Watertown: 3-Bedroom SOHO (Photo Review)

This SOHO units at Watertown come in both 2- and 3-bedroom variants. However, the wife and I prefer the later, which is about 807sqft.

Below are photos that we took of the showflat.

The living/dining/kitchen area is surprisingly spacious for an unit of about 800sqft.

We love the functional design of the Study. However, it will be a tad difficult to reach the top-most shelves without support, given the 3.4-metre high ceiling!

The bathroom and WC come in separate cubicles, which we like. However, the transparent glass partition-wall between/around the two cubicles should probably be frosted so that two people (who may not wish to look at each other bathing and peeing respectively) can utilize the facilities privately.

The “common bedroom” is elevated by a raised platform, which means you can have a separate office area below the bedroom. However, those more than 1.7m tall should probably take care when climbing into bed.

The master bedroom is surprisingly spacious and can easily fit a King-sized bed. 

The master bathroom has a rather simplistic design but is rather pleasing to the eyes. All the floors/walls are marble.

Overall speaking, the 3-bedder SOHO looked way more spacious than its size seemed to suggest. Maybe the high ceiling has something to do with this, but we reckon it is also due to the compact design that maximizes space.

Price wise, the list price for this unit type (applicable during our visit last week) was about $1,299,560 ($1,610psf). After all applicable discounts, the nett price was $1,067,703 or $1,323psf.

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Watertown (Review) – Part 2

The Sky Patio in Watertown comes in both 3- and 4-bedroom variants. The showflat features the 1,173sqft, 3-bedder unit (Type C1b).

As you walk through the main door, you arrive into the living/dining area. We like the fact that unlike most 3-bedders that we have seen recently, there is no long walkway (aka “dead” space). The living/dining area is rectangular shaped and seems rather spacious for an unit of less than 1,200sqft, even with decent-sized furnitures. It comes with 60cm x 30cm marble-slab floors (a pleasant surprise compared to the homogenous tile that is the norm these days) and 3-metre ceiling!

The kitchen is self-contained and very good-sized. The developers have gotten it right by dispensing with a “dry kitchen” area, as the apartment can ill-afford the space. And as per many of the recent Far East “involved” projects, the developers have thrown in a whole host of kitchen appliances other than the usual hob/hood/oven/fridge. You also get a microwave, wine fridge and even a dish-drying rack that’s mounted above the sink!

The utility room is in the yard area behind the kitchen. It is decent enough size but we suspect you will need to customize the bed for your domestic helper.

The yard space is longish and very functional. And unlike many of the showflats that we have seen recently, you do not have to worry about where to dry your clothes. A mechanical clothes-dryer is provided, while a huge window provdes ample natural ventilation and light into the yard area. And to top it all off, there is even an extra sink in the yard for your “hand-wash” items… nice!

The common bathroom is good-sized and you get marble floors/walls (we had to double-checked on this with the marketing agent, as the “marble” slabs sounded rather hallow when we knocked on it). And also “rain shower” in the shower stall – a luxury not commonly found in many other projects nowadays!

The common bedroom is surprisingly good-sized, especially considering the size of the unit. It can probably accommodate a single bed and a small writing desk, if you place the bed against the window. This is more than you can ask of bedrooms in many other projects that we have recently seen, whereby you have hardly any walking space left after putting in the bed. However, the wife will tell you that it is quite bad “Feng Shui” to position the bed as per the showflat (see photo). This is because your bed “cuts” the door, which will create bad “chi” within the room resulting in unrestful sleep.

The master bedroom is again rather spacious, even with a King-sized bed. It comes with nice timber-strip floors (common for all bedrooms) and standard two-panel wardrobes. The wife and I are not really for glass “doors” – although it makes the bedroom looks bigger and also functions as a mirror, you need to get rid of all the “finger prints” diligently else the glass panels will always look “dirty”.

The master bathroom is again decent-sized and the “dark constrast with light” color scheme for the marble floors and walls is quite aesthetically pleasing. It comes wth a long bath AND an adjacent shower stall, a feature that is normally reserved for 4-bedroom apartments.

Now for the “exciting” bit – Price: The wife and I were told that the Sky Patio apartments are considered “premium” units and as such, they also come with premium prices.

The list price for a 1,173sqft, 3-bedder on the 5th floor is $1,940,200 ($1,654psf)! But as of earlier this week, developers are giving away discounts in the following form:
     Basic Discount – 10%
     Special Discount – 4%
     Stamp Duty Offset – 3% (cash rebate, even if you actually uses CPF to pay for this)
     Furniture Vouchers – 2% (cash rate, payable only upon TOP of project)
So after all applicable discounts, the nett price for the unit comes to $1,591,436 or $1,356psf.

What we like:
• Convenience – No argument here, given the huge shopping mall beneath your block, integrated access to Punggol MRT/LRT stations and the added appeal of waterfront living along the Punggol Waterway. Watertown is practically self-contained as all the amenities that you need (including going to the movies) are available at your doorstep. So there is really little need to go down to Orchard to shop/eat or catch a movie, unless you really want a change of surrounding.

• Layout and Design – The wife and I have not seen a better layout and design for a 3-bedroom apartment for quite some time. Matter of fact, we cannot recall another 3-bedder showflat that we liked more than the one we saw at WaterTown. The apartment layout is very well thought-out, while all the different living areas (balcony and yard included) are designed so as to maximize space and practicality.

• Quality Finishing – The developers certainly pulled out all stops in this department – from the marble floors and walls right down to “extravagant” like the wine fridge, dish-drying rack, laundry system and “rain showers” (for both bathrooms, no less!).

• High Ceiling – The 3-metre high ceiling gives the apartment alot more “volume”, which probably explains why the 1,175sqft 3-bedder felt so much bigger than its actual size. You also will have no problem installing that ceiling fan or chandelier, even with false ceiling!

