PROJECT DETAILS
Parkway Mansion, located along Amber Road, Eastern Region of Singapore was sold to Consortium Sustained Land for S$146.99 million. Parkway Mansion has a land area of 38,975 sqft freehold land site has a plot ratio of 2.8 and it may be redeveloped to accommodate a high-rise apartment development.
Parkway Mansions is a freehold development and has a plot ratio of 2.8. The sale price of S$146.99 million and an estimated development charge of about S$21 million translate to a land rate of S$1,536 psf per plot ratio. The development charge is payable to the state for the intensification of land use.
Other developments that are located in the vicinity of the new stie at Parkway Mansion include Casa Meyfort, Hawaii Tower, The Seafront on Meyer, The Makena, Peach Garden, Aalto and also the upcoming Amber Skye.
New Condo in Parkway Mansion has an attractive and centralised location as it is close proximity to Central Business District (CBD) and Orchard Shopping Belt. It takes drivers approximately 10 minutes drive to the CBD.
New Condo Launch En-Bloc at Parkway Mansion- Connectivity
New and Upcoming Condo at Parkway Mansion is just approximately 100 m away from the upcoming Tanjong Katong MRT Station which will start operating in 2023. As of now, New condo at Parkway Mansion is approximately 1.6 km away from Datoka Train Station which operates the Circle Line service. The downtown financial district is approximately 7 minutes’ drive away while the Orchard Shopping Belt will take around 8 minutes of driving. New Condo at Amber Park is also well linked to various expressways namely the East Coast Parkway (ECP), the Pan Island Expressway (PIE) and the Kallang Paya Lebar Expressway (KPE) which provides seamless driving to various parts of Singapore.
New Condo Launch- En-Bloc at Parkway Mansion- Amenities
There are numerous retail, eating, leisure and entertainment facilities within the vicinity of New Condo at Parkway Mansion. Within a few minutes’ walk from new condo Parkway Mansion, there are wet market, food centre and retail outlets which are hosted at the Marine Parade Central. There are also numerous useful amenities such as F&B outlets and supermarket that at 112 Katong which is approximately 300 m away. Parkway Parade, a popular shopping mall with those living around East Coast is also just a stone’s throw way. There also many local foods stalls which serve up yummy local delicacies situated at 84 Marine Parade Central Market & Food Centre, Dunman Food Centre, Marine Terrace Block 50A Food Centre, Haig Road Market & Cooked Food Centre, Geylang Serai Market & Food Centre and Old Airport Road Block 51 Market & Food Centre which are less than 2 km away from New and Upcoming Condo at Parkway Mansion.
New Condo Launch- En-Bloc at Parkway Mansion- Education
Local school such as Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High School (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Broadrick Secondary School and Tanjong Katong Secondary School are also located within short distance from new condo at Parkway Mansion.
The site of Parkway Mansion has a central location being in the Rest of Central Region of Singapore, with good connectivity with only a short walking distance to the future Tanjong Katong MRT Station, proximity to good schools and sea views around them make both excellent choice for both own-stay and investments.
