THE SHORE (Review)

District: 15
Location: Katong/Marine Parade
Address: 81 – 87 Amber Road
Developer: Far East Organization
Tenure: 103-years Leasehold

Why is this project called THE SHORE you may ask, since it is not exactly near the beach? Well, this is because the swimming pools on the ground level actually have real sand around them and sand also covers the bottom of the pools as well. This allows residents to enjoy the senses of beautiful shores right at their doorsteps.

But what intrigued the wife and I most about THE SHORE is not the sandy “beaches” and pools, rather the fact that this is one of the rare projects that has no bay windows or planter boxes in each apartment unit. So we finally decided to pay a visit to the sales gallery at lunch yesterday to check out the showflats.

The SHORE is located at the corner of Mountbatten and Amber Road, where the former Rose Garden used to be. The entrance to the sales gallery (and also where the main entrance to THE SHORE will be located) is along Amber Road, after the right turn from Mountbatten/Amber Road junction.

THE SHORE (or The Shore Residences) is a 408-units condo project consisting of 6 towers of 20-storey each. It is built on a 191,000sqft L-shaped site and has a plot ratio of 2.1. As some of you may recall, this is one of the two developments (the other being The Greenwood) that Far East has decided to sell on a 103-years lease although the land is freehold. The expected TOP of THE SHORE is December 2013.

In terms of unit size, THE SHORE has a mixture of 1 to 4-Bedroom units. Towers A1/A2 and D1/D2 have only 1 and 2-bedders, while the bigger 3 and 4-Bedrooms and penthouses are found in towers B and C. The different unit types and sizes are:

• 1-Bedroom (84 units): 592 – 732sqft
• 2-Bedrooms (208 units): 872 – 1055sqft
• 3-Bedrooms Compact/Regular (88 units): 1141sqft/ 1292 – 1507sqft
• 4-Bedrooms (24 units): 1378 – 1432sqft
• Penthouses (4 units): 2766sqft

The facilities in THE SHORE centre on the “sandy” swimming pools fronting the four towers on the ground level. So you can expect things like spa pool and pavilions, lagoon pools, BBQ cabanas, “Shore Bungalows” – which are like club houses with dining facilities, and even a strip of sandy beach.

The 409 carpark lots are found within an L-shaped carpark podium that is 5-storey high, located behind the towers. In other words, you get a multi-storey carpark in this project with just about enough carpark lots for each apartment unit. And given the apparent lack of public parking around the development, your visitors are better advised to take public transportation to save them from the frustration of having to hunt for parking spaces. More facilities are available on the rooftop of the carpark podium – a 50m lap pool (normal with no sand), “Cliff Villa” and Garden Pavilions, more BBQ pavilions, steam rooms, gym and TWO tennis courts.

There are 3 types of showflat at the sales gallery. The first is a 1292sqft 3-Bedroom (Regular) unit (Type C1). As you enters the front door, a narrow walkway leads you into the rectangular living/dining room. We were surprised at how small this is, i.e. if you minus off the 100sqft of balcony that has been “marbled” up to conjure the impression of a much bigger living/dining area. But you can technically do the sdame, since the balcony doors are those that you can “fold and tuck”’ towards the sides. It comes with 60cm x 30cm marble-slab floor and 2.85m ceiling height.

The dry kitchen comes with solid surface top, its own sink and cabinets. This extends to the L-shaped wet-kitchen, which is rather small. Far East has thrown in quite an extensive range of kitchen appliances – you get “Bosch” hood/hob/oven /microwaves/coffee maker/2-door fridge, a small “Vintec” wine-fridge and even a sophisticated looking set of dish drying rack on top of the kitchen sink. There is a small yard area with a small wash basin/low cabinet incorporated. The bomb shelter/maid’s room (will fit a single bed and probably nothing else) and toilet are located at the yard.

The common bath is quite good size, with marble floor/walls and “Ideal Standard/Newform” bathroom fittings.

The pleasant surprise actually comes from the bedrooms – the 2 common bedrooms that are next to each other are very good size for a 1200+sqft apartment. The lack of bay windows actually allows you to maximize the space in each room without having to rack your brains on how to incorporate the bay window ledge into your room design. As such, you get a much bigger room. The wardrobes looked to be of good quality, and it comes up the same UV light panels for moisture adsorption ala Silversea.

The master bedroom is big – it is fitted with a “King” bed and still looked very spacious. It also comes with a gorgeous L-shape transparent glass wardrobe, which unfortunately is a tad too small in our opinion. The master bathroom is decent size, and separated from the bedroom by “glass walls” all around. So you can actually admire your partner taking a shower, or a dump, for that matter. You get a long tub, a separate standing shower stall fitted with overhead rain shower, and “Ideal Standard/Newform” bathroom fittings. We especially like the creamy-white marble floor/black marble walls colour combination in the bathroom.

The next showflat is a 1141sqft 3-Bedroom (Compact) unit (Type C2). The “Compact” 3-bedder is almost a replica of the “Regular” in terms of layout and the interior furnishings/fittings/kitchen appliances provided. The noticeable differences are

• No proper yard to speak of – The bomb shelter/maid’s room is located at the end of the wet kitchen, and there is no additional bathroom here as well.

• The common bathroom has marble flooring but only ceramic tiles for the walls.

• The common bedrooms are diagonally opposite to each other (instead of adjacent) and one of these is very small. This is because the back of the master bedroom’s wardrobe “sticks” into this room.

• The master bedroom is slightly smaller in size, but is still good for a “King” bed.

• The master bathroom does not have separate long tub/standing shower. What you get is a long tub with a rain shower fitted on top of it.

Floor Plan: Type C1 & C2

You will see that the layout for the 1378sqft 4-Bedrooms (Type D2) is almost the same as that for the regular 3-bedder (Type C1). The only difference is that the third common bedroom is located in the “void” next to the common bathroom.

