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Thread: Gallop Gables - Good Investment for long term?

  1. #1
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    Jun 2009
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    Smile Gallop Gables - Good Investment for long term?

    Any views on this project?

    Straits sold more than 40 units in about a month.

    And these are not smallish units of 300sf to 400sf types. Absolute investment cost is easily a cool $3 to $4 million!

    Now the asking has gone up to $1400 to even $1600 psf.

    I know land is hugh for only 140 units. Hence the underlying value is there. Near to NYPS. MRT is very very near too.

    Is it still worth buying? What you think is a fair and attainable price now for a 2 bedder?

    Million thanks for all advice, positive or negative.

  2. #2
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    actually, straits did promise a rental guarantee for some of the units. I would think that based on 1400psf, the yield if the unit is tenanted at the low reantals this moment would be quite low. I also have a curious question because I noticed some of the units are single storey 2756sq ft. Nearby, the Duchess Residences penthouse is also 2756sq ft. Assuming both are asking 1400psf, which would be a better buy? Gallop is 12 years old but supposedly at a better location right beside Farrer MRT. Duchess Residences would be completed next year. If the tenant drives (likely so to rent a 2756sq ft apartment), surely the rental would be higher for the Duchess penthouse than the Gallop Gables unit?



    Quote Originally Posted by nobrainer32007
    Any views on this project?

    Straits sold more than 40 units in about a month.

    And these are not smallish units of 300sf to 400sf types. Absolute investment cost is easily a cool $3 to $4 million!

    Now the asking has gone up to $1400 to even $1600 psf.

    I know land is hugh for only 140 units. Hence the underlying value is there. Near to NYPS. MRT is very very near too.

    Is it still worth buying? What you think is a fair and attainable price now for a 2 bedder?

    Million thanks for all advice, positive or negative.

  3. #3
    Join Date
    Jun 2009
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    Default

    Duchess is new under construction. I think psf is higher cos launched at peak. i believe owners are holding back now till can make money.

    New means plot is maximised.

    Gallop is old but charming. The market and food centre are big pluses. When circle line is up, only one stop from Holland V.

    Old also means plot ratio not maximised. the project can be redevloped into part 12-storey and part 5-storey. Now only part 4-storey and part 5-storey.

    I am looking into long term. Enbloc may not be here too soon but it does provide some base value. plus Capitaland's 99-year Farrer court project will provide a base price for older freehold projects like gallop.


    just my thoughts.

    Pls share as I making my move soon. Thanks


    Quote Originally Posted by bargain hunter
    actually, straits did promise a rental guarantee for some of the units. I would think that based on 1400psf, the yield if the unit is tenanted at the low reantals this moment would be quite low. I also have a curious question because I noticed some of the units are single storey 2756sq ft. Nearby, the Duchess Residences penthouse is also 2756sq ft. Assuming both are asking 1400psf, which would be a better buy? Gallop is 12 years old but supposedly at a better location right beside Farrer MRT. Duchess Residences would be completed next year. If the tenant drives (likely so to rent a 2756sq ft apartment), surely the rental would be higher for the Duchess penthouse than the Gallop Gables unit?

  4. #4
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    i see some adverts for duchess where a few owners willing to cut loss at 1400psf+ mah, so i thought price could be comparable. i doubt original buyers can make money, purchase price is too high. Plot may be maximised but still not too bad. 5 storey development, 152,000 sq ft land for 120 units. Of course, Gallop is even better for land/unit ratio, 200,000+++sq ft for 140 units.

    the market and FC really needs to upgrade when all these new farrer court, waterfall gardens etc are completed. otherwise it will be quite odd.

    i am not sure when and what price farrer court will be launching but it could take quite awhile. and normally, for famous achitect designed unique buildings (eg reflections), the 99 year leasehold tag seems to have little impact. the new farrer court will also be very high rise at 30+ storeys so both gallop and duchess becomes not very comparable. Nonetheless, currently, both should find support at 1300+ while farrer court is likely to be launched only when the market can absorb its units at 1500 to 1900psf.




    Quote Originally Posted by nobrainer32007
    Duchess is new under construction. I think psf is higher cos launched at peak. i believe owners are holding back now till can make money.

    New means plot is maximised.

    Gallop is old but charming. The market and food centre are big pluses. When circle line is up, only one stop from Holland V.

    Old also means plot ratio not maximised. the project can be redevloped into part 12-storey and part 5-storey. Now only part 4-storey and part 5-storey.

