KAP Residences

[SQ008]

Yes. The biggest problem about strata title shops is, there is no management to control the tenant mix. Imagine the mall ends up with 20 bubble tea shops, 40 hair salons, and 30 provision stores... Just an extreme example.

Indeed I agree with you. For the current KAP, the main tenants are Macdonalds and Cold Storage. However, the new layout would mean the they will have to rent several units and break down the walls.

[ecimbew]

Improvements to the area


Flood relief for Upper Bukit Timah area

By Joy Fang
my paper
Friday, Sep 21, 2012

RESIDENTS and shopkeepers in areas such as Beauty World Plaza, King Albert Park and Ngee Ann Polytechnic will see some flood relief, as national water agency PUB unveiled new measures to widen and deepen the 3.2km-long Bukit Timah First Diversion Canal yesterday.

The measures will increase the capacity of the Upper Bukit Timah catchment area by 30 per cent.

Work on the canal will be done in three phases and is expected to be completed by 2016.

The Bukit Timah area is known to be flood prone. It was hit by a major flash flood in November 2009, which resulted in knee-deep waters in several stretches and flooding of basement carparks.

Despite the large scale of the upcoming works on the diversion canal, only one road needs to be diverted. A 160m section of the six-lane bi-directional Ulu Pandan Road, opposite Pine Grove condominium, will be affected during the first phase of the works.


Under the road, a new 25m-long three-cell box culvert - a type of closed drain - will be built beside the existing 17m-long one.

The first phase of works will start next month and is slated for completion by the first quarter of 2015.

It will initially involve works, lasting 12 months, to be done on sections of the canal that are not under Ulu Pandan Road, so no road diversions will be needed.

However, an overhead bridge and a bus stop on the road will be relocated temporarily by 80m.

After these works are completed, another six months of construction on the canal will take place beneath the road.

This will result in three lanes of Ulu Pandan Road, heading towards the city, being diverted.

The next nine months will see the other three lanes, heading towards Clementi Road, diverted as well.

After the new culvert is completed, the original road alignment will be restored. The first phase will cost $33.7 million.

The other two phases of works on the First Diversion Canal will begin next year. They will expand the canal between Maple Avenue and Holland Green, and between Holland Green and Clementi Road.

When completed, Holland Green and Holland Plain, where there are no residents, will be transformed to have rain gardens and greenery.

Mr Tan Nguan Sen, director of PUB's Catchment and Waterways Department, said the First Diversion Canal has served its function well for the past 40 years, but improvements to it were needed to enhance flood protection for the long term "to cater for future developments and increasing weather uncertainties".

Measures will be in place to minimise disruption, such as erecting noise barriers.

On how PUB will ensure the surrounding area is structurally sound during the works, PUB said that it will monitor settlement and ground movements through a "comprehensive instrumental plan".

The moment these exceed the allowable tolerance, PUB will stop work and take preventive measures.

Master's student Chia Shuhui, 24, who has lived at Pine Grove for 18 years, said the construction works will be quite inconvenient and could cause jams in the short term.

"But if it stops flooding, it will be good in the long run."

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http://www.asiaone.com/News/Latest%2...21-372823.html

[babyt]

Yes. The biggest problem about strata title shops is, there is no management to control the tenant mix. Imagine the mall ends up with 20 bubble tea shops, 40 hair salons, and 30 provision stores... Just an extreme example.

if the rental is high, i doubt bubble tea, salon or provision will want to open there. KAP is not located near HDB estate and i doubt expats will want to drink BBT or go local salon to get hair done. Maybe Ice cream shop is possible?

[Regulators]

Whether the crowd is sustainable depends on the tenant mix for those shops. The reason why capita malls are so successful is because they do not sell their shops and control tenant mix,when the developer sell the shops, you end up having all kinds of businesses being set up, whether viable or not.

if the rental is high, i doubt bubble tea, salon or provision will want to open there. KAP is not located near HDB estate and i doubt expats will want to drink BBT or go local salon to get hair done. Maybe Ice cream shop is possible?

[sunboy77]

if the rental is high, i doubt bubble tea, salon or provision will want to open there. KAP is not located near HDB estate and i doubt expats will want to drink BBT or go local salon to get hair done. Maybe Ice cream shop is possible?

Yes yes I was just giving some examples. The main issue is the (lack of) control of tenant mix. If the place ends up with 20 ice cream parlours also siao liao.

But there are success stories also la. E.g. Queensway Shopping Centre. By stroke of luck or not, the whole nation knows Queensway Shopping Centre is the first place to turn to if there are some kind of merchandise or services that we need.

[sunboy77]

Indeed I agree with you. For the current KAP, the main tenants are Macdonalds and Cold Storage. However, the new layout would mean the they will have to rent several units and break down the walls.

If the developer keeps to the words of the agents selling this property - I.e. Mac and Cold Storage will be back - then I guess the commercial owners will be very much relieved liao.

