PROJECT DETAILS
** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a Resale HDB, BTO or a new launch EC, let us discuss your best possible option.
** EXISTING HDB OWNERS: If you are planning to change to another property, and would like to know whether to buy a EC or private condominiums, let us help you to assess your best possible options to get better returns on your dollars. We do not want to under-leverage on ourselves.
The Housing and Development Board (HDB) has sold 2 residential sites as part of Government Land Sales (GLS) in Sengkang.This land parcels are bounded by Anchorvale Street, Anchorvale Crescent and Sengkang East Road, at the North-East Region of Singapore, are listed under the confirmed list of sites and are allocated to be developed into an Executive Condominium (EC) site. It has a site area of 187,833 square feet of land and can home approximately 525 apartment units.
Phoenix Real Estate/ SingHaiYi won the top bid of S$192.89 million, translating to S$366.91 per square feet plot ratio of land.
Sim Lian Land won the top bid of S$157.80 million, translating to about S$280 per square foot per plot ratio for this plot of land.
This plot of land is approximately 100 m away from Cheng Lim LRT Station which links future residents to Sengkang Town Centre, approximately 1 km away, where the Sengkang North East Line Train Station and the Sengkang Bus Interchange is located. The North East Line connects its residents to Downtown with less than 20 minutes.
New Anchorvale Street EC residents has good connectivity to the the Cheng Lim LRT Station, which is 100 metres away, will provide its future residents with transit services seamlessly linked to the Sengkang North East Line Station and Bus Interchange at Sengkang Town Centre. This integrated public transport system provides New Anchorvale Crescent EC’s future residents fast and convenient travel to Downtown Singapore and to the rest of the island. The nearby Tampines Expressway TPE offers New EC’s residents a conduit of convenience to driving to parts of Singapore. It also make possible for New Anchorvale Stree EC’s residents to drive to downtown Central Business District CBD, City Centre and Orchard Road shopping belt in approximately 18 minutes.
Compass Point, located at the Sengkang Town Centre, provides New Anchorvale Crescent EC’s residents of getting their dining, shopping and entertainment needs. Alternatively, there is also options of the nearby Rivervale Mall, Rivervale Plaza and Fernvale Point. When it comes to cheap and yummy local food, There is also Kopitiam Square which is located just next to Compass Point. It is the 1st modern market and food centre located in Sengkang. This 24 hours wet market cum food centre offers economical and delicious local delights and fresh market products to Sengkang residents.
There are numerous established educational institutions within short radius and they include, Compassvale Primary School, Springdale Primary School, Nan Chiau Primary School, Punggol Green Primary School, Anchor Green Primary School, Seng Kang Primary School, Rivervale Primary School, North Spring Primary School, Palm View Primary School, North Vista Primary School, Mee Toh School, Edgefield Primary School, Punggol View Primary School, Compassvale Secondary School, Nan Chiau High School, Edgefield Secondary School, CHIJ Saint Joseph’s Convent, Seng Kang Secondary School, Punggol Secondary School and Greendale Secondary School.
Besides all these amenities, this land parcel is near to several recreational chioces. New Anchorvale Street EC is near to Sengkang Sculpture Park and Sengkang Riverside Park which offering pockets of greenery, promenade, cycling track water sports and various outdoor activities for New EC’s future residents enjoyment. Future residents can also experience tranquility in the parks. The Sengkang Sports & Recreation Centre, that is next to Sungei Punggol, host many sporting facilities which New EC’s residents can make use of. There is also a community centre right in Sengkang Sports & Recreation Centre which organized many lifestyle and recreation activities and events which New EC’s residents can participate in.