Floor Plan: Type D2

The last showflat is the 883sqft 2-Bedrooms unit (Type B1). This is actually the one that both the wife and I liked best. It has a very nice layout that makes the unit felt far more spacious than the tiny 883sqft of space it occupies. Again, this unit comes with almost exact kind of interior furnishings/fittings/kitchen appliances as the other two showflats. It has a small squarish living/dining room and a tiny L-shape wet/dry kitchen combined. The bomb shelter is located at the end of the kitchen, but there is no yard or toilet. Both the common room and bathroom (marble floor/ceramic wall) are surprising good size, while the master bedroom is very spacious and fitted with the same eye pleasing L-shape glass wardrobe – so make sure your clothes are not ugly and neatly stored. The master bathroom has a sunken bath with overhead rain shower.
Floor Plan: Type B1

What we like:

• NO BAY WINDOWS OR PLANTER BOXES! Or have we not remonstrated on this point enough? 🙂
It is amazing the amount of additional space you can get out of your unit just by eliminating these, as demonstrated by the showflats we saw at THE SHORE. Definitely something that the other developers should think about, especially for projects with “mickey mouse” units!

• The very functional unit layouts, especially with the 2-bedder, which makes the units feel larger than their actual sizes.

• The quality of interior furnishings and fittings provided, which adds an additional level of “class” to the apartments.

• The unique “beach by the pool” feature – now you do not have to thread across to East Coast Park for your “sun and sea” fix. We have forgotten to ask if salt-water is used in the pools though.

• THE SHORE is relative close to the City/CBD, as well as the upcoming Marina Sands IR. You can also find almost all the amenities you will need at Parkway Parade, which is only minutes’ away by foot. Last but not least, you will be spoilt for choice with the numerous eateries just down the road (i.e. along Katong/Joo Chiat Road).

What we dislike:
• The living/dining room for the 3-bedder showflats is disproportionately small compared to the bedrooms. The wife and I will prefer a slightly bigger living/dining space since we do entertain from time to time.

• The 6 towers are built too close to each other. The distance between Tower B and the adjacent Tower C is only a mere 2 meters apart from each other! Looking at the site plan, we feel this may not be a suitable project for those with claustrophobia.

• THE SHORE is likely to be “blocked” on 3 sides – by high-rise apartments (e.g. Esta, Vertis) on the left, Paramount Hotel on the right, and The Seaview Condo at the back. It is only unblocked in the front, given that there are height restrictions imposed on developments across from Mountbatten Road. However, you are met face-on by the ugly Katong Shopping Centre building, which is definitely not a pretty sight. The consolation is that this mall is up for en-bloc sale and thus may not be around by the time THE SHORE is ready for occupation.

• If you are familiar with Mountbatten Road, you will know that it is quite a traffic nightmare along this stretch of road especially during rush hours. The situation can only get worse as more new condos (e.g. One Amber) start to come online.

• Only one primary school is within 1-km from THE SHORE – Tanjong Katong Primary. This is a very popular primary school and if past history is anything to go by, balloting is still the order of the day for those living within 1-km from the school.

The take-up rate for THE SHORE is pretty good. Since its official launch at the start of this year, we estimate (from the big wall chart listing all the units that are sold) that almost 70 – 75% of the launched units have been sold. This includes all the 1-bedders and all but 2 units of the regular 3-bedders. Units in Tower C are not launched yet, and we were told that there will be a price adjustment (upward, of course) from 1st March onward.

Price wise, here is a sample of what you can expect to pay:
• A 1141sqft 3-bedder on the 14th floor (South facing) costs $1.59 million, or around $1393psf

• A 1292sqft 3-bedder on the 4th floor (North Facing) costs $1.50 million, or $1161psf

• A 883sqft 2-bedder (#13-02, facing the small orchid located between The Shore and The Seaview condo) costs $1.13 million, or $1280psf

• A 883sqft 2-bedder (#14-01, facing the lap-pool/facilities on top of the carpark podium) costs $1.2 million, or $1359psf

In summary, the wife and I believe that Far East has finally got it right with THE SHORE by eliminating the bay windows and planter boxes, which in our humble opinion, are just a waste of good space. Buyers who are comfortable with “smaller” units will be pleased with the relatively smaller quantum amount you need to foot for a unit at THE SHORE. And to add the icing on the cake, we were told that it will be at least one year after the first 20% down payment before the next trench of payment is due. However, for those who are thinking of buying a unit for rental, do be forewarned that almost 80% of the smaller 1 and 2-bedders sold thus far are supoosedly bought by investors. So you are likely to face quite a fair bit of competition on the rental front – not just with fellow investors at THE SHORE, but also from the new projects nearby.

View Site and Floor Plan here:
http://s942.photobucket.com/albums/ad265/proptalk/The%20Shore/

WATERFRONT WAVES versus WATERFRONT KEY…?

So how can the wife and I not do a comparison between WATERFRONT KEY and its counterpart next door, WATERFRONT WAVES, especially when the showflats of both are currently found in the same sales gallery?

Well, we simply cannot. So here goes.

However, we will only compare the 3-bedroom showflats, as this is the only type of showflat that WATERFRONT WAVES still displays at the sales gallery. And we must caution that the two showflat layouts are not the only ones available at the respective projects.

Waterfront Key vs Waterfront Waves http://d1.scribdassets.com/ScribdViewer.swf
 
3-Bedroom Floor Plan: WATERFRONT KEY

3-Bedroom Floor Plan: WATERFRONT WAVES

So which of the two project is a better buy? We shall let you be your own judge.
 
As for the wife and I, we prefer the 3-bedder at WATERFRONT WAVE, but we felt that it is somewhat over-priced on a psf basis compared to WATERFRONT KEY. But given that almost 95% of the 405 units in total were already sold, and the fact that most of the remaining 3-bedders are reservoir facing, we reckon WATERFRONT WAVES can afford not to price down on the unsold units.

WATERFRONT KEY (Review)

District: 16
Location: Bedok
Address: 770 – 780 Bedok Reservoir Road
Developer: Far East Organization & Frasers Centrepoint
Tenure: 99 years wef 31st Oct 2007

Responding to an email request we received this week, the wife and I, with our 5yo son in tow, visited the sales gallery for WATERFRONT KEY this afternoon.

WATERFRONT KEY is a 437-unit mass market project jointly developed by Far East Organization and Frasers Centrepoint. This 99-years Leasehold condo, which was first launched in July 2009, is made up of eight 15-Storey Towers. The project is sited on about 215,000sqft of land along Bedok Reservoir Road, and is located adjacent to Waterfront Waves, which is another 99-years project jointly developed by Far East/Frasers Centrepoint that was launched back in Feb 2008. The expected TOP of WATERFRONT KEY is in Dec 2013, one year after Waterfront Waves.