What we dislike:
• Location – No matter how you try to justify it, Punggol is… to most of us not living in the Punggol/Sengkang area… FAR (although one will say that this is subjective). Despite the convenience of MRT and supposed good connections to the various expressways, it is still a fairly long way to get from Punggol to the city and other parts of Singapore. So those living in WaterTown may really have to revolve their lives around the development and facilities nearby… out of consolation rather than desire.

• Exclusiveness – Call us paranoids if you must but the wife and I do question about the “exclusivity” factor in mixed-developments. We do understand that there are segregated entry/exit points for residents and the general public visiting the mall. We also believe that the condo management will deploy enough security guards to ensure that the condo grounds are well patrolled. However, there is always this nagging feeling that with mix-developments, one will find more cases of “non residents” wandering around or even using the condo facilities without permission.

• Traffic – The Watertown Mall is supposedly located at the town centre and is slated to be the largest (if not only) mall in Punggol. Looking at the many public housing surrounding Watertown and with more BTO flats, ECs (Prive, Twin Waterfalls) and private condos (A Treasure Trove) being built around the area, we suspect traffic along Punggol Walk and Punggol Central is going to increase many folds over the next few years (even on weekends), which may be a bane for Watertown residents who drive.

• PRICE – It is a Far East project, albeit a joint-venture, so the wife and I were prepared to be “wowed” by the price. However, we still went away amazed. When we “complained” to the marketing agent that prices for Far East projects are “famous” for being the highest in the market, he was quick to point out that Watertown is not totally a Far East project as it is developed by three parties. We told him that if Watertown is “exclusively” Far East, the selling price will probably be $1,900psf!

Our parting shot:   The wife and I believe that Watertown is a quality project, both in terms of its apartment designs and furnishings. In fact, it is possibly one of the better (if not best) project that we have seen for some time. However, we cannot come to terms with paying more than $1,300psf for a 99-year leasehold project in Punggol, despite all the good things that we have seen and the convenience associated with an integrated mixed-development. But the strange thing is, units are still flying off the shelves like hot-cakes despite the exorbitant price. So are we the only fools to think that Watertown is #@$! expensive? Only time will tell. But in the meantime, the wife and I are pretty certain about two things:

• We probably can find a $1,300psf, 3-bedder alternative (ok, maybe not brand new) that’s of similar size, full facility, located fairly near to shopping malls/MRT station and much nearer to town.

• Owners of nearby public flats and private condos (including A Treasure Trove, which was sold at less than $900psf during its launch) are rubbing their hands with glee waiting for the completion of Watertown, as they can almost see the resale prices of their apartments soaring. Huat ah!
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Seastrand (Review)

Project Name:   Seastrand
Tenure:   99-year leasehold w.e.f 3rd Jan 2011
Location:   Pasir Ris Link
District:   18
Site Area:   215,281sqft
TOP (estimated):   31st Dec 2016
Total Units:   473 apartments + 2 commercial shop units
No. of Blocks/Storey:   10 (7 Block of 11-Storey and 3 Blocks of 12-Storey)
Car Park Lots:   473
Developer:   Far East Organization/Fraser Centrepoint Homes

The wife and I visited the sales gallery of Seastrand over the weekend. This is the latest project jointly developed by Far East/Fraser Centrepoint located in Pasir Ris. The two developers are also responsible for the “Waterfront Collections” along Bedok Reservoir Road.

Seastrand is located on a huge plot of land of about 215,000sqft at the intersection between Pasir Ris Drive 3 and Pasir Ris Drive 4. The main entrance, however, will be on Pasir Ris Link – this is a new road that will be built specially for the project.

The 99-year leasehold project has a total of 473 apartments spread across 10 blocks. It offers a mix of 1 – 4 Bedroom unit types:
• 1-Bedroom (159 units):   581 – 663sqft
• 2-Bedroom (113 units):   914/1001sqft
• 3-Bedroom Compact (98 units):   1133 – 1241sqft
• 3-Bedroom (83 units):   1195 – 1300sqft
• 4-Bedroom Compact (20 units):   1321sqft

A unique feature of Seastrand is that there are no penthouses, while the 4-bedder compacts are effectively 3+Study units.

Facility wise, Seastrand offers everything that one will come to expect from a full-facility condo (tennis court inclusive) and then some. The facilities are spread over the ground level as well as on the 3rd floor, i.e. the rooftop of the multi-storey carpark that wraps around the project. Of particular note are the Water and Strand Villas alongside the Strand Pool – these are outdoor function areas that come with their own Jacuzzis.

Parking lots are available within the 3 levels (basement, 1st and 2nd) of multi-storey parking, which forms an u-shape around Towers A – H. This allows residents to access their vehicles directly from their blocks, which is especially helpful during rainy days. The only exception is Tower J, which is not connected to the multi-storey carpark. Residents here will probably have to make do with “open air” surface parking that is located below their block.

There are three showflats in the sales gallery, showcasing the 1-, 2- and 3-bedroom units. We shall focus on the 1195sqft, 3-bedroom apartment (Type C1b).

However, do note that the floor plan below is NOT that of Type C1b – we were unable to obtain the floor plan for this unit type during our visit. We have included the floor plan for Type Cc1b instead, which is actually the 3-Bedroom Compact with the same layout as Type C1b. The only differences are that for Type Cc1b, Bedroom 3 is smaller and there is no bathroom in the yard area.

As you enter the main door, the dry/wet kitchen is on your left. A dining table that sits 6 (barely) is incorporated into the dry kitchen area, which is actually quite a good idea as it frees up space in the living area.

The wet kitchen (more like the typical kitchen to us, since the so-called “dry kitchen” is not exactly a kitchen per se) is L-shaped and comes with nice solid surfaced worktop, full set (top/bottom) of kitchen cabinets and even a dish drying rack. The developers have also thrown in Delizia hood/hob, Ariston Oven and Microwave and Samsung fridge for good measures.