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| Project | Anchorvale Street EC |
| Developer | Sim Lian Land |
| Location | Anchorvale Street/ Anchorvale Crescent/ Sengkang |
| District | 19 |
| Tenure | 99 years lease from |
| Site Area | 187,833 square feet/17,450 square metres |
| GFA: | |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Approximately 525 residential apartments |
| Total Carpark | TBA |
| Development | Executive Condominium comprising communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/ SPR |
LOCATION and AMENITIES
Amenities Near New Anchorvale Street EC
| Category | Important Amenities Near New EC | Approximate Distance |
| Train Stations | Cheng Lim LRT (SW1) Sengkang (NE16) |
0.1km 0.6km |
| Bus Stop | Blk 261 (Bus: 43, 83, 109, 119) Opp Blk 261 (Bus: 43, 83, 109, 119) |
0.2km 0.2km |
| Supermarkets | Prime (Compassvale 263) Cold Storage (Compass Point) Fairprice (Rivervale Mall) Giant (266 Compass Bow) |
0.3km 0.5km 1.3km 1.7km |
| Shopping Malls | Compass Point Rivervale Mall Rivervale Plaza Fernvale Point |
0.5km 1.3km 1.5km 2.0km |
| Education Institutions | Preschool | |
| PCF Punggol Central Blk 262A PCF Punggol Central Blk 292B Sengkang Methodist Children Centre Mahad Al-Nasry @ Sengkang Kindergarten St. Anne’s Church Kindergarten PCF Punggol Central Blk 231-232 PCF Punggol Central Blk 206A-206D PCF Punggol North Blk 105D PCF Punggol East Blk 124A-124 PCF Punggol West Blk 303A |
0.2km 0.5km 1.0km 1.0km 1.0km 1.1km 1.1km 1.3km 1.3km 1.5km |
|
| Primary | ||
| Compassvale Primary School Springdale Primary School Nan Chiau Primary School Punggol Green Primary School Anchor Green Primary School Seng Kang Primary School Rivervale Primary School North Spring Primary School Palm View Primary School North Vista Primary School Mee Toh School Edgefield Primary School Punggol View Primary School |
0.5km 0.5km 0.6km 0.8km 1.0km 1.0km 1.2km 1.4km 1.4km 1.5km 1.6km 1.6km 1.6km |
|
| Secondary | ||
| Compassvale Secondary School Nan Chiau High School Edgefield Secondary School CHIJ Saint Joseph’s Convent Seng Kang Secondary School Punggol Secondary School Greendale Secondary School |
0.7km 0.9km 1.1km 1.1km 1.2km 1.8km 2.0km |
|
| Junior College | ||
| Serangoon Junior College | 3.6km | |
| Tertiary | ||
| Nanyang Polytechnic (NYP) | 5.4km | |
| International | ||
| Chatsworth Kindergarten | 3.0km | |
| Food Centre | Kopitiam Square Punggol Food Centre (U/C) |
0.5km 1.5km |
| Lifestyle | Sengkang Sculpture Park Sengkang Riverside Park Sengkang Sports and Recreation Centre |
0.4km 0.7km 0.8km |
FACILITIES AND SITE PLAN
The Anchorvale Street EC at Sengkang Facilities and Site plan is currently under finalisation and seeking approval from relevant authorities. If you would like to be updated on first hand information for The Anchorvale Street EC or would like to know more about progressive and deferred payment schemes, Please Register with Us
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SENGKANG OVERVIEW
Sengkang is a sub-urban town in the north-eastern part of Singapore. The town is bounded by the Tampines Expressway (TPE) to the north, Sungei Serangoon (Serangoon River) to the east, Buangkok Drive to the south and Jalan Kayu to the west. Sungei Punggol (Punggol River) cuts through the new town, and divides the town into Sengkang East and Sengkang West.
A new industrial area, 'Sengkang West Industrial Area', is to be built to the west of Jalan Kayu in the near future, bounded by a road which is estimated to be completed this year. The new road, Sengkang West Road, begins where Yio Chu Kang Road and Jalan Kayu intersect, passes through the Fernvale neighbourhood, cuts through TPE across the proposed Seletar Aerospace Flyover and links to the future upgraded Seletar Aerospace Park.
Sengkang is well connected to other parts of the island with the North East MRT Line (NEL) at Sengkang MRT Station and Sengkang LRT that have direct access to Sengkang Bus Interchange which provide residents with convenient public transport.
Anchorvale Street EC Sengkang: Shopping and Amenities
- Compass Point
- Seletar Mall
- Greenwich V
- Rivervale Plaza
- Rivervale Mall
- Sengkang Community Hub (Sengkang Post Office, Singhealth Polyclinic, Sengkang C.C)
Anchorvale Street EC Sengkang: Good connectivity and Accessibility
- 1 MRT stop to Punggol Town Centre- Upcoming S$1 Billion Mega Mall cum residential/ Horse Riding
- 2 MRT stop to Hougang Mall and Bus interchange
- 3 MRT stops to Heartland Mall and Bus Interchange, Kovan Market and Food centre
- 4 MRT stops to Serangoon MRT Interchange which serves Circle Line, Bus interchange, NEX mega mall
- For vehicle owners, it will take less than 30 minutes drive to Tampines Regional Centre, Changi Business Park, Changi Airport and vibrant Orchard Road shopping district. Island wide connectivity via Tampines Expressway TPE, CTE, and SLE.
Anchorvale Street EC Sengkang: Enhancements on Road System
- The completion of Sengkang West Road to ease the traffic to Seletar Aerospace Park and Sengkang West Industrial Estate
- Widening and expansion of CTE/ SLE/ TPE/KPE, between Jalan Kayu flyover and Punggol West Flyover and construction of road between TPE and Yishun Ave 6
Anchorvale Street EC Sengkang: Well designed and support in recreation
- Sengkang Sports and Recreation Centre- Sitted on a 4 hectares of land besides Sungei Punggol and houses a community club and features sports facilities including 4 swimming pools
- Sengkang Riverside Park- The park has unique water features , a constructed wetland that collects and filters rain waters naturally through its aquatic plants. The wetland doubles as a wildlife habitat and attracts many mangrove birds nto the park such as purple heron, collared kingfisher and little tern.
- Sengkang Sculpture Park- For leisure in the park and sculptural playground.
- Sengkang Hockey Stadium- State of art hockey pitches. Held 2010 Youth Olympics Games.
