Uptown @ Farrer

Uptown @ Farrer is a mixed-used development that is attractively located right beside Farrer Park MRT station and in front of City Square Mall. Upon completion, the development will provide 116 units of flats (23 storeys), 240 units of serviced-apartments (18 storeys), two levels of car park, and 500 sqm of commercial space.

Uptown @ Farrer Farrer Park Facade 2

Uptown @ Farrer Location

In addition to the convenience of Farrer Park MRT station, within the ~2km radius of Uptown @ Farrer include Plaza Singapura, Bugis Junction, Novena Square, Newton MRT station, Tan Tock Seng Hospital and Singapore Sports Hub! The location is unbeatable due to its proximity to so many areas of interests!

Uptown @ Farrer Farrer Park location

For investors, there is no lack of tenants due to the short walking distance to Farrer Park MRT station, and the typical tenant profile ranges from white collared workers who work in the CBD, staff working in the retail industry at the Orchard/Bugis belt, to healthcare staff working in the medical suites in Novena.

Nearby Amenities

Category Nearby Amenities Approximate Distance
Train Stations Farrer Park (NE8) 0.1km
Bus Stop Opp Farrer Park Station (Bus: 141)
After Race Course Rd(Bus: 131, 141)
0.1km
0.1km
Supermarkets Fairprice (City Square Mall)
Prime (803 King George’s)
Sheng Siong (108 McNair Road)
Cold Storage (Bugis Junction)
0.2km
0.8km
1.1km
1.5km
Shopping Malls City Square Mall
Mustafa Centre
Kitchener Complex
The Verge
Sim Lim Square
Albert Complex
Bugis Village
Fortune Centre
Bugis+
Bugis Junction
Novena Square
0.2km
0.3km
0.8km
1.0km
1.1km
1.2km
1.4km
1.4km
1.5km
1.5km
1.5km
Education Institutions Preschool
Khalsa Kindergarten
PCF Moulmein Blk 10
MOE Kindergarten @ Farrer Park
Foochow Methodist Church Kindergarten
Kampong Kapor Methodist Church Kindergarten
PCF Jalan Besar Blk 806
PCF Kampong Glam Blk 462-3
NAFA Arts Kindergarten (Derbyshire)
Thomson Road Baptist Kindergarten
Newton Kindergarten
0.4km
0.4km
0.5km
0.6km
0.6km
0.8km
1.1km
1.1km
1.2km
1.6km
Primary
Farrer Park Primary School
Stamford Primary School
Hong Wen School
Saint Joseph’s Institution Junior
Bendemeer Primary School
Saint Margaret’s Primary School
Anglo-Chinese School (Junior)
Balestier Hill Primary School
0.5km
1.0km
1.0km
1.2km
1.5km
1.6km
1.6km
1.9km
Secondary
Northlight School
Bendemeer Secondary School
Balestier Hill Primary School
School of the Arts, Singapore
CHIJ Katong Convent
0.7km
1.4km
1.6km
1.6km
1.9km
Junior College
St. Andrew’s Junior College 2.5km
Tertiary
Nanyang Academy Of Fine Arts
Singapore Management University
1.5km
1.8km
International
Insworld Institute
Italian Supplementary School
0.8km
1.4km
Food Centre Berseh Food Centre
Pek Kio Market And Food Court Centre
Tekka Market
Bendemeer Road Block 29 Market And Food Centre
Whampoa Drive Market & Food Centre
North Bridge Road Market & Food Centre
Albert Centre Market and Food Centre
Golden Mile Food Centre
Newton Food Centre
Upper Boon Keng Road Block 17 Market & Food Centre
Geylang Bahru Block 69 Market And Food Centre
0.6km
0.7km
0.8km
1.2km
1.2km
1.3km
1.3km
1.6km
1.7km
1.9km
1.9km
Lifestyle Singapore Khalsa Association
Civil Service Club @ Tessensohn
Chinese Recreation Club
People’s Association HQ
Singapore Indian Association
Jalan Besar Stadium
Ceylon Sports Club
Kampong Glam Constituency Sports Club
St Wilfred Sports Complex
Kallang Water Sports Centre
Safra Clubhouse – Toa Payoh
0.4km
0.4km
0.5km
0.6km
0.6km
0.7km
0.7km
1.4km
1.6km
1.9km
1.9km

