Far East Launches The Siena at Farrer Road

Source: Business Times – 7 May 20133

Far East Organization, which sold seven units of its ultra-luxury development Ferra, is also privately previewing The Siena.

Comprising 54 compact SOHO apartments, unit sizes of The Siena’s one to three-bedroom apartments range from 538 to 980 square feet (sq ft).

The majority of the units are two-bedroom apartments to cater to families.

BT understands that prices start from $1.28 million for a 538 sq ft unit, which translates to about $2,380 per square foot (psf).

The fifth project to be developed under the Far East SOHO brand, The Siena, which is located on Farrer Road (next to Lutheran Towers), offers high ceilings, as well as a unique layout and space planning concepts.

The 99-year leasehold development is located within the Bukit Timah residential precinct, close to schools including Nanyang Primary School and St Margaret’s Secondary School. It is close to Botanic Gardens and MRT station.

Far East won the tender for the Government Land Sales site in August last year. With a top bid of $45.8 million, or $1,107.80 per square foot per plot ratio, the developer successfully muscled out 14 other bidders.

Separately, BT understands that seven out of the 30 units released at the 104-unit Ferra were taken up. Prices for the 103-year leasehold project started from $3,160 per square foot, or $2.3 million for a 732 sq ft unit.

Of the unit types available, the most popular are those that range from 883-893 sq ft. The project features three types of units – 32 units which are 732 sq ft; 70 units that range from 883-893 sq ft; and two 2,013 sq ft penthouses.

The development, which is coming up on the site of the current Leonie View serviced apartments which Far East is redeveloping, is part of the ultra-luxury Inessence brand.

The Inessence brand, which was launched in 2010, has three existing residences in its portfolio – Boulevard Vue, Alba, and Skyline@Orchard Boulevard.

Ferra features a semi-white plan which allows homebuyers to customise their living spaces. With the layout of only the kitchens and bathrooms fixed, owners are able to determine the number of rooms they want by deciding on the number of walls and partitions to be constructed within each unit.

Buyers can also pick from a selection of interior themes which were chosen by Italian car designer Paolo Pininfarina.

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