The yard has barely enough space for laundry, but we quite like the idea of having a wash basin here – this will come in handy for items that need “hand washing”. The washing machine cum dryer (provided) is tucked nicely beneath the kitchen worktop, which frees up space in the yard. A large window provides ample natural lighting and ventilation to the yard area, which also houses the home shelter and a bathroom.

And speaking of home shelter, this is a small rectangular strip of an area, which means that you probably need to customize the bed if you intend to use this as the maid’s room. Another option is a “pull down” bed as illustrated in the showflat. The home shelter is fully enclosed so your maid will have to leave the door open to avoid suffocation while sleeping.

The living/dining area is rectangular shaped and of decent size (relative to the apartment size). It comes with 2.9m ceiling height (3.15m for ground floor units) and for flooring, you have a choice of “warm” theme (60cm x 30cm marble slabs in darker beige colour) or “cool” theme (60cm x 60cm porcelain tiles in lighter beige colour).

The balcony is also rectangular in shape and rather sizable (we reckon 100sqft). Some will probably like the idea of a huge balcony area but we felt it’s a tad… extravagant, considering that the whole apartment is not even 1,200sqft.

The two common bedrooms come with timber-strip floors and full-height (ground to ceiling) windows. The absence of bay windows is a definite plus. We were told that both the bedrooms are of similar size but Bedroom 3 somehow looked smaller than Bedroom 2.

The common bathroom is good size and actually has marble floors/walls, which is a pleasant surprise (considering the “norm” these days with ceramic tiles). It also comes with Newform (Italian) bathroom and Vera (origin unknown) toilet fittings.

The surprise package of the apartment must surely be the master bedroom. The room is huge – we were told that the bed inside the showflat is an “European King”, which is actually bigger than the typical King-sized bed. And yet the room still felt quite spacious even with the bigger bed. We also like the layout of the wardrobe in the master bedroom – you get a L-shaped wardrobe that separates the bedroom area from the attached bathroom, with a “walk-in wardrobe” feel.

The master bathroom is again quite spacious and almost an exact replica of the common bathroom in terms of look and feel. But it comes with a “sunken” bath and rain-shower. We were told that buyers can have the option of either solid or glass-partition walls for this bathroom.

Seastrand has started selling for about 2 months now and we understand that more than 50% of the units have been sold. Units in Towers C, E and G are fully sold and if you are looking at the 3-bedders, only 3 units (Tower B) are left amongst the units that have been launched. The good news is that there will be more 3-bedder (Tower J) and 3-bedroom compact (Towers D1 & D2) units launching soon, but supposedly at slightly higher psf. Then again, with the market circumstances as it is, it remains to be seen if the developers will actually increase prices for subsequent releases.

Price wise, the price for the remaining 3-bedders are about $990psf. The unit on the 4th floor of Tower B (#04-06) costs $1,413,260 after discount. In addition, developers are also giving away a further discount of 1% in furniture vouchers for selected “Star Buy” units. But the vouchers will only be given upon TOP of the project.

Monthly maintenance charges for the 3- and 4-bedders are about $320, which we feel is at the higher end of the scale for a supposed mass-market project.

What we like:
• The quality of furnishing and fittings are definitely more appealing compared to some of the other “mass market” condos that we have seen recently, and is more akin to those that we have come to expect with Far East projects.

• Seastrand is located fairly close to neighbourhood amenities (think minmarts, coffee shops etc) located within the HDB estate across the road, and yet it is not “surrounded” by HDB flats so to speak. It is also within walking distance to Downtown East, where you find a NTUC and all kinds of F&B outlets.

• For those who enjoy greeneries and the sea, Seastrand is about a 7- 10 minutes’ walk to Pasir Ris Park and the beach.

• Parents who need to put their kids into primary schools will be pleased to know that there are several to choose from that’s within 1-km of Seastrand – Casuarina Primary, Loyang Primary, Pasir Ris Primary and Coral Primary (maybe?).

What we dislike:
• Seastrand is supposedly 2 bus-stops (or 3-mins drive) from Pasir Ris MRT station and bus terminal at White Sands Mall. But should you decide to walk it, you may find that it is actually quite some distance away. Consolation is that for the first two years at least, there will be dedicated shuttle-buses from the condo to White Sands & Ikea/Carrefour.

• We reckon that the main road (Pasir Ris Drive 3) leading out to the ECP/PIE will be rather congested especially during the rush hours.

• The plot of land next to Seastrand was recently acquired by MCL Land and will be developed into another private condo project in due course. In addition, the plot of land directly across from Seastrand (where the sales gallery currently stands) is probably slated to be sold for private housing development as well. So depending on how soon building works of these future projects get underway, buyers of Seastrand may have to be prepared to live near a multiple construction sites for awhile.

Our Verdict: The wife and I have nothing really negative to say about Seastrand, except probably the location (too far, which is again subjective). You are certainly getting value for money in the “quality” department, as compared to, say, Woodshaven. It is definitely a project we will consider, should we decide to move to Pasir Ris.

Having say that, a quick check on recent transacted prices at nearby Eastvale – a 13-year-old EC built by CapitaLand that is now fully privatised – reveal that units of 1,100 – 1,200sqft were sold at less than $750psf. And the wife and I actually think that Eastvale is the better located of the two projects (and much nearer to the MRT too!).

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New Project Info: Boathouse Residences

Boathouse Residences is a new condo project in Hougang. It is located along the riverfront of Sungei Serangoon – the latest reservoir in Singapore.

The project is developed by EastHouse Properties, which is a JV between Frasers Centrepoint Homes, Far East Organization & Sekisui House.

