Developer: First Bedok Land Pte Ltd (Guocoland)
Location: Martin Place
Tenure: 99-years Leasehold w.e.f. 28 September 2016
Site Area: 15,936.1 sqm / 171,536 sqft
Total Units: 450 units in total, 2 to 4 bedrooms (764 sqft to 1798 sqft)
Below shall be the latest estimated unit sizes:
- 2 Bedrooms : 764 sqft (150 Units)
- 2 + Study : 850 – 883 sqft (90 Units)
- 3 Bedrooms : 1012 – 1087 sqft (90 Units)
- 3 Bedrooms Premium : 1399 – 1421 sqft (60 Units)
- 4 Bedrooms : 1733 – 1798 sqft (60 Units)
Expected T.O.P.: 31 December 2021
Martin Modern will be a high-end luxury development by Guocoland. It will be very similar to Goodwood Residences, Leedon Residences and Wallich Residences. Martin Modern will consist of 2 towers of 30-storey. There will be 15 stacks in total. Some units will come with private lift. There will also be concierge services provided. Lush greenery landscaping will be designed by ICN Design. High-quality finishes and appliances will be provided in all units. You will be able to get vantage views from Martin Modern with facilities on our roof terraces.
The Martin Place site was hotly contested by 13 bidders with First Bedok Land (Guocoland) being the top bidder. Guocoland have outbid all the others with a tender price of $595,100,000. The price was just 2% higher than consortium comprising Intrepid Investments, a unit of Hong Leong Holdings, Verwood Holdings (CDL), TID Residential and Garden Estates. The top bid works out to be $13,336,47 PSM of GFA or $1239 PSF of GFA.
The number of new prime residential government sites available on the market is very limited. Singapore developers are all hungry for such rare sites as a result. The developers who joined in the tender were attracted by the quantum which was affordable. Developers were looking in the future and encouraged by the recent sales of Cairnhill Nine by Capitaland.