This is my review on Avenue South Residence by UOL group and Kheng Leong Co. Located in the Bukit Merah area. Developer’s price will be released on balloting day and brochure is available upon request. The show flat is located along Alexandra View (Opposite Echelon)

 

 

Avenue South Residence – A 99-years leasehold residential development located along Silat Avenue. It comprises of 988 units across 2 residential blocks and 5 blocks of conserved 4-Storey (86 units) and shops and childcare centre (Estimated 5-7 units). The unit types range from 1-bedroom to 4-bedroom layouts. This project is the result of government land sales at $1.04 billion by the group of UOL Venture Investments, UIC Homes, and Kheng Leong Company

 

Location and Surroundings:

Avenue South Residence is located in the Bukit Merah area that is just minutes walk to CBD and is located next to the section of the rail corridor that the government has plans to turn it into a community space for the residents. The nearest MRT Station will be Outram MRT station however, it is not within reasonable walking distance. Even though there are currently no nearby retail and f&b options in close proximity of Avenue South Residence, five heritage buildings on the site have been restored to serve the dual purpose of a residential as well as a commercial space. There are several factors to consider for Avenue South Residence’s future appreciation.

 

Circle line completion by 2025

By 2025, commuters will be able to enjoy a direct route between areas in the west like Pasir Panjang and Kent Ridge and key employment areas in the CBD, as well as upcoming developments in the Marina Bay area. Avenue South Residence is approximately 7 minutes walk to Cantonment MRT station. Today, commuters have to make multiple transfers to get from Telok Blangah to Marina Bay station. With CCL6, commuters will be able to do that in a single train ride, saving one third travelling time.

 

 

Source: LTA website

Good schools nearby 

There are several good schools near Avenue South Residence such as CHIJ, Radin Mas Primary (Ranked 26th in Singapore based on statistics) and Shelton International College.

Source: Streetdirectory

 

Greater Southern Waterfront City

In his National Day Rally speech, Prime Minister Lee Hsien Loong expanded on Singapore’s plans to redevelop the Greater Southern Waterfront, which he first spoke about in his 2013 rally

Clip from Prime Minister Lee Hsien Loong’s National Day Rally 2013

NDR 2019: PM Lee on redeveloping Singapore’s Greater Southern Waterfront

The plans involve the consolidation of operations at the City Terminals (Tanjong Pagar, Keppel) and Pasir Panjang port terminals to Tuas, the transformation of the area currently used by Keppel Golf Links and possibly Harbourfront Centre and some parts of the Pasir Panjang neighbourhood.

“It may take 10-15 years, but usually if it’s in URA’s plan, we will get there”

Tanjong Pagar terminal has been relocated ahead of schedule. With the relocation of 500 staff from the older Tanjong Pagar Terminal to the newer Pasir Panjang Terminal, URA can start making measurements and drawing up plans for this part of the GSW (Greater Southern Waterfront). With the freed-up space, the government has a blank slate to design and execute their plans for the GSW. One of the first developments will be on the plot occupied by the Keppel Club, whose lease will expire in two years’ time (2021). It will be remade into a residential quarter with both public and private housing.

Kent Ridge Hill Residences - a 99-year leasehold new launch by Oxley Holdings comprised of 525 apartments & 68 units of Strata Landed house on a large site. Kent Ridge Hill Residences is the result of  collective sale of Vista Park in South Buona Vista Road has  at S$418 million, which works out to about S$1,096 per square foot per plot ratio (psf ppr), inclusive of an estimated S$72 million payable to the state to top up the site's lease to 99 years. 

URA Masterplan 2014. Yellow zoning is for reserved land

Price & Comparisons

There are a couple of new projects which was launched a few months ago namely, Sky Everton and One Pearl Bank.

