The Brownstone EC Price · Cost Computations
A JV of Verwood Holdings Pte Ltd & TID Residential Pte Ltd (subsidiaries of CDL City Developments Limited) won the land sale for The Brownstone EC with a bid of $226,000,000 on 29 January 2014.
Six developers tendered for this site, with the top 3 bids being rather close, just a 12% difference.
The winning bid works out to $350 per square foot per plot ratio (psf ppr). This was before the Canberra MRT station was announced, so we are likely getting a bargain here.
Assuming construction, overheads & financing costs of around $400 PSF, breakeven could be about $750 PSF.
With the MRT station and amenities so close by, even if the Brownstone EC pricing averages around $820 to $850 PSF (just assuming), it will likely find buyers. Especially considering that North Park Residences, one train stop down, is selling at around $1,350 PSF.
For details of this HDB Land Sale and the bids made, see this report (opens in new window).
The Brownstone EC Price · Price Update 23 July 2015
The Brownstone EC price list was released on 23 July, and was surprisingly reasonable. Even though this executive condo is the closest to an MRT station, the pricing is close to the current batch of other ECs, all of which are further from MRT stations.
Pricing ranges from around $649 PSF to around $880 PSF, depending on the size, floor level, and facing.