The New Florence Residences at Hougang Avenue 2 with a Chinese name name as 悦湖苑, was previously a HUDC project name Florence Regency. It was bought by Logan Property Developers, a Chinese developer. The collective sale and transfer of the ownership at Florence Regency was done at S$629million. The reserve price of $600 million set by The Florence Residences Condo (Former Florence Regency)
Handled by law firm Lee $ Lee, the public tender for the en block sale of this property had closed with 3 top bidders refusing to increase their bid prices to meet the stipulated valuation in the collective sale. No sale price lower than valuation of The New Florence Residences Condo will be considered. This requirement prompted drove JLL to court other interested developers to ensure that the bid attained the deal under the agreement before the ten weeks of the close of the public tender are over.
The Florence Residences Condo has a Gross Floor Area of 386, 236 sq ft, a Gross Plot Ratio of 2.8 and in accordance to the 2014 master plan it is zoned for development of the residential property. With a 99 year lease hold the land price of the Florence Residences Condo translates to around S$842 psf ppr.
For the first time a residential GLS programme in Singapore exceeded a billion-dollar mark and The Florence Residences was the second site owned by Logan Property after their successful launch of Stirling Residences Singapore.
Kovan MRT station along Upper Serangoon Road is within walking distances to The Florence Residences and located next to a bus interchange of Hougang Mall and near Hougang MRT station. With its superb location surrounded by Mrt Stations and Bus stops, travelling out of hougang to other parts of the town is a breeze.
The Florence Residences Singapore could be the best place for investment or the perfect Home Nest for your family, you will not go wrong with this decision. Located at Hougang a north eastern part of Singapore that is a matured estate that features a unique infrastructure that is constantly developing to meet the needs of residents.
Conveniently located in a prime location The Florence Residences allows future residents to access various amenities and facilities. Never seen before, this new development are sure to bring an exciting lifestyle to new owners. Developer Logan Property has an established and good track record, and this development will ensure all buyers of quality and assurance in building standards. Investors and buyers can be sure that The Florence Residences will be a lucrative investment.
Walking distances to the Kovan wet market and hawker centre, residences of The Florence Residences will be spoilt with the wide selection of food choices and groceries for home. And nearby there is another wet market at Hougang Avenue 8 beside Kovan. Residences can ensure affordable daily fresh catch foods supply cater to the within the estate. Quality can be assured at a reasonable and affordable price tag with many stalls to compare within the market. Kovan food centre was just renovated not long ago with a clean, bright and spacious environment. Ample seating in the food centre creates a nice dining experience for patrons having a meal there. Inside Kovan food centre, you will be welcome by the varieties of food stalls for you to choose from. And if you are craving for supper at night, Florence Residences is within walking distance to coffee shops which open till late night. This include the Teochew Porridge, famous Punggol nasi lemak, Thai Kway Chap. A 5 minutes drive away, Hougang Avenue 8 have plenty of coffee shops for you to choose from. Staying at such a convenient place, residents will never lack of choices.
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