PROJECT DETAILS/ AMENITIES
The Housing and Development Board (HDB) has sold a residential site as part of Government Land Sales (GLS) in January, first quarter of 2014. This land parcel at Westwood Avenue at the West Region of Singapore is listed under the confirmed list of sites and is allocated to be developed into an Executive Condo (EC) site, Westwood Residences. It has an area of 17,284.8 square metres. with a plot ratio of 2.8 and can home approximately 400 units.
The 186,044 square feet site received a overwhelming response of 12 bidders and is awarded to a consortium of Koh Brothers Group and Heeton Holdings, at a highest bid of $198.9 million or $382 psf ppr with an estimated break-even price of $650- $720 psf.
This land parcel is bounded by Westwood Avenue and the Pan Island Expressway (PIE). It is located next to Floravale and opposite of the new and upcoming The Woods and across the Cleantech Park and sites reserved for several future developments.
New and Upcoming Westwood Avenue EC is approximately 1.7 km away from Pioneer Train Station which runs the East West Line. The train services at Pioneer Station brings residents to Boon Lay MRT Station where the Boon Lay Bus Interchange is conveniently located. 4 MRT stations journey to Jurong East MRT Station and Bus Interchange, whereby residents can transit to the North South Line. Residents who drive, it will take approximately 17 minutes’ of driving to reach the Central Business District area. From Westwood Avenue to Orchard Shopping Belt, it will need 20 minutes’ of driving. Westwood Avenue is well connected to Jalan Bahar that links to the Pan Island Expressway (PIE) and the Kanji Expressway (KJE). These expressways provides its future residents with accessibility to island wide locations. Great Connectivity.
The Jurong West Sports and Recreation Centre is a short drive where numerous indoor and outdoor sporting facilities can be found. The Jurong West Park and Jurong West Neighbourhood Park are also getaways for residents where serenity and pocket of greenery are being offered here.
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|
Project |
Westwood Avenue EC |
| Developer | Koh Brothers and Heeton Homes |
| Location | Westwood Avenue |
| District | |
| Tenure | 99 years lease from |
| Site Area | 186,053 sqft |
| GFA: | 520,950 sqft |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | |
| Total Carpark | TBA |
| Development | Executive Condominium comprising |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR |
Amenities Near New Westwood Avenue EC
| Category | Important Amenities Near New EC | Approximate Distance |
| Train Stations | Pioneer (EW28) | 1.7km |
| Bus Stop | Blk 762 (Bus: 181, 185) Blk 861 (Bus: 181, 185) |
0.4km 0.4km |
| Supermarkets | Prime (Jurong West St 75) Sheng Siong (Jurong West Avenue 5) Giant (Pioneer Mall) Fairprice (Boon Lay Shopping Centre) |
0.5km 0.9km 1.2km 1.9km |
| Shopping Malls | Gek Poh Shopping Centre Pioneer Mall Jurong Point Boon Lay Shopping Centre |
0.5km 1.2km 1.8km 1.9km |
| Education Institutions | Preschool | |
| Centre of New Life Kindergarten PCF Hong Kah North Blk 750-749 PCF Hong Kah North Blk 276D PCF Nanyang Blk 813 PCF Nanyang Blk 825 Elite Learning Kindergarten Zulfa Kindergarten PCF Boon Lay Blk 631 PCF Boon Lay Blk 262 PCF Pioneer Blk 642 |
0.5km 0.7km 0.8km 0.9km 0.9km 1.0km 1.2km 1.2km 1.5km 1.5km |
|
| Primary | ||
| Pioneer Primary School Westwood Primary School West Grove Primary School Corporation Primary School Xingnan Primary School Jurong West Primary School Frontier Primary School Juying Primary School |
0.6km 0.8km 1.0km 1.2km 1.6km 1.6km 1.9km 1.9km |
|
| Secondary | ||
| Westwood Secondary School Pioneer Secondary School Boon Lay Secondary School Yuhua Secondary School Juying Secondary School |
0.5km 0.6km 1.3km 1.9km 2.0km |
|
| Junior College | ||
| Jurong Junior College | 1.8km | |
| Tertiary | ||
| Nanyang Technological University | 1.5km | |
| International | ||
| Canadian International School (Jurong West) | 3.5km | |
| Food Centre | Boon Lay Place Market & Food Village | 2.0km |
| Lifestyle | Jurong West Park Jurong West Neighbourhood Park Jurong West Sports and Recreation Centre |
0.9km 1.6km 1.7km |
FACILITIES AND SITE PLAN
The Westwood Avenue EC 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 Westwood Avenue EC, such as the site plan, floor plans, time-line or would like to know more about progressive and deferred payment schemes, Please Register with Us
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JURONG REGION LINE
The Jurong Region Line JRL will bring greater connectivity to areas such as Jurong West, Jurong Industrail District, West Coast, Choa Chu Kang and new developments in Tengah. The Jurong Region Line JRL will connect these areas to main activity nodes in Boon Lay, Jurong East and the future Jurong Gateway.
WESTWOOD LAND PARCEL ATTRACT OVERWHELMING RESPONSE
See why the Westwood Avenue land parcel attracted an "overwhelming" response
Strong participation rate of 12 bidders explained.
The first tender closing for an Executive Condominium (EC) site, after the introduction of new measures for EC developments, continued to draw overwhelming responses with 12 bids, with land parcel for Westwood Ave EC.
The measures, which are in effect after 10 December 2013, include a cap of the Mortgage Servicing Ratio (MSR) for housing loans granted by financial institutions for EC units bought directly from property developers at 30% of a borrower’s gross monthly income and the imposition of a resale levy for second-time applicants, according to Colliers International.
Colliers assessed that the highest bid at $198.9 million submitted for the site located on Westwood Avenue is bullish by market expectations. The top bid was by a consortium of Changi Properties Pte Ltd and Heeton Homes Pte Ltd, reflecting S$382 per sq ft per plot ratio (psf ppr), which is 0.5% and 10% above the second and third highest bids, respectively.
Ms Chia Siew Chuin, Director of Research & Advisory at Colliers International, explained that the strong participation rate, as well as the close competition among the top bids, signifies that developers still believe that the EC market is undersupplied, notwithstanding the recent change in the MSR policy.
Although the Government has imposed a maximum size guideline of 160 sq m for ECs, there is no restriction on how small these units could possibly be when developed. Given the bullish top bid of S$382 psf ppr, it would not be unreasonable to expect that the developer would include a significant proportion of smaller-than-average-family-size units in a new development on the subject site to improve the price affordability of the units.
Colliers International also noted that demand could come from eligible buyers who also work in the nearby Nanyang Technological University and the industries in the Jurong West/Tuas areas, as well as upgrader demand from the HDB estates in Jurong West.
At a land price of S$382 ppr psf, the estimated break-even cost for Westwood Ave EC could range from S$650-720 per sq ft. From July to December 2013, the median price of units selling at the adjacent The Floravale is S$724 per sq ft. Hence, when units at this project are ready for launch, the selling price could start from S$800 per sq ft, said Colliers International.
Source: Singapore Business Review