The Woodleigh Residences sold 60 per cent of the 50 units released for sale during the soft launch, which prompted joint developers Kajima Development and Singapore Press Holdings to release another 50 units.
Units sold over the weekend achieved an average of above S$2,000 per square foot.
Located at the junction of Upper Serangoon and Upper Aljunied roads, The Woodleigh Residences is part of a mixed-use commercial and residential development that will feature 667 premium residential units overlooking Alkaff Lake and Bidadari Park, while The Woodleigh Mall will offer close to 28,000 square metres of retail, dining and commercial space.
The 99-year-leasehold property comprises two-, three-, and four-bedroom units, which start at S$1,873 psf. A two bedroom apartment has a starting price of S$1.088 million, while the four-bedroom units are S$2.55 million onwards.
Kajima-SPH first released 50 units in response to growing interest for The Woodleigh Residences, of which about 60 per cent were booked during the preview. "Given the current challenging property market condition, we were encouraged by the response and released another 50 units," said Kazunori Ichihashi, Kajima Development's project director.
Those who had issued blank cheques two weeks ago to indicate their interest turned up for a ballot at 11am on Saturday for a chance to choose their units. The doors were open to the public that same day at 1pm.
The launch attracted buyers such as families, HDB upgraders, as well as parents buying for their children in trust. Buyers, as expected, turned out to be mainly Singaporean.
Mr Ichihashi said: "An integrated development at the city fringe location, The Woodleigh Residences is a good long-term investment home given its limited supply. Along with its good design layout, Japanese craftsmanship, and views of the park and lake, we believe buyers will appreciate the premium attributes of this development."
The Woodleigh Residences sales gallery, located beside NEX Shopping Mall (Serangoon Link), will close from Nov 19, in preparation for the official launch early next year. Soft-launch prices will still be offered to the public keen to make a purchase before Nov 19.
The development, which will be built above Woodleigh MRT station, is slated for completion by end-August 2022.
OrangeTee & Tie and Savills Singapore are the marketing agents for The Woodleigh Residences.
This article was first published in The Business Times. Permission required for reproduction.