- Enjoy jogging, cycling via the scenic North Eastern Riverine Loop
- Marina Country Club
- Seletar Country Club
Anchorvale Street EC Sengkang: Health-care and well being
- Future Sengkang General and Community Hospital (targetting 2018)
Anchorvale Street EC Sengkang: Education
- Renowned Nan Chiau Primary / High School
- Sengkang Primary / Secondary School
- Rivervale Primary School
- Springdale Primary School
- Compassvale Primary / Secondary School
- CHIJ Saint Joseph’s Convent
Anchorvale Street EC Sengkang: Future potential and Demand
- Sengkang General Hospital by 2020
- Seletar Aerospace Park
- Sengkang West Industrial Park
HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE
Owners of Executive Condominiums (EC) stand a huge capital potential appreciation in due of the low entry price to purchase a unit compared to private condominiums.
After a period of 10 years, the EC will be privatised, changing its status to be on level to a private condominium. Foreigners will be able to purchase the unit then. Owners typically enjoy a capital gain after their EC is privatised.
The above table shows a significant increase in capital appreciation for EC owners.
Purchasing an EC is extremely promising as we may look into such capital appreciation after it becomes privatised over time.
As the entry price for an Executive Condominium (EC) is much lower than a private condominium, demand for ECs has been on the rise. New EC units are generally 15-30% cheaper than private condominiums. In addition, first timer are entitled to receive a CPF Housing Grant of up to S$30,000. These make EC an extreme worthwhile asset to purchase.
Physical features are similar when comparing between a new executive condominium with a private condominium. This include facilities such as gym, clubhouse, security guard, tennis court, swimming pool and many more.
Residents will look into a long term investment with high profit margin.
When doing a comparison between an executive condominium and private condominium, we know that both EC and private condominiums offer the same features such as swimming pool, gym, tennis court and many more,
As resale executive condominiums are typically larger in space comparing to its counterpart and with a lower entry price, demand has increased for the resale ECs. This has led to a narrowing of price gap.
Owners of resale ECs have profited greatly in the market with their low entry price and they had enjoyed the bigger space and same facilities.
ANCHORVALE EC IN SENGKANG LAND SITE BID LOWEST SINCE 2011
A bid of $157.8 million - or $280 per sq ft (psf) per plot ratio (ppr) from developer Sim Lian Group for an Anchorvale Crescent plot was accepted on Thursday, potentially pricing the new project well below neighbouring ECs, consultants said.
The site can yield 525 homes.
The top offer beat only two other contenders and was the lowest tabled for an EC site since July 2011 - a reflection of the cautious mood among developers amid weakening market conditions.
Market watchers noted that the tender's results were released about 12 working days after the bidding closed, a departure from the usual practice of five days.
Mr Nicholas Mak, executive director at SLP International, reckoned that the 1.75ha plot site's reserve price, which is kept secret, could have been adjusted to reflect the bidders' assessment of the site's value.
The Housing Board said yesterday: "It is not solely based on the tender price meeting the reserve bid price for state land."
Factors like compliance with tender specifications are also considered, it noted.
There have been 13 EC developments - or 7,149 units - launched in Punggol and Sengkang since 2010. Sales at recently launched projects have been tepid, with The Amore in Edgedale Plains moving about 80 of 378 units at its opening last month.
At Bellewaters, an EC also in Anchorvale Crescent, 195 of 651 units have been sold since its launch in November.
The break-even price for the Sim Lian project is expected to be between $600 and $660 psf, said analysts, which gives the developer room to "undercut" selling prices of nearby ECs.
Sim Lian's bid was 24 per cent lower than the $367 psf ppr that developer SingHaiyi paid for a neighbouring site which will accommodate The Vales EC.
Qingjian Realty shelled out $331 psf ppr for its Bellewaters EC site - 18 per cent higher than Sim Lian's bid.
Mr Ong Teck Hui, national director of research and consultancy at JLL, said: "If EC buyers think that a nearby new project could come onto the market at lower prices, they might prefer to wait... This could slow the sales of other EC projects that are being actively marketed."
Mr Mak said of SingHaiyi and Qingjian Realty: "The other two developers would be very worried." Demand for ECs in Punggol and Sengkang, he added, could have already been met and it could take some time for the market to absorb the unsold units.
Based on the break-even price, Sim Lian could price its units between $700 and $750 psf.
Units at Bellewaters and The Terrace have sold for an average of about $810 psf.
Mr Ong Kah Seng, director of R'ST Research, noted that values of ECs in the vicinity could be hit "slightly", as developers might have to cut prices to beat the competition from existing projects.
Since 2010, average prices of ECs have crept up from $700 psf and peaked at a high of $800 psf last year, as competition for EC sites shored up land values.
But Mr Mak pointed out that Thursday's tender could be a harbinger of more bids sinking below the $300 psf ppr mark. A tender for a Woodlands Avenue 12 EC site will close next Thursday, while a plot in Choa Chu Kang Avenue 5 will hit the market in May.
Source: Asia One
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