Sky Everton’s average transacted price psf

One Pearl Bank’s average transacted psf

Do note that Sky Everton is a freehold development that was launched first. They had great sales results selling 102 of 262 units in less than a month after sales launch. I believe Avenue South Residence will be priced in the range of S$2,100-2,200 psf during their sales launch as the location for Avenue South Residence is not as ideal as the rest.

*Approximate sales launch average psf of Avenue South Residence

The difference that makes Avenue South Residence more appealing, is the unblocked southern views towards Keppel Terminal and Sentosa on higher floors. It is also closer to the future Greater Southern Waterfront compared to the other projects.

Average price psf of surrounding resale projects around Avenue South Residence. Source: Streedirectory

Considering the average price psf of surrounding resale projects around the area, I believe the reasonable entry price for Avenue South Residence should be around $2,000-$2,100 psf to have an upside for capital appreciation.
Developer’s Track Record
Avenue South Residence is developed by a joint venture consortium of UOL Group Ltd. and Kheng Leong Co. and UIC Ltd.
UOL – One of the top-performing Singapore listed companies with a rich portfolio of investments and developments properties, serviced suites and hotels. Some their recent notable developments include The Tre Ver, Meyer house and Amber 45. 
Kheng Leong Co. – An international commodity and spice trading company. The company has grown over the years keeping pace with the evolving business landscape to become an investment group with interests in real estate investments and property development. Today, the company’s portfolio features a range of development projects and businesses through direct investments or partnerships with strategic partners.
UIC Ltd.– A private company and was later listed in 1969 as a public company. Their major operations are investment and property developments. The company has been successful over the past acquiring majority equity of Singapore Land Limited, an established property company in 1990. 
Fittings and Finishing
  • Samsung Digital Lockset
  • Built-in wardrobe with laminate and/or melamine finish
  • De-Dietrich kitchen appliances
  • Laufen (Peak Collection) and Duravit (Horizon Collection) for Sanitary wares
  • Smart Home Hub
This developer is well-known for providing high-quality finishes. The De-Dietrich kitchen appliances are sleek and typically found in high-end residential apartments. I like their quartz kitchen countertops that are come in golden to red-brown colour as it will have more longevity from being discoloured compared to lighter shades. There are also smart home features included which is so useful for future homes.
Site Plan
Views
The connectivity from the revamped railway corridor is one of the highlights of this development. Regardless if you are taking a casual stroll or hiking, the railway corridor provides residents with a connected route which stretches pass Bukit Timah and ends at woodlands. There are many interesting sights along this route, this inclusion definitely entices outdoorsy people.
Floor Plans
Perspectives
Avenue South Residence has great potential for price appreciation as there are multiple new developments in future such as Greater Southern Waterfront. The entry price is significantly lower than nearby new launches such as One Pearl Bank and Sky Everton. I am very pleased with the high-quality finishing and appliances provided by this developer. This project is considered a full-scale condominium development with more than 1000 units, what this entails is that landlords can achieve target rental yield, without absorbing high maintenance fees. Although it is not conveniently located close to amenities, Avenue South Residence has commercial units within its compound so residents do not need to travel too far from home to get daily necessities.   

Location:⭐⭐⭐3/5

Value for money: ⭐⭐⭐⭐ 4/5

Future appreciation:⭐⭐⭐⭐⭐5/5

 

If you would like to have the Avenue South Residence brochure, floor plans or pricing, do inform us. Feel free to drop a message, we will get back to you shortly.

 

While every reasonable care has been taken in preparing this website, the agents cannot be held responsible for any inaccuracies or omissions. Visual representations, illustrations, photographs, art renderings, and other graphic representations and references are intended to portray only the artist’s impressions of the development and cannot be regarded as a representation of fact. All information, specifications, renderings, visual representations and plans are correct at the time of publication and are subject to change as may be required by us and/or the competent authorities and shall not form part of any offer or contract nor constitute any warranty by us and shall not be regarded as statements or representations of fact. All facts are subject to amendments as directed and/or approved by authorities.