The Reserve Residences in Beauty World Mrt Station Is a Mixed-Use Project That Will Feature Residential and Commercial Spaces

River Valley Unit Oleanas Residence reaps $1.9 mil profit

Two of the most rewarding deals over the week of June 14 to 21 were for devices negotiated at Oleanas House, located in the River Valley area in Area 9.

2 devices at Oleanas Residence were sold on June 14 as well as 15, gaining revenues of $1.86 million and also $1.41 million respectively. The sale of a 1,550 sq ft system on the 15th flooring made the top gain of $1.86 million after the system altered hands for $3.1 million ($ 2,000 psf) on June 14. This likewise notes a new psf rate high for systems transacted at Oleanas Residence.
The vendor had actually purchased the system in May 1999 for $1.24 million ($ 799 psf). Consequently, they enjoyed a 150% revenue over a holding duration of 23 years, or an annualised revenue of 4.1%.

The Reserve Residences in Beauty World Mrt Station Is a Mixed-Use Project That Will Feature Residential and Commercial Spaces

The Reserve Residences in Beauty World MRT Station is a mixed-use project that will feature residential and commercial spaces. Its location is very convenient as it will be near the Integrated Transport Hub and beauty world MRT station. The Reserve Residences will also feature a pedestrian network connecting two areas. The development will include several parks and transportation nodes, an indoor sports hall, office spaces, and retail space. It is also expected to be affordable compared to other condominiums in the vicinity.

The development will be an upscale residential complex that will feature 865 private lodging units and 150 service apartments spread over three-and-a-half hectares. It will also feature retail space, community libraries, and an elderly care centre. The Reserve Residences is expected to be completed by 2022 and will be linked to Beauty World MRT station. It will feature a vibrant lifestyle destination and a community hub that will serve as a focal point for the entire neighborhood.

The Reserve Residences is part of a larger plan to revitalize the area. The concept tender will invite designers to submit conceptual designs and price quotes for the project. The winning concept will be integrated into a district revitalization plan that includes several public amenities and pedestrian networks. If approved, the development could start as early as 2022. The Reserve Residences will offer 1, 2, and 4-bedroom units. The development will be 6 minutes’ walk from Mountbatten MRT station.

The Reserve Residences Integrated Development is a new mixed-use project that will offer residential and commercial units spread over three to two levels. It will also feature excellent connectivity to the surrounding areas, such as Little India, which is expected to be the main focus of the development. As far as the cost of the units is concerned, the reserve is likely to be affordable compared to other condominiums in the area. However, it should be noted that the Reserve Residences will not be without its fair share of disadvantages.

Meanwhile, the sale of an additional system at Oleanas Residence– a 1,238 sq ft device on the 16th flooring– was the third most successful transaction of the week, after it altered hands for $2.4 million ($ 1,939 psf) on June 15. The system was likewise bought in May 1999, priced at $986,686 ($ 797 psf). Therefore, the seller took pleasure in a $1.41 million (143%) revenue on the purchase or an annualised revenue of 3.9% over the 23-year holding duration.

Oleanas Residence is a 130-unit freehold condominium developed by Bonvest Group that was finished in 1999. Devices consist of two-, 3- as well as four-bedders, with dimensions ranging between 1,141 as well as 2,206 sq ft. Located on Kim Yam Road, the condo is close to various stores as well as restaurants along Robertson Quay. It is also near to Fort Canning Park, while the Orchard Road buying belt is a three-minute repel.

At Haig Court, a system enjoyed a gain of $1.48 million, making it the second most rewarding offer of the week. Measuring 1,464 sq ft, the second-floor device was sold for $2.25 million ($ 1,537 psf) on June 14. The system was acquired in November 2005 for $770,064 ($ 526 psf), meaning the seller netted a 192% earnings or an annualised profit of 6.7% over a holding duration of around 16 1/2 years.

Haig Court is a property development along Haig Road in District 15’s Tanjong Katong area. Completed in 2004, it consists of 4 towers with an overall of 360 units.

On March 4, a 1,475 sq feet device on the 2nd floor was sold for $2.4 million ($ 1,627 psf), resulting in a profit of $1.45 million for the seller, that had acquired the unit in May 2007 for $949,900 ($ 644 psf). Prior to that, a 1,076 sq feet device on the 12th floor was offered for $1.76 million ($ 1,634 psf) on Feb 15.

Data from the EdgeProp Research device revealing the checklist of successful deals at Haig Court
The most unlucrative transaction for the week was for a 936 sq feet unit at The Tennery. The vendor experienced a loss of concerning $128,000 (10.9%) after the system was sold for $1.05 million ($1,121 psf) on June 17. The device was previously bought for $1.18 million ($1,258 psf) in March 2012, implying the seller saw an annualised loss of 1.1% over a holding period of around 10 years.
The Tennery is a 99-year leasehold condo situated at the junction of Woodlands Road and also Choa Chu Kang Road. Finished in 2013, it belongs to an incorporated growth without a doubt East Organization. The apartment sits on top of the Junction 10 shopping mall, which in turn is straight linked to the Ten Mile Junction LRT Station and also the Bukit Panjang MRT Station.

The Tennery has actually seen a total amount of 17 transactions year-to-date. The systems, ranging in dimensions from 614 sq ft to 936 sq ft, have actually been sold at prices from $716,000 to $1.05 million, or between $1,052 psf and $1,271 psf.

The sale of another system at Oleanas Residence– a 1,238 sq ft unit on the 16th floor– was the 3rd most lucrative purchase of the week, after it changed hands for $2.4 million ($ 1,939 psf) on June 15. Gauging 1,464 sq feet, the second-floor system was marketed for $2.25 million ($ 1,537 psf) on June 14. On March 4, a 1,475 sq feet unit on the 2nd floor was offered for $2.4 million ($ 1,627 psf), resulting in a profit of $1.45 million for the seller, that had actually purchased the system in May 2007 for $949,900 ($ 644 psf). Prior to that, a 1,076 sq feet device on the 12th flooring was marketed for $1.76 million ($ 1,634 psf) on Feb 15. The seller suffered a loss of about $128,000 (10.9%) after the system was offered for $1.05 million ($1,121 psf) on June 17.

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