Uptown @ Farrer Specifications

Project Name: Uptown @ Farrer
Address: Perumal Road
Developer: Low Keng Huat (Singapore) Limited
District: 8
Tenure: 99 years
No. of blocks TBA
Total no of Units: 116 units of flats (23 storeys) & 240 units of serviced-apartments (18 storeys), and 500 sqm of commercial space.
Facilities TBA
Site area: 3,847.8 square metres/ 41,417 square feet
Expected TOP: TBA
Architect TBA

Site Plan

To be advised

Unique Features

  • Uptown @ Farrer is an integrated development with residential units, serviced apartments, hotel and 1st floor commercial unit
  • 68 steps to Farrer MRT station and 2 stops away from Dhoby Ghaut interchange
  • Newton, Bugis, Novena and Kallang are within 2km radius!
  • Close proximity to CBD
  • Within 5 mins walk to City Square Mall
  • Easy access to NTUC supermarket, Golden Village cinema and many other child friendly amenities at the mall
  • Hot Location for all investors
  • Huge tenant pool
  • Reputable developer and main contractor (Dragages Singapore Limited)

Photo Gallery

Uptown @ Farrer Farrer Park Facade

Uptown @ Farrer Floor Plans

TBA

Unit Mix

TBA

Uptown @ Farrer Official Pricing

In Jan 2017, URA awarded the Government Land Sale to top bidder Low Keng Huat (Singapore) Limited at the price of SGD174m, which translates into 1,000 psf of GFA. There were a total of 11 bids, largely due to the developers’ interest to replenish their land banks and the reduced availability of land offered under the Government Land Sale programme in recent years.

Uptown @ Farrer Farrer Park GLS pricing

Based on the land cost, and the relatively more complex construction costs (given that the site is built on a densely built up area), the estimated average selling price is expected to be above 1,700psf.

Register now to obtain first hand updates on the pricing based on your choice units!

About the Developer

Low Keng Huat (Singapore) Limited (“LKHS”) is a builder established since 1969, and is listed on the Singapore Stock Exchange (SGX). Today, its business has grown to encompass building construction, property development, hotels and investments.

The Company is one of the largest general building and civil engineering companies in Singapore in terms of capital employed. It is an A1 registered general building contractor, the highest grade under the Building and Construction Authority of Singapore classification, and is qualified to tender for public sector contracts with unlimited tender sums .

Complementing the construction activity is the Company’s property development business in Singapore and Malaysia.

In addition, LKHS owns and operates deluxe hotels in Perth (Australia) and Ho Chi Minh City (Vietnam) under the in-house brand Duxton Hotel. Its other hospitality-related business is food & beverage business in Singapore. Among its investment portfolio are investment properties in Singapore, Malaysia and China.

Projects which have been managed by LKHS include the following:

  • Mandarin Gallery
  • South Bank
  • Hard Rock Hotel
  • nex Mall
  • The Chuan
  • Twin Regency
  • Domain 21
  • Novena Square Extension
  • One-North Residences
  • The Minton
  • Paya Lebar Square (under construction)

About the Main Contractor

Dragages Singapore landed in Singapore with its first project – Newton MRT Station, in 1984. Since then, the company has been involved in a range of landmark projects, playing a pivotal role in shaping a better country for Singapore.

With a track record of successful projects, Dragages Singapore is recognized as a pioneer in its industry, spearheading new construction techniques and technologies across its building and energy-efficiency solutions. Focusing on continuous innovation, Dragages Singapore has successfully developed and implemented Design for Manufacturing and Assembly (DFMA) system to its projects which is in line with the Singapore Government initiative and direction towards the industrialisation of construction industry and using less manpower through the application of Prefabricated Prefinished Volumetric Construction (PPVC) system and the implementation of MEP Modular System.

As part of a globally-respected network of construction-related companies in Bouygues Construction, Dragages Singapore has the support, resources and technical know-how to complete the most technically demanding projects.

Register Interest Now

Uptown @ Farrer is expected to open for viewing in September 2018. REGISTER NOW for an appointment at our showflat and enjoy VIP pricing direct from the Developer! No agent commission required!

Registration Form
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Great location
  • Location
5

Summary

This is a rare site to be launched in the vicinity and will be one of the final opportunities for buyers to pick up a competitively priced new project which is located right next to a MRT station and near to so many places of interest.

