Avenue South Residence – Prestige & Luxury in new southern gateway
Avenue South Residence, a prestige and luxury icon rises near the new greater southern waterfront. In this review, I will show you some facts and analysis. Please follow Quick Links or feel free to contact us for latest movement or register your interest.
Avenue South Residence is expected to launch for preview in Aug 2019.
AVENUE SOUTH RESIDENCE
LATEST STAR-BUY PRICE
1 bed fr $1.065M
2 bed fr $1.31M
3 bed fr $1.67M
4 bed fr $2.64M
(> 450 units SOLD by May 2020)
Avenue South Residence Overview
A forgotten part of District 3 is set to come alive with a brand new condo launch. Renowned local developer UOL will launch one of its only two new projects in 2019 – Avenue South Residence. Once completed, this twin 56-storey condo development will be one of Singapore’s tallest residential buildings at 200m and a never before seen landmark in Kampong Bahru.
Reasons why you should consider Avenue South Residence
1. UOL has a track record of designing masterpiece projects at affordable pricing, more so for this project due to first mover advantage.
2. Standing at 56-storeys, Avenue South Residence is the only and tallest building in Kampong Bahru that offers unrivalled breathtaking views of both Singapore skyline and sea view. Residents can even see as far as Johor and Riau Islands on a clear day.
3. Its Central Region location means great accessibility to Tanjong Pagar, Downtown Core, HarbourFront and the future Greater Southern Waterfront; with the upcoming Rail Corridor right at the doorstep.
4. Public transportation is aplenty with Kampong Bahru Bus Terminal opposite and 2 MRT stations nearby: Outram Park Interchange (NEL/EWL/upcoming TEL) and upcoming Cantonment CCL.
5. 5. There are over 80 facilities for residents to enjoy including 18 function rooms and 18 sky gardens.
District 3 falls under Rest of Central Region (RCR) in Singapore’s Central Region. This gives residents living in Avenue South Residence superb accessibility to major parts of central Singapore but without the high cost of living in Core Central Region (CCR).
Technically, the area surrounding Avenue South Residence is known as Kampong Silat and Kampong Bahru is actually right opposite at Spooner Road. Over the years, urban planners expanded Kampong Bahru into an estate that incorporates Kampong Silat, Bukit Purmei and Bukit Teresa.
Kampong Silat has its name derived from the Malay word “selat”, meaning “straits” in English, as the area was once near the Singapore Straits prior to land reclamation. The surrounding area soon became known as the train yard of the nearby Tanjong Pagar Railway Station when it opened in 1932.
Post-World War 2, Singapore Improvement Trust (SIT) (HDB predecessor) began constructing public housing and shops from 1948-1952. The completion of Kampong Bahru Estate makes it the second oldest public housing estate after Tiong Bahru.
Subsequently, these originally 31 buildings began to make way for taller HDB flats in the vicinity and the remaining 13 flats at the site of Avenue South Residence were chosen for HDB SERS in 2007. As of today, only 5 blocks are conserved by URA in 2014 and they will form part of the new development.
Avenue South Residence is a 245,972 sq ft brand new Government Land Sales (GLS) development. Silat Avenue is a minor road leading to Kampong Bahru Road, which can be reached via Chinatown/Outram Park eastwards or Telok Blangah/HarbourFront westwards.
A brand new Kampong Bahru Bus Terminal has just opened in March 2019, following the closure of New Bridge Road Bus Terminal in SGH. A total of 12 bus services connect residents to not only nearby Chinatown and Shenton Way but also other parts of Singapore as far as Boon Lay and Pasir Ris.
Along Kampong Bahru Road, 4 bus services are available to take commuters to Outram Park MRT in 3 minutes and HarbourFront MRT/VivoCity in under 10 minutes.
Come 2025, the new Cantonment CCL station will also serve residents nearby, via the green Rail Corridor by foot in 8-10min.
Shopping and Dinning
As mentioned earlier, travelling to major shopping and dining enclaves take around 10 minutes, at most 15.
VivoCity, Singapore’s largest shopping mall at over 1 million sq ft, is located southwards of this project. From there, Sentosa is connected via cable car, monorail or by foot.
Travelling northwards will lead to Tiong Bahru, Chinatown, Tanjong Pagar/Duxton Hill.
Tiong Bahru, site of the oldest public housing in Singapore, has evolved into a hipster joint with many F&B outlets and boutique hotels taking over the conserved SIT flats. Tourist haunt Tiong Bahru Market is a place where one of the best Singapore hawker fares can be found.
Chinatown, with its rich history and Chinese culture, filled not only with shopping and dining options but also many conserved shophouses to explore.
Tanjong Pagar, a place mixed with old and new buildings, features Singapore’s tallest HDB flats at 50 storeys, The Pinnacle@Duxton In Duxton Hill. The famous ang ku kuehs from Everton Park, is also within Tanjong Pagar.