[Regulators]

my adivice to those who get commercial units in KAP is to be very selective over the tenants renting the place. The reason is very simple. If you get good tenants in, it will generate human traffic, with increase in human traffic, it will help to jack up the demand and future rental price of the place. With the increase in rental price, the prices of the commercial units will also increase in tandem to the rental. A lot of landlords make the fatal mistake of renting their units to any tom, dick or harry business as long as they meet the rental target, but this will depress the business in the area in the long run and drive away human traffic. Look at Orchard central, the reason why they fail miserably is because they do not have quaility tenants, you walk in and will find many shops selling rubbish. There is one particular shop that runs a flight simulation business with hardly anyone patronising the place, novel business idea but no clientele.

[Coolstuff]

my adivice to those who get commercial units in KAP is to be very selective over the tenants renting the place. The reason is very simple. If you get good tenants in, it will generate human traffic, with increase in human traffic, it will help to jack up the demand and future rental price of the place. With the increase in rental price, the prices of the commercial units will also increase in tandem to the rental. A lot of landlords make the fatal mistake of renting their units to any tom, dick or harry business as long as they meet the rental target, but this will depress the business in the area in the long run and drive away human traffic. Look at Orchard central, the reason why they fail miserably is because they do not have quaility tenants, you walk in and will find many shops selling rubbish. There is one particular shop that runs a flight simulation business with hardly anyone patronising the place, novel business idea but no clientele.

Good advise. Thanks. I am still trying to find others who have also invested.

[sunboy77]

my adivice to those who get commercial units in KAP is to be very selective over the tenants renting the place. The reason is very simple. If you get good tenants in, it will generate human traffic, with increase in human traffic, it will help to jack up the demand and future rental price of the place. With the increase in rental price, the prices of the commercial units will also increase in tandem to the rental. A lot of landlords make the fatal mistake of renting their units to any tom, dick or harry business as long as they meet the rental target, but this will depress the business in the area in the long run and drive away human traffic. Look at Orchard central, the reason why they fail miserably is because they do not have quaility tenants, you walk in and will find many shops selling rubbish. There is one particular shop that runs a flight simulation business with hardly anyone patronising the place, novel business idea but no clientele.

In theory this is the best.

But no rational landlord will reject a good offer from any t, d, or h in place of considering the benefits of the other landlords. It will never happen. So eventually there'd be a lot of t, d, and h in the whole mall -> which like you said, will affect clientele and patronage.

[sunboy77]

Not for own business, also not for flipping - looking as a long term investment. Well, there is yield compression everywhere now, except for overseas property. I am more optimistic over commercial than residential.

My 20 cents opinion:
During bad times and economic downturns (which will definitely happen but the only question is when), people will still need a roof over their head no matter what. So you can still rent out your residential unit (just that you might have to lower your rental) during such times.
But for commercial units, you'd see many empty spaces during economic downturns even if the landlords lower their rentals.

[Regulators]

The developers should encourage commercial landlords to set up some committee to oversee the health of the business in the mall. Managing a mall whether big or small is very different from shophouses running individual business in hdb.

[sunboy77]

The developers should encourage commercial landlords to set up some committee to oversee the health of the business in the mall. Managing a mall whether big or small is very different from shophouses running individual business in hdb.

Hmmm... At the end of the day, it is not easy.
"I am a landlord. I paid millions of $$$ for my shop. If 29 of you can rent to bubble tea shops, why should I reject a good offer from the 30th one??"

[sunboy77]

Besides tenant mix, (lack of) A&P is also another problem faced by strata shops. If the commercial landlords do not team up and conduct regular A&P, then also jialat liao. Look at Star Vista. Even with a management team, no A&P means death. How grand the façade or how good the location also no use.

But KAP enjoys the advantage of its iconic presence. No taxi uncle will not know where KAP is. When I ask my clients to meet at KAP, every of them will say "Oh, that MacDonald's har." This is how iconic KAP has become. And hopefully this iconic status will be a crowd magnet in itself.

[Coolstuff]

My 20 cents opinion:
During bad times and economic downturns (which will definitely happen but the only question is when), people will still need a roof over their head no matter what. So you can still rent out your residential unit (just that you might have to lower your rental) during such times.
But for commercial units, you'd see many empty spaces during economic downturns even if the landlords lower their rentals.

This is a common argument. But I beg to differ slightly. For >$2mil property, it is likely to be rented to expatriates. During downturns, they are quite likely to loose their job and leave. Hence, it is similarly likely to see many empty high end condos as well.

[Coolstuff]

Besides tenant mix, (lack of) A&P is also another problem faced by strata shops. If the commercial landlords do not team up and conduct regular A&P, then also jialat liao. Look at Star Vista. Even with a management team, no A&P means death. How grand the façade or how good the location also no use.