Here are the project details:

Project Name:   Boathouse Residences
District:   19
Location:   Upper Serangoon View (see map)
Site Area:   140,000sqft
Land Tenure:   99-year wef 9th Feb 2011
No. of Units:   493
No. of Blocks/Storey:   6 Blocks of 15/18-Storey
No. of Parking Lots:   493
Estimated TOP:   4Q 2015

Unit Mix:   Boathouse Residences offer a mix of SOHO and apartment units

• SOHO – 1-Bedroom/1+Study (90 units):   635 & 715sqft
• SOHO – 2-Bedroom/2+Study (112 units):   750 & 940sqft
• 2-Bedroom/2+Study (52 units):   835 & 890sqft
• 3-Bedroom Compact (55 units):   990sqft
• 3-Bedroom Typical (122 units):   1,109sqft
• 3-Bedroom Dual-key (18 units):   1,249sqft
• 4-Bedroom (36 units):   1,432sqft

• Penthouses (8 units):   1,518 – 1,722sqft

The wife and I understand that preview will start end-July or Early-August (yes, during the Hungry Ghost Month!) and the preview price will average slightly below $1,000psf.
 

 
We will keep you posted once we have more information.
 
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Waterfront Isle: Review

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District:   16
Location:   Bedok Reservoir Road
Developers:   Far East Organization/ Frasers Centrepoint
Tenure:   99-year Leasehold
No. of Blocks:   4 (15-storey each)
No. of Units:   561
No. of Parking Lots:   580
Expected TOP:   2015

This review is specially for Veron, who has asked us about WATERFRONT ISLE yesterday.

WATERFRONT ISLE is the fourth and final project in the “Waterfront” series of condominiums co-developed by Far East and Frasers Centrepoint. The project was launched on the third day of Chinese New Year (5^th Feb) and have already seen strong take-up rate of around 70%.

WATERFRONT ISLE is situated along Bedok Reservoir Road, adjacent to Waterfront Gold and overlooking the Bedok Reservoir. The 99-year leasehold project resides on a plot of about 224,000sqft, and consists of 561 units in total housed in 4 main blocks (Block 730, 732, 736 & 738) of 15-storey each. Each block consists of 2 towers, each with its own lift lobby. The project is expected to TOP in 2015.

In terms of unit mix, WATERFRONT ISLE offers a range of 1- to 4-bedders, as well as penthouses. And with the 3-bedder units, you have a choice of either the 3-bedroom (Standard) or the 3-bedroom (Compact) – this essentially is a 2+Study unit. The typical sizes of each unit types are:

• 1-Bedroom (122 units): 581 – 850sqft
• 2-Bedroom (204 units): 893 – 1206sqft
• 3-Bedroom (188 units): 1152 – 1389sqft
• 4-Bedroom (43 units ): 1378 – 1442sqft
• Penthouses (4 units): 2482 – 2930sqft

1-Bedroom (Type A)                         4-Bedroom (Type D)

3-Bedroom (Type C)                                          2-Bedroom (Type B)

WATERFRONT ISLE, like its 3 other “Waterfront Collection” predecessors, is a full facility condo project. A large portion of its ground is dedicated to water and water-themed lifestyle offerings – various “themed” swimming pools, isle cabana, island pavilion with hot tub etc. Tennis enthusiasts will be happy to know that there are 2 “sunken” tennis courts in the project, which are essentially just your normal tennis court built slightly below the ground level – maybe to reduce chances of tennis balls flying across the fences (?!)

 
Two features that particularly caught our eyes are:
• Isle Villa – this is a modern looking piece of architecture that is built on stilts and located beside the main pool, which houses the 3 function rooms (2 air-conditioned and 1 outdoor).

• Sky Terrace – this traverses the rooftops of Block 370 and 372 (i.e. the two blocks facing Bedok Reservoir), and is accessible by two sets of dedicated lift between the 2 blocks. For those owners with lower-floor or inward-facing units, this is the perfect spot to enjoy the reservoir view and surrounding sights.

For those with cars, you be pleased to know that WATERFRONT ISLE is one of the few new projects these days that actually has more parking lots than units – a total of 580 lots are available in the two levels of basement carpark.

There are 2 showflat types on display at the sales gallery
• A 900+sqft 2-bedroom unit (Type B)
• A 1200+ 3-bedroom unit (Type C)

Upon entering the showflat for the 2-bedder unit, we were immediately hit by a sense of déjà vu. Of the 4 projects in the “Waterfront Collection”, WATERFRONT ISLE is probably the one with the strongest Far East signature in terms of looks and designs of the apartment units.

The living area is expectedly small, so it will be a challenge to try and fit both a regular sofa-set and dining table in here. You probably end up using the dry kitchen table-top for dining purposes. The living area comes with 60cm x 60cm compressed marble flooring and 3m high ceiling (2.85m if you plan to install false-ceiling).
 

The dry kitchen comes standard even for the 2-bedroom units. Only difference is that the dry kitchen in the 2-bedder is basically just a marble top, whereas those for the 3- and 4-bedders come with an additional sink for washing purpose.

The wet kitchen is a rectangular strip of an area, and comes equipped with the standard hod/hoob/oven and fridge. However, the coffee-maker, wine-fridge and washer/dryer that you see in the showflat are all “for display purposes” only. The kitchen cabinets come installed with Blum “anti-slam” drawers, while the black marble work-top looks really slick.

The 2-bedder unit comes with a small home shelter behind the kitchen area, but no yard or “maid’s” bathroom. The wife and I understand that some of the 3-bedder units do not come with a yard or “maid’s” bathroom either.

The common bedroom is…you guessed it… small, and the bay windows do not help. It comes with wood-strip floors and a tiny 2-panel “modular” wardrobe.

As if acknowledging the fact that the bedrooms are small, the developers have come up with options that may save you some space – but not for those with height anxiety though.

