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.
PLENTY OF FOOD OPTIONS – THE AVENIR CONDO
The food options available at River Valley are unlimited. You can never miss your favourite food from nearby restaurants, food courts, eateries, food kiosks, bakeries, salad bars, and more. The proximity to most of these eating destinations allows the future residents of The Avenir to enjoy quick access. So, when you feel like trying something new outside your home menu, just head to these food options and get a bite of the delicious food. The food prices are also reasonable, and you can’t miss the food that fit your budget.
Burger+ at Wisma Atria
If you like burgers then this place is a must-visit. Their baggers are some of the best that you’ll find in Singapore. The food joint offers you juicy and tender patties that you won’t find anywhere else in the neighbourhood. When you visit here make sure to order freshly squeezed juice and beef tallow fries to eat alongside your burgers. With the quality services that the stuff here display, it can make an excellent destination for a date.
Toby’s Estate
Situated at Rodyk Street a few mins away from The Avenir is Toby’s Estate. This Australian-themed restaurant is a cool place you can chill out and sip your coffee as you enjoy the amazing view of the river. If you are a caffeine lover, then this is the place that will quench your caffeine deficiency to your satisfaction. The coffee is made by the World’s best brewers.
Robertson Quay
Robertson Quay is another wonderful destination that gives you a chance to chill out right next to Singapore River. The options at Robertson Quay are plenty. Some of the bars you can choose from including Les Bouchons Rive Gauche, Shabestan, Super Loco, Boomerang Bistro & Bar, Verre Wine Bar, and Bar Bar Black Sheep. When you visit here, look forward to an exciting mix that features restaurants, bistros, bars, and art houses. It is a great place to relieve yourself the weeks stress on a Friday night.
Other amazing destinations that you can visit in the neighbourhood when living at The Avenir include Five & Dime Eatery situated at 297 River Valley Road. It’s just 300m from your home. Common Man Coffee Roaster, sitting at 22 Martin Road is another incredible place you can head to. You will be surprised to see loyal fans waiting in line for seats. The experience here is unmatched and worth your time and money.
COOL CHILL-OUT SPOTS – THE AVENIR CONDO
River Valley is not short of amazing chill-out spots that will make your day. Just 6 mins drive away from our home at The Avenir is library@orchard situated in the shopping belt of Orchard Road. The library is well designed, considering that its idea revolves around lifestyle, applied arts, and design. This is one of the places you want to head to if you don’t like wandering around the malls. You can pick books with interesting topics to read or just go through the displays in this library. The library is divided into two; The Loft and The Studio. It offers you lots of reading options from its about 100,000 titles and programmes.
Also conveniently located at 1 Killiney Road is KPO. KPO is a great chillout spot in the neighbourhood where you’ll find great bar grub and all kinds of drinks as you get entertained by some of the best bands and DJs. However, with many people flocking here, you want to go a little earlier to find the comfiest couches and experience the vibrancy that this place offers. It makes an excellent destination for chilling out with friends as you enjoy drinks.
La Maison du Whisky is the largest retailer of whisky across Singapore. If you love whisky then you’ll enjoy living in this region and enjoy easy access to this great bar. The selection of whiskies here will take you by surprise. The bar offers over 100 Scotch whiskies, and you can also find rare international whiskies here. With more than 700 types of whiskies, you have more than enough, and there is no whisky, spirits or alcohol you can think of that is not available in this bar. To top that, they also make amazing cocktails which is why you want to tag along with your friends and enjoy incredible moments when you visit here.
Other bars in the vicinity that any adventurous drinker will enjoy include KUVO, and Acid Bar. Acid Bar is a destination of choice to music fanatics and barflies. Anyone who loves chilling with fancy live music in the background will appreciate what this place has to offer. Are these bars not enough? Head to Orchard Road and try the hip bars situated along Cuppage Terrace and Emerald Hill Road. You won’t miss a bar of your choice that will satisfy the alcoholic spirit in you.
WHY PROPERTIES IN CORE CENTRAL REGION ARE A BETTER INVESTMENT?
Here are some of the reasons why everyone wants to buy properties situated in the Core Central Region.
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Convenience
Its everyone’s dream to live in a place that offers unmatched convenience. Well, properties in the prime areas bring this into reality. Amenities are not just found within the vicinity, the transport system in the neighbourhood is enhanced allowing residents to benefit from the smooth commutes. Anything you can think of from schools, shopping centres, restaurants to parks are just a stone throw away.
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Good Rental Potential
It’s not a lie that properties in CCR enjoy a good rental potential since statistics confirm the figures. One of the main reasons why properties in this area enjoy high and consistent rental income is the strategic location that allows residents living here to access anywhere they want conveniently. Being close to the CBD also makes this place attractive to people working there. With high demands for the units, the rental yields are definitely going to increase.
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Strong Sales
The sales transactions from URA shows that more properties in this region have been sold as compared to other regions. The estimates from the 1stQuarter of 2018 show an increase in private residential properties by 4.3 points from the previous 138.7 points in the 4thQuarter of 2017. This shift reflects a 3.1% increase which is higher than the 0.8% in the previous quarter. The increase in prices is caused by the rise in demand for properties in this area. Properties here also enjoy high capital appreciation due to their excellent location and will result in high prices in the future.
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Consistency
Like said, properties in CCR enjoy high capital appreciation, which allows them to fetch high prices. Unlike properties in OCR and RCR, properties in CCR are not affected by high vacancy and oversupply, which in turn leads to low rental income. This makes properties in CCR the best investment option for anyone looking forward to enjoying rental yields.
