The Hillshore is a freehold development with 59 units. (Picture: Samuel Isaac Chua/The Edge Singapore)
FRX Capital will preview its 59-unit project, The Hillshore, on April 6. This will be the first condo by the local real estate development company, which is known for its landed properties like the Mount Rosie Signature Collection.
The Hillshore is a freehold project along Pasir Panjang Road in District 5. It comprises 2 five-storey residential blocks within a 45,726 sq ft site. The project features a mix of two- to four-bedroom units that range from 733 to 2,161 sq ft, including 4 four-bedroom, dual-key units. There are also 13 penthouse units of 895 to 2,161 sq ft.
According to Oliver Seah, co-founder of FRX Capital, the penthouses will be priced from $2,300 psf, while typical units in the condo will be priced from about $2,500 psf.
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This puts the launch price of The Hillshore just under that of Terra Hill, the most recent freehold condo launch in this area. The 270-unit development, on Yew Siang Road, sold 102 units (38%) at an average price of $2,650 psf at its launch in February last year. Based on developer sales data, sales momentum has stalled and the development is 40% sold to-date.
A mock-up of a 1,055 sq ft, three-bedroom unit at The Hillshore. (Picture: Samuel Isaac Chua/The Edge Singapore)
Siah believes that The Hillshore will be well-received when it is launched for sale on April 20. The developer invited a handful of prospective buyers, who had responded to earlier advertisements, to a private preview of the sales gallery over the Easter weekend. “A good number of these buyers were already eager to write a cheque and book their unit of choice, but we’ve decided to stick to our planned booking day of April 20,” he says.
Siah adds that the recent sales launch of Lentor Mansion is an encouraging sign that buying activity in the new launch market is still robust. “I think home-buyer sentiment today boils down to the type of product that people want to buy. We see that buyers are much more discerning in terms of the type and quality of homes they select,” he says.
FRX Capital has transplanted its experience in developing luxury landed homes into the design, fit-out and choice of appliances at The Hillshore. For example, it is offering built-in ovens, an induction cooker hob and hood from luxury Swiss brand V-Zug, as well as Samsung fridges and washer-dryer machines. Units at The Hillshore will also enjoy relatively tall ceiling heights ranging from 3.2m to 3.7m in the front-facing block, and up to 4.6m for some of the units in the rear block.
The kitchen is well-equipped with appliances from V-Zug and Samsung. (Picture: Samuel Isaac Chua/The Edge Singapore)
The Hillshore is on an elevated site that slopes down towards Pasir Panjang Road, and units in the rear five-storey block benefit from the higher elevation. Units in this block that face the front of the development command the best views and are all three-bedders. Those on the third floor and above overlook the entire development and have views of the surrounding Pasir Panjang area, including Kent Ridge Park. Meanwhile, the lower-floor units will have views of the inner courtyard, swimming pool and landscaped areas.
The rear residential block houses the dual-key, four-bedroom units in the development. These units have been designed for their privacy and views of the surrounding greenery, and they also overlook a children’s play area and a small swimming pool. The sole four-bedroom, duplex penthouse in the whole development is located in this unit stack, and it features an en suite master bedroom on the top floor with a kitchenette, wardrobe and dedicated living space.
Read also: The Hillshore sells three units by placement at an average price of $2,626 psf
FRX Capital has been gearing up to preview The Hillshore since January, but it encountered delays in getting approval for the sales gallery and show unit which resulted in a months-long delay.
“The delay in getting approvals to launch sales galleries is concerning, given how many launch-ready projects we expect to see this year,” says Siah. He shares that the large pipeline of projects scheduled to launch this year face delays getting the relevant approvals from the Controller of Housing.
This comes as the market expects close to 40 new private residential projects to launch this year, with more on the horizon in 2025.
For now, Siah is looking ahead to the launch of The Hillshore and is banking on the promise of the Greater Southern Waterfront (GSW) to widen his catchment of buyers beyond just Pasir Panjang. “The Hillshore is well-positioned to capitalise on the new amenities, possible new schools and shopping malls that are set to be developed alongside the GSW,” he says.
Check out the latest listings for The Hillshore properties