The Florence Residences by Logan Properties

About The Florence Residences

Luxurious 99Year Condominium In Hougang District 19 OCR

Background story

 
 

The 1,410-unit Florence Residences located at Hougang Avenue 2, was considered the first launch of a “mega project” (above 1,000 units) in 2019. Over the weekend of March 2-3, a total of 200 units were unveiled at The Florence Residences. Of the figure, more than 50 units were snapped up, representing close to 30% sales.

The Florence Residences is located within walking distance of 2 well-connected MRT stations, namely Kovan and Hougang MRT stations, with the latter earmarked as a future interchange station for the Cross Island and North East Lines. Logan Property is confident of the project’s attributes, from the conceptualisation of the architecture and landscape design, to the creation of a fulfilling lifestyle for its residents.

Formerly known as Florence Regency, The Florence Residence was re-conceptualised and developed by Logan Property into a unique “club-condo” project that boasts up to 128 exciting facilities that are fun for all ages. Imagine hosting endless parties at the development’s two-storey, resort-style clubhouse that overlooks an 80m lap pool. The Florence Residences is just a 15-minute stroll to both Kovan MRT and the future Cross Island Line (estimated date of completion is 2030). For those with personal transport, it is also close to various highways such as KPE, CTE, and TPE, enabling one to reach the CBD under 25 minutes. Beyond the condominium, there is a wide array of amenities close by, from shopping malls (Hougang Mall, Heartland Mall, Hougang 1, MyVillage Mall and NEX Shopping Mall) to food establishments (Kovan 209 Food Centre, Teck Chye Food Street, Hougang Hainanese Village Centre, Chomp Chomp Food Centre) and more.

 

Former Florence Regency En Bloc Deal

 

Florence Regency in Hougang was sold en bloc for S$629 million in October 2017. It was one of the last few privatised Housing and Urban Development Company (HUDC) estates in the north-east region. Located next to landed housing enclaves and across the Hougang Stadium and the sports and swimming complex, Florence Regency was the 12th privatised HUDC estate to be sold en bloc, almost the same time as Normanton Park HUDC.

Amongst the three bidders, Chinese developer Kingsford Development (current Normanton Park developer) submitted a bid that exceeded the reserve price of $600 million while the other two did not. However, none of these offers were willing to match the $629 million valuation made by independent valuer Colliers International when the tender closed on 27 Sept 2017. The collective sale agreement required that the sale price be no lower than the valuation. This put sole marketing agent JLL into high gear to court other developers in an attempt to close the deal under private treaty within 10 weeks before the tender closed.

The collective sale was finally sealed under private treaty after Chinese developer Logan Property (Singapore) stepped up to match the independent valuation of $629 million for the property in Hougang Avenue 2.Each owner of the 336-unit Florence Regency received gross proceeds of between $1.84 million and $1.89 million.

The 389,236 sq ft site was zoned residential with a gross plot ratio (GPR) of 2.8 and could potentially churn over 1,000 units. The land price translated into $842 per sq ft (psf) per plot ratio (ppr) after factoring in the estimated top-up differential premiums of $288.6 million to refresh the lease to 99 years and to develop the site to the gross plot ratio of 2.8. The significance of this land price enabled homebuyers of The Florence Residences to have a good estimate of the breakeven price (estimated at S$13400) and therefore, the indicative selling price after factoring in construction costs and profit margin (estimated at S$1474). As predicted, most units were tagged with attractive launch prices at an average of S$1,500 psf, with some units starting from below $1,400 psf.

This is not the first local land acquisition by Hong Kong-listed Logan Property. History was made in May 2017 when, together with Chinese developer Nanshan Group, it submitted a jaw-dropping bid of $1.003 billion to secure a 21,109 sq m site in Stirling Road (which has become today’s luxurious Stirling Residences comprising a whopping 1259 units), marking the first time a purely residential site in the Government Land Sales (GLS) programme that shattered the billion-dollar mark.

