Review on Guocoland, Intrepid Investments and Hong Leong Emerged As The Developer of The Avenir condo
The Avenir has been acquired by a tripartite joint consisting of GuocoLand (Singapore), Hong Realty, and Intrepid Investments. The collective sale at S$980 million is one of the largest sales within the last decade. The tender for the site attracted interest from a handful of foreign and local developers. Its high sale price was achieved higher than the reserve price of S$938 million by up to 4.5%.
GuocoLand and Intrepid Investments holds 40% stake each and Hong Realty holds 20% interest. Hong Leong Investment Holdings (HLIH) owns major shares in both Hong Realty and Intrepid Investments.
The development features about 290 apartments and 2 commercial units. The sale comes after 80% of the owners consented the en bloc sale. Owners of the units at the former Pacific Mansion each received between $3.36 and $3.48 million as proceeds from the sale. Each of the shop units was awarded between $2.2 million and $4.5 million.
With an existing gross floor area of around 493,222 sq ft, The Avenir price translates to S$1,987 psf ppr. Adding the 10% extra balcony gross floor area, its max allowable GFA is 542,544 sq ft which reflects around S$1,806 psf ppr.
Being a property situated in the centre of district 9, The Avenir enjoys a strategic location that is close to a plethora of amenities. It is both close to Orchard Road shopping belt, the central business district and the future Great World City MRT station.
Evaluation from consultants shows that the land cost for The Avenir may enjoy a breakeven price ranging between $2,530 and $2,800 psf ppr with an anticipated selling price of $3,000 to $3,200 psf.
BENEFITS THAT FUTURE RESIDENTS OF THE AVENIR WILL ENJOY AND WHY INVESTORS SHOULD CONSIDER RIVER VALLEY PROPERTIES
If you are looking for a place to rent or buy a property then River Valley area in district 9 of Singapore is a place to consider. Properties around this region are highly sought after because they are located on prime land. Living in this neighbourhood allows you to enjoy lots of benefits from access to awesome shopping centres to easy access to other parts of Singapore. Stretching from Robertson Quay to Alexandra Road, River Valley area offers you close proximity to the CBD while maintaining its tranquillity which makes it ideal for family living. This is one of the reasons that foreign expatriates love living in this neighbourhood.
In this guide, we show you some of the benefits that you enjoy if you make The Avenir your home. Here are some of the factors that make the River Valley area an exact perfect location for luxurious living in Singapore.
Distance From The Avenir To Great World City and Upcoming Great World MRT station
THE AVENIR CONDO – STRATEGIC LOCATION
River Valley area is situated at the heart of Singapore and features several landed properties, apartments, and posh condos. One of the factors that make this region attractive to expatriates as well as locals is its strategic location. Despite being a bustling area, the environment is calm, which makes it suitable for single and family-based households. Apart from being close to the CBD, access to amenities here is unrivalled.
The future residents of The Avenir will enjoy easy access to Orchard and city areas. Besides, the many eateries available here makes finding your favourite cuisine much easier. The Singapore River is just close by, and you can enjoy evening strolls after work as you explore the area. Just 1 min away is Robertson Quay. This great place offers you an excellent destination where you get to enjoy your dinner and drinks in relaxation overlooking River Singapore. Robertson Quay also makes a beautiful place for strolling in the company of your dog in a tranquil atmosphere.
With plenty of shopping amenities around and easy access, any shopping lover will appreciate staying in this neighbourhood. Some of the greatest local shopping malls such as the Great World City, Valley Point, and Liang Court are just within the vicinity. Here you can find any brand you can think of alongside great eateries to better your shopping experience. When Great World completes the major overhaul in just under about a year, we can expect the mall to be better equipped with bigger anchor tenants and this will bring about greater vibrancy to this location. Greater vibrancy will equate to more tenants as the location will be highly sought after by foreign expatriates and locals.
With the nearby well-known schools in the vicinity, it is no surprise that families truly enjoy this location in view of the convenience it brings for school going children to spend less time travelling and more time on revising in the comfort of home in The Avenir. There is easy access to reputable international schools that offer quality education to your kids, such as ISS International Elementary, Chatsworth International, and Middle School campus.
THE AVENIR – ENHANCED TRANSPORTATION
In terms of connectivity, you don’t need to worry about getting anywhere within the neighbourhood or other parts of Singapore. Transportation is enhanced to ensure that you get anywhere with ease. With plenty of amenities around, it will take you only a few minutes to get to the nearby shopping malls and get your daily necessities. The excellent connectivity also allows people working in town or school going kids to enjoy quick commutes.
Transportation is a breeze with the availability of several bus services that serve the area providing quick commutes. The nearby Orchard, Somerset, Dhoby Ghaut, and Newton MRT Stations connect this area with other parts of Singapore. For car owners, getting anywhere in Singapore is made easy with the established expressways and major roads.
THE AVENIR – PROXIMITY TO REPUTABLE SCHOOLS
While District 9 doesn’t record the highest number of schools in Singapore, the schools available are enough to provide for the education needs of the families around. The availability of reputable schools right next to your home at The Avenir condo is coupled with the excellent transportation ensures that your kids get to school and home on time. In case you are wondering which schools are available in the neighbourhood, here are some of them:
- River Valley Primary School
- Alexandra Primary School
- Margaret’s Primary
- Outram Secondary
- Gan Eng Seng
- Chatsworth International School
- School of the Arts
- ACT 3 International.
- International School Singapore Paterson Campus
Besides, the education needs of your young ones not yet attained the school-going age are not left out. You will find childcare centres and preschools conveniently located within the neighbourhood.