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| Project | New Condo at former site of Parkway Mansion |
| Developer | Sustained Land |
| Location | Amber Road |
| District | 15 |
| Tenure | Freehold |
| Site Area | square metres/ square feet |
| GFA: | |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately residential apartments |
| Total Carpark | |
| Development | Condo comprising of couumnal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
LOCATION and AMENITIES
Amenities Near New Condo at Laguna Park
| Category | Important Amenities Near Laguna Park | Approximate Distance |
| Train Stations | Bedok (EW5) Sigalp (TE28) due 2023 |
1.7km 0.4km |
| Bus Stop | Siglap Link (Bus: 36, 401) Victoria School (Bus: 31, 36, 43, 48, 55, 135, 155, 196, 196E, 197, 401, 853C) Opp Mandarin Gardens (Bus: 36, 55, 135, 155, 401) |
0.1km 0.2km 0.2km |
| Supermarkets | Fairprice (934 East Coast Road) Cold Storage (Siglap V) Prime (18 Bedok South) Sheng Siong (Bedok Central 209) |
0.6km 0.7km 1.7km 1.9km |
| Shopping Malls | Siglap Shopping Centre Bedok Point |
0.7km 2.0km |
| Education Institutions | Preschool | |
| Kampung Siglap Mosque Kindergarten Mandarin Gardens Kindergarten Modern Montessori Kindergarten Good Shepherd Convent Kindergarten Zoo-Phonics Kindergarten LittleSparks Montessori Kindergarten Holy Grace Kindergarten Bethesda (Katong) Kindergarten Nafa Arts Kindergarten Kits4Kids Kindergarten |
0.2km 0.3km 0.5km 0.7km 0.8km 1.3km 1.5km 1.5km 1.6km 1.7km |
|
| Primary | ||
| Ngee Ann Primary School Opera Estate Primary School St. Stephen’s School Tao Nan School CHIJ (Katong) Primary School |
1.1km 1.4km 1.6km 1.8km 1.9km |
|
| Secondary | ||
| Victoria School CHIJ Katong Convent Saint Patrick’s School St. Anthony’s Canossian Secondary School |
0.1km 1.2km 1.2km 1.7km |
|
| Junior College | ||
| Victoria Junior College Temasek Junior College |
0.9km 1.5km |
|
| Tertiary | ||
| Temasek Polytechnic | 4.2km | |
| International | ||
| Sekolah Indonesia Singapura Global Indian International School (East Coast Campus) |
0.4km 1.2km |
|
| Food Centre | East Coast Lagoon Food Village 50A Marine Terrace Food Centre Bedok South Road Block 16 Market and Food Centre New Upper Changi Road Block 207 Food Centre |
0.9km 1.3km 1.6km 2.0km |
| Lifestyle | East Coast Park Elite Terrace Park |
0.4km 1.0km |
FACILITIES and SITE PLAN
The Site and Floor plans of new condo launch in Parkway Mansion, are currently seeking approval from relevant authorities.
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RESIDENTIAL FLOOR PLANS
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THOMSON EAST COAST MRT LINE TO BE COMPLETED IN 2024
On August 15, 2014, the LTA announced that the southern end of the Thomson Line which serves the North South corridor will be extended eastwords to form the new TEL MRT line. In Singapore, the proximity to an MRT station helps to sell properties. The 13km East coast stretch will bring MRT travel to areas not currently served by the MRT system and increased connectivity to the East will be brought about by a 2.2km, 2-station extension of the Downtown Line (DTL) to join DTL To TEL. Here are some points about TEL:
- Consists of the 22 station Thomson Line along the N-S corridor and the 9 station Eastern Region Line
- Seamless connection from Woodlands in the North to the East Coast
- Fully underground
- Benefits of sscale, operational efficiency and common systems and trains
- Total Length 43km
- Total cost of S$24 billion, 6.8 billion for the Eastern Region Line
- Total of 31 stations
- Scale similar to N-S line and Downtown line
- 7 private properties acquired
- 7 interchanges
- Expected traffic - 500k passengers daily, increasing over time to 1mil daily
- Alternative to E-W line for some commuters
- Eastern end of the DL line to be linked up to TEL with the addition of 2 new stations
- Downtown Line 3 extension (DTL3e) - 2.2km
- Access to Changi Business Park and Expo areas
- Travelling time saved (now served by MRT or MRT+Bus):
- East coast to Orchard, 45mins instead of 75mins, saving 30mins
- Woodlands to Marine parade, 1 hr, currently not possible by MRT, 80mins by bus
- Marine parade to Shenton Way, 20mins instead of 40mins, 20mins saving
- Marine parade to Jurong East, 50mins (via TEL, EWL) instead of 65mins, save 15mins
- Upper East Coast to Ang Mo Kio, 45mins instead of 60min, save 15mins
- New combined MRT and bus depot to be built next to the existing Changi Depot
- Capacity for 220 trains from TEL, E-W and DTL lines and 550 buses
- 36-hectares, multistorey
- Combining and having several storeys saves 44 hectares
- Existing depot to be demolished
- East Region Line
- 16km long
- Serves new areas such as Siglap, Marine Parade, Upper East Coast and Bedok South
- Construction of the Eastern Region Line to start in 2016.
- First 7 stations - Tanjong Rhu to Bayshore - to be ready by 2023.