 


Property News and Updates

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William Chen • Powerhaus
William Chen • Powerhaus
TRIPLE LAUNCH WEEKEND!
VAN HOLLAND VS LEEDON GREEN VS THE AVENIR

We are barely into the new year and developers decided to launch all 3 projects for preview at the same time!

Most people would have expected property prices to moderate by now, but it only gets higher! Sounds familiar? Didn't we all expect prices to drop after North Korea bombarded Yeonpyeong, after the Eurozone debt crisis, after Grexit, after Brexit, after the US-China trade war? But prices have climbed 50% on average since the Yeonpyeong incident back in 2010.

So here we are in 2020 and the prices of these 3 new projects continue to set the benchmark:

1) Van Holland (FH next to Holland Village MRT) - ave $3000psf
2) Leedon Green (FH within 7mins walk to Farrer Road MRT) - ave $2,700psf
3) The Avenir (FH within 3mins walk to Great World MRT) - ave $3,200psf

If I have $2m to spare, which one will you buy? I will buy The Avenir for sure! Not only because it offers better value for money in terms of the price/location consideration, its layout is beautifully done! Come see all 3 projects for yourself with me!
William Chen • Powerhaus
William Chen • Powerhaus
UPCOMING LUXURY CONDOS IN HOLLAND AND RIVER VALLEY

2 new long awaited projects are opening for public preview this weekend. Here's a quick introduction for you:

1. LEEDON GREEN
This is the rebirth of Tulip Garden, which is right beside D'Leedon and mins walk from Farrer MRT station. With 638 units at a GCB enclave, Leedon Green is one of the biggest new launch in the vicinity. It's freehold, yet expected to launch cheaper than One Holland Village! It is definitely a magnet for diehard freehold fans who cannot bring themselves to buy the likes of D'Leedon. The developer is a JV between MCL Land and Yanlord. If One Holland Village can sell 30% of its units on its first weekend of launch, how do you think Leedon Green will fare?

2. AVENIR
This is a little more upmarket at River Valley, where we find another condo reborn from the former Pacific Mansion. Avenir, another freehold condo with 376 units, is 3mins walk from the future Great World MRT station which is just 1 stop away from Orchard. It is also around 10mins walk to the current Somerset MRT. I love Martin Modern's layout. From 3.2m ceiling height and very spacious living rooms, we can easily spot how GuocoLand has incorporated the brilliance of Martin Modern into Avenir. The developer is a JV between GuocoLand and Hong Leong. Oh, and can you believe the kitchens come with air conditioning too?

Official prices for both condos will be released closer to this weekend. If you would like to find out more or have a look at the showflat, let me know. Early bird discounts are available for units booked on launch date.
William Chen • Powerhaus
William Chen • Powerhaus
99Y HDB vs CONDO - DO THEY DEPRECIATE THE SAME WAY?

If HDB prices can depreciate to zero, shouldn't condo be the same? Shouldn't a 99Y lease HDB and a 99Y lease condo both depreciate at 1%pa?

We know that based on real world behaviour, this doesnt happen. But why? To answer that, we gotta have a better understanding of the concept of depreciation. Let's use a Singapore registered car as an example where its useful life is 10 years. Simply, if you bought the car at $100k, its depreciation should be $10k per annum right? Actually, that's incorrect as we have not taken into account its residual value at the end of its useful life. At the end of 10 years when COE expires, if the car still has scrap value of $20k the annual depreciation is only be $8k per annum.

Now back to the topic of real estate. Private leasehold properties tend to get sold en bloc before the end of the 99 years. In the last enbloc cycle, most of those which went enbloc were around their 40th year mark. And the owners were rewarded handsomely above market value. This would fall under the definition of "residual value". Though it's impossible to quantify the residual value at the time of purchasing a property, this gets factored into the depreciation one way or another. With a high residual value, inflation can easily overtake the rate of depreciation and therefore, nominal prices can still rise.

What about HDBs? Question is - can a private developer buy a HDB block and redevelop it? In the past, some HUDCs have privatised and subsequently sold enbloc to developers. A prominent example is Eunosville which eventually became Parc Esta, and the prior owners walked away millions richer. But this is a very rare example because the owners of Eunosville have to agree to pay a huge sum to the government to buy over the carpark space and other common areas before they could privatise. Not many residents are willing or able to fork out this huge sum, but the residents of Eunosville eventually did so and it paid off handsomely!

