Cairnhill

From Straits Times – June 17, 2007:

“Constantly evolving landscape

THE CAIRNHILL AREA IS FAST EVOLVING, with developments like Orchard Scotts (left) newly completed, projects such as Hilltops Apartments still under construction and older boutique condominiums like Silver Towers about to be redeveloped.

IN THE Cairnhill area, the old is juxtaposed against the new, with the latest Cairnhill Crest just across the road from a much older The Cairnhill.

But this picture is far from complete. The area is fast evolving with developments such as Hilltops Apartments still under construction, older boutique condominiums like Silver Towers about to be redeveloped and properties like Orchard Scotts completed recently.

The theme of the area is one of constant change, reinforced by the frequent heavy traffic in the surrounding areas.

The attrition, development and movement are all set against the backdrop of the bustling main shopping belt of Orchard Road.

The area also presents interesting contradictions in the form of high-end, trendy apartments such as The Light contrasting with the smaller one- and two-bedroom units of the Vida along Peck Hay Road.

Freehold units at Scotts 28 and The Light have been commanding prices of $1,978 per sq ft (psf) and $1,700 psf respectively on average, according to Savills Singapore.

Mr Ku Swee Yong, Savills Singapore marketing and business development director, said that the benchmark had been set by Helios Residences, located next to The Light at Cairnhill Circle, which had been priced at between $2,500 psf and $3,000 psf.

‘The Edge has been going for up to $1,500 psf as well, which was pulled up when The Light sold well.’

Rumour has it that there will be a hotel-branded residence coming up along Cairnhill Road.

And while negotiations with a five-star hotel are understood to be ongoing, the development is widely expected to push up prices when it comes on line, said Mr Ku.

Meanwhile, the flagging sales of the one- and two-bedroom units of the Vida on Peck Hay Road have been attributed to the lack of interest in small units in the area.”

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