Two strata-titled villas at Sentosa Cove’s Green Collection for sale at $7.25 mil each
By Cecilia Chow
/ EdgeProp Singapore |
The Green Collection's landscape design by Japanese monk and garden designer Shunmyo Masuno (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Satinder Garcha, the co-founder of Garcha Group, a property developer, investor, and hotelier, has offered four villas for sale in his Green Collection Golf Villas. “It’s a limited release, with two in phase one and two more in phase two,” he says.
The Green Collection comprises just 20 strata-titled townhouses fronting Tanjong Course, one of Sentosa Golf Club’s two international championship golf courses. In 2007, Garcha beat seven others in a land tender to win the 71,589 sq ft, 99-year leasehold plot for $78.68 million or $1,099 psf per plot ratio.
Garcha was keen on the site because of its 200m golf course frontage. “The golf course view is something very unique,” he says. “As the only development in Sentosa Cove with strata landed housing, it fills a niche in the market.”
Developed by Garcha’s Elevation Developments, the Green Collection was designed by Rene Tan, co-founder of the award-winning, Singapore-based RT+Q Architects, with landscape design by Japanese monk and garden designer Shunmyo Masuno and interiors by British celebrity interior designer Kelly Hoppen.
View of the golf course from the strata villa at 28 Cove Drive (Photo: Samuel Isaac Chua/EdgeProp Singapore)
‘Courtyard villas’
When completed, the Green Collection won the housing category at the Singapore Institute of Architects Awards in 2013. The award was attributed to the design’s originality, innovation and sensitivity to the context. “The main inspiration came from the owner himself, who wanted a high-rise building lying on its side, hence its length,” says RT+Q’s Tan, a President’s Design Award laureate.
Tan had conceived the townhouses at the Green Collection as “courtyard villas”. For privacy, the façade fronting the road is of solid limestone and timber. The façade wall fronting the golf course is “transparent”: A glass curtain wall to capture the views.
Complementing RT+Q’s design is Masuno’s Zen aesthetic, which is evident in the choice of plants, reflective pools, walkways and the design of the residents’ facilities.
Apart from the Green Collection, Masuno is known as the landscape designer for Nassim Park Residences luxury condo on the mainland of Singapore. He was also the landscape designer for Garcha’s private residence, a Good Class Bungalow (GCB) at White House Park and several other GCBs for other tycoons.
The design of the 20 villa-style townhouses of the Green Collection by Rene Tan of RT+Q was inspired by a high-rise building lying on its side (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The Green Collection villas have a 6,500 sq ft to 7,500 sq ft strata area across four levels, including the basement and attic. The basement has dedicated parking for two cars, a helper’s room and storage areas.
Each villa has five en suite bedrooms, a spacious living and dining area, a dry and wet kitchen, marble flooring on the first level and oak flooring on the upper levels. The villas also come with a high-speed lift to every floor.
Hoppen, known for designing celebrity homes in the UK, crafted the interior spaces and selected materials and fittings for the Green Collection villas. Each villa has five bathrooms, with each bathroom a distinctive design.
“The entire project has a high architectural quality,” says Garcha. “From the start, I had planned to keep it as a long-term investment.”
Apart from the Green Collection, Garcha developed several villas in Sentosa Cove, which he has sold over the years. He still owns one, which he intends to keep for his family’s use. “Our speciality is very high-end housing,” he says. Most of his long-term investments are on the mainland, where he owns a portfolio of GCBs and boutique hotels in conservation shophouses, such as the Duxton Reserve, Maxwell Reserve and The Vagabond Club.
View of the Tanjong golf course from the master bedroom on the second level of the villa at 28 Cove Drive (Photo: Samuel Isaac Chua/EdgeProp Singapore)
‘Limited divestment’
Since their completion over a decade ago, the villas in the Green Collection have been leased out. The tenants are predominantly high-level expatriate executives or entrepreneurs in finance, tech or other industries. Residents from various countries, including the UK, US, Japan, South Korea, and more, comprise the international community. Although rental rates softened late last year, they are still hovering in the $18,000 to $25,000 range, says Garcha. He adds that occupancy rates have also been consistently high over the years.
“These villa-style strata houses have the best of both worlds,” adds Garcha. “They have large private living spaces, but residents can enjoy shared facilities like the swimming pool and the gym.”
Garcha is only willing to release four villas for sale. “It’s a limited divestment,” he says.
Two villas have already been refurbished, with renovations underway at the remaining two. The villas will be sold in two phases.
Boutique marketing agency Steve Tay Real Estate (STRE) has been appointed the exclusive marketing agent for the two villas at 28 and 60 Cove Drive. They are priced at $7.25 million apiece and are offered for sale by private treaty. “It’s an attractive proposition for prospective buyers searching for their dream home,” says Steve Tay, co-founder and executive director of STRE.