WATERFRONT KEY is marketed as a “waterfront living” project, since the Bedok Reservoir is right across the road from it. We were told by the marketing agent that Bedok Reservoir is almost 70% bigger than the whole Marina Bay area – we are taking this solely by face value, but it does look like a pretty big reservoir from where we were standing within the sales gallery. The development can also lay claim to being unblocked at the front and back – the front faces the reservoir, while the back faces Bedok Town Park.

WATERFRONT KEY is also supposedly less than 800m away from the proposed Reservoir MRT Station, which is part of the Downtown Line that will be ready by 2018. Meantime, residents without cars can take the bus (or taxi) to the nearest operating MRT stations (Bedok or Kembangan) and shopping malls in Bedok and Tampines, which we were told are about 15 – 20 minutes away. For bus commuters, you will be pleased to know that there will be a bus-stop just in front of the condo.

The units in WATERFRONT KEY come in several different layouts and sizes:
• 2-Bedrooms: 886 – 1178sqft
• 3-Bedrooms (Compact): 1007 – 1108sqft
• 3-Bedrooms (Regular): 1133 – 1742sqft
• 3+1 Bedrooms: 1331 – 1880sqft
• 4-Bedrooms: 1488 – 1566sqft
• PH: 2860 – 3038sqft
But before you get too excited about the spacious 3-bedroom units that are apparently available, these are actually ground floor units with huge PES. The typical sizes of the 3-bedders are only 1000 – 1300sqft. But the penthouses are all single-floor units, so you can expect these to be huge.

Given the relative big plot of land that WATERFRONT KEY sits on, it can afford to dedicate a significant portion of land area to condo facilities, which are all located on the ground level. So you can expect

• 2 tennis courts – this is quite a pleasant surprise, as many new development these days , even some of those higher end ones, only come with 1 tennis court at the most.
• Gym and steam rooms
• 50m main pool and other “themed” pools
• Private island next to the wading pool – these are basically dining pavilions with kitchen facilities for entertaining and parties.
• Jogging track around the condo, and outdoor fitness deck
• Children’s play area

Basement parking is provided but nobody can tell us exactly how many – we were told that there will be enough lots for 1 car per unit, with a couple of “spares”.

There are 2 showflats in the sales gallery. The first is a 1216sqft, 3-Bedroom unit (Type C1). The L-shape living/dining room comes with 60cm x 30cm marble floor and already looked rather cramp with just a small sofa and a 6-seater dining table. The rectangular balcony looks a good 50sqft in size. The dry kitchen area is next to the passageway into the living/dining as you come through the front door, and is equipped with a sink and cabinets. The wet kitchen is long and rectangular and comes with homogenous tiles flooring. You get a solid surface worktop, top and bottom set of cabinets that runs along the length of the kitchen, “Delizia” hood/hob/oven and “Newform” faucets/sink. The wife and I are hardly impressed by the quality of kitchen furnishing provided. The bomb shelter/maid’s room, with barely enough space to fit a single bed, and toilet are located at the end of the kitchen. There is no yard for the 3-bedder unit.

The common bath has 60cm x 30cm marble floors, and the wall tiles is supposedly the “special quick drying” type so that moisture will not retain on the wall. The toilet fittings are functional but non-descript, so we cannot tell you exactly what brands of fittings you can expect (and neither can our marketing agent). The two common rooms are small but regular shape, so your options on bedding is probably limited to “super-single” or “double-decker” beds if you do not want your rooms to contain just a bed and nothing else. The workmanship of the wardrobes is atrocious – uneven edges and a horizontal piece of wood panel that sticks out like a sore thumb noticeably across the length of the wardrobes.

The master bedroom has enough room to fit in a “queen” bed comfortably, and the amount of wardrobe will probably help save you quite a bit of money on clothing if you can stick strictly to the space provided. The master bathroom is surprising huge, with marble floor/wall but again some non-descript bathroom fittings. A sunken bath is provided, which is a nice touch. However, you only get one of those ordinary wall mounted shower, which is a pity.

The other showflat is a 1518sqft, 4-Bedroom unit. You get a larger living/dining area that comes with similar 60cm x 30xm marble flooring, a rectangular balcony of almost 80sqft that you can fit a 6-seater long dining table comfortably, and a L-shape wet kitchen that is of good size and equipped with similar appliances/ fittings/top & bottom cabinets as the 3-bedder showflat. There is no dry kitchen provided in this unit, which is actually a good thing as it makes the whole living/dining area feels bigger. You also get the same small bomb shelter/maid’s room and toilet as per the 3-bedder, but at least the 4-bedder comes with a small yard equipped with built-in worktop/low cabinet and wash sink.

The 3 common rooms are slightly larger than those in the 3-bedder, but they all have to share the same common bathroom. The wife and I are again unimpressed with the quality of the wardrobes and bathroom fittings.

The master bedroom is much larger, which should allow you the options of either fitting just a “King” bed or a “Queen” bed with study table against the bay window and still have sufficient walking space around the room. It comes with a walk-in closet, which gives you slightly more wardrobe space. The master bathroom is about the same size as the 3-bedder, but it feels much smaller as you now have a long bath and a separate standing bath stall (but with rain shower this time) fitted into the same amount of space. And the toilet bowl actually faces directly at the bed once the toilet door is open. This is suppoosedly quite bad in Feng Shui speak.

What we like:
• The fact that WATERFRONT KEY is unblocked at both the front and back means you will get a “view” irrespective of your unit’s facing. Apartments facing the main Bedok Reservoir Road (all 4-bedders and penthouses) will get the reservoir view, while units at the back with have a park view. Inward facing units will overlook the pool areas and greeneries within the condo.

• Although WATERFRONT KEY is not located near any big malls, ample amenities can be found within the HDB estates that is about 2 bus-stops away. The wife and I saw a big Sheng Siong supermart, many neighborhood shops and food outlets along Bedok Reservoir Road just before reaching the showflat.

• WATERFRONT KEY is located fairly close to Changi Business Park, the Japanese School as well as the upcoming United World College of SE Asia campus (2010) and Fourth University (2011). So there may be some good demand for rentals.

• Parents that need to find primary schools for their kids will be happy to know that there are several schools within 1-km of WATERFRONT KEY – Damai Primary, Yu Neng Primary and the very popular Red Swastika Primary School.