Not forgetting the world famous Orchard Road, mentioned earlier in the review.
Avenue South Residence is within 1km to CHIJ (Kellock), CHIJ (St Teresa’s Convent) and Radin Mas Primary in Bukit Purmei/Bukit Teresa neighbourhood. Expanding the radius to over 1km sees 3 more primary schools: Gan Eng Seng Primary in Bukit Merah, Zhangde Primary in Tiong Bahru and Cantonment Primary in Cantonment neighbourhood.
The biggest draw for staying in Avenue South Residence is definitely the abundance of nature exploration.
Right at the doorstep is the Rail Corridor. Formerly the railway tracks of Malayan Railway (KTM) until July 2011, the 24km route linking Tanjong Pagar Railway Station and Woodlands will reopen by 2021 as a “green corridor”, a nature and heritage trail linking 1 million people within 1km radius. An access park in front of Avenue South Residence will lead residents and the public to the Rail Corridor by 2023.
Mount Faber is a 8-minute drive from the project, but will be complemented by funicular service from foothills to the hilltop by 2023. Standing at 106m, Mount Faber has panoramic views of HarbourFront and the future Greater Southern Waterfront, currently occupied by PSA terminals. Visitors also can also dine, shop or take a cable car ride to Sentosa. For the more adventurous, Mount Faber is also the starting point of the 10km Southern Ridges trail connecting Telok Blangah Hill, HortPark, Labrador Park and Kent Ridge Park. The whole hiking trail takes between 3-5 hours to complete.
Beyond 2030, once all the PSA ports and terminals are relocated to the Tuas Mega Port, a new 1,000ha Greater Southern Waterfront, double the size of Punggol and stretching from Pasir Panjang to Marina East, will transform the area into the southern gateway of Asia.
Under the recently announced URA Draft Masterplan 2019, a new Pasir Panjang Linear Park will link West Coast Park and Labrador Park, giving hikers another hiking experience beyond the Southern Ridges trail. Plans are also in the works to make the Greater Southern Waterfront car-lite and walkable from various points.
The RCR location of Avenue South Residence enables residents travelling to work in no more than 10 minutes. These areas include Downtown Core/Marina Bay, Tanjong Pagar and Orchard.
Even the furthest parts of central region, Mapletree Business City, Henderson Industrial Park, Bras Basah/Bugis and Suntec City take no more than 15 minutes of driving.
Healthcare professionals and biomedical affiliates will also be pleased to know that SGH, recently ranked third-best hospital in the world by Newsweek magazine, and Ministry of Health are only a mere 3-minute drive/bus ride via Eu Tong Sen Street or a 5-minute walk via Jalan Bukit Merah. Currently undergoing a 2-decade phased expansion, the new SGH Campus will be regrouped into 3 clusters for medical, education and R&D, over a gargantuan 43ha space.
At 245,972 sq ft, Avenue South Residence is a rare large-scale site for housing projects, as land parcels put up for GLS are relatively smaller nowadays. A total of 1,074 residential units spreading across 56-storey twin towers of 200m height will rise above the former SIT Kampong Silat Estate. This project will also house 8 commercial units, a Childcare and a public access park linking the Rail Corridor.
As part of the URA conservation guideline, Avenue South Residence is also made up of 5 conserved 4-storey flats built by SIT. These flats, designed by SIT chief architect, S.C. Woolmer, features Art Deco facades and continuous curved concrete shades that shield rain and sunlight, a thoughtful consideration of Singapore’s climate. These conserved buildings will house the remaining 86 residential units at the upper floors, and a childcare centre and 8 commercial units on the ground floor upon completion.
There will also be a public access park with playground outside the commercial units linking this project with the Rail Corridor, connecting greenery with halo effect.
Over 80 amenities are categorised into seven zones including The Cloud that is within the twin towers.
The Cloud features 18 experimental sky gardens at various levels of the twin towers, from camping grounds and scent garden at the lower levels to a hanging garden and an observatory at the upper levels. There is also a sky court at level 36 and 4 function rooms at level 56. The sky court and function rooms offer unrivalled panoramic views of Singapore skyline from the Greater Southern Waterfront (future)/Southern Islands and Central Business District to the “mountainous” Mount Faber and Bukit Timah Hill. On clear days, views as far as Johor and Riau Islands can also be seen from level 56.
There are also 18 unique dining and entertainment venues in The Oasis and The Sanctuary zones. These venues include 2 karaoke and 1 piano rooms in the Sanctuary Clubhouse for music lovers and 3 fitness facilities in the Fitness Suite (The Oasis).
At The Wilderness, immerse amongst the 7 preserved majestic rain trees in the Majestic Trees Trail that runs parallel and blending in with the Rail Corridor.
4 levels of carpark at the twin-tower with 1,001 lots are allocated for residents of Avenue South Residence, accessible via Silat Avenue Entrance. There is also a basement bicycle park near the side gate at Block 5 (conserved) for convenient access to both public park and Rail Corridor.