The common bathroom is decent in size, and we are pleasantly surprised to find marble flooring and walls (as opposed to homogenous-tile). You also have a choice of either a “light” or “dark” tone for the bathroom wall colors. Below is an example of the “light” color-tone option.

The master bedroom is not big on size either – a Queen bed, two small bedside tables and you probably have little space left for anything much else.

The master bathroom is huge in comparison to the rest of the living areas. And for the shower cubicle, you get to choose from one of the three options:

• Long bath-tub with surrounding glass partition walls
• Sunken bath with either glass or concrete partition walls
• Standing shower stall with either glass or concrete partition walls

Below is an example of the “dark” color-tone option for the bathroom walls.

Price wise, we understand that the current list price for units at WATERFRONT ISLE range from around $1200 – 1300psf. This is in comparison to the launch price of around $920psf back in February.

However, the list price is before developers’ discount, which comprises two components – a straight discount (10% upon booking) and a “furniture offset” (given at TOP).

For bookings made before 24th March, a 13% discount (i.e. 10% straight + 3% furniture offset) is given. For bookings after 24th and before 28th March, the discount is reduced to 12%. For booking after 28th March and before 2nd April, only 10% discount will be given (i.e. no furniture offset).

The wife and I have requested and received the folowing list-price for 4-bedroom units (1378sqft, Type D1) in Block 730 that face the reservoir:

• #11-03 (Tower A1) – $1,753,330 or $1,272psf
• #11-05 (Tower A2) – $1,787,270 or $1,297psf

As a comparison, below are the latest median transacted prices for units at the other “Waterfront Collection” projects:

• Waterfront Waves:   $812psf (Apr 2010)
• Waterfront Key:   $1052psf (Feb 2011)
• Waterfront Gold:   $968psf (Feb 2011)

On what we like and dislike about WATERFRONT ISLE, a lot of these are similar to what we have detailed in our reviews for Waterfront Gold. So rather than repeating ourselves (also to give you added incentives to check out our post for Waterfront Gold), we will highlight those that are particular to this project.

What we like:
• The furnishing in the showflats of WATERFRONT ISLE is the best that we have seen of the 4 projects in the “Waterfront Collection”, and more in-line with the type of quality that we expect from Far East. That is probably also the reason why the developers are marketing the project at a higher price point.

• The project is supposedly within walking distance to Bedok Town Park MRT station, which is part of the future downtown Line 3 (DTL 3), which is scheduled for completion in 2017. This may raise the rental prospects of the project once the MRT station commences operation.

What we dislike:
• Some of the towers in WATERFRONT ISLE looked to be too close to each other for our comfort. This is especially so with the inward-facing clusters of Tower A2, B1 and C1.

• The unit sizes (less than 1400sqft for a 4-bedder?) are too small for our liking. This translates to small living spaces, which we are most uncomfortable with.

In summary, the wife and I felt that WATERFRONT ISLE is probably the “Lexus” amongst the 4 projects within the “Waterfront Collection”, and is priced thay way too. It will probably be the one that we will go for, if we can get over the “size” hurdle or alternatively, find the couple of millions to buy one of the 4 penthouses.

Last but not least, we shall complete the review by giving you a birdseye view of what the whole “Waterfront Collection” will look like, site-wise – that’s ALOT of new apartments if you ask us.

WATERFRONT GOLD (Review)

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District: 16
Location: Bedok Reservoir Road
Developers: Far East Organization/ Frasers Centrepoint
Tenure: 99-year Leasehold (from 26th Nov 2009)

It has taken the wife and me quite awhile to get around to WATERFRONT GOLD, but we finally did so two Sundays ago. However, this review took a lot more time to produce due to business and leisure travels that we had to do over the past week.

WATERFRONT GOLD is third in the series of “Waterfront” condo co-developed by Far East and Frasers Centrepoint, after Waterfront Waves and Waterfront Key.

WATERFRONT GOLD is situated along Bedok Reservoir Road, across from Bedok Reservoir. This 99-year leasehold project resides on a plot of about 156,000sqft, and consists of 361 units in total housed in 5 main blocks of 15-storey each. It is expected to TOP in 2014.

The sales gallery/showflat is located exactly in the same spot where the former Waterfront Wave/Keys showflats were at. The actual site of WATERFROT GOLD is actually next door to the showflat – the wife and I understand that the showflat site is actually slated for another (i.e. Fourth) condo project, which will be solely developed by Far East this time.

WATERFRONT GOLD first previewed at the end of June and the project was launched in mid-July. About 40% of the units comprise of 1- and 2-bedders:
• 1-Bedroom (15 units):   581sqft
• 1+Study (56 units):   667sqft
• 2-Bedrom (73 units):   872 – 893sqft
• 3-Bedroom (168 units):   1012 – 1356sqft
• 4-Bedroom (44 units ):   1378 – 1464sqft
• 4 & 5-Bedroom Penthouses (5 units):   1927 – 3057sqft

WATERFRONT GOLD is a full facility condo project, so one can expect to find your usual dose of different “themed” swimming pools, gym, clubhouse, BBQ pits and water features. It also comes with 2 tennis courts, which is quite generous for a project with just 361 units.

However, the main feature of WATERFRONT GOLD must be the 95-metre high Sky Park that traverses across the 3 blocks that face the Bedok Reservoir. This is accessible via a Bubble Sky Elevator and provides a breath-taking view of the reservoir – which at 88 hectares, is 40% larger than Marina Bay – and its surrounding.

The Sky Park also houses a host of communal facilities such as
• Sky Bar
• Sky Track
• Sky Lounge
• Sunbather’s Paradise
• Sky Wellness Deck

Parking wise, a total of 366 basement parking lots (inclusive of handicapped lots) are available for residents with cars. So it is the typical “1 lot per unit” scenerio although the marketing agent will want to tell you that residents of the smaller 1-bedder units will normally not own a vehicle. But the wife and I do not quite subscribe to that notion.