Now, they bettered themselves once again with their second mega development – The Florence Residences with 1,410 apartments, which had clinched the PropertyGuru Asia Property Awards in the following categories such as:-

Best Condo Interior Design (Singapore) • 2019
Best Mega Scale Condo Architectural Design (Singapore) • 2019
Best Mega Scale Condo Development (Singapore) • 2019
Best Mega Scale Condo Landscape Architectural Design (Singapore) • 2019

Architecture and Design Features

The Florence Residences - Site Plan North Orientation
The Florence Residences - Site Plan North Orientation
The Florence Residences - Direction Facing and Views
The Florence Residences - Direction Facing and Views
The Florence Residences - Unblocked Views Of Landed Housing and Stadium
The Florence Residences - Unblocked Views Of Landed Housing and Stadium

Facing

It is rare to find a development site that is primarily North-South facing like The Florence Residences. This facing is the most desirable for homebuyers in Singapore as it avoids the sweltering heat from the morning and afternoon sun. Such facing also means huge savings from heat-resistant blinds installation. Now without the blinds, you get to enjoy cool breeze and magnificent views while sipping afternoon teas with your friends at the balcony.

Noise and Odour

Tennis court, bin centre and generators are cleverly tucked away from most residential blocks and placed beside the arrival lobby so that no noise and smell levels are reduced to the minimum.

Facilities

There are options abound for the whole family at The Florence Residences. Dive into Singapore’s summer with kiddie pools that are guaranteed to make a splash with your family. Almost all blocks have pockets of water features within reach to keep you active in the water for hours. You will find everything from small, shallow fun pools suitable for babies and toddlers to majestic 80m lap pool for avid swimmers.

Block-To-Block Distance

On average, the distance between blocks will vary between 17 to 23m. Blocks closer to public flats along Hougang Avenue 2 has a noise buffer of approximately 33m from the condominium boundary to ensure you have quiet and peaceful rests as well as privacy.

Unblocked Views

There is a spectrum of views in this development, most of which enjoy unblocked views overlooking the condominium’s 80-metre lap pool, low-rise landed housing estates in the neighbourhood or the sports stadium across the road. Looking to the West faces the low-rise housing estate along Florence Road. Whereas blocks facing North will have unblocked views of Hougang Stadium and Realty Park. Towards the South, residents get the running track view of the former Serangoon Junior College. With these unblocked facings, you are getting not only beautiful panoramic views of the city, best fengshui position to optimize your environment but also breezes of light, cool wind flowing through your lovely home.

Carpark Ratio

A carpark allotment ratio of 1:1 is rare in today’s many developments due to space constraints. With every house unit guaranteed a carpark lot, residents will not have to worry about circling the entire development to find parking space This is especially good news for those who have to return home late due to work. There are also 9 handicapped lots for persons with physical disabilities or their caregivers to have access to designated disabled parking spaces.

Side Gates

For residents who prefer the healthier option of walking to the neighbourhood, there are 2 side gates – 1 leading to the HDB blocks at Hougang Ave 2 for your daily groceries and the other leading to Florence Road, which in turn, shortens your walking distance to Kovan MRT. Florence Road presents another sight of Hougang where the landed housing enclaves are nestled in. A nice evening stroll around this low-rise neighbourhood is another great de-stressor.

 Bespoke Residential Concierge

No matter where, when, who and what – everyone deserves a little indulgence. You may need detailed service or it could personalized experience you are looking for, but it is both that a concierge offers. Hospitality service is the key and concierge service provides many benefits and a wide range of personalised services for residents. A resident concierge will tackle your requests with pleasure or go out of their way to make even the most difficult requests happen seamlessly. All combine to help make day-to-day living effortless and smooth and for residents. Truly an amenity perfectly suited for luxurious homes like The Florence Residences.

 24/7 Parcel Collection Corner

No more missed deliveries. A new way to revolutionize your parcel experience by making collection more accessible to modern lifestyle. Collect your parcels whenever it suits you, 24/7. Parcel locker is a secure storage space where you can collect your online shopping whenever suits your schedule – day or night.

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