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The Urban and Redevelopment Board has sold a mixed development site which comprises of residential component in Northumberland Road, under the Government Land Sales (GLS), in the 1st Half of 2020. This land parcel is bounded by Hampshire Road, Ruthland Road and Northumberland Road and is located at the Central Region of Singapore. and is allocated to be developed into private condominium.
Joing Venure CDL and MCL Land, has won the top bid of S$445 million, translating into S$1129psf ppr. New development at Northumberland Road has a site area of 41,979 square feet and will house approximately 385 residential apartments. The site will also incoporate an existing entrance to the Farrer Park MRT station, and have 1,500 square metres of commercial retail and dining establishments.
New Condo in Northumberland Road is close to the upcoming Uptown at Farrer and Farrer Square, a development which comprises of 42 premium medical suites, and also next to the Sri Srinivasa Perumal Temple.
Other developments that are located within New Condo’s vicinity include The Citron and Citron Residences (a mixed commercial and residential development), City Square Residences, Sturdee Residences, Tyrwhitt 139, Le Somme, Parc Somme, Ritz at Farrer, 28RC Suites, Jool Suites, 8 Farrer Suites, Forte Suites and Cityscape.
New Condo at Northumberland Road- A Mixed Development- Connectivity
New and Upcoming Condo in Northumberland Road is conveniently located next to the Farrer Park MRT Station serving the North East Line. Future residents of New Condo need only to take an approximate of 8 minutes to reach Dhoby Ghaut MRT Interchange which is just 3 stations away. This will allow them to easily transit to the North South Line and also the Circle Line.
New Condo at Northumberland is also just 1 station away from Little India MRT Station which its future residents can also transit to the Downtown Line. With all these conveniences, it will be easy for future residents to commute to any part of the Singapore.
New Condo in Northumberland Road is also only a short distance away from the Central Expressway (CTE) and it will take future residents to drive to the Central Business District (CBD) and Orchard Shopping belt in approximately 8 minutes and 6 minutes respectively.
New Condo is also near to the Pan Island Expressway (PIE), the Kallang Paya Lebar Expressway (KPE) and also the Nicholl Highway which makes traveling a breeze to any parts of Singapore.
New Condo at Northumberland Road- A Mixed Development- Amenities
New Northumberland Road Condo is just approximately 200 m away from City Square Shopping Mall where there are many F&B outlets, shops, supermarket and cinema can be found. For late night shopping, future residents can just take a short walk to Mustafa Centre, a mega mall which operates 24 hours, 7 days a week. Other shopping malls that are near to New Condo are Sim Lim Square, Albert Complex, Golden Mile Complex, Bugis+, Bugis Junction, Parklane Shopping Mall, PoMo and United Square Shopping Mall.
For local food, as well as fresh market produce, there are many choices for its future residents. New Condo in Northumberland Road is near to Berseh Food Centre, Pek Kio Market And Food Court Centre, Tekka Market, Bendemeer Road Block 29 Market And Food Centre, Whampoa Drive Market & Food Centre, North Bridge Road Market & Food Centre, Albert Centre Market and Food Centre, Golden Mile Food Centre, Newton Food Centre, Upper Boon Keng Road Block 17 Market & Food Centre and Geylang Bahru Block 69 Market And Food Centre.
New Condo at Northumberland Road- A Mixed Development- Education
There are many local education institutions nearby such as Farrer Park Primary School, Stamford Primary School, Hong Wen School, Saint Joseph’s Institution Junior, Bendemeer Primary School, Saint Margaret’s Primary School, Anglo-Chinese School (Junior), Balestier Hill Primary School, Bendemeer Secondary School, Balestier Hill Primary School, School of the Arts, Singapore and CHIJ Katong Convent.
