PROJECT DETAILS
UVD (Projects) a joint venture between UOL Group and United Industrial Corporation (UIC) won the collective sales at Raintree Gardens in the 4th quarter 2016. This land parcel is set in the Central Region of Singapore, bounded by Potong Pasir Avenue 3 and Potong Pasir Avenue 1, overseeing Sungei Kallang River. It has a site area of 201,405 square feet and is expected to house between 600 and 748 residential apartments.
A joint venture UVD (Projects) between UOL Group and UIC Industrial Corporations won the top bid of S$334.2 million. The estimated break-even amount is approximate S$1250 psf ppr that include the premium to top up the lease a fresh 99 years and for the redevelopment of the site to a plot ratio of 2.8.
Other developments within the vicinity include The Poiz Residences, The Venue Residences, Nin Residences, Sennett Resideneces and Sant Ritz.
New Condo at Potong Pasir Avenue 1- Connectivity
New and upcoming Potong Pasir Avenue 1 Condo has good aceessibility to Potong Pasir and Woodleigh MRT Stations where future residents can be served by the North- East Line. When travelling to various part of island and to downtown Singapore, residents can travel by Central Expressway (CTE), Kallang Expressway (KPE) and Pan Island Expressway (PIE) and it takes residents approximately 10 minutes to travel to Central Business District CBD and 12 minutes to Orchard Shopping Belt.
New Condo at Potong Pasir Avenue 1- Amenities
There are many market and food centre nearby Potong Pasir Avenue 1 Condo. Future residents can choose to go Geylang Bahru Block 69 Market And Food Centre, Joo Seng Food Place, Bendemeer Road Block 29 Market And Food Centre, Lorong 7 Toa Payoh Block 22 Food Centre & Market, Upper Boon Keng Road Block 17 Market & Food Centre, Whampoa Drive Market & Food Centre, Sims Vista 49 Market And Food Centre, Lorong 4 Toa Payoh Block 74 Market And Food Centre, Lorong 5 Toa Payoh Block 75 Food Centre and Lorong 8 Toa Payoh Block 210 Market And Food Centre.
New Condo at Potong Pasir Avenue 1- Education
New Potong Pasir Avenue 1 Condo is close to reputable schools. St Andrew is one of the reputable school which allow your child to continue the education from Primary school to Junior College. The other school in the vicinity are Cedar Primary and Secondary, Bendemeer Primary and Secondary, Macpherson Primary, Maris Stella High (Primary and Secondary), Hong Wen, Pei Chun Public, First Toa Payoh Primary , First Toa Payoh Secondary, Bartley Secondary and Saint Gabriel’s Secondary.
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| Project | Potong Pasir Avenue 1 New Condo at former site of Raintree Gardens |
| Developer | UVD (Projects) UOL Group and UIC Corporation (SingLand Homes) |
| Location | Potong Pasir Avenue 1 |
| District | 13 |
| Tenure | 99 years lease |
| Site Area | 18,711 square metres/ 201,405 square feet |
| GFA: | |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately between 700 residential apartments |
| Total Carpark | |
| Development | Private condominium comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigners can buy |
| Potong Pasir New Condo Unit Mix Distribution | |||
|---|---|---|---|
| Unit Type | Type | Area (Square Feet) | Total No. of Units |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
| Potong Pasir Ave 1 Condo Facilities | |||
TBA
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| Potong Pasir Ave 1 Condo Price List | |||
|---|---|---|---|
| Unit Type | Area (Square Feet) | Pricing | PSF |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site plan of new condo launch in Potong Pasir Avenue 1 are currently seeking approval from relevant authorities.
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MODERN LOOK FOR NEW BIDADARI ESTATE
NEW BIDADARI HOMES TO SIT AMID LUSH GARDENS
Bidadari Estate is planned as a tranquil urban oasis, where residents can relax and connect with family and friends in a garden-like setting. Envisioned as “A Community in a Garden”, Bidadari Estate will feature a centrally-located 10ha Bidadari Park, which will connect to a Central Green Spine. Bidadari Park is well-connected to the residential estates through pockets of open spaces. Part of the tree-lined Upper Aljunied Road (from Upper Serangoon Road to Vernon Park) will be converted into a heritage walk for pedestrians.
