PROJECT DETAILS
Bukit Sembawang Estates won the collective sales at Old Katong Park Towers in the 1st quarter 2018. This land parcel is set in the Eastern Region of Singapore, bounded by Arthur Road, Meyer Road and Mounbatten Road. It has a site area of 140,758 square feet and is located about 200 metres from the future Katong Park MRT Station, which is slated for completion in 2023.
The 99-year leasehold Katong Park Towers condo have been snapped up by property developer Bukit Sembawang Estates for S$345 million. Initially, Katong Park Towers was being put up for en bloc sale with a price tag of no less than S$288 million. Thus the closing tender price is approximately 20% more than that. Homeowners for the typical apartment units at Katong Park Towers can expect a sales proceed between S$2.25 million – S$3.23 million, while the penthouse owners can expect payout starting from S$4.95 million to a whopping S$12.08 million (for the biggest penthouse unit).
The Katong Park Towers site has a 2.1 plot ratio and the future new launch project is able to be redeveloped into a 24-storey private residential development. At the sale price of $345 million, the land rate for Katong Park Towers translates to $1,280 per sq ft per plot up to the development baseline, taking into account an estimated $60 million for the lease upgrading premium.
Other developments that are nearby New Condo at Mountabtten Road include 8M Residences, Meyer Melodia, The View @ Meyer, The Meyerise, and The Seafront On Meyer.
New Condo at Mountbatten Road- Connectivity
New and Upcoming Condo at Mountabtten Road is approximately 200 m away from Katong Park MRT Station which will start operating in 2023. As of current, New Condo at Mountabtten Road is approximately 1 km away from Mountbatten Train Station which operates the Circle Line. Future residents of New Condo at Mountbatten Road can take a short walk to Mountbatten Road which has bus services that will bring them directly to the train station. The Mountbatten Train Station is also just 2 stops away from Paya Lebar Train Interchange where the East West Train Services are easily available.
New Condo at Mountbatten Road is just a short distance to the main Mountbatten Road which links to Fort Road and the East Coast Parkway (ECP). This allows 6 minutes of drive to access to the Shenton Way from New Condo at Mountbatten Road and 7 minutes of drive to the Orchard Shopping Belt. The ECP also allows future residents to easily connect to various major expressways such as the Kallang Paya Lebar Expressway (KPE), the Pan Island Expressway (PIE) and the Ayer Rajah Expressway (AYE) which makes driving to various parts of Singpapore a breeze.
New Condo at Mountabtten Road- Amentities
New Condo at Mountabtten Road is a short drive away from Leisure Park Kallang where a wide selection of eating, shopping and leisure facilities can be found such as supermarket, food court and cinema. New Condo is also close to the upcoming malls such as the new Sports Hub Mall, Pavilion Square, The Flow and One KM (Katong Regency) where its future residents can look forward to endless choices when they are completed.
Other shopping malls that are within New Condo at Mountabtten Road vicinity include Parkway Parade, Katong Village, I12 Katong, Katong Shopping Centre and The Odeon Katong. When feeling to indulge in local delights, residents of New Condo at Mountabtten Road can drive down to any of the 6 Food Centres nearby namely, Jalan Batu Block 4A Market & Food Centre, Old Airport Road Block 51 Market & Food Centre, Kallang Estate Fresh Market & Food Centre, Dunman Food Centre, Haig Road Market & Cooked Food Centre and also 84 Marine Parade Central Market & Food Centre.
New Condo at Mountabtten Road- Education
Education facilities that are within short radius from New Condo at Montabtten Road include Kong Hwa School, Tanjong Katong Primary School, Dunman High School, Chung Cheng High School (Main), Broadrick Secondary School, Northlight School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School.
Education facilities that are within short radius from New Condo at Montabtten Road include Kong Hwa School, Tanjong Katong Primary School, Dunman High School, Chung Cheng High School (Main), Broadrick Secondary School, Northlight School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School.