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Project | Northumberlad Road New Condo |
Developer | Joint Venture CDL and MCL Land |
Location | Northumberland Road, Serangoon Road, next to Farrer Park MRT Station |
District | 08 |
Tenure | 99 years lease |
Site Area | 8,732.9 square metres/ 93,991 square feet |
GFA: | |
Plot Ratio | |
Expected TOP: | |
Total Units | Approximately 400 residential apartments |
Total Carpark | |
Development | A Mixed Development which comprises of Private condominium with communal facilities |
Unit Type: | |
Architect | |
Eligibility | SC, SPR and Foreigners can buy |
Category | Important Amenities Near New Condo at Northumberland Road | Approximate Distance |
Train Stations | Farrer Park (NE8) | 0.3km |
Bus Stop | Opp Farrer Park Station (Bus: 141) After Race Course Rd(Bus: 131, 141) |
0.1km 0.1km |
Supermarkets | Fairprice (City Square Mall) Prime (803 King George’s) Sheng Siong (108 McNair Road) Cold Storage (Bugis Junction) |
0.2km 0.8km 1.1km 1.5km |
Shopping Malls | City Square Mall Mustafa Centre Kitchener Complex The Verge Sim Lim Square Albert Complex Bugis Village Fortune Centre Bugis+ Bugis Junction Novena Square |
0.2km 0.3km 0.8km 1.0km 1.1km 1.2km 1.4km 1.4km 1.5km 1.5km 1.5km |
Education Institutions | Preschool | |
Khalsa Kindergarten PCF Moulmein Blk 10 MOE Kindergarten @ Farrer Park Foochow Methodist Church Kindergarten Kampong Kapor Methodist Church Kindergarten PCF Jalan Besar Blk 806 PCF Kampong Glam Blk 462-3 NAFA Arts Kindergarten (Derbyshire) Thomson Road Baptist Kindergarten Newton Kindergarten |
0.4km 0.4km 0.5km 0.6km 0.6km 0.8km 1.1km 1.1km 1.2km 1.6km |
|
Primary | ||
Farrer Park Primary School Stamford Primary School Hong Wen School Saint Joseph’s Institution Junior Bendemeer Primary School Saint Margaret’s Primary School Anglo-Chinese School (Junior) Balestier Hill Primary School |
0.5km 1.0km 1.0km 1.2km 1.5km 1.6km 1.6km 1.9km |
|
Secondary | ||
Northlight School Bendemeer Secondary School Balestier Hill Primary School School of the Arts, Singapore CHIJ Katong Convent |
0.7km 1.4km 1.6km 1.6km 1.9km |
|
Junior College | ||
St. Andrew’s Junior College | 2.5km | |
Tertiary | ||
Nanyang Academy Of Fine Arts Singapore Management University |
1.5km 1.8km |
|
International | ||
Insworld Institute Italian Supplementary School |
0.8km 1.4km |
|
Food Centre | Berseh Food Centre Pek Kio Market And Food Court Centre Tekka Market Bendemeer Road Block 29 Market And Food Centre Whampoa Drive Market & Food Centre North Bridge Road Market & Food Centre Albert Centre Market and Food Centre Golden Mile Food Centre Newton Food Centre Upper Boon Keng Road Block 17 Market & Food Centre Geylang Bahru Block 69 Market And Food Centre |
0.6km 0.7km 0.8km 1.2km 1.2km 1.3km 1.3km 1.6km 1.7km 1.9km 1.9km |
Lifestyle | Singapore Khalsa Association Civil Service Club @ Tessensohn Chinese Recreation Club People’s Association HQ Singapore Indian Association Jalan Besar Stadium Ceylon Sports Club Kampong Glam Constituency Sports Club St Wilfred Sports Complex Kallang Water Sports Centre Safra Clubhouse – Toa Payoh |
0.4km 0.4km 0.5km 0.6km 0.6km 0.7km 0.7km 1.4km 1.6km 1.9km 1.9km |
The Facilities and site plan of new and upcoming condo in Northumberland Road are currenctly seeking approval from relevant authorities.
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Singapore’s property market has one of the best long term returns on equity performance out of most investment instruments available.
And that has to do largely with the strength of the Singapore dollar, the availability of high leverage, and the attraction of Singapore to the international audience, not just as a region to invest in, but as an asset class on its own.
Before you embark on searching for your investment property, it is important to have gone through this checklist below.
We will advise about your finances to understand the initial cash/Central Provident Fund (CPF) outlay required.
Having an experienced third party do an assessment would help you prevent costly beginner mistakes that could seriously hamper your journey to financial freedom.
We will help you assess the minimum cash and CPF required for the down payment, buyer stamp duties, legal fees and miscellaneous costs, as well as advise you on an investment road map for the best acquisition strategy as you progress along and acquire more properties.
The current Total Debt Servicing Ratio (TDSR) framework makes it especially important for investors to check on their maximum loan eligibility so that there are no nasty surprises after placing a deposit.
In this case, this should be one of your priorities early on and we will assist you on this.
For investors who already own an HDB flat or private home and are acquiring their second property, we will advise you on the various options available to optimise tax savings (which can be significant) and qualify you for more funding options.
