Watermark @ Robertson Quay is a boutique mixed development with lofts, private lift lobbies and retail shops. This element of conservation injects uniqueness into the project. Old warehouses on this site were built in the late 1800s by Danish trading firm East Asiatic Company. It has the ‘loft living’ concept borrowed from New York City where artists moved into abandoned industrial buildings for cheap rent and large space in the 1950s.

Those complexes have since been converted into upmarket loft apartments and studio flats, and celebrities and investment bankers have long since replaced the struggling artists. Under the Urban Redevelopment Authority guidelines, the 19th century warehouse facade at the Watermark will be integrated into its overall contemporary design.

Location: Rodyk Street
Developer: Hong Leong Holdings Ltd
District: 09
Tenure: Freehold
Year of Completion: 2008
Site Area: 90,000 sqft
Total Units: 206 in 10-storey boutique-styled development

Units Types:
Shops (8 units) ~ ground floor
2 rooms (4 units) ~ above the shops (conservation type)
2 rooms (64 units)
2 rooms + study (50 units)
3 rooms (19 units)
3 rooms + study (28 units)
3 rooms + roof terrace (15 units)
3 rooms + study + roof terrace (8 units)
4 rooms (14 units)
4 rooms + roof terrace (4 units)
Unit Sizes: 900-1,800 sqft

Facilities:
Lap pool
Children’s pool
Jacuzzi
‘Rainwater’ shower deck
Water features
Tea deck
Reading verandah
Rock garden
Mist fountain
Changing room with steam room
Lounge
Gym
Koi pond
Putting green
Children’s playground
BBQ

The unique selling point is its central location at Robertson Quay. Sited in the area that is easily accessible by foot to Singapore’s entertainment districts, Mohammed Sultan and Clarke Quay, Watermark @ Robertson Quay is one of the very few developments that offers city living, is close to the CBD and Orchard Road but maintains the serenity of residential living.

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The government has identified three HUDC estates for privatisation.

The estates are located at Hougang North Neighbourhood 3, Hougang North Neighbourhood 7, and Potong Pasir.

The Ministry of National Development (MND) said the three estates comprise a total of 797 of apartments and maisonettes.

Real estate agents said the news could affect prices of these properties, which may rise 5 to 7 per cent.

“With privatisation, everyone will be happy (because) the price will be higher if we intend to sell,’ said Steven Tan. The HUDC estate at Hougang Avenue 7 which he’s been living in has been put up for privatisation.

Property agents said prices could inch up overnight.

Recently transacted prices in the three estates range from S$620,000 to S$735,000.

“I won’t be surprise some will say if I were to sell you the unit, then I am giving up my opportunity to cash in more if this development go en bloc. We’ve heard of developments where once it is privatised, the prices there sometimes rocket by S$100,000,” said Chris Koh, director of Dennis Wee Group.

Industry players said the en bloc potential for these HUDC estates is good because they are located in mature estates with more developed infrastructure and amenities.

The privatisation process could take up to two-and-a-half years.

But it will need support from three quarters of the residents.

Helen Lee, Protem Committee Member of Hougang Avenue 7 HUDC estate said: “The last time we did a survey in early 2009, more than 80 per cent of the residents were actually in favour of the privatisation. I think it shouldn’t be a problem getting the 75 per cent vote.”

The residents of each estate will have to form a protem committee comprising resident representatives to act on their behalf.

One stumbling block could be the privatisation cost, which include legal and survey cost, as well as cost of land transfer.

The Ministry of National Development (MND) will cap the cost of privatisation at $30,000 per flat for the three newly-designated estates at Hougang and Potong Pasir.

The MND said this is a concession to enable HUDC lessees to fulfil their aspirations to enhance their assets.

The concession will also apply to the Serangoon North HUDC estate, which is in the process of obtaining support for privatisation.

The capping of privatisation cost at $30,000 is only valid for three years, starting from 2 August 2010.

Thereafter, MND said the cost of privatisation will be adjusted to take into consideration the prevailing redevelopment potential of the land.

Observers said privatisation means flat owners will no longer be bound by some public housing rules like sub-letting, and they can sell or rent their homes to anyone.

Source : Channel NewsAsia – 30 Jul 2010