Robertson Quay neighborhood has experienced a rise in sales activity especially near Martin Road and River Valley, as the preview of Martin Modern showflat approaches.
For instance, at RiverGate, a 3 bedrooms unit measuring 1,507 sqft located on 37th floor fetched $3.05 m ($2,024 psf) based on caveat lodged on April 12. RiverGate is a freehold development of 546 units fronting Singapore River. Completed in 2009, the project was jointly developed by Hwa Hong Corp and CapitaLand.
With 43-storeys, the project is a landmark since other projects nearby have a limit of 10-storeys including Robertson 100, 8 Rodyk, UP @ Robertson Quay, Robertson Blue and Watermark Robertson Quay.
Watermark Robertson Quay located on Rodyk Road had its 2 bedrooms unit on 6th floor measuring 883 sqft fetch $1.58 m ($ 1,790) based on April 12 caveats. The freehold project by Hong Leong Holdings with 206 units was completed in 2008.
Next to Watermark Robertson Quay is UP @ Robertson Quay project and M Social, a 293 room designer hotel adjoining it, a project by City Developments. The hotel is managed by Millennium & Copthorne, a hotel arm of CDL listen in London. UP @ Robertson have 70 units in a mix of 1 and 2 bedrooms apartments with loft style. Its launch was in mid-2012 and completed in 2016.
The neighborhood of Robertson Quay is going through a makeover. In 2016, 3 new hotels were opened, the current one being The Warehouse Hotel, a boutique hotel with 37 rooms by Lo & Behold Group. Sheraton Singapore launched Four Points of 476 rooms in 2016 after rebranding it with a makeover of $25 million from the previous Riverview Hotel.
M Social was opened in early 2016, and then Inter-Continental Singapore Robertson Quay with 225 rooms followed replacing the previously known Gallery Hotel.
The Martin Road-Martin Place area has had no new launches since Starlight Suites in 2010. The freehold project with 105 units in a tower of 35-storeys had its completion in 2014. The 23 units remaining were sold to Evia Capital for $48 million in 2016 to prevent the developer from paying the extension charges.
Next to Starlight Suites is Martin Modern that is coming up, a luxury condominium by GuocoLand with 450 units. According to SRI managing partner, Benson Koh, the project is expected to have a high take up when it is launched.
Although prices have not been released, its marketing agency, PropNex Realty has indicated $2,300 psf to be its average price.
GuocoLand acquired the 480,307sqft site, in June 2016 at $595 million ($1,239 psf ppr) in a government land tender. The site, on a 99-year leasehold front Martin Place Residences and it was hotly contested as it attracted 13 bids.