The only showflat on display is a 1216sqft, 3-Bedroom unit (Type C3).

As you enter the unit you see the kitchen. This is a rectangular strip of an area, with ceramic floors and comes furnished with “Electrolux” hob/hood/oven/fridge and “Grohe” kitchen faucets.

The developer has also thrown in some “extras” such as hanging dish-rack made of stainless steel and a semi glass-partitioned wall separating the kitchen and the dining area.

Those expecting a yard area will be disappointed, as this small space extension from the kitchen will mostly be taken up by the washing machine. If you decide on a separate dryer, this will have to be stacked on top of the washer. In the “yard”, you also find a small utility/maid’s room that will require some creativity to fit a bed inside, as well as a small bathroom.

The rectangular-shaped living/dining area is surprisingly quite huge for a unit of its size – you can comfortably fit an L-shape sofa and 6-seater dining table set here. It comes with 2.85m ceiling and 60cm x 60cm marble floors. You also get a small rectangular balcony that extends out from the living area, which probably has sufficient space for a small coffee table and 2 chairs.

The 2 common rooms, which come with timber-strip floors, are regular shaped and average in size – the room can certainly make do without bay windows, which eat into the interior space. The wardrobe provided is rather small (as can be expected) and the quality of furnishing is nothing much to shout about.

The common bathroom is quite decent size – you definitely would not feel claustrophobic in here. It comes with marble floors and ceramic walls, and is furnished with “Grohe/Duravit” bathroom and toilet fittings. You also get a standing shower stall with the normal wall-mounted shower.

The master bedroom is very good size – you get easily fit a “King” bed and still have quite a bit of room. You also get a 2-panel wardrobe – hardly sufficient cupboard space for most couples but it is the common standard for master bedrooms these days.

The master bathroom is actually huge, and comes with similar furnishing as the common bathroom. However, it does not have a storage cabinet beneath the wash basin as per the common bathroom, which is a pity. It also does not come with a bath-tub nor “rain shower” in the shower stall.

Pricing-wise, here are sample of what you can expect to pay for 3-bedder units in WATERFRONT GOLD that were still available during our visit:

• Tower E (#06-24) – This is a 1227sqft unit that faces the swimming pool:  $1.11 million or $905psf

• Tower C (#06-14) – This is a 1055sqft reservoir-facing unit that is just above the tree-line. However, it does not have a yard or utility room/toilet:  $1.108 million or $1050psf

The wife and I were told that all the 2-bedroom units that were launched in WATERFRONT GOLD so far have all been sold. Only 2 of the 4-bedoom units (Tower E, #14 & #15, 1378sqft) launched are still available.

Prices have already increased by about 2% since the preview, and the developers have also announced that there will be a further price increase when the project is re-launched last week (you may have seen the full page advertisement in The Sunday Times last weekend). This is largely due to confirmation by Land Transport Authority (LTA) on 20th August of the actual MRT stations along the stretch of Downtown Line (Stage 3) to be completed by 2017. WATERFRONT GOLD is situated within walking distance from Bedok Reservoir MRT Station.

We were also told that the proposed new development by Far East, which will be built on the site where the showflat of WATERFRONT GOLD is sitting on currently, is expected to be launched at much higher prices. And the two projects are just adjacent to each other with similar facing/views.

Much of what we like and dislike about WATERFRONT GOLD is pretty similar to Waterfront Key that we have reviewed back in February.

What we like:
• WATERFRONT GOLD is unblocked at the front and also mostly at the back. This means you will get a “view” irrespective of your unit’s facing. Apartments facing the main Bedok Reservoir Road 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 GOLD is not located near any big malls, ample amenities can be found within the HDB estates that is about 5 – 10 minutes walk away. These include a big Sheng Siong supermart, many neighborhood shops and food outlets along Bedok Reservoir Road.

• The upcoming Bedok Reservoir MRT Station along the Downtown Line Stage 3 is about a 10-minutes walk away. However, residents will have to wait for another 3 years or so after the TOP of WATERFRONT GOLD for thier nearest MRT station to be ready. Meantime, they will have to take a feeder bus to connect to Bedok or Tanah Merah MRT stations.

• WATERFRONT GOLD 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.

• There are several primary schools that are within 1-km of WATERFRONT GOLD – Damai Primary, Yu Neng Primary and the very popular Red Swastika Primary School. We were told that 2 other primary schools – Bedok West and Fengshan Primary may also be within 1-km.

What we dislike:
• The quality of furnishing and fitting are better than what we last saw at Waterfront Key (if our memory served us right), but it is still nothing much to shout about. The wife and I certainly expected better especially since Far East, being one of the co-developer, are certainly capable of better quality than what was showcased in the showflat of WATERFRONT GOLD.

• Given that all three “Waterfront”-series projects are lined up next to each other, we have the same concern about noise pollution from the traffic along Bedok Reservoir Road, which we understand is quite busy especially during rush hours. This is especially with units facing the main road (reservoir).

• The three “Waterfront”-series projects will add a total of 1193 new apartment units along Bedok Reservoir Road. 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. And we can expect another 300 – 400 units from the upcoming new project by Far East next door to WATERFRONT GOLD. 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.

In summary, the wife and I maintained that WATERFRONT GOLD, like its previous two “predecessors”, 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 GOLD is second rate at best (in our humble opinion, of course) when you compare it with other “waterfront” projects, if the quality we have seen is what we will get.

But given the currently selling prices of WATERFRONT GOLD, buyers of the previous two “Waterfront” projects must be delighted with their purchases – The URA caveat for May 2010 has indicated that the median price for Waterfront Waves was at $812psf, while that of Waterfront Key was $820psf. The final unit transacted at Waterfront Waves (in May 2010) was at $924psf, while the median price for Waterfront Key in July 2010 was $958psf. For WATERFRONT GOLD, the median price in July 2010 was $984psf.
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WATERFRONT GOLD (Teaser)

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The wife and I finally managed to visit the sales gallery of WATERFRONT GOLD yesterday morning.

Here are some of the photos that we have taken of the showflat –  this is a 1216sqft, 3-Bedroom unit.

Our review of this project will follow soon (* fingers crossed *).

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WATERFRONT GOLD: 68 units sold

The BT today reported that 68 of the 150 units for sale at WATERFRONT GOLD were sold as of yesterday.

These were units released by the developers (Frasers Centrepoint and Far East) last Friday.

The 99-year leasehold condo, which has a total 361 units, is priced at $950psf on average.

Over 70% of units sold were smallish apartments – one bedders, one bedroom + study units and two bedders.

Buyers were predominantly Singaporeans and there was a roughly equal split between those with HDB and private addresses. In absolute price terms, the cheapest unit sold was about $550,000 for a 581sqft one-bedder on the second level. Both penthouses released (about 2000sqft each) were sold at an average price of about $1025psf or $2.1 million each.

Frasers Centrepoint Homes claimed that they are testing the upper end of prices in the upgraders’ market and positioning WATERFRONT GOLD as an upper-mid market condo rather than a mass-market product. This is due to its location and facilities, which includes a sky park with a dedicated express bubble lift. The toilets in the development will also have marble floors.

The developers are offering two of the project’s five blocks, or 150 units, as part of a “deliberate attempt not to sell out the project”. They want to sell progressively and keep the remaining three blocks until the location of the Bedok Reservoir Station on Downtown Line 3 is announced.

WATERFRONT Gold is the third in a series of four condos that Frsers Centrepoint and Far East are developing on the former Waterfront view site.

Waterfront Waves was first released in January 2008 at an average price of about $750psf, followed by the launch of Waterfront Key in July last year at $735psf on average.

The developers have been raising prices in these two projects.

Waterfront Waves is now fully sold and the remaining 100-odd apartments at Waterfront Key are now selling at average prices of $850psf for poolview units and $950psf for reservoir-facing units.

The wife and I wonder if the developers will really stick to their “deliberate attempt not to sell out the project” strategy if buying sentiments return to the previous March/April level and prices start climbing again…
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WATERFRONT GOLD: Preview starts today!

Frasers Centrepoint and Far East Organization begin to preview today their 99-year leasehold WATERFRONT GOLD condo along Bedok Reservoir at an average price of about $950psf. This is according to a report in BT today.

About 150 units or two blocks will be released for the preview. The entire development comprises 361 units in five blocks.

WATERFRONT GOLD will be the first condo in Singapore to feature a skypark, according to the developers. The 8,000sqft park, on the roof of the 15-storey project, will serve as an observation and exercise deck offering view of the reservoir.

WATERFRONT GOLD comprises one-bedders to four-bedroom apartments and penthouses. The cheapest one-bedder (581sqft) will cost $560,000. Two-bedders (893sqft) will be priced from $800,000, while the minimum price for a three-bedroom apartment (1,012sqft) is $900,000. Four-bedders will cost from $1.17 million upwards for a 1378sqft apartment. All starting prices refer to second-floor units.

WATERFRONT GOLD is the third in a series of four projects that Far East and Frasers Centrepoint are developing on the former Waterfront View site.

Prior to the latest condo, they released Waterfront Waves, which is fully sold, and Waterfront Key, a 437-unit condo of which 309 units were sold as at end-May.

The final project, which may be released next year, is expected to have about 500 units.

The entire series, dubbed the Bedok Waterfront collection, has been master-planned to maximize views and access to the reservoir.

As some of you may recall, the Waterfront View site was bought by Frasers Centrepoint/Far East in a much publicized en-bloc deal back in mid-2006 for $385 million. Each of the 583 owners was paid about $660,000. Property consultant then estimated that about 1,400 condominium units can be built at a breakeven cost of about $450psf.
 
Looking at the current Bedok Waterfront collection that is built on this 800,000sqft ex-HUDC site, i.e.Waterfront Waves – 405 units, Waterfront Key – 437 units, Waterfront Gold – 361 units, Another upcoming project – 500 units, this will all add up to more than 1,700 units at an average price of over $900psf.

Not a bad day’s work at the office for the two developers, if you ask us…

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FLAMINGO VALLEY (Review)

The wife and I decided to drop by the sales gallery of FLAMINGO VALLEY this morning. The sales gallery, which is opened for about 2 weeks now, is located at the actual site, along Siglap Road. As some of you are already aware, Frasers Centrepoint Homes bought the freehold site in an en bloc sale back in 2007 and have decided to retain the name of the old development.

Here are the project details of the new FLAMINGO VALLEY

District:   15
Location:   Siglap Road/East Coast
Address:   460 – 480 Siglap Road
Developer:   Frasers Centrepoint Homes
Tenure:   Freehold
Estimated site area:   335,000sqft
Expected TOP:   April 015
Description:   10 Blocks (6x 5-sotrey and 4x 3-storey)
Total number of units:   393
Total number of carpark lots:   393 (all basement)

For a mid-size project with only 393 units, FLAMINGO VALLEY has a mind boggling number of unit types that include lofts and “dual-key” units.

Unit Types & Sizes:
• 1BR+Study (41 units):   517 – 678sqft
• 2BR (65 units):   818 – 1087sqft
• 2BR+Study (24 units):   969 – 1195sqft
• 2BR Loft (4 units):   990sqft
• 3BR (126 units):   990 – 1593sqft
• 2BR “Dual Key” (15 units):   786 – 936sqft
• 3BR “Dual Key” (21 units):   1216 – 1518sqft
• 4BR (48 units):   1593 – 1927sqft
• Roof Terrace PH (21 units):   1647 – 3111sqft
   (2BR/3BR)
• Duplex PH (26 units):   2067 – 2669sqft
   (3BR/4BR w family area)
• Single Level PH (2 units):   2971sqft
   (4BR)

Facilities:
FLAMINGO VALLEY is a full-facility condominium (refer to site plan). The main feature is the Rainforest Valley, with its breathtaking 11-metre high Skybridge and glass lift, as well as the impressive 11-metre cascading water wall.

