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mantrix
04-03-11, 08:12
» UOL-SingLand condo to have resort feel, terrace homes
Business Times: Fri, Mar 04
A UNIQUE low-rise condo project with a resort ambience and even some strata terrace houses on a plot fronting Bedok Reservoir Park is being planned by a UOL Group-Singapore Land partnership. The partnership emerged as the top bidder for the state t...

A UNIQUE low-rise condo project with a resort ambience and even some strata terrace houses on a plot fronting Bedok Reservoir Park is being planned by a UOL Group-Singapore Land partnership.
The partnership emerged as the top bidder for the state tender yesterday after putting in an offer that was merely 2.6 per cent higher than the next highest bid by a partnership of Frasers Centrepoint, Far East Organization and Sekisui House.
The top bid was $320 million or about $465 per square foot of potential gross floor area for the 99-year-leasehold site.
Frasers Centrepoint and Far East have teamed up to develop four nearby 15-storey condo projects - Waterfront Waves, Key, Gold and Isle.
Yesterday's tender drew eight bids.
Market watchers could not help but comment on the sharp contrast between the latest tender result and last week's tender for a plum high-rise condo plot near Bishan MRT Station, when 19 bids were received with top bidder CapitaLand offering a record $869 per square foot per plot ratio (psf ppr). This was a whopping 27 per cent higher than the next highest bid.
'Bishan is a more popular area and is pretty close to the city. And the location had not seen a new condo site for sale for some years,' said Savills Singapore executive director (investment & Prestige Homes) Steven Ming.
Analysts also noted that the Bedok Reservoir site has a five-storey maximum height and slopes down from the Park. Hence, some units in the new development will not have reservoir views.
UOL Group president (property) Liam Wee Sin acknowledged this, but said the proposed project could have a feel of being nestled in a park. 'When we looked at this site, we saw an opportunity to create fresh options for home buyers who would like a development themed on the natural environment.'
Another attraction of the site is it is near the future Bedok Town Park MRT Station under the Downtown Line.
Michael Ng, group general manager of Singapore Land and its immediate parent UIC, said: 'This is a very unique and beautiful site. It's rare to have a site almost next to the waterfront without any road in between.'
'I would liken this site to the Seven Palms of the eastern part of Singapore, although Simon Cheong may not be too thrilled with the reference,' he chuckled.
Seven Palms is a luxury condo development at Sentosa Cove next to Tanjong Beach by SC Global Developments, controlled by Mr Cheong.
Analysts estimate that the UOL-SingLand tie-up will break even at about $800-850 psf and could be eyeing an average selling price of about $1,000 psf. Said Mr Liam: 'We hope to launch the project this year but we need to figure out the mix of units, for example, how many strata terrace houses to include.'
Other bidders at yesterday's tender included Best Desire Investments Limited, which is not incorporated in Singapore and which bid $425.50 psf ppr, GuocoLand unit First Changi Development (about $412 psf ppr), Robert Kuok's Allgreen Properties ($372 psf ppr) and City Developments' unit Sunmaster Holdings ($360 psf ppr).
Hiap Hoe subsidiary Leng Hoe Development offered about $313 psf ppr and the lowest bid of about $292 psf ppr was by Mezzo Development.

phantom_opera
04-03-11, 08:26
Since it is low rise, selling 99LH 3-4 storey terraced house will be a good idea. Guess all the lake view units will be terraced house or penthouse. The rest will have to be contented with pool view.

I think the current Sheng Siong commercial area should be redeveloped once all the condos are up.

mantrix
04-03-11, 08:37
465 psf - selling price around 800psf??

This will temper the price appreciation of that region somewhat...

phantom_opera
04-03-11, 09:10
465 psf - selling price around 800psf??

This will temper the price appreciation of that region somewhat...

800psf breakeven only, UOL will sell > 1000psf, mark my words. They will just compare themselves to My Manhattan and the Bedok Central CAPL project. There will be a lot of interest in 99LH terraced house as there are virtually no landed homes around this area.

devilplate
04-03-11, 09:32
penthouses over there wif reservoir view worth taking a look:D ....got chance 750psf for PH? UOL layout shd be good...

i remember terrene PH about 1kpsf which is FH....looks cheap now...:eek:

McKinnon
04-03-11, 09:54
i have been byoing a penthouse unit w a reservoir view for v long liao.

but dun have any w the magnificent loft penthouse feel lei.



penthouses over there wif reservoir view worth taking a look:D ....got chance 750psf for PH? UOL layout shd be good...

i remember terrene PH about 1kpsf which is FH....looks cheap now...:eek:

devilplate
04-03-11, 10:06
i have been byoing a penthouse unit w a reservoir view for v long liao.

but dun have any w the magnificent loft penthouse feel lei.

