UEM Sunrise aims to fully sell Conservatory by next March

MELBOURNE (Oct 22): UEM Sunrise Bhd aims to sell all units at its 42-storey Conservatory project at the city centre here by March next year, said chief operating officer for commercial development Raymond Cheah at a press conference yesterday.

So far, the developer has sold 65% of its 446-unit luxury apartment project at Mackenzie Street at the city centre here ahead of its official launch yesterday, according to managing director and CEO Anwar Syahrin Ajib.

The unit types available include 1-bedroom, 2-bedroom/1-bathroom, and 2-bedroom/2-bathroom apartments with built-ups ranging from 82 sq m to 181 sq m. Prices start at A$447,000 (RM1.38 million) for a 1-bedroom/1-bathroom apartment. The Conservatory has a gross development value of A$320 million.

The freehold project opened for worldwide preview in August this year and targets a few markets such as China, Brunei, and countries in Europe.

“Interestingly, the first apartments to go are the entire top level of penthouses. What is pleasing is that the apartments have been purchased by both local and overseas buyers,” said Anwar in his speech yesterday.

The four penthouses at the top level of The Conservatory were sold to a mystery Singaporean buyer for A$7 million. There are two types of penthouses, one called The Carlton Collection, the other The Royal Collection. Those that were purchased by the Singaporean buyer were from The Royal Collection.

The facilities of the Conservatory are located on the 7th, 38th and 42nd floors and comprise pools, patios, entertainment rooms, and a skydeck that overlooks the heritage-status Royal Exhibition Buildings and the Carlton Gardens.

Meanwhile, UEM Sunrise also unveiled the Conservatory’s show unit yesterday, which comprised a 2-bedroom/2-bathroom apartment unit and a 1,500 sq m garden compound.

UEM Sunrise currently has a pipeline of projects with a GDV of RM87 billion over the next seven years in Malaysia, Australia, Canada and South Africa.

This story first appeared in The Edge Property pullout on Oct 23, 2015, which comes with The Edge Financial Daily every Friday. Download The Edge Property here for free.