The private lap pool on the attic level of the strata villa of 28 Cove Drive (Photo: Samuel Isaac Chua/EdgeProp Singapore)
‘Fragmented market’
The residential market has become more fragmented since the property cooling measures of April 2023 took effect, notes Tay. In the suburban area or Outside Central Region (OCR), some corners of Singapore have seen prices soar to new heights.
One example is the 99-year leasehold Lentor Mansion in Lentor Hills estate, where 75% of the 533 units were sold on the first day of launch in mid-April. To date, 78% of the units have been taken up at an average price of $2,230 psf, based on caveats lodged as of May 7.
J’den at Jurong Lake District, also in the OCR, is another example. Launched last November, the 99-year leasehold, 368-unit mixed-use development is over 90% sold. At a transacted average price of $2,459 psf, J’den has set a new price benchmark for the JLD.
Meanwhile, some pockets within the Core Central Region (CCR) seem undervalued. Tay believes they provide opportunities for Singaporeans and PRs to snap up bargains. A case in point is the 192-unit Cuscaden Reserve, where the developer decided to relaunch the project at prices starting from $2,900 psf, about 20% below the earlier average transacted price of $3,625 psf five years ago.
Since its relaunch on March 20, about 93 units at Cuscaden Reserve have been snapped up. To date, 105 units (55%) have been taken up. Based on caveats lodged, prices of units sold averaged $3,049 psf, just 16% lower than its average launch price of $3,625 psf five years ago.
Another example is the relaunch of The Residences at W Singapore Sentosa Cove at prices from about $1,700 psf — 40% below the $2,736 psf average transacted price for units sold when the project was first launched at the peak of the market in 2010. Sixty-five units were snapped up across two days of sales on April 15 and 16. The average price of units sold was about $1,782 psf, about 35% below peak prices.
View from the roof terrace of the strata villa at 60 Cove Drive (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Relative pricing
Tay believes that the launch prices of the two villas at the Green Collection are “very attractive”: The villa at 28 Cove Drive has a total strata area of 6,361 sq ft. The asking price of $7.25 million translates to $1,140 psf based on strata area. The villa at 60 Cove Drive has a strata area of 5,640 sq ft and the $7.25 million price tag is equivalent to $1,285 psf based on the strata area. The villas come with a 99-year lease from 2007. They have 82 years remaining on the lease.
The villas at the Green Collection are the only strata-titled houses in Sentosa Cove and have unparalleled views of the golf course. Tay estimates that of the 350 bungalows in Sentosa Cove, only about 50 face the golf course. About 80 bungalows have seafront views and the rest overlook the waterway.
The latest bungalow transaction at Sentosa Cove was in February when a waterway-facing property on Ocean Drive changed hands for $16 million or $1,844 psf, according to a caveat lodged.
If a bungalow fronting the waterway trades at $1,844 psf, a strata-titled villa fronting a golf course would command $12 million. “In a normal market, that should be its price,” adds Tay.
View from the master bathroom on the second level of 60 Cove Drive (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The strata villas stretch from 24 Cove Drive to 62 Cove Drive. Six of the villas (from 24 to 34 Cove Drive) have a wide frontage where the view of the golf course can be enjoyed throughout the length of the house. The remaining 14 strata villas (36 to 62 Cove Drive) are courtyard-style townhouses. The two villas for sale, therefore, have different configurations. The villa at 60 Cove Drive is designed as a courtyard house with a central air well. The house’s first level has a living and dining area and a wet and dry kitchen. The en suite bedroom has been turned into a home office.
The master suite and two other en suite bedrooms are on the second level. The fifth en suite bedroom is on the attic level and has a roof terrace. It could also be a recreational room, entertainment room or a study.
On the other hand, the villa at 28 Cove Drive has a wide frontage where the golf course view can be enjoyed from all the rooms. Given the length of the house, the attic level has a roof terrace and a private lap pool.
The strata villa at 28 Cove Drive offers an uninterrupted view of the golf course running the entire length of the house (Photo: Samuel Isaac Chua/EdgeProp Singapore)
‘Attractive buying opportunity’
The Tanjong Course was redeveloped and officially reopened in 2017. The 18-hole golf course was reconfigured. Part of the redevelopment included adding a lake separating the Green Collection villas from the action on the course. “Residents still enjoy the golf course view but have more privacy,” says Tay.
Sentosa Cove is a fully mature residential precinct today, he adds. It has a supermarket, 24-hour 7-Eleven convenience store, 40 F&B outlets, a marina and round-the-clock security. Residents at the Green Collection can walk to Tanjong Beach, which is just five minutes away.
Tay believes the villas at the Green Collection present “an attractive buying opportunity for couples and families who want the unique waterfront lifestyle that Sentosa Cove offers”.
The 20 strata villas or townhouses fronting the Tanjong golf course were developed by Garcha Group's Elevation and completed in 2013. Two of the villas at No. 28 and No. 60 Cove Drive have been offered for sale for the first time
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