But KAP enjoys the advantage of its iconic presence. No taxi uncle will not know where KAP is. When I ask my clients to meet at KAP, every of them will say "Oh, that MacDonald's har." This is how iconic KAP has become. And hopefully this iconic status will be a crowd magnet in itself.

Wats A&P ?

[Regulators]

Will there still be a macdonalds there, will be good for other businesses

Besides tenant mix, (lack of) A&P is also another problem faced by strata shops. If the commercial landlords do not team up and conduct regular A&P, then also jialat liao. Look at Star Vista. Even with a management team, no A&P means death. How grand the façade or how good the location also no use.

But KAP enjoys the advantage of its iconic presence. No taxi uncle will not know where KAP is. When I ask my clients to meet at KAP, every of them will say "Oh, that MacDonald's har." This is how iconic KAP has become. And hopefully this iconic status will be a crowd magnet in itself.

[sunboy77]

Wats A&P ?

Advertising & Promotion

[sunboy77]

Will there still be a macdonalds there, will be good for other businesses

Agents say developer kept 4 shops not for sale bcos they are renting to MacD, and MacD is a confirmed tenant already. Hopefully it will turn out true. This MacD is the biggest crowd puller and the commercial owners will breathe a relief if MacD is indeed returning.

[Regulators]

must have good tenants then can talk about AnP, can't be spending thousands to advertise for ppl to buy bubble tea or come for thai massage or a session of fortune telling

Besides tenant mix, (lack of) A&P is also another problem faced by strata shops. If the commercial landlords do not team up and conduct regular A&P, then also jialat liao. Look at Star Vista. Even with a management team, no A&P means death. How grand the façade or how good the location also no use.

But KAP enjoys the advantage of its iconic presence. No taxi uncle will not know where KAP is. When I ask my clients to meet at KAP, every of them will say "Oh, that MacDonald's har." This is how iconic KAP has become. And hopefully this iconic status will be a crowd magnet in itself.

[sunboy77]

must have good tenants then can talk about AnP, can't be spending thousands to advertise for ppl to buy bubble tea or come for thai massage or a session of fortune telling

Agreed.
Tenant mix is the most important thing. No good tenant mix = no crowd.

[Coolstuff]

Agents say developer kept 4 shops not for sale bcos they are renting to MacD, and MacD is a confirmed tenant already. Hopefully it will turn out true. This MacD is the biggest crowd puller and the commercial owners will breathe a relief if MacD is indeed returning.

Did the agents say any plan abt the supermarket?

[Regulators]

Bt timah plaza already has ntuc, unless cold storage comes in. But for small developments like oxley, I don't think the small sizes of the units would be sufficient for a big supermarket

Did the agents say any plan abt the supermarket?

[mygeemeel]

Agent told me MacD bought the restaurant space. They also bought the supermarket space to rent to cold storage. True or not? I don't care because i am not yowetan.

[Coolstuff]

Bt timah plaza already has ntuc, unless cold storage comes in. But for small developments like oxley, I don't think the small sizes of the units would be sufficient for a big supermarket

Got abt 4500sqft of space in B1 for supermarket. Not big, but better than other mixed developments which did not even cater such space for anchor tenant.

[rocco]

Hi...anyone been to the place and inquire about the price of one bedder or two bedder?

I been to the showflat last friday and found only 3 units for 2 bedder left. The price for 1 bedder ranges from 900K to 1.05M depending on unit size and facing. The agent told me 1 bedder can fetch up to 4K of monthly rental which I doubt so.... anyone has any idea what will be the rental for 1 bedder in BT area?

[Regulators]

Who would want to rent a 1 bedder for $4k in that area? I think 1 bedder at the sail going for that range.

I been to the showflat last friday and found only 3 units for 2 bedder left. The price for 1 bedder ranges from 900K to 1.05M depending on unit size and facing. The agent told me 1 bedder can fetch up to 4K of monthly rental which I doubt so.... anyone has any idea what will be the rental for 1 bedder in BT area?

[rocco]

Who would want to rent a 1 bedder for $4k in that area? I think 1 bedder at the sail going for that range.

yes, that's why i doubt so.. do you have any idea what's the rental like for 1 bedder or 2 bedder for that area?

[sunboy77]

yes, that's why i doubt so.. do you have any idea what's the rental like for 1 bedder or 2 bedder for that area?

My friend's Gardenvista 2-br was recently rented out at $4k. But she had agreed that she was lucky to get that price.

However, Gardenvista is older, and has no commercial components downstairs. And the MRT station is not up yet.

So I would say KAP 2br should fetch $4k+, to say being conservative at the least.

[Regulators]

Yes, one bedr at suites de laurel between $3-3.5k, just across the road from kap

yes, that's why i doubt so.. do you have any idea what's the rental like for 1 bedder or 2 bedder for that area?

[mm63]

$3-$3.5K for suites de laurel one bedr, really?

propertyguru listings start at $2.8K (which means can be negotiated lower)

Yes, one bedr at suites de laurel between $3-3.5k, just across the road from kap