What we dislike:
• The quality of furnishing and fitting left relatively little to be desired. And we are not even comparing WATERFRONT KEY by applying the same standard we use for the higher end projects that we have seen so far. But even for a mass market condo, the two developers, being heavy weights in the property sector, can certainly do better than what they have showcased in the showflats.

• Although there is supposedly a 22m ingress between the row of apartments facing the reservoir and the main road, we suspect this is insufficient insulation from the traffic noise along Bedok Reservoir Road, which we understand is quite busy especially during rush hours.

• WATERFRONT KEY is a 427-unit project, while Waterfront Waves next door has another 405 units. We also understand that the land parcel located next to Waterfront Waves is scheduled to be developed into 2 other condo projects (all part of the Far East/Frasers Centrepoint “Waterfront” collection) that will be launched sometimes later this year and in 2011. As such, one can expect at least 1,200 new apartment units along this small stretch of Bedok Reservoir Road in a few years time. This is in addition to the existing condo developments (Aquarius by the Park, The Baywater) and HDB estates that share the same stretch of road. So be prepared for some heavy duty traffic jams on a daily basis, and possibly fierce competition in the apartment rental front when all these new apartment units get their TOPs.

We understand that about 50% of the units in WATERFRONT KEY have been sold as of today. In particular, Towers F, G and H are almost fully sold while Tower E is 50% sold. But you can still get ample choices from Towers A – D.

With regard to pricing, here are two selective indications:
• A reservoir-facing 1518sqft, 4-Bedroom unit on the 6th floor (#06-01) will cost you $1.38 million after discount. This equates to around $909psf.
• A park-facing 1227sqft, 3-Bedroom unit on the 14th floor (#14-10) will cost you $1.01 million, or $823psf

HOWEVER, the wife has done some research on past transactions for this project, and we found that most of the transactions from July 2009 to January 2010 were concluded at below $800psf.

In summary, the wife and I feel that WATERFRONT KEY will probably appeal to the die-hard “waterfront living” buyers that do not want to pay the Marina Bay Residences or even Silversea prices. However, WATERFRONT KEY is second rate at best (in our humble opinion, of ocurse) when you compare it with other “waterfront” projects, if the quality we have seen is what we will get.

See pictures and floor plans at:
http://s942.photobucket.com/albums/ad265/proptalk/Waterfront%20Key/

Farewell, Mr. Ng Teng Fong…

By Channel NewsAsia, Updated: 02/02/2010
Singapore property tycoon Ng Teng Fong dies

SINGAPORE: Singapore billionaire property tycoon Ng Teng Fong has died.

Family friends have confirmed that the 81-year-old tycoon died on Tuesday.

Mr Ng and his family owns Singapore property developer Far East Organization and Hong Kong’s Sino Group.

He was ranked Singapore’s richest man in 2009 by Forbes magazine. His family net worth was estimated at US$8 billion in 2009, according to Forbes.

Mr Ng was said to have made his fortune on the property market, and owned at least a quarter of Singapore’s housing market.

Far East Organisation developed more than 700 hotels, malls and condominiums in Singapore and Hong Kong, and owns Singapore’s Fullerton Hotel.

Mr Ng was also one of Hong Kong’s largest real estate developers. He was known for his frugal lifestyle, and till his death, still lived in his home of 30 years, off Dunearn Road.

Mr Ng had six children. His older son, Robert, and younger son, Philip, are in charge of the Hong Kong and Singapore businesses, respectively.

– CNA/sc

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VISTA RESIDENCES – Hot off the grapevines!

The wife has received information today that Far East will raise the prices for VISTA RESIDENCES by another 2% come next Monday.

Also, the 4-Bedrooms showflat is now ready for viewing.

So for those of you who are interested in this project, bring your cheque book and head on down to the sales gallery before Monday!

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CENTRO RESIDENCES (Review)

District: 20
Location: Ang Mo Kio
Address: 59 Ang Mo Kio Ave 8
Developer: Far East Organization
Tenure: 99-years Leasehold

When the wife and I first heard about Far East launching CENTRO RESIDENCES with prices starting from $1100psf back in August last year, the first reaction that came to mind was… “Siow” (Crazy). We wondered why anyone would consider paying such high price for a project that is
• Leasehold
• Located in a suburban estate (Ang Mo Kio)
• Located near to other condo projects that were selling at less than $850psf
• Consisting of what we can only deem as “Mickey Mouse” sized apartments: the 4-bedders are less than 1300sqft, unless you opt for the penthouses.

This was despite the fact that CENTRO RESIDENCES is located at the heart of Ang Mo Kio Town Centre, next to AMK Hub mall and its air-conditioned bus interchange, and just across the road from Ang Mo Kio MRT station. These were the main selling points of the project.

However, we seemed to be proven wrong when a total of 93 out of 144 units released in the first phase were sold within the first 3 days of preview. The good take up rate has prompted Far East to announce that they will market CENTRO RESIDENCES in phases over the next three years till the TOP of the project, so as to take full advantage of the vast potential expected for the enhancement of real estate values in the Ang Mo Kio area. They were also confident that CENTRO RESIDENCES will be fully sold before its TOP. Prices for the remaining units were further raised to about $1250psf, with one units transacted at $1289psf.

So the wife and I finally decided to see for ourselves what all this hype with CENTRO RESIDENCES is about, and we made our way to the sales gallery yesterday.

The sales gallery for CENTRO RESIDENCES is located on an open ground along Ang Mo Kio Ave 8 next to “Grandeur 8” (another condo), about 700m away from the actual site.

CENTRO RESIDENCES consists of 329 apartment units located within a 34-storey Tower. The land size that CENTRO RESIDENCES sits on is rather small, about 69,000sqft, which explains the high plot ratio of 4.9. The expected TOP of this project is in 2013. The apartment units actually start from the 7th floor, providing residents a panoramic view of the city skyline or the lush greenery at Ang Mo Kio Town Garden East/West parks.

The recreational facilities at CENTRO RESIDENCES are situated on the 6th and 34th storeys, presenting all residents with scenic views while they relax or work-out. At Level 6, the range of facilities include
• Fully-equipped dining pavilions and spa villas
• A 50m lap-pool
• Hydrotherapy pools
• Sofa Jacuzzi
• Aqua chairs
• Gymnasium

The Sky Villa at Level 34 offers more recreational options. You can enjoy a dip in the pool as you take in the spectacular garden and city views.

