Cuscaden Reserve rolls out 'one-price promotion' — selected units at a flat $2,850 psf

Luxury condominium Cuscaden Reserve has rolled out new promotional prices, with selected units starting from $2,850 psf. The promotion is for 16 two-bedroom-plus-study apartments on the 5th to 13th floors across two stacks of the 28-storey tower.

Each unit spans 936 sq ft and comes with a private lift. At $2,850 psf, each unit is priced at $2.67 million. The promotional campaign will run until 14 July and is limited to the first five units.

Since the promotion was launched last Friday, four units have already been snapped up. Reportedly, two of them were bought by Singapore Citizens, and a third by a Singapore Permanent Resident (PR).

Half of the four-bedroom units snapped up

Another three units sold over the weekend were four-bedroom units, the largest apartments in the 192-unit development. Spanning 2,099 sq ft, there are only six such units available. They were created by amalgamating adjacent two- and three-bedroom units on the 21st, 23rd, 24th, 26th, 27th, and 28th floors. The four-bedroom units were reportedly sold at prices exceeding $3,400 psf, or upwards of $7.14 million.

Jointly developed by Singapore luxury property developer SC Global Developments and Hong Kong-listed New World Development and Far East Consortium International, Cuscaden Reserve offers a mix of one-bedroom-plus-study, two-bedroom, three-bedroom, and four-bedroom apartments.

Unit sizes range from 700 sq ft for a one-bedroom-plus-study, 807 sq ft for a two-bedroom, 818 sq ft for a two-bedroom-plus-study, and 926 sq ft for a two-bedroom-plus-study. Three-bedroom units measure 1,152 sq ft, while four-bedroom units are 2,099 sq ft.

Relaunched at lower prices

The luxury project was first launched in September 2019, and by the end of December 2023, 12 units had been sold at an average price of $3,625 psf. Cuscaden Reserve was relaunched in March this year at prices ranging between $2,900 and $3,000 psf, about 20% lower than the average transaction price during its initial launch.

The relaunched units were offered via private placement, which closed on 16 March following a two-week private preview.

At that time, 45 units were sold, mainly two-bedroom apartments, starting from $2.292 million ($2,823 psf).

Top-selling project in the CCR

Cuscaden Reserve was the top-selling project in the Core Central Region (CCR) last week. The promotional campaign has generated immense appeal, with several units sold and robust interest seen across other units.

Since its March relaunch, two- and three-bedroom units have been the most popular among buyers. Only one of the 21 three-bedroom units remains available for sale. Buyers comprise a healthy mix of investors and owner-occupiers.

Located in prime District 10, Cuscaden Reserve is a 99-year leasehold luxury condominium on Cuscaden Road. It is flanked by two freehold luxury developments: the 54-unit Park Nova by Hong Kong-listed Shun Tak Holdings, and the 77-unit 3 Orchard By-The-Park developed by YTL Land & Development, the property development arm of Malaysia-listed YTL Corporation.

While Park Nova is fully sold out, one of the units was linked to one of the 10 convicts involved in Singapore's largest money laundering case.