tis project cud b the ONE!!:D

McKinnon
04-03-11, 10:18
yayaya.. closest so far is aquarius penthouse with double storey full glass from floor to ceiling. :jump-for-joy:




tis project cud b the ONE!!:D

phantom_opera
04-03-11, 10:22
If penthouse built on top of slope, what is the equivalent height as compared to Waterfront collection?? More like 8th storey? Too low cannot have good view especially the location is at one end of reservoir.

devilplate
04-03-11, 10:35
If penthouse built on top of slope, what is the equivalent height as compared to Waterfront collection?? More like 8th storey? Too low cannot have good view especially the location is at one end of reservoir.

trust me....the view will be gd enuff as long u can clear the trees....bcoz the project is just next to the reservoir....makes a diff....similar low flr poolview tat kind of feeling...

the plus point is no road in between ur view.....quiet and serene beats those high flr reservoir facing at waterfront collection oredi

devilplate
04-03-11, 10:36
however my main worry is the greeny irritating bugs:scared-3:

rainy season will appear again? its really irritating and even get into my nose:scared-3: :doh:

blackjack21trader
04-03-11, 10:38
I guess they could launch at around $950psf ba, but then again it all depends on the size of the house lor.

McKinnon
04-03-11, 10:41
*bookmarking this development for monitoring :D



I guess they could launch at around $950psf ba, but then again it all depends on the size of the house lor.

august
04-03-11, 10:47
$900 to 1100 psf ~

phantom_opera
04-03-11, 10:51
trust me....the view will be gd enuff as long u can clear the trees....bcoz the project is just next to the reservoir....makes a diff....similar low flr poolview tat kind of feeling...

the plus point is no road in between ur view.....quiet and serene beats those high flr reservoir facing at waterfront collection oredi

Then those lake facing units at Tropica / Waterview are equally quiet?

If the developer is kind, they will build roof garden on the highest point for all units to enjoy.

devilplate
04-03-11, 10:52
Then those lake facing units at Tropica / Waterview are equally quiet?

If the developer is kind, they will build roof garden on the highest point for all units to enjoy.

yes...quiet as well but they dun have direct access to the reservoir.....

anyway, price is still the deciding factor....i really doubt resevroir view facing PH can be bot at 750psf....haha....mabe 750psf for those facing HDB or main roads...LOL

McKinnon
04-03-11, 10:56
yesh, very extremely quiet and windy.


Then those lake facing units at Tropica / Waterview are equally quiet?

If the developer is kind, they will build roof garden on the highest point for all units to enjoy.

terence
04-03-11, 12:58
however my main worry is the greeny irritating bugs:scared-3:

rainy season will appear again? its really irritating and even get into my nose:scared-3: :doh:

you are right...i'm worried about the bugs as well when the season comes..but i guess this project worth a look.

Wild Falcon
04-03-11, 13:33
I much prefer area to HDB estate Bishan and developers price is almost halved. One thing is for sure, I doubt the launch price will be half that of Bishan. In short, it just means the winning developer will definitely get a better margin on this site than Bishan or Punggol.

Kengar
04-03-11, 13:36
yesh, very extremely quiet and windy.

Yeah...looking forward to more wind at WV TOP and to escape the loud motorcycle noise from my current Tampines Street 82 flat. :cheers1:

SRM
05-03-11, 10:02
Am keen on this development too. Has all the ingredients to being a perfect home for the future. ;)

SRM
05-03-11, 10:07
If they build something like THE SHAUGHNESSY, then will sell like hot cakes.


Since it is low rise, selling 99LH 3-4 storey terraced house will be a good idea. Guess all the lake view units will be terraced house or penthouse. The rest will have to be contented with pool view.

I think the current Sheng Siong commercial area should be redeveloped once all the condos are up.

McKinnon
05-03-11, 17:11
or duplex penthouses like this! :D

http://www.propertyguru.com.sg/listing/3015268/luxurious-living-2-storey-2-1-br-royal-duplex-th



If they build something like THE SHAUGHNESSY, then will sell like hot cakes.

SRM
05-03-11, 18:41
woow..a class of its own..Hope UOL can make our dream come true..;)


or duplex penthouses like this! :D

http://www.propertyguru.com.sg/listing/3015268/luxurious-living-2-storey-2-1-br-royal-duplex-th

phantom_opera
05-03-11, 21:36
I doubt UOL is serious in making this world class ... a better developer for this plot is CAPL with the Iraqi architect (i think she designed the flower at wrong place, this place is more suitable :D )

Anyway the site plan for this plot will be a real challenge, the terrain is very complicated. See Q&A, max 3-storey strata housing is allowed but must have mixture of condos and strata housing and I doubt developers allowed to totally level the whole terrain or remove all trees.

Q1

URA has earlier allowed strata housing as part of a Condominium development, e.g. The Vision at West Coast Crescent. Will URA consider allowing 3-storey strata housing type to form part of the 5-storey Condominium housing development on the subject sale site?

