PROJECT DETAILS
The Urban Redevelopment Authority (URA) has sold a residential site in Clementi Avenue 1 as part of Government Land Sales (GLS), 1st quarter of 2016. This land parcel bounded by Clementi Avenue 1, Clementi Road and Ayer Rajah Expressway (AYE) under Clementi Planning Area, is listed under the confirmed list of sites and is allocated to be developed into condominium. This site is expected to house 500 residential apartment units.
SingLand Homes and UOL Venture Investments won the top bid of S$302.1 million which translates into S$615 per square foot per plot ratio (psf ppr). The break-even price for this plot of land is approximately S$1100psf.
New and upcoming condo in Clementi Avenue 1 is near to Commonwealth Avenue West and Dover Road. It is opposite of the International Community School. It is close by to Nan Hua High School which is separated by Clementi Avenue 1. New Condo is beside NUS High School Of Mathematics And Science. The site of New Condo belongs to a former Housing Development Board (HDB) estate.
Other developments that are within New Condo’s vicinity include The Trilinq, Seahill, NeWest, The Sorrento, Clementi Woods Condominium, Varsity Park Condominium, Village @ Pasir Panjang, The Parc Condominium, Hundred Trees and Waterfront @ Faber.
New and Upcoming condo launch in Clementi Avenue 1 is approximately 900 m away from Clementi Town Centre when the Clementi Bus Interchange and the Clementi MRT Station. The Clementi MRT Station operates the East West Line which has one of the widest coverage to various parts of the island. Future residents will also find conduit of conveniences in terms of commuting to various parts of island with the many bus services available at the Clementi Bus Interchange.
It takes approximately 12 minutes to drive from New Condo in Clementi Avenue 1 to the Central Business District (CBD) and Orchard Shopping Belt. New Condo is also highly accessible to various parts of the island with the nearby Ayer Rajah Expressway (AYE). This expressway can easily link various expressways such as the Central Expressway (CTE) and also the Pan Island Expressway (PIE).
In terms of daily conveniences from dining, shopping, entertainment needs to getting basic necessities, future residents of New Condo in Clementi Avenue 1 can take a short walk down to the West Coast Plaza or there are more options available at Clementi Town Centre where the Clementi Mall and Cityvibes shopping malls are located. Future residents can also get fresh market produce and also economical and yummy local food at the Clementi Avenue 3 Block 448 Market and Food Centre. Other food centres that are located just short drives away from New Condo include Clementi West Street 2 Block 726 Market And Food Centre, Clementi Avenue 2 Block 353 Market and Food Centre, West Coast Drive Block 503 Food Centre, West Coast Drive Block 502 Market and Dover Road Block 33 Market And Food Centre.
There are many established local institutions such as Clementi Primary School, Pei Tong Primary School, Qifa Primary School, Nan Hua Primary School, Clementi Woods Secondary School, New Town Secondary School , Kent Ridge Secondary School. School Of Science And Technology, Singapore, Clementi Town Secondary School , Tanglin Secondary School and Anglo-Chinese School (Independent).
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| Project | Clementi Avenue 1 New Condo |
| Developer | SingLand Homes and UOL Venture Investments |
| Location | Clementi Avenue 1 |
| District | 05 |
| Tenure | 99 years lease |
| Site Area | 13,037 square metres/140,339 square feet |
| GFA: | 45,632 square metres/ 491,190 square feet |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Approximately 500 residential apartments |
| Total Carpark | |
| Development | Private Condominium comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner |
LOCATION and AMENITIES
Amenities Near New Condo at Clementi Avenue 1
| Category | Important Amenities Near Clementi Avenue 1 | Approximate Distance |
| Train Stations | Clementi (EW23) | 0.9km |
| Bus Stop | Clementi Flyover (Bus: 188, 196, 197, 198, 97, 97e, 963, 963R) Aft Clementi Swim Cplx (Bus: 97, 97e, 963, 963R, 188, 196, 197, 198) |
0.2km 0.2km |
| Supermarkets | Cold Storage (West Coast Plaza) Sheng Siong Hypermarket (Clementi 720) Fairprice (Clementi Blk 352) Giant (Clementi Avenue 5) |
0.5km 0.7km 0.9km 1.1km |
| Shopping Malls | West Coast Plaza CityVibe The Clementi Mall NEWest (U/C) Clementi Arcade |
0.5km 0.7km 0.9km 1.5km 1.8km |
| Education Institutions | Preschool | |
| PCF Clementi Blk 462A PCF West Coast Blk 728 Clementi Woods Kindergarten Darussalam Mosque Kindergarten PCF Clementi Blk 330 PCF West Coast Blk 702 PCF Bukit Timah Blk 319 PCF Bukit Timah Block 307 Little Ones Kindergarten Buttercups Kindergarten (Pasir Panjang) |
0.5km 0.5km 0.6km 0.7km 0.7km 0.7km 1.1km 1.5km 1.8km 1.8km |
|
| Primary | ||
| Clementi Primary School Pei Tong Primary School Qifa Primary School Nan Hua Primary School |
1.0km 1.0km 1.3km 1.5km |
|
| Secondary | ||
| Nan Hua High School Nus High School Of Mathematics And Science Clementi Woods Secondary School New Town Secondary School Kent Ridge Secondary School School Of Science And Technology, Singapore Clementi Town Secondary School Tanglin Secondary School Anglo-Chinese School (Independent) |
0.2km 0.3km 0.3km 0.7km 0.8km 0.9km 1.1km 1.1km 1.5km |
|
| Junior College | ||
| Anglo-Chinese Junior College | 2.1km | |
| Tertiary | ||
| Singapore Polytechnic National University Of Singapore |
1.3km 1.9km |
|
| International | ||
