Press Release

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July 19, 2001 at 12:00 AM EDT

Burlington Square Apartments to be Released for Sale with Tenancy. With an attractive tenant yield of up to 8 per cent, the ready tenanted and fully furnished units make an ideal investment choice.

To celebrate Clean & Green Week 2001the Singapore Environment Council (SEC) and World Environment (WE) magazine are organizing an environmental photography competition and exhibition to increase awareness of environmental issues and our natural heritage.

Since its invention in the early part of last century photography has played an important role in our lives, whether it has been used as an art form, as a tool for archiving and recording, or as a medium for communicating information. Bearing this in mind photography can be a valuable tool if used in environmental protection.

The organizers hope that participants of the competition, in spending time to plan and execute their shots, will come away more inspired and attuned to what beauty the environment has to offer and understand the need to protect it. Furthermore, it is hoped that the subsequent two week long public exhibition on top entries of the contest will allow others to be inspired as well.

“ In an age where environmental problems, such as destruction of nature and increasing mountains of waste, are becoming harsh realities, it is vital that we apply our multiple disciplines including visual arts to speak the language of environmental conservation”, says SEC’s Senior Manager, Mr Howard Shaw.

To support the organisers’ efforts celebrities, such as Gurmit Singh and Hosan Leong, and members of state, such as Mr. Sidek Saniff, Senior Minister of State for the Environment, will be contributing their own works towards a special section of the exhibition.

These pieces will be auctioned to the public and the funds raised will be used to support the on-going environmental education work of the SEC.

The SEC – WE Environmental Photography Competition & Exhibition is sponsored by ABB and City Developments Limited (CDL).

“Protecting the environment and contributing to sustainable development are ABB core values that guide all its activities and actions. We see sustainable development as integral to all aspects of our business management, striving to keep a balance between social, economic and environmental requirements. In supporting this common efforts project with SEC and WE, we hope to do our part to motivate and inspire Singaporeans to act green and also promote environmentally friendly behaviour”, says Mr Sim Boon Kiat, President and ABB Singapore Group Representative.

The tenanted apartments at the residential tower of Burlington Square in Bencoolen Street will be available for sale this weekend.

This mixed development in the civic district is owned by Claymore Properties Pte Ltd, a joint venture company of Wing Tai Land, City Developments Ltd (CDL) and Hong Realty, a wholly owned subsidiary of the Hong Leong group. Claymore Properties own the office and apartment units at Burlington Square, of which Wing Tai owns a 50 per cent stake and CDL and Hong Realty each own a 25 per cent share. Burlington Square also comprises a retail arm which is wholly owned by Wing Tai.

Sited on 70,994sq ft (6,595 sq m), Burlington Square was completed in late 1998, with the entire project comprising 179 apartments, 66 office units and 56 retail shops. A total of 33 out of the 179 apartments will be made available during the initial launch. These apartments will be attractively priced, after an appealing discount, starting at S$490,000 for one-bedroom apartments to S$609,000 for two-bedroom apartments. The price of three-bedroom apartments will start from S$763,000. Those available for sale include a good mix of one, two, three and four bedroom units ranging from 667 sq ft to 3,035 sq ft.

The 99-year leasehold apartments are expected to attract investors looking for ready-tenanted and fully furnished apartments with immediate rental returns. With its extensive list of expatriate tenants, the Burlington Square apartments have obtained attractive rental yields of up to 8 per cent which makes it a choice investment for prudent investors.

Located within the Central Business District and the Marina and Bugis office zones, this distinctive development in District 7 is also within immediate access to restaurants, shopping centres and the proposed Singapore  Management  University at Bras Basah Road. Public transport facilities such as the Bugis MRT Station is within walking distance, as is the Dhoby Ghaut MRT Station which is currently being converted into an interchange station for the NS and new NE line.

All Burlington Square apartments’ residents have access to a range of recreational facilities located on the 5th floor of the building. Resort styled amenities include a swimming pool, two jacuzzis set amidst a relaxing garden ambience and a viewing terrace that offers elevated views of the city skyline. The development also has a tennis court, a fully equipped gymnasium, a gazebo, a barbecue area, a multi-purpose hall, changing rooms, steam bath, and a landscaped garden. There are also ample car park lots for residents and their guests on the second to the fourth floor of the development.

Wing Tai’s deputy chairman Edmund Cheng said that the Burlington Square apartments is ideal for investors who are looking for high rental returns and professionals who want to be within easy access of the central business district.

“Burlington Square apartments have the quality standard in design and facilities that buyers have come to expect from the developers involved in this project. Excellent facilities in this centrally located residential unit makes it particularly attractive for the leasing market and its highly tenanted status reflects its popularity amongst the expatriate community.”

Mr Chia Ngiang Hong, Group General Manager of CDL, added, “With its ideal prominent location, easy accessibility and very attractive rental returns, Burlington Square apartments will be a draw to potential homebuyers and investors who enjoy the sophistication of urban living.”

 

About Wing Tai Land

Wing Tai Land Pte Ltd is a leading property investment and management company with an established track record of quality developments spanning Singapore, Malaysia, Hong Kong, China and Indonesia. It is a wholly owned subsidiary of Wing Tai Holdings Ltd and a member of WingTai Asia, a regional network of publicly-listed companies, which also includes DNP Holdings in Malaysia and USI Holdings in Hong Kong, each involved in a diversity of business ventures.

 

About City Developments Limited

City Developments Limited has been in the forefront of Singapore’s property industry since its inception in 1963. Today CDL is an international property and hotel conglomerate involved in 3 main businesses; real estate development and investment, hotel ownership and management and Internet investment. CDL is Singapore’s largest developer with a track record of about 40 years of building 15,000 homes here and in the region.

 

 

 

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