The first thing that struck us is that the site is actually rather huge for a project with 393 units. However, it is too early to tell if the ground is really as spacious as it is being touted. This is because the 10 blocks are all low-rise that stretches around the 335,000sqft irregular plot.

There are 2 showflats in the sales gallery:
• 1593sqft, 4-Bedroom unit (E1)

• 1206qft, 3-Bedroom unit (C1)

The furnishing/fittings for both showflat are much the same, so we will just go through these generically.

• Living/Dining: Rectangular shape and relatively good size. It comes with 60×60 marble-slab flooring and 2.9m ceiling height.

• Balcony/Plant Box: Rectangular shape and very functional. The balcony/planter box area for the 4-bedder is rather huge – we reckon it is about 200sqft.

• Dry Kitchen (4-bedder): Solid-surfaced worktop with cabinets below and it comes with a sink.

• Wet Kitchen: Rectangular and rather small for both showflat types. Comes with solid surfaced worktop, top/bottom-tier cabinets, “Bosch” brand hob/hood/oven/microwave. However, the kitchen is almost fully enclosed with little/no external ventilation.

• Yard: A decent-sized area that has a dedicated washer/dryer area (separate units need to be stacked though). A door leads to the air-con compressor area, which makes easy access for the service guy. The air-con compressor area is also spacious enough to be used as a drying area for laundry.

• Utility/Maid’s Room: A longish narrow room for the 4-bedder. Bed will definitely have to be custom-made. A small “Maid’s toilet” is located next door.

• Junior Suite (4-bedder): Looks a tad small, with timber strip flooring from good wardrobe space. The attached bathroom is of decent size and comes with “Duravit” bathroom and toilet fittings. However, you only get one of them standard wall-mounted shower.

• Common Bedrooms: These are rather small. Comes with the same timber strip floors and standard wardrobe.

• Common Bathroom: Good-sized, with marble floors and ceramic-tile walls. Storage cupboard is found behind the large mirror as well as underneath the bath sink. It also comes with similar “Duravit” bath/toilet fittings and wall-mounted shower in the shower stall.

• Master Bedroom: This is surprisingly huge for both showflat types. The wardrobe is also ample – you get an L-shaped wardrobe for the 4-bedder that is tucked in one corner of the room, which gives you a “walk-in closet” feel.

• Master Bathroom: Again this is quite huge for both showflat types. The 4-bedder has a long bath and adjacent standing shower (no rain shower though), while the 3-bedder has only a standing shower stall.

What we like:
• The layout of the units – all areas are regular in shape and very functional. The bedrooms are tucked away from the main living/dining area, which allow for better privacy.

• The large plot size of FLAMINGO VALLEY (355,000sqft) in relation to the number of apartment units (393), which will supposedly give you a sense of spaciousness around the development.

• The lush surrounding and extensive facilities within the development – the various themed gardens, Skygarden with its glass lift and the 11-m waterfall look particularly interesting.

• There is the choice of either Opera Estate Primary (co-ed, and supposedly a rather good school) or St. Stephen Primary (boys) that is within 1-km of FLAMINGO VALLEY.

What we dislike:
• The wife and I are not impressed with the quality of furnishings and fittings provided, especially in relation to the price. The brand and look of kitchen appliance within the showflat is particularly disappointing for a project of its status.

• There are currently no designated visitor’s parking lots in this development. We were told by the marketing agent that some surface parking lots for visitors may eventually be provided, but there are no guarantees. Should they be no decidated visitors lots, visitors will have to use the same parking lots provided by residents – a potential point of contention among redidents. And if you are familiar with the location where FLAMINGO VALLEY is sited, it is a nightmare trying to find roadside parking nearby.

• The only access into/out of FLAMINGO VALLEY is via Siglap Road. This is a rather busy road lined by houses/apartments on either sides. Given the increased number of apartment units (from 112 previously to 393 now) in FLAMINGO VALLEY and another new project (Siglap V – 114 units) coming up further down the road, one can expect even more congestion along this stretch of road when these projects are fully occupied.

• FLAMINGO VALLEY is located next to Muslim cemetery. One can argue that the whole of Bishan used to be one big burial ground before, but is now one of the most sought after residential address. However, the bodies buried under Bishan are exhumed and that makes quite a fair bit of difference… at least to the wife and I.

Pricing wise, units in FLAMINGO VALLEY are selling for $1150 – $1250psf. As an illustration:

• Block 476 #02-53, 1593sqft Type E1 (4BR) – $1,981,800 or $1244psf
   * This is one of the best facing units – towards the main pool.
• Block 480 #02-73, 1593sqft Type E1 (4BR) – $1,934,100 or $1214psf
   * This unit is west facing – hot!

We will avoid stacks #01, 02, 05, 06, 09 & 10 of Block 460 (as these faces the main Siglap Road – noisy!) and stacks #19 – 27 of Block 468 (faces the cemetery)

The monthly maintenance is surprisingly affordable though: The 4BR owners will pay around $270/month while the Penthouse owners (2,200+sqft) will pay around $330/month.

Overall, the wife and I felt that FLAMINGO VALLEY is somewhat over-priced, considering it is located almost at the fringe of district 15 and the quality demonstrated within the showflats. And call us “puntang” if you like, but the wife and I will not part with almost $2 million dollars to stay next to a cemetery.

Give us a shout if you are interested in the floor plan of other unit types – just do not ask us to email you ALL the floor plans.
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