In addition, there is a tennis court, a basketball half-court, fitness and children’s play areas on the ground level. The 2nd – 5th levels in the Tower are dedicated to carparks, but strangely enough, only 276 carpark lots are provided for residents of the 329 apartments. We were told that apartment units that do not want a carpark lot will get a $100 deduction from their monthly maintenance fee.

There are several unit types and layouts available at CENTRO RESIDENCES
• 2-Bedrooms (124 units): 743 – 893sqft
• 3-Bedrooms compact (136 units): 904 – 1001sqft
• 3-Bedrooms (36 units): 1206sqft
• 4-Bedrooms compact (28 units): 1281sqft
• 4-Bedrooms Penthouse (5 units): 1712 – 2357sqft

There are 2 showflats in the sales gallery. The first is a 1206sqft, 3-Bedrooms unit. It comes with 2.9m high ceiling, 60x30cm marble-slab flooring for the living/dining area, and a rectangular balcony that is almost 100sqft. The common bathroom has homogenous-tiles flooring and “Ideal Standard/Remer” bathroom fittings.

The wet & dry kitchens form an L-shape with each other, with a sliding glass door separating the two. Kitchen cabinets have anti-slam drawers, and kitchen appliances that come with the unit include “Teka” oven/hood/hob and “Bosch” fridge & washer/dryer. The wet kitchen area is so small that it will be quite a challenge for two people to work comfortably inside. The small yard has a tiny built-in sink – barely enough space for you to do laundry. There is also a small L-shaped utility/maid’s room that can probably accommodate a small custom-made bed but nothing much else.

The master bedroom does not look small, but it will probably be a bad idea to put in a king-sized bed. It comes with an open concept wardrobe, and you can choose to have the partition wall for the master bathroom either in glass or concrete. The master bathroom has marble floors/walls, “Ideal Standard/New Form” bathroom fittings, and a tub with rain-shower. The 2 common bedrooms are square-shaped, and a little on the small side.

The other showflat is what they called the “3-Bedrooms compact” unit. The unit is 904sqft, and comes with the same floors/walls furnishings and kitchen/bathroom fittings as the 3-Bedrooms unit. However, the balcony is L-shaped, and the usual small L-shaped kitchen applies. There is no utility/maid’s room & toilet and not much of a yard area to speak of, so you can probably forget about installing overhead laundry rack.

The master bedroom is surprisingly quite decent sized, and you have the option of sunken bath or tub with overhead rain-shower in the master bathroom. The “normal” common bedroom is square-shaped and probably can ft a queen-sized bed if you utilize the bay window as part of your bed frame, while the other “compact” common bedroom is at almost 2/3 the size – this is probably more suited as a study or playroom.

What we like:
• Location – at least this is what most buyers of CENTRO RESIDENCES were sold on, and is also the biggest selling point of the project. Being centrally located within the Town Centre next to the AMK Hub, you get over 200 outlets of shopping and dining pleasures and other amenities almost right at your doorsteps. The bus interchange integrated into the shopping centre provides good transport connections around Singapore, while the MRT station opposite is a mere five stops away from Orchard (or so we were told, since the wife and I do not take the MRT much).

• If you have kids going into primary 1 in 2014-2015, you may be reassured by the fact that there are at least 2 primary schools that are situated within 1-km of CENTRO RESIDENCES – Jin Shan Primary and Mayflower Primary.

What we dislike:
• Location – I know this may sound like a contradiction, but we actually think that being located right in the middle of the Town Centre and next door to a shopping mall/bus interchange/MRT is more a bane than boon. The constant flow of human traffic around you and the noise they generate is not something that we like to go home to.

• The actual site of CENTRO RESIDENCES is a rather small plot of land that is stuck between the AMK Hub on one side, some HDB point-block on the other, Ang Mo Kio Ave 8 with the MRT station in front, and more HDB blocks at the back. I do not know about you, but just thinking about it makes us feel a tad claustrophobic.

• The units in CENTRO RESIDENCES form a triangular shape around the tower, with an open central atrium located within (refer to stack-layout picture for better visuals). All the kitchens/yards face inwards towards the central atrium. So you are likely to get a rather dark kitchen irrespective of the time of the day, while depending on the hot air from your air-con compressors to air-dry your clothes rather than natural breeze.

• Although there is no showflat for the 4-Bedrooms compact unit, we understand from the floor-plan that there is only 1 common toilet in the living room to be shared among the 3 common bedrooms. This is definitely less than ideal.

• The wife and I do not fancy “Mickey Mouse” units, as they violate our human rights for individual spaces. It is inevitable given the space constraints we face in Singapore and the high property prices, more and more housing units are being built using the “Hong Kong” model. Speaking from personal experience, we have previously stayed in a 1250sqft “2+Study” unit for a couple of months. I got a rude awakening every morning from the noise that my 5yo son generated in the living room, and he woke up like at 6am everyday! So we really cannot imagine ourselves living in a 1208sqft 3-bedder, or worse, an 885sqft 2-bedder unit.

• The CTE, which is the main expressway that residents with cars at CENTRAL RESIDENCES will take for access into the City/CBD area. The wife and I are always very perplexed by the traffic condition at CTE. With the AYE/PIE, one can almost anticipate the “heavy traffic” times during the day. But the CTE can be jammed up at any time of the day, even on weekends. So this makes the journey less “predictable”.

• And finally, the price. At $1,250psf or more, we see little upside for a suburban 99-years leasehold project. This is irrespective of its supposedly convenient location within an established and rejuvenated estate. Not when the other full-facility condo project, “Grandeur 8”, located less than 700m down the same road, is currently selling at a price of around $800psf. One can always argue that the later is an older project, and provides different set of lifestyle living compared to CENTRO RESIDENCES. But the price gap is way too huge for potential buyers weighing the 2 options to disregard.

A total of 156 units are released for sale as of yesterday. These comprise apartments from the 7th to 19th floors. Out of which, 103 units have been taken up – these are primarily the smaller 2-bedrooms and 3-bedrooms compact units. We were told that buyers were mainly HDB upgraders currently living in the Ang Mo Kio/Bishan/Yio Chu Kang area and investors seeking rentals. We were told that there may be a good demand for rental at CENTRAL RESIDENCES due to its relatively good proximity and accessibility to the City/CBD area. In addition, rental demand may be boosted by the Australian and French schools located nearby. But the wife and I are a bit sceptical about the later, as Caucasian families with school going children will probably not opt for small apartments like those found in CENTRO RESIDENCES.

