Investing in southeast Asia:Savills international is selling apartments in a luxury residence adjoining the 20-storey St Regis Hotel, currently under construction on Orchard Road, Singapore.
Those familiar with Singapore will recognise the significance of an Orchard Road address, a leafy upmarket area within walking distance of the city centre. The site is also bounded by Tanglin, Tomlinson and Cuscaden Roads in the prestigious District 10 area.
Situated in the hotel grounds, the two 23-storey towers will house 173 high-spec apartments and penthouses, which will be furnished to the highest of Asian standards. Residents' privileges from the hotel will include a butler service, house-keeping, in-residence dining, spa and gymnasium and a personal fitness trainer.
St Regis Residences is aimed at the top end of the market and the developers are hoping to attract wealthy business people from all corners of the globe. Prices start at £1.51 million (€2.22m) for a 139sq m (1,500sq ft) three-bedroom apartment and £1.94 million (€2.85m) upwards for four-bedroom units of 182-362sq m (1,959-3,897sq ft).
For this, you get a top quality finish and amenities to please discerning jet-setters. Flooring will be in white marble and timber from South America. Bulthaup kitchens will come with Miele steel appliances and Corian worktops. Granite vanity units and twin sinks are included in the bathroom fitout, while wardrobes are by German design company Truggelmann.
Residents will have the use of a 25mpool, cigar lounge, tennis courts, spa and gymnasium. Parking will also be supplied. Gardens will have a children's playground barbecue terrace, clubhouse and fountains.
Singapore is the sophisticated hub of the southeast Asia and much business across the region is transacted here. Savills' sales pitch for St Regis Residences includes the information that Singapore has an attractive tax regime, with no capital gains tax, less than 10 per cent rental tax, zero estate duties on properties worth up to £3 million (€4.4m), no foreign exchange restrictions and no restrictions on reselling. The St Regis Hotel is expected to open late this year, while completions at the Residences are scheduled for 2008.
