Back in 2015, on the 26th of November, a government land scale tender (the new condo project name is now known as Seaside Residences) was released for a site located on Siglap Road. GLS sites in this region being rare, the tender attracted a significant amount of attention. It closed on 14th of January, 2016 after attracting no less than 8 bids. The number of bids underlines the merits of this site.
The land parcel covers an area of 207,848 square feet. It will be developed into a private residential condominium with 99-year leasehold units named. The gross plot ratio of the land is 3.5 and the maximum permissible gross floor area is a total of 727,467 square feet. The land will yield an estimated of 843 residential units over four 27 storeys apartment blocks.
The third highest bid was from First Bedok Land Pte Ltd with tendered sale price of $582,938,000. The next highest bid was worth $600,122,000 and it was submitted by a group of companies. The group consisted of Verwood Holdings Pte Ltd and TID Residential Pte Ltd along with Intrepid Investments Pte Ltd.
The winning bid was submitted by a consortium of FCL Topaz Pte Ltd and Sekisui House Ltd along with KH Capital Pte Ltd. It had a value of $624,180,000. FCL Topaz Pte Ltd is a unit of Frasers CentrePoint while KH Capital is a part of Keong Hong Holdings. The offer is work around $858 in terms of per square foot per plot ratio. All of these companies have previous extensive experience in the development of premium residential condominiums.
Located along Siglap Road, Seaside Residences is one of the most exciting new condo developments in the region. It is not just because of the fact that there have been few launches in this area in recent years. It is also because of the incredible range of amenities and facilities on offer in the vicinity.
One of the most beautiful getaway spots in Singapore, East Coast Park offers an exciting range of activities to suit the needs of all visitors. Apart from recreational spots, the area offers spots for dining and sporting as well. As such, a visit to East Coast Park can be an invigorating experience for the residents of Siglap Road.
Here, the residents can relax with their families or their friends. They can even enjoy picnics held under the swaying palms, Ketapangs and Casuarinas. Alternatively, they can relax inside the holiday chalet located inside the park. As such, residents and visitors are certain to have a relaxing stay here.
Residents of Seaside Residences who wish to enjoy some thrilling activities will also find that their needs are being met by the facilities at the park. The various sporting activities here such as cycling, beach volleyball and cable skiing are certain to fulfill their desire for excitement. Those looking for an adrenaline rush can head over to the Xtreme Skate Park. Several water sports are also available here.
The East Coast Park is also a great place for dining out. Several barbecue pits are spread all over the park. As such, it becomes rather easy for people to socialize over scrumptious food. There is even a hawker centre, for those who want to enjoy some mouthwatering street food while enjoying the cool breeze from the sea. There are restaurants as well specializing in tasty cuisines in the park.
Care has been taken to ensure that all visitors to the park are as comfortable as possible. As such, many of the public restrooms here have been equipped with shower facilities. Therefore, residents can wash up here instead of waiting to get back to Seaside Residences.
With the total land area being spread over 185 hectares, the East Coast Park does have something on offer for everybody. Of course, the breathtaking coastline that stretches across 15 km will be the prime attraction.
Residents will also get a range of amenities and conveniences once the property at Seaside Residences Siglap has been developed. Connectivity is assured. The land lies around 400 meters from the Siglap MRT Station which is expected to be ready for use by the year 2023. This station will be serving the upcoming Thomson-East Coast Line.
The current connectivity options are also quite favorable. The Siglap Road new condo launch will take place in an area that is nicely served by MRT lines, buses and expressways. The Bedok MRT Station of the East-West Line is located at a distance of 1.7 km. The Bedok Bus Interchange is near the station and it will allow the residents to access various places all over Singapore. The East Coast Parkway is also located a short drive away, providing residents easy access to Central Business District, Marina Bay and Marina South.
Siglap also has plenty of shopping in the vicinity, ranging from the old school parkway parade to the latest trendy 112 Katong all within close distance to Seaside Residences.
When it comes to shopping in the Siglap area, Parkway Parade is easily one of the best spots to do so. This shopping Centre is located in Marine Parade but can be easily accessed by the residents of Seaside Residences. Parkway Parade opened in 1983 and has a shopping mall that stretches over 7 stories apart from an office tower with 17 floors.
