. A combination of flats and strata landed houses may also be allowed with prior written approval.

The Crest is much desired because it is within an excellent location that is already an established residential area. It is surrounded by several residential sites including Tanglin Regency, The Metropolitan Condominium,  Ascentia Sky, and Tanglin View. The site is also close to the Crescent Girls’ School and Gang Eng Seng School. Aside from educational institutions and residential areas, the site is also surrounded by several amenities for dining, shopping, and recreation. Among these are the Delta Sports Hall and Swimming Complex, Alexandra Canal Linear Park, Valley Point Shopping Center, Great World City, and Tiong Bahru Plaza.

The Crest at Prince Charles Crescent may be accessed through the Redhill MRT Station and through major roads such as the Alexandra Road, Tanglin Road, Ayer Rajah Expressway, and Central Expressway. The site is also close to Orchard Road and other key areas including Marina Bay, Central Business District, and the Southern Waterfront area. The Crest at Prince Charles Crescent is also directly in front of the Alexandra Canal.

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