This is especially important for those who intend to grow their portfolio of properties and would require access to higher leverage and lower costs.
Having a clear idea of your investment goal horizon helps you narrow down the segments you should focus on; saving you precious time and energy.
Examples
– Are you investing in properties to provide a consistent source of passive income?
In this case, focus on areas with low vacancy rates and a high tenant catchment pool.
– Are you investing in properties short term to ride the market trend?
In this case, are you financially prepared to hold on in case a black swan event occurs?
– Are you investing in properties with en bloc potential?
In this case, are you well advised on which properties have genuine potential?
Not all old properties have en bloc-ability.
After going through the above points, the following are factors that have served me and my clients well in the past as an investment criteria checklist.
Northumberland Road taps into City Central Region, Singapore URA Master Plan 2014
Singapore Urban Redevelopment Authority URA Master Plan 2014 envisions some exciting developments for the whole of Singapore's central area including Tanjong Pagar, The Greater Southern Waterfront District, City Hall, Marina Bay, Suntec and Bugis-Rochor area. The new prime City Central area will be a place for the people to engage community and arts, showcase Singapore's creative and artistic expression and links to Singapore's past and future aspirations. There will be more pedestrian- friendly precincts, public spaces and parks, night lightings and trees.
City Centre at Marina Bay is a unique and dynamic waterfront district, Garden City by the Bay, extending seamlessly from the CBD and it is zoned to be
Marina South will have
Beach Road/ Ophir- Rochor will have abundant conveniences being in the heart of City.
Capitalising on Bugis and Bras Basah rich architectural and cultural heritage, URA is embarking on urban renewal efforts to transform it dramatically into Singapore's art, culture. learning and entertainment district.
From the cultural enclave of Kampong Glam to National Arts Gallery in the Civic and Cultural District to high skyscappers in Marina Bay, this growth area in New Condo at Northumberland Road, promises residents a 24/7 city lifestyle. New major landmark developments will transform the city skyline, offering prestigious address locations and spectacular views out across the city. Strategic developments with conservation buildings will continue to inject vibracy, turning it into a lively art and education place, as an emerging commercial hub that will complement Singapore financial district.
A 99-year leasehold site at Northumberland Road attracted robust interest during the close of its tender on Tuesday evening (27 April), with 10 bids received. The residential government land sales (GLS) was launched on 27 October 2020.
The 8,732.9 sq m site is zoned for residential with commercial at first storey use and could yield about 405 housing units.
Maximus Residential SG and Maximus Commercial SG (a joint venture between CDL and MCL Land) submitted the top bid of $445.888 million, while Winrich Investment submitted the second highest at $421.89 million.
Japura Development, on the other hand, offered the lowest bid of $256 million.
Alice Tan, Head of Consultancy at Knight Frank Singapore, said the top bid of almost $446 million or $1,129 per sq ft per plot ratio (psf ppr) “is 5.7% above the second highest bid of about $422 million or $1,069 psf ppr, and 74.2% higher than the lowest bid of $256 million”.
Nicholas Mak, Head of Research and Consultancy at ERA Singapore, attributed the robust tender participation rate to the diminishing private housing supply within the city-fringe area.
“The only new project that is not yet launched in the Rest of Central Region is the 388-unit Liv @ MB located in District 15,” he said.
Tan noted that the government land sales were also few and far between, while en bloc sales were practically negligible last year.
“These factors could possibly combine to create a compression point where the shortage of development land could lead to competition heating up among developers to secure available land parcels from the GLS lists,” she said.
The most recent GLS site that was sold within the vicinity was the land plot for Uptown @ Farrer on Perumal Road. The site was sold to Low Keng Huat (Singapore) Limited for $1,001 psf ppr in January 2017.
Tan said the breakeven cost for the Northumberland Road site could be between $1,800 psf and $1,900 psf, based on the $1,129 psf ppr top bid.
“As such the likely selling price for the residential units here when launch ready could start from $2,100 psf to $2,200 psf,” she said.
Mak said the 405 dwelling units is “rather manageable for most developers to build and sell all the units within five year, thus minimizing the risks of exceeding the ABSD deadline”.
Once completed, the site will benefit from the convenience of Farrer MRT station as well as the shopping options of Mustafa Centre and City Square Mall. The project will also be near integrated medical centre and hotel development Connexion.
As the first residential GLS tender to close this year, the site “would set the tone for the other two GLS tenders that will close on 25 May 2021”, added Mak.
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