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| Project | Mountbatten Road New Condo- at former site of Katong Park Towers |
| Developer | Bukit Sembawang |
| Location | 114A, Arthur Road |
| District | 15 |
| Tenure | 99 years leasehold |
| Site Area | 13,076 square metres/140,758 square feet |
| GFA: | 27,461 square metres/295,592 square feet |
| Plot Ratio | 2.1 |
| Expected TOP: | |
| Total Units | Approximatley residential apartments |
| Total Carpark | |
| Development | Residential development |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
| Mounbatten Road 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 |
| Mounbatten Road New Condo Facilities | |||
TBA
|
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| Mounbatten Road New 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 |
LOCATION and AMENITIES
Amenities Near New Condo at Mounbatten Road- at former site of Katong Park Towers
Train Stations
Mountbatten (CC7) – 1.0km
Katong Park (TE24) Thomson East Coast Line Due 2023 – 0.3km
Bus Stop
Katong Pk Twrs (Bus: 196, 12, 14) – 0.2km
Opp Santa Fe Mans (Bus: 12, 14, 196) – 0.2km
Supermarkets
Fairprice (Esso Mountbatten) – 0.6km
Cold Storage (Leisure Park Kallang) – 1.4km
Giant (Parkway Parade) – 1.9km
Sheng Siong (301 Geylang) – 1.9km
Shopping Malls
Leisure Park Kallang – 1.4km
Katong Shopping Centre – 1.5km
The Odeon Katong – 1.6km
Paramount Shopping Complex – 1.7km
Sports Hub Mall (U/C) – 1.7km
Pavilion Square (U/C) – 1.8km
City Plaza – 1.8km
Roxy Square – 1.8km
The Flow (U/C) – 1.8km
One KM (U/C) – 1.9km
Parkway Parade – 1.9km
Katong Village – 1.9km
I12 Katong – 1.9km
Tanjong Katong Complex – 1.9km
Preschool
MFC Kindergarten (Broadrick Road) – 0.2km
Schoolhouse By The Bay – 0.5km
PCF Mountbatten Blk 14 – 0.9km
PCF Mountbatten Blk 51 – 1.0km
White Lodge Kindergarten (East Coast) – 1.4km
Chen Li Kindergarten – 1.5km
Jamiyah Kindergarten – 1.6km
Saint Hilda’s Church Kindergarten – 1.7km
PCF Geylang Serai Blk 9 – 1.9km
Kinderland Preschool (Marine Parade) – 1.9km
Primary School
Kong Hwa School – 1.3km
Tanjong Katong Primary School – 1.5km
Secondary School
Dunman High School – 0.7km
Chung Cheng High School (Main) – 0.7km
Broadrick Secondary School – 0.9km
Northlight School – 1.0km
Tanjong Katong Girls’ School – 1.2km
Tanjong Katong Secondary School – 1.4km
Junior College
Dunman High School – 0.7km
Tertiary
Nanyang Academy Of Fine Arts – 4.2km
International School
Canadian International School (Tanjong Katong Campus) – 1.2km
Chatsworth International School East Campus – 1.2km
Singapore Korean School – 1.5km
Food Centre
Jalan Batu Block 4A Market & Food Centre – 0.6km
Old Airport Road Block 51 Market & Food Centre – 1.0km
Kallang Estate Fresh Market & Food Centre – 1.0km
Dunman Food Centre – 1.8km
Haig Road Market & Cooked Food Centre – 1.9km
84 Marine Parade Central Market & Food Centre – 2.0km
Lifestyle
East Coast Park – 0.7km
Singapore Swimming Club – 0.9km
Kallang Cricket Ground – 1.1km
Kallang Netball Centre – 1.2km
Kallang Squash & Tennis Centre – 1.2km
Singapore Indoor Stadium – 1.6km
New Sports Hub (U/C) – 1.7km
Geylang Stadium – 1.7km
The Eurasian Association – 1.7km
Marina Bay Golf Course – 1.9km
FACILITIES and SITE PLAN E-BROCHURE
The Facilities and Site plan of new condo launch at Mounbatten Road are currently seeking approval from relevant authorities.
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KATONG PARK TOWERS SOLD EN BLOC TO BUKIT SEMBAWANG FOR FUTURE CONDO REDEVELOPMENT
SINGAPORE - The obscene windfall an enbloc sale can bring to lucky homeowners can best be exemplied by the sale of Katong Park Towers, a 99-year leasehold condominium that has seen better days.
The owner of the biggest penthouse in the development will rake in a cool $12.08 million after a unit of Bukit Sembawang Estates bought the estate for $345 million following a competitve tender.
There are altogether five penthouses and these owners can expect to received proceeds ranging from $4.95 million to $12.08 million. Other owners will receive proceeds ranging from $2.25 million to $3.23 million, depending on their floor area and size.
The sale price was some 20 per cent above the reserve price of $288 million.
The tender attracted a total of 10 bids and all were above the reserve price.
Katong Park Towers, which comprises 111 standard apartments, five penthouses and two commercial units, sits on a land area of 140,758 sq ft.
It is located about 200 metres from the future Katong Park MRT Station, which is slated for completion in 2023.
According to Singapore's 2014 Master Plan, the site is zoned "residential", with a plot ratio of 2.1 and a maximum building height of up to 24 storeys. The site is not affected by any traffic impact study.
The recent increase in development charges in this precinct has minimal impact on the price as Katong Park Towers has a fairly high baseline.
At the sale price of $345 million, the land rate for Katong Park Towers translates to $1,280 per sq ft per plot up to the development baseline, taking into account an estimated $60 million for the lease upgrading premium.
Mr Ng Chee Seng, CEO of Bukit Sembawang Estates said: "We are pleased to be awarded this coveted residential address in a prime district. Our planned development is nestled in low-rise landed houses along Meyer & Mountbatten Road, and will offer rare, unobstructed panoramic views of the city skyline.
"We see good potential in this site because it is well-connected to the future Katong Park MRT Station. With Katong's rich heritage and rejuvenation initiatives under the Kallang Masterplan, we are confident that this will be another quality development added to our portfolio."
Source: Straits Times 16th March 2018
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