Ever since the Margaret Drive site was acquired by MCL Land back in December 2016, the property group looks set to launch Margaret Ville in hope to revive the buoyant spirits within the Queenstown precinct – which was left off by the last condo launch, Queens Peak condo in 2016.
In fact, MCL Land’s bullish bid (of $238.39 million or $997.85 psf ppr) for the 99-year leasehold site had exceeded market’s expectations at that point of time, costing significantly much more than the land prices of other nearby sites which were sold in recent years.
So here’s what to expect from the new Margaret Ville condo.
Margaret Ville Developer
MCL Land, one of the real estate arm of Hong Kong land, is one of the leading property groups in Singapore which has a excellent track record of construction quality homes in both Singapore and Malaysia over the last 5 decades.
In recent years, the group has focused mainly in developing private residential projects in the western region of Singapore, being well-known for three of its most recent projects, J Gateway, Lakeville and Lake Grande – all being located near the future Jurong Lake District and Jurong Business District.
According to the Singapore’s Building and Construction Authority (BCA), MCL Land received a CONQUAS (Construction Quality Assessment System) score of 92.8% and 94.3% for J Gateway and Lakeville respectively.
A high score attained under CONQUAS significantly means that a building has superb quality workmanship.
Margaret Ville Location
Margaret Ville is located at 20 Margaret Drive, Singapore 149312 – along the stretch of Commonwealth Avenue and in between Church of Our Savior and Queensway Secondary School.
As compared to its immediate neighbouring projects such as Commonwealth Towers and Queens Peak, Margaret Ville is significantly further away from the Queenstown MRT station (about 500 metres). However, the good thing is that residents will still be within just minutes’ walk away.
In addition, Margaret Ville is also situated close to One-North, which is home to many major pharmaceutical and biotech companies, providing future homeowners at the new Queenstown condo with a substantial pool of potential tenants.
Margaret Ville Condo Facilities
Despite being a smaller private residential project as compared to the likes of Commonwealth Towers and Queens Peak within the Queenstown estate in recent years, residents at Margaret Ville can be reassured that they won’t be shortchanged in terms of the scale of facilities within the development itself.
Within the development, it will comprise of a decently sized infinity edge swimming pool, a pool for hydrotherapy, a state-of-the-art gym and also an executive club lounge for hosting your guests and friends.
And most importantly, the low density living within Margaret Ville will also ensure that privacy and low noise levels within the condo are being observed and there is no need for residents to vie over the facilities in time to come.
Margaret Ville Floor Plan and Unit Type
Margaret Ville will comprise of only one 40-storey tower with a total of 309 private residential units.
It sits on a site spanning across mere 51,775 square feet and is estimated to receive its T.O.P by December 2021.
The following is a list of Margaret Ville floor plan and its unit types:
- 1-Bedroom (463-sqft)
- 1-Bedroom + Study (527-sqft)
- 2-Bedroom (657 to 700-sqft)
- 2-Bedroom + Study (829-sqft)
- 3-Bedroom (915 to 969-sqft)
- 4-Bedroom (1184-sqft)
Margaret Ville Price Guide
The following is an indication of Margaret Ville condo price indication as of 10 January 2019. Please note that prices may be subjected to future changes and discounts may be offered, so do drop us a note if you need an update.
- 1-Bedroom – from $949,000
- 1-Bedroom + Study – from $1.08 million
- 2-Bedroom – from $1.346 million
- 2-Bedroom + Study – from $1.699 million
- 3-Bedroom – from $1.875 million
- 4-Bedroom – from $2.427 million
Margaret Ville Showflat
The Margaret Ville showflat is located along Jalan Penjara Road, next to the Queenstown public library along Margaret Drive.
The official opening hours have yet to be announced, thus kindly contact us at (+65) 6631-8384 and send us a message via the form below to check with us on that.
Margaret Ville Review
If you’ve read through the above, you will realize that I’ve mentioned a lot on Commonwealth Towers and Queens Peak – which are the newer projects within the Queenstown area. So before we go into the in-depth Margaret Ville review, let us look at how they line up when we put the price in perspective, using data from the last 10 transactions.
|PROJECT NAME||TENURE||NO. OF UNITS||AVERAGE PSF($)|
Just simply by looking at the indicative per square foot (psf) price of Margaret Ville, it’s already pretty hard to ‘digest’.
First of all, it’s not as near to the MRT station as compared to the other 2 projects.
And at more than $2,000 psf, you would expect something with a slightly more prestigious address in today’s property market. But the fact is that MCL Land had forked out a somewhat staggering price for this land parcel at Margaret Drive, so they have really no choice but to sell their units at Margaret Ville at such prices.
Whatever developers have paid for or invested, it will directly translate into the buyer’s eventual purchase price. And with the increasing construction and labour cost, I personally doubt MCL Land is making a lot out of this development as they remained as conservative as possible with the prices of the units.
I am sure many will be telling you that property prices in Queenstown can only get higher – especially with Logan Property launching the nearby Stirling Residences in a couple of months’ time, which is likely to be priced even more than the units at Margaret Ville based on the trend.
Personally, I do agree this is a fact. But as a property buyer, do you really have to follow this “trend” and be forced to accept Margaret Ville’s pricing and get a unit there?
Yes – only IF that’s your only option now in the Queenstown area, which is not exactly this case on this day when the review was published. There are still units at Queens Peak, or even some in the neighbouring Redhill precinct such as The Crest or ARTRA which are selling at even lower psf prices. However, I do believe that units will be snapped up quite fast at this point of time, so you’ve really got to act fast as these options will put you in a significant price advantage in future.
To sum up, it’s not that Margaret Ville is a wrong choice when comes to buying a property of this quality in the city fringe of Singapore. But until the remaining stocks in those earlier neighbouring projects have been cleared, personally I will not be considering Margaret Ville anytime soon.