For those who are interested, a 904sqft 3-Bedrooms compact unit on the 17th floor (stack 4) will cost you $1.16 million after discount. This translates to about $1283psf. The monthly maintenance is a low $30/share, so expect to pay only $210/month for the 3-bedder (7 shares) or an even lower $110/month is you opt not to have a carpark lot.

After our visit, the wife and I still arrived at the same conclusion… “Siow”! We expect a lot of price resistance to the exorbitant $1200-1300psf price level that Far East is currently asking for CENTRO RESIDENCES after the initial buying euphoria. And this may already be showing – it looked like only 10 additional units were sold after the first preview.

View location/site plans and unit layouts here:
http://s942.photobucket.com/albums/ad265/proptalk/Centro/

JARDIN – Latest Marketing Promotion

The wife received an email on above today.

Thought we share it with those of you who may be interested in the project. Please note the freebie is supposedly given to the next THREE buyers only.

Jardin – Latest Marketing Promotion http://d1.scribdassets.com/ScribdViewer.swf?document_id=25265346&access_key=key-29ca5ab84ti7xzup089e&page=1&version=1&viewMode=list

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JARDIN (Review)

District: 21
Location: Bukit Timah
Address: 966 Dunearn Road
Developer: Far East Organization
Tenure: Freehold


Tranquillity Awaits –

My garden home in the sky, a lush stroke of green across the blue.

Drudgery of the day behind me, hubbub of the city hushed.

A sweet respite, my senses awake.

No, the wife and I are no closet poets. But those who are can certainly take a leaf off JARDIN’S marketing brochure.


JARDIN is another of them “older” new development that the wife and I decided to take a chance on today. First launched in July-2007, JARDIN sits on a long and somewhat narrow plot of land of about 90,000sqft, and consists of one 10-storey block with 140 units. The expected TOP for this project is 2013.


The main entrance into JARDIN is along Dunearn Road, right next to the Dunearn/Clementi Road intersection. The sales gallery is located at the actual site itself.


The unique selling point of JARDIN is that the project is made up of largely loft units – 90 of the 140 apartment are Lofts. And while most other condo developments (e.g. Cyan) only have 1 or 2-bedroom lofts, JARDIN offers much bigger loft units with 3+1 and even 4+1 bedrooms.


The other unique feature of JARDIN is the French-themed garden terraces at alternate levels along the Loft corridors. These gardens extend from the loft units, merging living spaces with nature. An ideal spot for quiet reflections and parties, these gardens at the doorsteps offer the prefect combination of garden-living in high-rise environment.


The facilities in JARDIN centre within the ‘pavilion-style’ roof-top club – The Garden of Pleasures – which offers recreational facilities such as an infinity pool, aqua gym, reading pavilion, alfresco café, function pavilion and the elemental spa. However, tennis enthusiasts will be disappointed to know that there is no tennis court in this project. And for those who seeks a pool-facing view, you will have to be contented with the view of the swimming pools at “Gardenvista” (the condo next door) that JARDIN overlooks. We understand that there will only be 145 carpark lots available in 2 basement levels, so parking is likely to be a contentious issue in future estate AGMs.


There are quite a number of unit types available at JARDIN, depending on whether you are looking for single- level apartment or Loft


• 2-Bedrooms Apt: 958sqft & 1098sqft*
• 2+1 Bedrooms Apt: 1087sqft & 1098sqft, 1249sqft* & 1259sqft*
• 3-Bedrooms Apt: 1206sqft & 1292sqft*
• 1-Bedroom Loft: 958sqft & 990sqft*
• 2-Bedrooms Loft: 1012sqft & 1130sqft*
• 2+1 Bedrooms Loft: 1098 – 1163sqft & 1216* – 1249sqft*
• 3+1 Bedrooms Loft: 1690 – 1722sqft & 1776* – 1787sqft*
• 4+1 Bedrooms Loft: 1776 – 1787sqft & 1851* – 1862sqft*
 * denotes ground-floor unit type


There are 2 showflats within the sales gallery. The first is a 1851sqft, 4+1 bedrooms, ground-floor loft unit. It comes with a private lift that opens directly to your living/dining room in the lower level. The living/dining room has 60cm X 60cm marble-slabs flooring, and the general ceiling height for the lower level is 3.45m. However, one section of the living room underneath the void area actually has the fully extended height of 6.6m. You also find one of the three common bedrooms in this level, next to the home shelter/maid’s room. There is only one bathroom/toilet in the lower level for sharing between your guests, the maid and occupant of the bedroom. The yard cum launderette is lodged between the bedroom and kitchen, and is accessible via a door within the bedroom or from the kitchen. At the yard, a back door will provide you access to the garden terrace outside. The dry and wet kitchens are arranged in a row next to each other, and come with full length kitchen cabinets. The developer is surprisingly stingy with kitchen appliances, with only “Kuppersbusch” hood/hob & oven provided for the unit.


A staircase in the living/dining area (next to the private lift doors) leads you to the upper level, with an in-built storage provided on the mid-level stairs landing. You have the option of a marbled staircase with stainless steel railings, i.e. an extension from the marble flooring in the living/dining room, or the conventional wooden staircase with matching stairs railings. As you come up the stairs, the master bedroom and study are on opposite side to the two other common bedrooms. One of the common bedrooms is squarish and decent sized, while the other is L-shaped. Both bedrooms share a single bathroom/toilet located in between the rooms.


Both the master bedroom and bathroom are good sized. A set of L-shaped windows in the master bedroom allow you to overlook part of the living room below, as well as view of the pool area of “Gardenvista” located directly opposite the unit. The master bathroom has a sunken bath with rain-shower, and you can choose to have the partition walls between the master bedroom and bathroom either in concrete or glass. You can also choose to convert the study next door to a walk-in closet.


