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 $1.08M
2 bed fr $1.34M
3 bed fr $1.83M
4 bed fr $2.64M
(> 580 units SOLD by Nov 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.
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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