    I am looking into long term. Enbloc may not be here too soon but it does provide some base value. plus Capitaland's 99-year Farrer court project will provide a base price for older freehold projects like gallop.


    just my thoughts.

    Pls share as I making my move soon. Thanks

  5. #5
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    Dec 2008
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    Default

    Quote Originally Posted by bargain hunter
    actually, straits did promise a rental guarantee for some of the units. I would think that based on 1400psf, the yield if the unit is tenanted at the low reantals this moment would be quite low. I also have a curious question because I noticed some of the units are single storey 2756sq ft. Nearby, the Duchess Residences penthouse is also 2756sq ft. Assuming both are asking 1400psf, which would be a better buy? Gallop is 12 years old but supposedly at a better location right beside Farrer MRT. Duchess Residences would be completed next year. If the tenant drives (likely so to rent a 2756sq ft apartment), surely the rental would be higher for the Duchess penthouse than the Gallop Gables unit?

    yes straits did a rental guarantee of 7% back in Mar, and with psf at 1100 back then it is an excellent investment imo..

    due to gd response price subsequently raised to 1300 & 1400psf .. not so gd anymore lol

  6. #6
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    Default Look around that spot

    I have been wondering about Gallop Gables too. So long as condos nearby are priced at a 40% discount to Gallop, I believe buyers will always be vulnerable on their investment.

    Since the prices have gone waay up, I have started looking at Sommerville Grandeur & Sommerville Park - both of these are currently asking around 1K psf. Sommerville Grandeur is the same age as Gallop Gables, but is a much smaller development, with smaller apartments. It's also within 1km of Nanyang Primary. Sommerville Park is much older but strong rental demand, particularly for the maisonnettes.

    Gallop looks much nicer though the large areas (3BR is >2000 sqft) does take serious cash out of the pocket.

    But do benchmark vs. Sommerville Grandeur. Gallop can have a premium but not so much.

  7. #7
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    All the surrounding projects have also gone up in prices!

    I am only looking only at 2 bedders. There are one or two units available for sale now. I don't mind paying $1300-$1400 psf due to the small size (which should command higher $psf) and provided it is tenanted at reasonable rental.

    Any idea when is the MRT operational?

    Quote Originally Posted by dragonred
    I have been wondering about Gallop Gables too. So long as condos nearby are priced at a 40% discount to Gallop, I believe buyers will always be vulnerable on their investment.

    Since the prices have gone waay up, I have started looking at Sommerville Grandeur & Sommerville Park - both of these are currently asking around 1K psf. Sommerville Grandeur is the same age as Gallop Gables, but is a much smaller development, with smaller apartments. It's also within 1km of Nanyang Primary. Sommerville Park is much older but strong rental demand, particularly for the maisonnettes.

    Gallop looks much nicer though the large areas (3BR is >2000 sqft) does take serious cash out of the pocket.

    But do benchmark vs. Sommerville Grandeur. Gallop can have a premium but not so much.

  8. #8
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    Default Farrer Road MRT

    MRT is 2011 as per our good old Wikipedia

  9. #9
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    My 2 cents worth.. .

    Gallop Gables is a no brainer, especially if you are looking at it for long term.

    It has a nice livable area for own stay. For rental, big units will always be preferable to small ones.

    For enbloc potential? well, it is not going to happen in the next 2 years, but sit on it for 10 years, eventually it will happen.

    Most importantly, the place is very nice and livable. If all else fails, i won't mind living there...

    (no vested interest)

  10. #10
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    One 2 bedroom unit has just been sold at around $1400 psf!

    Price is surely moving up.

    Has anyone know what is the enbloc potential of this development? According to some pictures in propertyguru, the land area is 269,000 sf (!!) and there are only 140 units in total. Will there be any bonus plot ratio because it is so near to MRT?? Or any good chance for revised plot ratio in the next master plan?

    need to justify the higher $psf


    Quote Originally Posted by pweesng
    My 2 cents worth.. .

    Gallop Gables is a no brainer, especially if you are looking at it for long term.

    It has a nice livable area for own stay. For rental, big units will always be preferable to small ones.

    For enbloc potential? well, it is not going to happen in the next 2 years, but sit on it for 10 years, eventually it will happen.

    Most importantly, the place is very nice and livable. If all else fails, i won't mind living there...

    (no vested interest)

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