- Last 2 stations of the Eastern Region Line - Bedok South and Sungei Bedok to Tanjong Rhu to be ready by 2024
- Singapore's first underground bicycle parks
- Marine Parade, Marine Terrace, Bayshore and Sungei Bedok Stations
- More bicycle parts at all future stations
Quick Milestones:
- 2019 - 3 stations on the NEL line gets connected to the N-S Line at Woodlands MRT
- 2020 - 6 new stations from Springleaf to Caldecott open
- 2021 - 13 new stations from Mount Pleasant to Gardens by the Bay give direction access to the CBD, Marina Bay and Gardens By The Bay from the Woodlands
- 2023 - 7 stations on the East Coast stretch open new access to the East Coast area currently not served by any MRT line
- 2024 - last 2 stations on the East Coast stretch connect to the DTL3e extenstion at Sungei Bedok and will relieve some pressure on the E-W line.
THOMSON EAST COAST LINE TEL
The Thomson-East Coast Line (TEL) is a joint line between the Thomson Line and the Eastern Region Line.
The 43km TEL will add 31 new stations to the existing rail network, with 7 interchange stations, which will link to the East-West Line, North-South Line, North-East Line, Circle Line and the Downtown Line.
The 13km eastern stretch will run through the neighbourhoods of Tanjong Rhu, Katong Park, Amber, Marine Parade, Marine Terrace, Siglap, Bayshore, Bedok South and Sungei Bedok. The first seven stations, from Tanjong Rhu to Bayshore, will be ready in 2023. The stations in Bedok South and Sungei Bedok will be ready in 2024.
When the 43km-long TEL is completed in 2024, a trip from East Coast Park to Orchard is expected to take just 45 minutes, compared to 75 minutes. Commuters travelling from Marine Parade to the Central Business District will halve their travel time from 40 minutes to 20 minutes.
The TEL will also connect with the upcoming Downtown Line which will have a new extension consisting of the Xilin station and the Sungei Bedok interchange station. This is to improve public transport accessibility to the Changi Business Park and Expo areas, he said.
The 31 stations of the TEL are expected to serve about half a million commuters daily in the initial years and twice that in the long term. To make way for the construction of the eastern stretch of the line however, six landed properties along Amber Road and a three-storey apartment along Tanjong Katong Road will be acquired.
The world's first four-in-one train and bus depot will also be built with the TEL. It will house buses and trains for the TEL, East-West Line and Downtown Line. The 36ha depot can house about 220 trains and 550 buses and integrating the depot for both buses and trains will help to save close to 60 football fields of land space.
CONSORTIUM SUSTAINED LAND WON TOP BID FOR PARKWAY MANSION CONDO SITE COLLECTIVE SALES
The sale price went over 6.5% of the asking price.
The prime freehold development Parkway Mansion at 9 Amber Road has been sold to a consortium led by Sustained Land Pte Ltd for $146.99m, Colliers International revealed.
According to a press release, the sale price broke 6.5% above the guide price of $138m.
The sale price and an estimated development charge of approximately $21m translate to a land rate of $1,536 psf ppr.
The land rate for Parkway Mansion far surpassed prices achieved in recent collective sales in the area, such as The Albracca ($1,409 psf ppr), and Nanak Mansions ($1,429 psf ppr) in Meyer Road, as well as Amber Park ($1,515 psf per plot ratio).
Tang Wei Leng, managing director at Colliers International, said, “We have received several bids from developers and investors. The Sale Committee decided to award the tender to SL Capital (3) Pte Ltd who submitted the highest unconditional offer."
Apartment sizes at the 17-storey development range from 1,819 sqft to 1,948 sqft.
Depending on the size of their property, each owner will stand to receive between $4.5m and $4.7m in gross proceeds upon completion of the sale. The sale proceeds is about 70% above the open market value based on the last transaction in 2013.
Under the 2014 Master Plan, the 38,975 sqft site is zoned for residential use and has a potential total gross floor area (GFA) of approximately 109,130 sqft.
Parkway Mansion is located just 100 metres from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line which is slated for completion in 2023 and is easily accessible to an array of amenities including Parkway Parade mall, and the popular East Coast Park beach.
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