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Heeton again seeks single buyer for iLiv@Grange, appoints C&W for sale
HEETON Holdings is again looking for a buyer to pick up all 30 units in its iLiv@Grange project, which received Temporary Occupation Permit (TOP) in October 2013.
This time around, its asking price is said to be S$110 million-S$120 million, which would translate into S$1,879-S$2,050 per square foot (psf) based on the total strata area of around 58,500 sq ft for the freehold project in Singapore's prime district 10.
In late-August 2013, BT reported that Heeton was seeking a buyer to sell all of the project's units. Its asking price was S$2,200-S$2,300 psf, going by market talk at the time.
Under Singapore's Qualifying Certificate rules, which apply to this project, Heeton has until until two years after TOP, that is, until October 2015, to finish selling all the units in the private residential development.
The group may seek permission from the authorities for more time to dispose of the units but will have to pay extension charges to the state.
iLiv@Grange comprises one, two and three-bedroom apartments as well as two penthouses. Many of the two-bedders have substantial void areas, which accounts for the development's total saleable or strata area being about 30-odd per cent more than the maximum gross floor area under the Master Plan. The development's two penthouses are 3,294 sq ft and 3,477 sq ft, each with a roof terrace and private pool.
Cushman & Wakefield is believed to have been appointed to conduct an expressions of interest (EOI) exercise to find a buyer for iLiv@Grange.