| International Community School Japanese Primary School Japanese Supplementary School United World College of South East Asia (Dover Campus) Waseda Shibuya Senior High School Japanese Secondary School Dover Court Preparatory School Nexus International School Singapore Japanese Kindergarten |
0.1km 0.9km 0.9km 1.3km 1.3km 1.3km 1.3km 1.6km 1.6km |
|
| Food Centre | Clementi West Street 2 Block 726 Market And Food Centre Clementi Avenue 3 Block 448 Market and Food Centre Clementi Avenue 2 Block 353 Market and Food Centre West Coast Drive Block 503 Food Centre West Coast Drive Block 502 Market Dover Road Block 33 Market And Food Centre |
0.5km 0.7km 0.8km 1.0km 1.0km 2.0km |
| Lifestyle | Taman Mas Merah Playground Clementi Stadium West Coast Green Playground Holland Grove View Playground Faber Hill Playground Republic of Singapore Yacht Club Mount Sinai Plain Playground Holland Grove View Fitness Corner Singapore Amateur Rowing Association Grove Lane Playground Henry Park |
0.3km 0.7km 1.5km 1.7km 1.7km 1.8km 1.8km 1.8km 1.9km 2.0km 2.0km |
FACILITIES and SITE PLAN
The Facilities and Site plan of new condo launch in Clementi Avenue 1 are currently seeking approval from relevant authorities. If you would like to be updated on first hand information for new Clementi Avenue 1 Condo, Please
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SINGLAND UOL VENTURE WIN TOP BID FOR LAND PARCEL IN CLEMENTI AVENUE 1 PPVC CONSTRUCTION
The Urban Redevelopment Authority (URA) under Government Land Sales (GLS) has awarded the tender for a residential site at Clementi Avenue 1 to Singland Homes and UOL Venture Investments, after the developers submitted the highest bid of $302.1 million, which translates to $6,620 psm or S$615.04 per square foor per plot ratio (psf ppr).
The tender for the 99-year leasehold site measuring 140,339 sq ft closed on 9 December 2015 after attracting six bids. With a maximum permissible gross floor area of 491,190 sq ft, the land parcel could yield 460 homes.
Located in the western region of Singapore, the site in Clementi Avenue 1 is close to the National University of Singapore (NUS), Clementi Sports Hall and Jurong Lake District, which is just one station away from Clementi MRT station.
Michael Ng, group general manager at Singapore Land and United Industrial Corporation, said that it will be a timely acquisition for SingLand as it does not have any unlaunched Singapore housing projects currently. And our stock of unsold units in projects that we have already launched is depleting.
He reckoned the Clementi site would have drawn more bids and higher prices as well if not for the stipulation of prefabricated prefinished volumetric construction (PPVC) - a modular, productivity-enhancing construction system - for the site's tender by the authorities.
This is the fourth site to be sold under the Ministry of National Development's Government Land Sales Programme with PPVC stipulated as a requirement. Some developers who are not familiar with PPVC may have shied away from this tender, said Mr Ng. Moreover, PPVC, being newly implemented here, is likely to raise a project's construction cost.
As a comparison, two state tender closings last month for private housing sites without the PPVC stipulation - along Alexandra View and Lorong Lew Lian - attracted 10 and 11 bids respectively. The top bid for each site was also in the S$300-plus million range, suggesting a comparable scale of investment as the latest Clementi plot.
Mr Ng suggested that had the Clementi Avenue 1 site not included a mandatory PPVC requirement, the top bid could have gone past S$700 psf ppr, as it did for the Lorong Lew Lian site, which is near Serangoon MRT Station. The winning bid for that land parcel - from a City Developments, Hong Leong Holdings and TID tie-up - was nearly S$710 psf ppr.
In August, a tender for a 99-year leasehold private housing site in West Coast Vale about two kilometres from the Clementi site - which also had mandatory PPVC requirement - drew just six bids. The top bid, from EL Development, was S$551.15 psf ppr.
SLP International executive director Nicholas Mak said the 11.6 per cent premium in the top bid for the Clementi housing site over that for the West Coast Vale plot reflects the former's superior location. It is closer to Clementi MRT Station, the Clementi Mall and other amenities, as well as reputed schools.
Market watchers estimate the SingLand-UOL joint-venture will break even at around S$1,100 psf for its Clementi Avenue 1 project. Said Mr Ng: We aim to sell the project at about S$1,300 psf on average, which would be quite attractive to potential buyers, given the proximity to good schools such as NUS High School of Mathematics and Science and Nan Hua High School. The project could also draw some rental demand from lecturers and foreign students.
The plan would be to launch the project before the end of 2016.
UOL's deputy group CEO Liam Wee Sin said: The development will likely comprise two 40-storey towers with about 500 units, capitalising on the extensive views to the south.
He also pointed to the limited supply of private homes in the vicinity. The housing site's proximity to Science Park, the National University Hospital, National University of Singapore and other prestigious schools will also draw interest from investors. There is a scarcity of sites with such attributes.
Summing up the latest tender result, Desmond Sim, head of Singapore and S-E Asia at CBRE Research, said: It is encouraging to see that the Singapore residential market is still a key business focus for developers. The bidders are taking a long-term view of the Singapore residential market.
Source: Business Times
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