Judging by the total number of HDB flats in Singapore and the number of them that eventually privatised and went enbloc, the chances of reaping the benefits of former Eunosville owners are virtually zero. At best, HDB owners have a 4-5% chance of VERS or SERS, which just means you get compensated at market price and get priority to book a new BTO in a nearby location.

That explains why when we compare HDB prices vs condo prices over the past 20 years, condo prices (even those with 99 years) rose much faster. Do you think this trend will continue?
William Chen • Powerhaus
William Chen • Powerhaus
Sometimes, real estate analysts have vested interest and may make biased projections about property price outlook.

When a non-real estate player like Fitch makes a forecast, I guess it is more believable 😄
William Chen • Powerhaus
William Chen • Powerhaus
ONE-TIME LEASE TOP UP FOR AGEING HDB FLATS?

There's growing awareness about HDB lease decay and how that will impact property prices. This is especially so after Lawrence Wong mentioned that HDB prices will depreciate to zero eventually.

Recently, there were suggestions to implement a one-time lease top up of ageing HDBs back to 99 years to tackle the lease decay issue. It's a radical idea, and let's take an IMAGINARY journey if this were to be implemented:

--------------------------------

Tommy recently paid $600k for a 10 year old 5-room flat in Hougang. Overnight, HDB announced that the 40-year-old flat next door's lease is topped up back to 99 years! His "newer" flat immediately lost value because his neighbour's flat instantly became more desirable than his. He was also unhappy that his neighbour paid less to buy an older flat and was rewarded for it by automatically qualifying for the one-time lease top up. Tommy rants on social media, and he's not alone. He gathers his friends to meet the MPs and demand that the remaining lease of his flat gets topped up to 139 years to be fair. After all, if his neighbour can enjoy additional 50 years for nothing, why shouldn't he?

As elections approach, HDB is forced to concede to such demands, and decides to automatically add 50 years lease across all HDB flats in Singapore. Consequently, it created an expectation that the remaining leases of all HDB flats will continue in perpetuity. HDB flat owners start adjusting their asking prices as if they are selling freehold properties. Resale HDB flats become increasingly out of reach for 1st time property buyers, and it becomes harder for retirees to cash out by downgrading to a smaller and older HDB flat.

--------------------------------

Do you think the government will allow this to happen? 🤔

https://www.propertyguru.com.sg/property-management-news/2019/12/185088/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay
William Chen • Powerhaus
William Chen • Powerhaus
STIRLING VS AVENUE SOUTH

I have a few clients who compare these 2 projects and are undecided which is a better buy. In terms of pricing, both are rather similar priced around $1900-$2000psf. Both are quite near to town and are located towards the west side of Singapore. Both are high rise projects with about 1000 units, and even the exterior design is quite similar. While Stirling is nearer to an MRT station, Stirling is nearer to town as the crow flies, and rides on the Greater Southern Waterfront Transformation. Stirling's developer is Logan, whereas Avenue South's developer is a more established one - UOL.

The above-mentioned factors are what most buyers will consider. Given the various trade offs, there is no obvious winner unless one feels very strongly about staying near MRT station, or believes strongly in the future transformation at the Greater Southern Waterfront.

But one very important consideration that many buyers miss out on is this ===> TIME! What do I mean?

These will be my typical questions to buyers considering between these 2 properties:
1) Let's say you are buying this unit for investment. When are you intending to cash out?
2) If you're buying this for own stay, do you foresee any life events that require you to move out to another place within the next 6-7 years? e.g. get married, have more children, etc?

Why are these questions important? Let me illustrate this with an example. I have a single buyer in his late 20s who would like to buy a 1 bedroom unit for own stay. So quite likely, he will get married and settle down within the next 5 years or so. If he has kids, he will definitely need to upgrade within the next 10 years. Here is the golden question => if he intends to buy Avenue South for capital appreciation, will he get to enjoy it within the next 10 years before he needs to move elsewhere? If Keppel port will be moving to Tuas only in 2027, can he wait for this area to be redeveloped before realising the profits from his investment? If not for the current publicity around Avenue South, will he consider buying a property in that area?

Buying is easy. Selling may not be. I can help you think ahead to avoid buyer remorse in the years ahead! 😄