Bidadari Estate will be pedestrian and cyclist friendly, with seamless connections between transport nodes, the park and commercial developments. To provide for the needs of new and existing residents, Bidadari Estate will feature a wide range of amenities including a new commercial development next to Woodleigh MRT station. A bus interchange, neighbourhood police centre and other community facilities will be located nearby. Other amenities such as places of worship and health and medical care facilities are also planned for the estate.
The upcoming housing estate will feature lush greenery and social spaces, in line with the area's vision of being "a community in a garden".
Residents in the area will be able to visit a nearby market square and walk around a scenic park and lake.
The 10ha Bidadari Park will house the new Alkaff Lake, named after the Arab family that built the Alkaff Lake Gardens in the area in 1929.
BIDADARI HOUSING ESTATE TO HAVE FIRST BUS INTERCHANGE UNDERGROUND
The new Bidadari housing estate will be home to Singapore's first underground air-conditioned bus interchange below Housing Board flats.
The new interchange next to Woodleigh MRT station, expected to be ready by 2019, will cater to five bus services.
It will be "tucked away and hidden from the street view", sitting below a carpark and neighbourhood garden flanked by blocks of flats, according to the HDB's plans seen by The Straits Times.
Other plans to modernise Bidadari have been announced in the past couple of years for the area that was once Singapore's largest grave site. These include an underground service reservoir, a 10ha park and a lake within the park.
The future Bidadari estate will lay claim to a unique feature - Singapore's first underground service reservoir built on low, instead of high, ground.
Holding enough water to fill three Olympic-size pools, the tank will be built beneath the town's planned park to save on surface space and keep the surroundings unmarred.
The land above it will be "integrated with the surrounding park amenities, hence optimising land", PUB has said, adding that high ground available for service reservoirs is "limited".
LAKE ALKAFF
PRICE TRENDS FOR DEVELOPMENTS
JOINT VENTURE UOL-UIC BUYS EN-BLOC FORMER HUDC ESTATE RAINTREE GARDENS AT POTONG PASIR AVENUE 1 TOP BID
The 175-unit Raintree Gardens residential development at Potong Pasir has been sold collectively to UVD (Projects), a joint venture company of UOL Group and United Industrial Corporation (UIC), said marketing agent JLL.
The sale price of $334.2 million which is higher thatn the reserve price of S#315 million, works out to a land cost of about $797 psf per plot ratio on the potential gross floor area, inclusive of an estimated differential premium payable to the state to top up the lease to a fresh 99 years, and for redevelopment of the site to a gross plot ratio of 2.8. The 201,405 sq ft plot, next to Kallang River and near Potong Pasir MRT station, has just over 70 years of lease left. It is zoned for residential use with a 2.8 plot ratio.
Property experts had said the owners could get over S$315 million, or about $1.89 million per unit, which is subject to certain conditions being met, including an order of sale by the Strata Titles Board or High Court.
Built in the late 1980s by the Housing and Urban Development Company (HUDC), the river-fronting Raintree Gardens comprises two 12-storey mansionette blocks and one seven-storey mansionette block. It was privatised in 2014.
The site is zoned residential under the 2014 Master Plan and could be redeveloped into a 600 to 748-unit waterfront condominium.
“The sale of Raintree Gardens brings the total value of successful en bloc sales in Singapore this year to $1 billion, with this being the third sale for the year,” said Karamjit Singh, International Director and Head of Residential at JLL.
“Earlier in May, JLL sold the 358-unit Shunfu Ville for $638 million, while the 14-unit Harbour View Gardens was sold in August for $33.25 million.”
UOL said the purchase by UVD (Projects) will be funded by bank borrowings and internal resources. UVD (Projects) is the joint venture between UOL unit, UOL Venture Investments, and Singland Homes, a subsidiary of developer UIC.
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