The other showflat is a 1098sqft, 2-bedrooms ground-floor apartment. There is no private lift access for the apartment stacks – the main door opens into the rectangular shaped living/dining room. You get 60cm X 30cm marble-slabs flooring, and the ceiling height is about 3.3m. The kitchen is also rectangular in shape, with the home shelter/maid’s room located within the kitchen itself. There is a small L-shaped yard behind the kitchen, but no toilet/bath. The bedrooms and common toilet/bath are tucked to one side of the apartment. The common bedroom is (you guessed it) rectangular shaped, while the master bedroom across is squarish and has a small walk-in closet that leads to the master bathroom.


What we like:
• The larger loft units, i.e. the 3+1 and 4+1 bedders. JARDIN is the only development we have seen so far that offers units of such sizes.


• All the living areas within the 2-bedrooms apartment are very regular with no odd corners. The showflat actually felt surprisingly spacious for an apartment with a “built-in” area of only 960sqft, since the other 150sqft is taken up by the PES.


• JARDIN is quite centrally located – there are numerous restaurants sprawled across the area and nearby shopping malls, such as Bukit Timah Plaza and King Albert Park, provide a range of amenities including supermarkets and retail shops. It only takes about 15 – 20 minutes by car to get to the CBD or Orchard Road shopping district, via AYE and Dunearn Road respectively. The upcoming Blackmore MRT station is located almost right across the road from JARDIN.


What we dislike:
• The common toilet on the lower level of the 4+1 Loft is located in the centre of the unit. Such layout, in “Feng Shui” speak, will result in all your wealth being flushed away. The wife and I are also no fans of fully enclosed toilet without natural ventilation.


• The position of the home shelter, which usually serves as the maid’s room, in the living/dining room area of the 4+1 Loft is not exactly ideal. The domestic helper will have to access the yard area through the bedroom on the lower level, or take a roundabout route across the kitchen. It also gives her far less privacy than the traditional “home shelter in the yard area” layout. One option is to use the bedroom in the lower level as the maid’s room, which we suspect is something many buyers with domestic helper may end up doing.


• There is insufficient bathroom at the lower Loft level. We will much prefer an additional toilet/bath in the yard area for the domestic helper.


• Although JARDIN is built with a 44-metres ingress from the main road, this may not necessarily be sufficient insulation from traffic noises along Dunearn Road and the busy intersection that the development is situated next to. So you will either have to bear the brunt of the noise pollution, or have your windows permanently shut.


• There is not much ground within JARDIN, given the long and narrow strip of land it resides on. And the wife and I are not particularly thrilled about having to depend on your neighbour’s pool and grounds for a view, no matter how much the marketing brochure tries to convince us that this is actually a Japanese gardening technique of Shakkei (borrowed scenery), which supposedly extends the garden experience of JARDIN beyond its development.


• For parents that have kids enrolling into primary school in the next couple of years, we can only identify one school that is within 1-km of JARDIN – Methodist Girls’ Primary School.


In summary, the wife and I have concluded that JARDIN is not really for us – assuming we have the money to buy it that is – as the cons far outweigh the pros. And in our case, there is really only one “pro” – we love the Loft unit!


For those of you who are interested in JARDIN, please note that only the apartment units are currently released for sale. Far East has suspended marketing of the Loft units after the initial launch – these were units on the first and third storey, of which 60% were sold. The reason for the suspension, as we understand it, is due to public resistance to the price. The 3+1 and 4+1 Lofts were supposedly transacted at $1900-$2,000psf previously, before sales were put on hold. But the marketing agent that was attending to us did say that she is willing to seek developer’s approval if we are really interested in the Loft units on the first or third floor, and are willing to pay at least $1800psf for the 3+1 Loft or $1900psf for the 4+1 Loft.


And as for the apartments, only units from 1st – 4th floors are launched, and the take up rate has supposedly hit 70%. The selling price for apartments is also lower – from $1500psf up.


View Site and Floor Plans here:  
http://s942.photobucket.com/albums/ad265/proptalk/Jardin/

FLORIDIAN (Review)

District: 21
Location: Bukit Timah
Address: 956 Bukit Timah Road
Developer: Far East Organization
Tenure: Freehold

The wife and I decided to revisit FLORIDIAN this morning. This is another one of those that we classify under “older” new development, as it was first launched in mid-2007. FLORIDIAN is located off Bukit Timah Road – if you are driving up from town, you will have to turn left into the side road immediately after “The Nexus” (another condo). The sales gallery/showflat is at the actual site itself.

The land that FLORIDIAN sits on is about 230,000sqft. There are a total of 336 apartment units spread over 11 towers of 10-storey each. The TOP was originally expected in 2013, but construction works have been way ahead of schedule thus far, so the TOP is now moved foreward to end-2011 or early-2012.

The name FLORIDIAN was derived from the Miami-inspired resort lifestyle that the development will provide for its residents – “Where lavish landscapes and enclaves of themed indulgences are set around gorgeous cascading pools. Where the days are pampering and the nights are fascinating. Where beautiful people sizzle, and the trendy mingle”. So goes the marketing literature…

The facilities within FLORIDIAN revolve around the three cascading pools that run the length of Floridian’s landscape, providing a sense of Miami styled waterfront living. Built along these waters are five differently themed enclaves, each eliciting a unique ambience of indulgence:
• Downtown – Head to the rooftop for a game of tennis (2 courts) or take a dip in the lap pool with hydrotherapy facilities.

• The Keys – The Keys is perfect for poolside dinner parties, and chilling out under the stars thereafter.

• The Verandah – Occupying the highest point on the Floridian terrain, The Verandah offers spectacular views of the central waterscape, either from the tropical garden on the rooftop, or under the canopy of swaying palms on the ground level.

• Hideaway – Where you will find beautiful cascading pools, alongside spa seats under the shade of swaying palms.

• South beach – Themed-park inspired entertainment for children, while parents can indulge at the pool alcoves with jet massages, outdoor hot tubs and alfresco dining facilities.

For parking, there will be a total of 360 underground carpark lots available in the development.

There are several unit types that are available at FLORIDIAN

• 2-Bedrooms: 840 – 947sqft
• 3-Bedrooms: 1281 – 1432sqft
• 4-Bedrooms: 1830 – 2347sqft

This is where things get a bit murky – there are also “2+Study (2S)” and “3+Study (3S)” units within the development. The floor area info for these are not stated anywhere in the marketing literature or public domain, but we understand from the marketing agent that the size of a 3S unit is around 1658sqft. However, we have forgotten to ask about the size of the 2S units (paisei!).

