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LOCATION MAP and AMENITIES

Amenities Near New Condo at Upper Serangoon Road- A Mixed Development

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The Facilities and Site plan of new condo (Mixed-use development) in Upper Serangoon Road are currently seeking approval from relevant authorities.

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MODERN LOOK FOR NEW BIDADARI ESTATE

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 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

BENEFITS OF MIXED DEVELOPMENTS IN SINGAPORE

Live, Work and Play – the philosophy that everyone in the world tries to attain. The ability to concentrate at work, the convenience of going home, and the availability of various recreational activities all within easy access. Who wouldn’t want this kind of lifestyle? In a busy country like Singapore, where the economy and global population has always been on the upside, it is not impossible to experience this ambitious way of living. With the rise of mixed development properties, the “live, work, play” philosophy is now made imaginable.

In a land-scarce country, addressing the concerns of creating residential properties while mixing urban livability has always been a major problem. Being able to offer homes and amenities all at the same time is not easy, but possible. With mixed development properties, residents can enjoy the convenience of having commercial spaces right where they live. From supermarket, grocery store, restaurants, pubs, retail shops, beauty salons, clothing stores and cinemas – you literally have a mall just below your unit.

Mixed-used development is a type of urban housing that combines residential and commercial spaces in one. Other services can likewise be integrated into the development such as industrial, cultural and institutional trades. Mixed developments can be a single building, city block or complex of buildings that forms a community.

Residential units plus shopping mall is the most common type of mixed development in Singapore. Usually, the shopping mall is located on the first few floors while above are the residential units. There are also mixed developments with integrated hotel rooms inside the building.

5 Benefits of Mixed Developments Singapore

Utmost convenience and accessibility are not the only advantages of mixed developments. It’s more than just a residential unit and shopping mall combined as one. While most people see mixed developments as something risky for their private life, there’s more to these properties than privacy issues. Check out their advantages below.

1. Unparalleled Convenience

Convenience at its finest is the ultimate advantage of mixed development properties. With everything you need right within reach, you don’t have to travel far from home just to fetch daily necessities. From doing your grocery to obtaining basic supplies, you can even buy a brand new shoes or shirt just by going down on your unit. Bringing retail therapy close to home has many advantages such as:

• You don’t have to strain your arms travelling with huge grocery bags on your hand.
• Restaurants and food shops within the building provides an easy access to sumptuous meals.
• Driving away from home just to visit shopping malls is virtually not needed.
• You don’t have to rush from home just to catch your favorite movie.
• You can even find a work right inside the building saving you tons of precious time and money.
• With different recreational activities within reach, it’s impossible to have a dull moment.

2. Saving Costs

There are many advantages of mixed developments, to one of which is that your expenditures will be greatly minimized. The cost of fuel is on all-time high, and by reducing the need to travel, it allows you to save a huge amount of sum. Also, you don’t have to pay parking fees and take public transport just to buy a bag of chips or frozen meats. Right within your development grounds are various stores to cater all your needs. Less travel definitely means less spending.

3. Higher Chances of Passive Income

They say that properties close to MRT stations always fetch higher rental income, but this isn’t always the case. The added benefit of having a mall just below your unit can likewise fetch high rental income. Mixed developments are attractive to tenants because of the convenience and accessibility it brings. Tenants are willing to shell out more provided that they have everything they need in just one roof. Additionally, since there are office spaces and employees within the development, it equates to unlimited supply of possible tenants.

4. Increasing Location Value

There is a common notion that mixed-used developments are only for affluent people. Why? Because most of them are priced so high that a low income Singaporean won’t be able to afford. While this might be true in some forms, it plays a huge role on increasing the intrinsic value of the district or location. With affluent people flocking the area, it significantly intensifies the reputation of the district. Attracting more wealthy spenders, it makes the area a highly “desirable” location.

5. Flexible Investment

Last but definitely not the least benefits of mixed developments Singapore is its flexibility to hold your investmentdepending on your desires. If you decide to let go of your unit, listing it on the open market is a great option. Keep in mind that a well-designed mixed-used development sitting on a great location can draw hundreds of potential buyers. Furthermore, you could sell your unit to foreigners since most of them are attracted on convenient city living. On the other hand, if you don’t want to let go of your property, there’s always a possibility of renting it out to gain valuable income.

Caveat Emptor

Behind the many benefits of mixed developments Singapore are disadvantages that buyers should be aware of. Not everything about mixed developments are wonderfully great, there are drawbacks that you need to consider such as:

• Overcrowding and high-density living
• Industrial noise from shops, pubs and restaurants
• Privacy issues with people loitering around your home
• More expensive than regular condominiums
• Possibility of parking shortage as shoppers get prioritized

Final thoughts…

We can’t deny the fact that Singapore is indeed an overcrowded country. And as the economy grows, with people coming in from all parts of the world, expect to see more mixed-used properties being developed from time to time. Before handling over that cash, consider the many benefits of mixed developments Singapore but don’t forget to ponder on its drawbacks.

The addition of having utmost convenience and accessibility to everything are the driving factors of mixed-used properties. These reasons and more makes them uniquely wonderful and practically stellar.

PRICE TRENDS FOR DEVELOPMENTS

KAJIMA DEVELOPMENT SPH HOLDINGS WON TOP BID FOR MIXED-USE DEVELOPMENT GLS CONDO LAND SITE NEXT TO WOODLEIGH MRT, BIDADARI

SINGAPORE — A mixed commercial and residential site in Bidadari estate, along Upper Serangoon Road drew strong interest from developers by the close of tender on Tuesday (June 13), with the top bid coming from media and property company Singapore Press Holdings (SPH) amounting to S$1.132 billion, data from the Housing and Development Board showed.

The 99-year leasehold site along Upper Serangoon Road, released from the Confirmed List of the Government Land Sales (GLS) programme, was originally scheduled to be launched for sale via public tender in December last year. However, the launch was deferred to March this year to allow the site requirements to be finalised for comprehensive development. The Upper Serangoon Road site sits on about 273,842 sq ft with a gross plot ratio of 3.5, and can yield an estimated 825 private homes and about 161,460 sq ft of commercial space for uses such as shops and restaurants.

The highest bid, coming from SPH units Elara 1 and Callisto 1, translated to S$1,181.07 per sq ft of gross floor area. It narrowly beat the second-best bid of S$1.118 billion, or S$1,166.24 per sq ft of gross floor area, from a group comprising Far East Civil Engineering and Sekisui House. In all, there were 12 bids, underlying the keen interest among developers seeking to replenish their land banks.

Mr Nicholas Mak, head of Research & Consultancy Department at SLP International Property Consultants, said: “As expected, this first land parcel for private homes at the new Bidadari estate was hotly contested. The Upper Serangoon Road plot is located next to Woodleigh MRT station and is the first GLS site at Bidadari to be sold by the Government.”

“The Bidadari estate is a new public housing estate envisioned to be a ‘community in a garden’ with greenery and car-light features. The development on the Upper Serangoon Road site will also include a commercial bridge across Bidadari Park Drive towards Bidadari Park, and an underpass to connect to a bus interchange in Woodleigh Village. Such positive attributes have helped to attract much interest from the developers,” he added.

Based on the top bid, the developer of this mixed development next to Woodleigh MRT Station could be aiming to launch the residential units at above S$1,700 per sq ft from late-2018 onwards, Mr Mak said, adding that if this occurs, it would set a new record price for 99-year leasehold apartments in the location.

Source: Straits Times

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