A1
As stipulated under Clause 3.1 of the Technical Conditions of Tender, the allowable forms of housing development for the land parcel include condominium, flats and/or serviced apartments. A development on the subject land parcel comprising a mixture of 3-storey strata housing and apartment units can be accorded condominium status and thus be considered, subject to compliance with Development Control guidelines. However, housing development comprising only strata landed housing units will not be allowed on the subject land parcel.

Q2

Can the existing terrain within the site be leveled?
A2
The successful tenderer is encouraged to retain the existing terrain within the land parcel. The proposed earthworks for the subject proposal will be evaluated upon formal submission stage. For more details, please refer to the guidelines pertaining to earthworks in the URA Handbook on Development Control Parameters for Residential Development.
Q3

There are a number of large mature trees within the site. Can they all be cut down for the development?
A3
As stipulated under Clauses 8.1.2 and 8.2.3 of the Conditions & Requirements of Relevant Competent Authorities & Public Utility Licensees (NParks), the successful tenderer is encouraged to retain as many trees within the land parcel as possible, especially trees that are more than one metre in girth, measured 0.5 metres from the ground. The successful tenderer is to seek NParks' clearance before the removal of any mature trees (i.e. trees with more than one metre in girth) within the land parcel.
Q4
Is there any maximum or minimum requirements for percentage of service apartments versus condominiums/flats?
A4
There is no quantum control on the proportion of serviced apartments and condominium/flat units that could be allowed for the development within the land parcel. However, based on prevailing Development Control guidelines, the serviced apartment development will need to be developed as a single independent block or blocks of flats. For more details, please refer to the guidelines on Serviced Apartments in the URA Handbook on Development Control Parameters for Non-Residential Development.

phantom_opera
05-03-11, 21:49
More interesting stuff that may create headaches for UOL:

4.2.4 There are existing embankments and retaining walls along and within
the boundaries of the Land Parcel.

4.2.5 Upon being granted possession of the Land Parcel, the successful
tenderer shall take all necessary measures to ensure the stability of the
existing embankments and retaining walls.

4.2.6 The successful tenderer shall indemnify the State against all claims
and/or damages which may arise either directly or indirectly from any
instability rendered to the existing embankments and retaining walls by
any cause whatsoever or by any works carried out by the successful
tenderer or by his servants and/or agents.

4.2.1 Vehicular access to the Land Parcel shall be taken from Bedok
Reservoir Road and is to be positioned at least 50m away from the
existing access road to the adjacent HDB Reservoir Village and 30m
away from the signalised pedestrian crossing; as shown indicatively on
the Control Plan. The exact location and the number of access point(s)
shall be subject to the requirements and approval of the Land
Transport Authority (LTA), and other relevant Competent Authorities.

4.2.2 The Land Parcel is affected by visual control requirement as shown on
the Visual Control Plan. The views from any window, corridor, staircase
or any opening, etc. above the height of 49m and 56m AMSL
respectively must be directed away from MINDEF’s premises, as
shown on the Visual Control Plan. Alternatively, the successful
tenderer can propose visual screening measures which include but are
not limited to the following:
(i) Window openings are to be recessed or have fixed, frosted glass
panels;
(ii) Corridors, staircases, fixtures or other openings are to be provided
with louvers; and
(iii) Access to roof tops is to be restricted.

8.2.1 The Land Parcel abuts the existing Bedok Reservoir Park. The
successful tenderer shall ensure that there will not be any detrimental
effect on the stability of the ground, in particular the boundary abutting
the Bedok Reservoir Park which is sitting on high ground. Earthworks
involving the cutting of slopes, retaining wall and other soil stability
measures have to be carefully planned. In addition, measures are to be
taken to protect the biodiversity within the portion of Bedok Reservoir
Park that is abutting the sale site.

8.2.2 The successful tenderer is advised to consult NParks early should the
development affect any trees within the Bedok Reservoir Park, in
particular those trees along the common boundary of the Land Parcel
and the existing park.

8.2.3 The successful tenderer is advised to retain as many trees within the
Land Parcel as possible, especially trees that are more than one
metre in girth, measured 0.5 metres from the ground.

8.2.4 The successful tenderer is to ensure that the existing roadside trees
abutting the Land Parcel are not to be affected, except with the
approval from NParks, for vehicular ingress/ egress, service access
drop-off point and any other statutory requirements to divert or
reconstruct services or road features/ elements, etc. The successful
tenderer is to consult NParks on the tree protection criteria of the
roadside trees during early design stage.

Really look forward to site plan :cheers1:

DaytonaSS
05-03-11, 21:56
OMG u read such stuff for leisure?

noblebaby
05-03-11, 22:13
so many ppls interested in this project price will be sky high... :banghead:

kEN9170
06-03-11, 06:34
This thread should be under District 16 right?


so many ppls interested in this project price will be sky high... :banghead: