CEL starts preview of TMW Maxwell; units priced upward of S$3,000 psf
TMW Maxwell, a mixed-use development located at 20 Maxwell Road, will commence its preview on Saturday, July 29. The project, jointly developed by CEL Development, SingHaiyi Investments, and Hong Kong-listed Chuan Investments, offers units with prices starting from S$3,000 per square foot (psf). The development, sitting on the former site of Maxwell House, a 13-storey commercial building, boasts a 99-year leasehold.
The project spans 41,799.5 sq ft with a gross plot ratio of 5.95. It was acquired through a collective sale tender in May 2021, with CEL Development placing a winning bid of S$276.8 million, surpassing the S$268 million reserve price by 3.3 per cent. This translates to a land rate of S$1,665 psf per plot ratio.
TMW Maxwell will be the first of four residential projects to launch in Singapore’s central business district. The other upcoming launches in the area include Newport Residences by City Development Ltd, Skywaters Residences by Perennial Holdings, and Marina View Residences by IOI Properties.
The development features a single 20-storey residential block comprising 324 units, as well as a three-storey basement car park and a four-storey commercial podium offering shopping, dining, and socializing options.
Among the residential units, around 62 per cent (201 units) are designed as “flip/switch” studio units, ranging from 44 sq m to 45 sq m in size. These studio units come equipped with flexible furniture, such as movable walk-in wardrobes and queen-size Murphy beds with integrated sofas, allowing for highly adaptable living spaces.
Additionally, there are 73 one-bedroom units, sized between 48 sq m and 82 sq m, and 50 two-bedroom units, ranging from 73 sq m to 81 sq m.
The indicative price range for the majority of units is between S$1.5 million and S$2 million, with estimated maintenance fees of around S$400 per month for studio and one-bedroom units and S$500 per month for two-bedroom units.
“We aimed to create a space where the possibilities are unlimited with TMW Maxwell, and we are thrilled to witness its realization,” said Raymond Chia, the Chief Executive Officer of Chip Eng Seng Group.
Sales for TMW Maxwell will officially begin on August 12, with the expected date of delivering vacant possession notices being June 2028.
