The Atelier Condo
Project Name | The Atelier |
District | 09 |
Developer | Bukit Sembawang Limited |
Address | 2 Makeway Avenue Singapore 228599 |
Showflat Location | Makeway Avenue, Newton (Click here for more) |
Developer Sales Hotline | +6561003780 |
Est Indicative Selling Price Range | Above S$ psf (Click here for more) |
Tenure | Freehold |
Description | The Atelier, former Makeway View condo, a new condo, going to re-develop by Bukit Sembawang Limited. Target to launch in 2019, and for official details project details, floor plans, showflat appointment to be obtained at https://www.the-atelier.com.sg |
No of Units | Approx 154 units |
Site Area | 41,582 square feet |
Re-visit and Review on Bukit Sembawang Limited Emerged As The Developer of The Atelier condo
We are formerly known as Makeway View at Makeway Avenue, now named as The Atelier. Bukit Sembawang Estates Limited successfully acquired The Atelier through an en block sale for $168 million. The purchase price for the collective sale was also the asking price of the collective sale for the freehold property was tendered.
As noted by the company that brokered the sale, the sale price of The Atelier reflects a land rate of $1,626 psf ppr. This includes development charges amounting to $21.26 million. From the revenues from the sale of The Atelier, owners of the 28 apartments and 4 penthouses featured in the 10-storey building are expected to receive between $3.86 m and $10.74 m per unit.
The Atelier is situated in the prime district 9 and was developed in the late 1980s occupying a land size of 41,582 sq ft with allowable GFA of 2.8.
Bukit Sembawang plans to develop the site into residential apartments that feature communal facilities. Once approved by the respective authorities, the land can be developed to a 21-22 storey apartment building that features 154 units with an average size of 70 sqm.
According to Swee Shou Fern, a senior investment advisor to Edmund Tie & Co., this upcoming real estate will allow its residents to enjoy a spectacular 180-degree view of the city and its beautiful greenery without any distractions.
The developer of The Atelier plans to use its resources and bank borrowings to fund the redevelopment of the site.
The Atelier is well situated close to prominent schools such as St Joseph’s Institution Junior, Anglo-Chinese School (Barker Road) and Anglo-Chinese School (Junior). The property is also a walking distance(400m) from Newton MRT station.
The site is also expected to enjoy unlimited shopping and dining options due to its proximity to Newton Food Centre, Novena Square, United Square and the reputable Orchard Road shopping belt that is just 5 mins drive away.