When Parkway Parade opened its doors, it became the shopping mall where many major retail stores had their first outlet in the suburbs. This includes famed companies such as Marks and Spencer, Small World and Isetan. The playground located at Level 7 was once the biggest playground to be situated inside a mall in Singapore. An amusement center is also present inside the mall, spread over Level 3 and Level 4.
If the residents are looking for sumptuous food, they can head down to the basement which has several food and beverage options. Medical services are available here along with beauty services, ensuring that they get a complete package.
There are several facilities in this shopping center that make it worth the visit. Concierge services are available that make the shopping experience better than before. There are a total of 270 stores in the center. The anchor tenants at Parkway Parade include Best Denki, Giant Hypermarket, Food Republic, Isetan and Marks and Spencer among others. Therefore, visitors can easily fulfill their daily or spur of the moment shopping needs here.
The fascinating 112 Katong Mall is situated at the intersection of Joo Chiat Road and East Coast Road. As a result, residents from Seaside Residences should have no trouble in travelling to the mall for their shopping, recreation and entertainment needs, even on a daily basis. This mall has become one of the premier lifestyle destinations in the eastern region of Singapore. Its range of food and beverage options is so extensive and excellent that they have become quite well-known in the region.
The 112 Katong Mall has recently undergone a revamp. Now, it looks better than ever. The shops with their fascinating wares are spread over six levels with a wet playground located on Level 4. The car park is stretched over two levels in the basement. Residents looking to take a break and relax can head to the roof. The rooftop garden has been beautifully landscaped creating the perfect place to unwind.
There are more than 140 specialty shops at 112 Katong Mall. Several food and beverage outlets operate extended hours inside the mall. As a result, diners and shoppers from Seaside Residences will have an eclectic mixture of dining, entertainment and retail options that is unrivaled in the region.
The anchor tenants of 112 Katong Mall include Food Republic, Golden Village and Katong Marketplace. When it comes to shopping, nearly all categories are served by the retail stops, from fashion to beauty to pharmaceutical. Residents will be able to satisfy all of their requirements from the mall easily. The mall also offers a range of concierge services that can make shopping and dining here all the more comfortable and enjoyable.
The shophouses along east coast road contains a number of F&B outlets, supermarkets and shops to meet residents needs. The Marine Parade Town Centre is a short drive away and residents will find retail outlets, markets and a food center there too. There are several other entertainment and dining options here as well.
Parents looking for a home in Siglap Road will find the new condo to be convenient. There are various reputed schools and educational institutions here. The nearby institutions includes Opera Estate Primary School, Tao Nan School, Ngee Ann Primary School and Saint Patrick’s School. International schools like Global Indian International School are also present here. Institutes of higher learning are also located conveniently such as the Temasek Junior College and Victoria Junior College.
Educating is certainly important. As such, the residents of Seaside Residences will certainly want to ensure that there are excellent schools in the vicinity to send their children to. Tao Nan School happens to be one of those schools. It is quite easy to access this school from Seaside Residences, being located on Marine Parade. This will be beneficial for the children who need to spend less time on their commute.
Tao Nan School is coeducational primary school. It is considered to be one of the top 30 most popular schools in Singapore as listed by the Ministry of Education. It is also one of the six schools of the Hokkien Huay Kuan association in Singapore. Currently, there are around 2,500 students enrolled in the school. The school has several programs in place designed to help its students develop their talents and become more productive members of the society.
The school offers the Gifted Education Programme which identifies the top 1% of the students in Singapore who have an exceptional level of intelligence. The tests for selecting the students take place every academic year. If selected, the students will be placed into special classes designed to maximize the development of their intelligence and talents. Tao Nan School has also started the Bi-Cultural Enrichment Programme. Under this program, the students are taught to be bilingual. Clubs and societies are some of the co-curricular activities in the school apart from sports. Cultural groups such as a Chinese Orchestra and Choir are offered by the school as well.
The history of the school is quite fascinating considering that it is more than a hundred years old. Having been established in 1906, the school is one of the oldest primary schools that are still running in Singapore.
The residents of Seaside Residences will certainly be considering Victoria School for their children. After all, the school is more or less within walking distance from the condo. However, it is not just the proximity of the school which parents will like. It is a fact that Victoria School is one of the leading secondary schools in Singapore. Its track record in academics is quite fantastic.