We understand that all units in Towers 1 & 2 were sold out during the first phase. Units for sales in the current phase are apartments in Towers 4, 6, 7, 9 & 10. Most towers have only 2 apartments per floor, which allows for added privacy. As of today, the number of units sold at each tower is

• Tower 4 (3S): 16 out of 18 units
• Tower 6 (3S): 10 out of 20 units
• Tower 9 (4-Bedrooms): 1 out of 20 units
• Tower 7 (3S): Just released, so sales numbers not disclosed yet.
• Tower 10 (2 & 4-Bedrooms): Just released all 2-Bedrooms, so sales numbers not disclosed yet as well.

Towers 5 & 8 have also just been released, and these are supposedly the best facing – the front of each unit has full pool view, while the back has unblocked view of the good-class bungalow precinct along Old Holland Road. However, there is currently a pricing issue with these two towers. Apparently, Far East sold two 3S units in these towers during the first launch, reportedly at $1712 & $1750psf respectively. Now that similar units at the other towers are asking for much lower psf prices, there is some dilemma about what price to launch these towers at, given the need to protect the original buyers’ interests.

Towers 3 and 11, which are considered by the developer as the “premium blocks”, are unreleased yet.

The only showflat available is a 1658sqft, 3S unit. You get a private lift that opens to your private foyer, and a common lift that is accessible from the main door. The living/dinning room is a 6m X 6m square, with 60cm X 60cm marble-slab flooring and ducted air-con. The trapezoid-sized balcony is almost 100sqft, but the odd shaped design greatly reduced its functionality. You also get both wet and dry kitchens that come with “Teka” brand oven, hood & Hob. The wet kitchen is located in the yard area, together with the home shelter/maid’s room and toilet.

The common bathroom comes with ceramic tiles flooring, “Newform” bathroom fittings and top-hung cabinet. Quality of the fittings especially the cabinet is average. The master bedroom is of decent size, while there is an option to convert the study next door to a walk-in wardrobe. The master bath has marble flooring/walls, separate shower stall & bath tub, and top-hung cabinet. Quality of the fittings is again average. The two common bedrooms are tucked inwards next to the study.

Although there is no showflat for the 4-bedroom unit, we actually prefer the layout we saw of the scale model. The 4-bedder has a square balcony (more functional), and proper wet & dry kitchens that do not intrude into the yard space. The 4-bedroom units also supposedly come with better quality furnishings, and larger marble-slabs (90cm X 90cm) for the living/dining room floors. But we can only take the marketing agent’s words on these.

What we like:

• The living spaces are very functional – all rooms (except for some of the balconies) are regular with no odd shaped corners.

• The access road that leads to FLORIDIAN runs about 100m from the main Bukit Timah Road. Thus the development will not bear the full brunt of traffic noise coming from the constantly heavy traffic flow along Bukit Timah Road, unlike some of the other condominium projects located along the main road.

• FLORIDIAN is located very near to amenities at Bukit Timah Plaza and King Albert Park. It is also about a 15- 20 minutes drive to the City Centre/CBD. The future King Albert Park MRT station is supposedly 0.8km, or a 5 – minutes walk, away.

What we dislike:

• FLORIDIAN is surrounded by “Nexus” and “Maplewood” in front, and “Cascadale” on its right. Given that all these condominium projects are built to the maximum height allowance of 10-Storey (due to height restrictions imposed on apartments along Bukit Timah Road), some of the lower-floor apartment owners may feel a tad claustrophobic.

• There is a small “design flaw” with the 3S showflat we saw today – the common bathroom is located in the living/dining room itself, while the 2 common bedrooms are tucked inwards next to the master bedroom & study. So occupants of the common bedrooms have to run out to the living room to use the bath/toilet, which is quite a distance especially when you have a bursting bladder.

• The only primary school that is within 1-km of FLORIDIAN is Methodist Girls’ School – not good news for those parents with boys.

• And most importantly – the price. The average cost of the 3S unit is around $1450psf, while the price of the 4-bedders averages around $1630psf. We felt this is rather high even for a FREEHOLD project despite the “Bukit Timah Road” address, and especially when we were hardly impressed by the quality of furnishings.

In summary, FLORIDIAN will not be in our “shopping list” if we are looking for a new apartment in the Bukit Timah area. The Miami themed project with its unique enclaves may appeal to some, but we really do not think it represents good value for money. Even for investment (rental) purposes, the yield is likely to be reduced given the higher capital outlay. This is especially when you have to compete for tenants with the numerous new and old condominium projects within close proximity of FLORIDIAN.

View location and site plans here: http://s942.photobucket.com/albums/ad265/proptalk/

Developers’ New Selling Strategy: 103-year lease on freehold land

It was reported in The Straits Time today that Far East Organization will sell “THE SHORE RESIDENCES” – its new project in Katong – with a 103-year lease despite the land being freehold.

The wife and I have actually heard about this from a marketing agent at the sales gallery of ADRIA earlier this month. Both of us concluded then that it is a clever strategy on the developer’s part, especially when the current price spread between lease and freehold projects in some area has narrowed substantially.

By settling for slightly lower prices for the units, the developer retains an interest in the site and may reap further rewards when the neighbourhood is further transformed. And should the owners of the development wish to do a collective sale in the future if the property market is good, they will have to negotiate with the holder of the freehold title – the developer in this case, instead of the Government. The developer can then have the options of either granting a lease top-up, buy back the land, sell the freehold tenure, or simply do nothing. The strategy is especially important for privately owned developers, as the move allow future generations to benefit by retaining the freehold title of the site.

Besides “THE SHORE RESIDENCES”, Far East has also launched two cluster housing projects with 103-year leases on freehold land previously – “CABANA” in Sunrise Terrace/Yio Chu Kang and “THE GREENWOOD” in Greenwood Ave/Bt Timah.

Although selling a lease term instead of the entire tenure is still relatively rare, we beleive that more property developers may jump on the bandwagon especially if the psf selling price between lease and freehold developments continues to narrow in the future.

The 408-units “THE SHORE RESIDENCES” is located at the former Roase Garden site, which is opposite Katong Shopping Centre. It was reported that Far East bought the site in 2006 for $169.8 million, or $423psf of potential gross floor area. Preview sales over the past 2 weeks have already seen units being snapped up at $1,100 – $1,180psf. The project will be launched this Friday, so watch this space!

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