Residential units are divided into 3 collections for this development. Heritage collection consists of the 86 units in the upper floors of 5 conserved buildings overlooking the former railway yard or swimming pools. Separated by the sky court, the twin towers are made up of Horizon collection units from level 3-35 and Peak collection units from level 37 onwards.
A thoughtful design, all balconies in tower Block 11 will have acoustic ceiling to cushion traffic noise from Ayer Rajah Expressway, some 100m at its nearest distance.
|Project Details||Avenue South Residence|
|Location||Silat ave, Singapore|
|Tenure||99 years Leasehold|
|Payment Scheme||Normal Progressive|
|Site Use||Residential Flat Developement|
|Site Area||22,852 sqm / 245,975 sqft|
|No. of Blocks||Twin Towers|
|No. of Storeys||56 storeys|
|Total No. of Units||1074 Units|
|No. of Car Park Lots||TBC|
|Expected Date of TOP||Est. 2023|
|Expected Date of Legal Completion||Est. 2026|
|Security||24 Hours Security Guard|
Avenue South Residence Price, Unit Types, Sizes
*Estimated. Subject to change.
|Bedroom Type||No of Units||Size||Price (from)|
|1 Bedroom||242||474 - 527 sqft / 44 - 49 sqm||$857k|
|2 Bedroom||504||646 - 807 sqft / 60 - 75 sqm||$1.15M|
|3 Bedroom||224||936 - 1109 sqft / 87 - 103 sqm||$1.6M|
|4 Bedroom||104||1496 sqft / 139 sqm||$2.6M|
Avenue South Residence Floor Plan
Furnishings and fittings speak quality luxury in this project.
For instance, marble flooring will be used for the living room in twin-tower units for an opulent look while timber flooring in the other rooms gives a warm feeling.
Specialty brands are also carefully curated to complement every unit.
Bathrooms come fitted with German sanitary labels Hansgrohe and Duravit. Notably Duravit, a high-end sanitary product manufacturer with history dating back to 1817 and known for its durability and signature designs by high-profile international designers. These designers include Germany’s sieger design and French design icon Philippe Starck, whose portfolio included the designing of M Social Singapore and JW Marriott Hotel Singapore South Beach.
Depending on the collection, residents will be getting two different ultra luxury kitchen appliances brands, both with a legacy of over 330 years. Residents from Horizon and Heritage collections will get De Dietrich from France, enjoyed by connoisseurs for its pioneering innovations and technologies such as self-cleaning oven and the Intelligent Cooking System. It also bears “Origine France Garantie”, the official label certifying its French origin. Residents living in Peak collection will get Gaggenau, an award-winning and handcrafted luxury German brand from the Bosch and Siemens family.
Perks & Benefits
All residents get 1-year complimentary shuttle bus service to Outram Park MRT and fitness class. On-demand pet service, private chef and Housekeeping will also be provided. In addition, Peak collection buyers will exclusively receive Pan Pacific Platinum membership.
Avenue South Residence Price Comparison
Price comparison will be made against other nearby projects within District 3 and neighbouring Districts 2 within 1km radius.
Looking at the table, price for the nearby newly TOP projects are ranging above $2,000 psf., with 2 bedroom asking price from $1.32M to $2.5M.
We believe Avenue South Residence will be able to find its sweet spot if launching price is around $1,800psf and keep the 2bedroom quantum below $1.3M. If the project do launch at this price range, UOL shoul be able to achieve a reasonable profit margin of 20% based on its land bid price of $1,137 psf.
Avenue South Residence Rental Estimate/Comparison
The nearest similar scale condo is Highline Residence at Tiong Bahru. It's current average rental rate is 5.9 psf for 2 bedder.
If we take that as rough gauge, and considering the fact that Avenue South Residence location may be less favorable due to lack of major shopping malls and MRT at the moment, a fair rental price here might be 5 psf with 15% discounted price. With that, the rental yield for this project would still reach a healthy 3.3% p.a.
Some thoughts on Avenue South Residences
1. Being the first condo launch in Kampong Bahru, it is not easy to gauge how popular this area will be for potential buyers/investors. However, interest may grow in the next decade once more details on the development of Greater Southern Waterfront is announced.
2. The development sits in a matured HDB estate, which provides good range of shops including Salon, Laundry, banks, food courts and supermarkets within immediate neighbourhood. However, for some people, they may find the location not so exclusive.
3. The unit mix for Avenue Source Residence is skewed towards 1- and 2-bedrooms at 70%. Such unit types are smaller and better catered for singles, couples without kids and rental investments.
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On the first day of launch, as at 7.45 pm on Sept 7, UOL Group sold 276 out of 300 units released at Avenue South Residence. The sales translates to 26% of the total 1,074-units in the residential project developed jointly by UOL Group, UIC and Kheng Leong Co.
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