The school was established in 1876 and is a completely boys’ school. This secondary school has more than 1,600 students enrolled currently. Interestingly, it was only recently that the school moved to its current site at Siglap Link. Previously, it was located at Geylang Bahru. Originally, the school was founded in Kampong Glam.Victoria School protected with barriers, likely to minimize impact from the up coming luxury condominium construction of Seaside Residences next door.
There are several special programs offered by Victoria School. These programs are designed to ensure that each student gets the best education possible for maximizing his development. It offers an Integrated Programme. Students under this programme can skip their GCE ‘O’ Levels and take the examinations for the GCE ‘A’ Levels directly. Physical education as a course is also offered by Victoria School.
Victoria School has its own talent program named VECTORS. This program aims to nurture the development of those students who have managed to display a high aptitude in science and mathematics. These students are provided with extra opportunities that can improve their learning of the subjects beyond the given curriculum. Several co-curricular activities are also provided by the school including performing arts, sports, clubs and societies.
The Seaside Residences @ Siglap New Condo Launch will certainly contain all of the main amenities that have become standard in a luxury residential condo. Some of those amenities include a clubhouse, an area for barbecues, covered car parking, swimming pools, lap pools and gyms. It still remains to be seen what other features and amenities the developer will be implementing in the property.
|Project Specifications (Subject to Change)|
|Project Name:||Seaside Residences|
|Developer:||Frasers Centrepoint (FCL Topaz Pte Ltd), Sekisui House Ltd and KH Capital Pte Ltd.|
|Development Type:||Luxury Seaside Condominium featuring 3 storeys high ceiling 115 meters infinity pool and sky terrace located at 14th - 16th floors.|
|Site Area:||19,309.6 m2 approx 207,847 sqft|
|Number of Storeys:||4 blocks of 27 Storeys apartments|
|No. of Units / Sizes:||Total: 843
1 to 4 bedroom and penthouse types. Floor layout sizes range starts 420 sqft - 3294 sqft.
|Car Park Lots:||Basement Carpark 1:1.|
Official price indication
|Bedroom Type||Number of Units||Size Range (sqft)||Starting Price SGD$ (Approx.)|
|1 + Study||188||560-775||$8xxK|
|4 bedrooms & Penthouse||55||1485-3294||$2.2xmil|
Land price analysis
The top 4 of these bids for the site were worth more than $800 per square foot per plot ratio and they all fell inside a 7% margin. This suggests that there will be a significant demand for the units at the area, once developed. It is possible that the strong interest has been due to the dearth of residential development sites. The proximity of the location to areas like East Coast Park was surely a factor. Moreover, the sea views are clear and free from interference which is another added bonus. The bids also showcase the desire of the property developers in Singapore to increase their land bank.
When the tender for the site was released, analysts predicted that there will be more than 7 bids for the property. They believed that the convenient location would certainly enable the site to attract a significant amount of interest from developers. This is exactly what happened as the site ultimately fetched 8 bids.
The consortium intends to build a total of 843 residential units on this plot. It will be launched in 2017. The Siglap Road New Condo Launch is going to target owner-occupiers as well as buyers who are looking to invest in real estate. The price segments being aimed for include the mid-tier and the upper-tier. The developers believe that these will give the best possible results to their condo launch project.
Analysts believe that the selling price for the project developed at the site will have to be a minimum value of $1,400 to $1,500 per square foot. This is due to the bid made by the consortium. The price will also need the market conditions to be favorable at the time of the sales launch. Upon the completion of the development, the developer is sure to have run up a total cost of $1 billion.
Siglap Road is a beautiful place with a convenient access to the beachfront and other areas of Singapore. As such, residents will surely able to enjoy a leisurely and comfortable life in a premier condominium here. The consortium in charge of developing the new property showflat will surely do their best in ensuring that the residents are able to lead such a life.
With such beneficial amenities located at convenient distances, people looking for a home in the eastern region should seriously consider Seaside Residences. This condo will provide them will all that they require from a luxurious living space. At the same time, the location of the condo is quite advantageous as can be seen above.
Detailed Diagrammatic Chart
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Seaside Residences - Siglap Rd, Singapore
Seaside Residences - Siglap Rd, Singapore