Martin Modern is an upcoming new residential development along Martin Place. The plot was sold to the highest bidder, First Bedok Land Pte Ltd (Guocoland) at $595,100,000.00 or $13,336.47 PSM of GFA. Martin Modern plot can yield a maximum of 450 units and subject to a maximum gross floor area of 480,306.75 sq ft. Each unit will be on average 1000 sq ft. Part of the site will have a 20-storey height restriction, while the rest of the plot will have a 30-storey height limit.
This plot was a hotly contested. It attracted 13 bids in total. The offer price of $1,239 psf ppr exceeds the last highest bid of $1,163 psf ppr for Highline Residences site in 2013. The last time a District 09 site was put up for sale was in 2013, Sophia Hills site. Of the 13 bids, 10 were from local developers. You can see the confidence of local developers in the Singapore’s prime residential land.
Guocoland is likely to set the benchmark prices for 99-year leasehold homes in the area. The prices could exceed the freehold developments in that area. There is huge potential for this site as it is a short walk to the future Great World City MRT. It is nearby Orchard and Clarke Quay.
With strong sales from Cairnhill Nine and OUE Twin Peaks, Guocoland will be pricing Martin Moden very competitively.
Latest Updates as of April 2017:
Aerial view of Martin Modern site. This is a huge side able to yield up to 450 units.
There will be two blocks. 7 and 8 stacks each. We are expecting it to have lots of greenery.
The unit sizes are estimated to be:
- 2 bedrooms: 820 sqft
- 2 + Study: 880 sqft
- 3 bedrooms: 1050 sqft
- 3 + Study: 1300 sqft
- 4 bedrooms: 1800 sqft
Prices are estimated to be from $2300 psf.
Location Map Update:
More information will be released soon. Meanwhile, you can check out these few articles on the developer, GuocoLand and the development.
MRT Near Martin Modern: https://www.the-martinmodern-sg.com/articles/mrt-near-martin-modern/
GuocoLand the Developer: https://www.the-martinmodern-sg.com/articles/guocoland-the-developer/
Martin Modern Location Map: https://www.the-martinmodern-sg.com/articles/martin-modern-location-map/
The Makings of Martin Modern: