Piccadilly Grand Evaluation: A Handy Metropolis Fringe Apartment With Built-in Growth Advantages – Property Weblog Singapore

It’s been a while since I reviewed a brand new launch condominium – and that claims loads, or the dearth thereof, about new launches in 2022. As the primary main launch (excluding EC – North Gaia launched in early April) following December’s cooling measures, anticipate Piccadilly Grand’s reception to be intently watched by market observers. Will patrons be extra selective of their purchases or will the red-hot demand proceed into 2022?

This Northumberland web site was gained by first-time JV companions CDL and MCL through a Authorities Land Gross sales (GLS) tender in 2021 for $445.9 million ($1,129 psf). The tender was effectively wanted and attracted 10 bidders as new personal residential provide ran skinny and the profitable margin over the second-highest bidder was a mere 5.7%. For comparability’s sake, the final GLS (Uptown @ Farrer) within the neighborhood was in 2017 at $1,001 psf, making Piccadilly Grand 13% dearer on a land price foundation. Let’s see how this performs out for the sale costs in our Value Evaluation part. 

Now we have some indicative costs for Piccadilly Grand. 1 Bed room items are anticipated to price upwards of $1.058 million ($2,186 psf), 2 Bedrooms from $1.348 million ($2,086 psf), 3 Bedrooms from $1.788 million ($2,024 psf), 4 Bedrooms Twin Key from $2.738 million ($1,986 psf) and $3 million and up ($1,896 psf) for five Bed room items. There’s not an excessive amount of of a shock right here, the costs are usually in step with analyst expectations primarily based on the price of land offered.  

Piccadilly Grand’s primary promoting level lies in its built-in nature – with direct entry to Farrer Park MRT, a retail element named Piccadilly Galleria downstairs, and a childcare centre for each residents and the neighbourhood. Specifically, there’s nice attraction to direct MRT entry because it actually helps to avoid wasting on journey time. The plus level of getting an underground line at Farrer Park means you don’t should endure the noise air pollution from the prepare tracks – that’s undoubtedly an enormous plus to me. 

Since we’re on the purpose about Farrer Park, let’s chat extra about this neighbourhood. These aware of the world will discover that many surrounding roads round Piccadilly Grand tackle British-inspired names – Oxford, Cambridge, Durham, Gloucester, Dorset, and naturally, Northumberland, the place Piccadilly Grand is located. 

Consequently, the builders have taken benefit of the world’s emphasis on its British roots to call this growth Piccadilly Grand, after the synonymous Piccadilly Circus, one in every of London’s iconic places with its neon shows and bustling exercise around the clock. Whereas I gained’t go so far as to say that Farrer Park is the Piccadilly of Singapore, it’s certainly one of many extra bustling areas at evening, with iconic late-night spots corresponding to Mustafa and Swee Choon shut by.

I’m certain you’re excited to search out out extra about Piccadilly Grand so let’s get proper to the Insider Tour! 

Piccadilly Grand Insider Tour

Piccadilly Grand contains three 23-storey towers alongside Northumberland Highway within the Farrer Park precinct, with a complete of 407 residential items that vary from 1 to five Bed room varieties. Sizes fluctuate from 484 sqft to 1,679 sqft and as regular, we will likely be trying out the items on the present flat later on this overview. So far as new launches go that is thought of to be a smaller mid-sized challenge, and you’ll say it’s a good dimension for these on the lookout for the right combination of amenities with out it being too dense in nature as effectively.

Piccadilly Grand has sheltered and direct entry to Farrer Park MRT (constructed over the prevailing Exit E of Farrer Park MRT station) and a retail element named Piccadilly Galleria downstairs. The latter will make up greater than 16,000 sqft of retail and F&B shops, including to the already plentiful provide of meals choices shut by. In the event you want any additional indication, simply look reverse the precise web site – at Race Course Highway, you have already got various F&B shops together with Muthu’s Curry in your patronage. 

Do notice that there are 9 totally different exits at Farrer Park MRT station, so this will join you fairly simply to the encircling areas.

As for the retail area, it’s only anticipated to reinforce the comfort you’ll find shut by at Metropolis Sq. Mall and Mustafa – however don’t anticipate it to exchange them fully as a result of its smaller dimension. To present you a clue, Metropolis Sq. Mall (450,000 sqft of NLA and by the identical developer CDL) and Mustafa (400,000 sqft of retail area) are nearly 25 to 30 instances bigger than Piccadilly Galleria. The one right here is simply anticipated to deal with 14 retailers, so it isn’t going to be a retail/eating powerhouse by any means.

However the good factor right here is that it’ll all be managed by CDL, so there ought to be some curation right here by way of the tenant combine.

Past its retail and F&B areas, there may be additionally a 5,000+ sqft childcare centre right here, which is able to come in useful for younger mother and father staying at Piccadilly Grand or within the neighbourhood. I don’t have the sizes of different childcare centres available however 5,000 sqft is a good dimension. There will even be a coated linkway connecting the Farrer Park View HDB property to Piccadilly Galleria and the MRT, offering additional comfort to the residents close by. 

You’ll be able to already think about how fuss-free life might be right here – you get dwelling through Farrer Park MRT, choose up some groceries at Piccadilly Galleria, and your child from the childcare care – all finished inside a 5-minute strolling radius or much less. It’s a handy life-style that built-in developments promote, and up to now it’s been a success with Singaporeans. Latest built-in developments corresponding to Pasir Ris 8, Sengkang Grand Residences, and Midtown Trendy are all near promoting out. So going by that pattern, you’d anticipate Piccadilly Grand to do effectively right here.

Arrival at Piccadilly Grand by automobile will likely be through Northumberland Highway, off Race Course Highway. That is the place the Guardhouse will likely be positioned and the place you and your friends will likely be dropped off. Provided that the land plot excluding the retail, F&B, and childcare centre will not be precisely big, the residential drop-off level will not be going to be some grand train. As an alternative, it is going to be tucked away contained in the automobile park. There’s not a lot fanfare right here, so I don’t anticipate it to be implausible. I doubt anybody actually minds anyway, as the principle promoting level right here will not be an opulent life-style play.

As it’s hidden from the present flat mannequin, you might need to train some creativeness right here. 

Properly, no less than you’ll arrive on the correct Arrival Clubhouse, able to welcome you dwelling on the first ground. The primary of three ‘Clubhouses’ will home the welcome reception, arrival foyer, and lounge. As with the pattern of sensible properties, there will even be a wise parcel characteristic so that you can choose up your on-line orders whenever you get dwelling. I do suppose that having multiple clubhouse is sensible to forestall an excessive amount of overcrowding from occurring in a single place, significantly on a plot that’s fairly elongated in form.

Relying on which block you reside in, there will likely be 2 to three storeys of automobile park catering for 80% of items (330 automobile park tons, together with 3 Electrical Car EV tons). I reckon that this will likely be greater than enough on condition that Farrer Park MRT is straight linked to the event and there will likely be various tenants or residents who don’t drive. Even with out the MRT, its city-fringe location means getting round by different types of public transport will even be a breeze. There will even be 14 industrial tons for many who go to Piccadilly Galleria, so there may be some separation there.

Whereas the norm is normally basement parking, the one right here will likely be above floor as an alternative. It’s a cost-saving method utilized by builders whereas additionally making certain that decrease ground items have a buffer between their items and the street. Which means that items at Piccadilly Grand can have ~12m between them and the street, making certain that there’s full privateness from any prying eyes from the general public. I’d nonetheless choose an underground automobile park, however having that privateness right here is sensible given the central and bustling location.

To additional orientate you, Piccadilly Grand has 3 ranges of amenities (1st, third, and 4th) and a complete of 5 zones to go well with the totally different life-style wants of residents. Many of the amenities (3 zones) will likely be discovered on the 4th ground. 

As Block 5 doesn’t have a third ground automobile park, this area will likely be dwelling to the Botanical Zone as an alternative. The Botanical Zone on degree 3 will not be an enormous area and aspires to be precisely what it’s named. Relying in your desire, essentially the most purposeful area might be the Botanical Spa Pool, which is usually a quiet spot for leisure. Different areas embody the Rest Courtyard, Secret Backyard and Botanical Deck, all of which look like fancy phrases describing numerous manicured spots on the ground. It’s additionally value noting right here that Block 5 will likely be set on a degree decrease than the remaining, so that you’d have to climb a small flight of stairs to get to the remainder of the amenities.

Moreover, in step with the theme of the zone, there’s a tranquility spa, wellness garden, and wellness lounge, all of that are presumably created to permit one to really feel zen and at peace. I personally don’t all the time discover these present that a lot worth, however I suppose in a busy metropolis location there might be some profit right here.

Shifting on to the 4th ground, which is the place you discover the Tranquility, Vitality, and Social Zones. Beginning first with the Vitality Zone, which is the place the usual lap pool will likely be. Nonetheless, not like most new launches of this dimension, that is, quite disappointingly, not a 50m lap pool however a 35m one as an alternative. For a growth with 407 items on a decently sized land plot, I might anticipate a 50m pool to be an inexpensive expectation, particularly when it’s the solely primary pool right here. In any case, if it’s any saving grace, the width of the pool is fairly good at 10m, which ought to accommodate between 4 to five folks swimming on the similar time. 

You do have a child’s pool too, which is able to hopefully assist with the crowds round the principle pool. I’d anticipate weekends to be a packed characteristic right here.

Pool Decks will line the size of the pool, which is all the time a pleasant contact for residents to laze round to learn a guide or get a tan, particularly on the weekends. In the event you choose a bit extra shade, there’s additionally a poolside cabana that fronts all the size of the pool.

Floor ground items can have fast entry to the pool. It’s good for households with kids who like to swim, but it surely does include the standard draw back of privateness.

However, in case you’re extra within the eating facet of issues, there may be additionally a Connoisseur Grill Pavilion with an identical view. Nice for many who need to host with a view over the principle pool!

Since I used to be on the subject of the lap pool earlier, let’s transfer on to the Social Zone, which is on the nook of the event beside Stacks 1, 5, and 6. Anticipate this to be a quieter area and you’ve got one other pool right here, though that is an excellent small one. It’s considerably triangular in form, and measures about 16m by 13m and aptly named the Household Pool since you’ll in all probability not be doing many correct laps right here. However, the builders have nonetheless supplied deck chairs right here in case it’s ever quiet, or so that you can lie whereas watching your youngsters frolic within the pool.

For the kids, you could have a Child’s Play Pool shut by, along with the Youngsters’ Play space. The Multipurpose Court docket may additionally doubtlessly be a play space when it’s unoccupied.

In any other case, I spot a mini rock-climbing wall right here so I’m guessing this is among the many functions this space may accommodate. There additionally look to be strains drawn for two half basketball courts, though I’ll should be enlightened as to what sports activities the opposite strains is likely to be drawn for. 

I’m glad that the builders have integrated some play areas right here, which is necessary given the first rate variety of 3 Bed room and above items right here. So you possibly can inform, there may be undoubtedly a concentrate on attracting household items right here.

For these with pets, there’s even a Pets’ Play space though it undoubtedly doesn’t look to be an enormous area to run about for the furry ones. Properly, you could possibly say that having one is best than none after all.  

The Social Zone additionally has the 2nd of the three clubhouses at Piccadilly Grand. Right here, you could have 2 operate rooms for any necessary conferences you could want to conduct. As well as, you even have the Fitness center and Altering Room on this zone. The Fitness center fronts the pool deck and household pool, which is best than having no view in any respect. 

Lastly, let’s head to the Tranquility Zone, the place you will discover the ultimate of the three clubhouses. The one right here has a co-working lounge, which has turn into a pattern for a lot of COVID new launches, and is useful for many who work in corporations that proceed adopting a hybrid work coverage. Pity those that have had to return fully although!

There’s additionally a wellness studio and a eating room that’s absolutely geared up with the kitchen home equipment you require for entertaining when friends come over. With the pandemic (hopefully) behind us now, these amenities that we’ve been seeing in new launches over the previous 2 years are seemingly now rather more tantalising in prospect!

Lastly, let me contact on slightly of the design. As all the time design is a really subjective opinion, and I’m simply offering slightly extra of my take. To start out, whereas the facade appears to be like fashionable, I did suppose that total it was slightly too darkish for my liking. Total, it’s a stable, however unspectacular design.

In some way it appeared like one thing brighter and extra vibrant would have melded higher with the neighbourhood at Farrer Park. That mentioned, I do suppose that that is in step with what their audience is on the lookout for, so maybe I’m simply not of the precise match right here!

And so with out additional ado, let’s head straight for the present flat items.

Piccadilly Grand – 2 Bed room + Examine Sort B3S (66 sqm/710 sqft) Evaluation

The two Bed room format is essentially the most predominant unit sort at Piccadilly Grand and all of them include 2 loos, regardless of the smallest being simply 646 sqft (the smaller varieties don’t include a balcony). At 710 sqft, this present flat unit is averagely sized among the many new launches.

CDL and MCL Land are business veterans they know precisely what Singapore patrons want in a unit at the moment. There are undoubtedly plus factors to this present flat structure, with a dumbbell structure, a examine that doubles up as a storeroom, and a jack-and-jill lavatory for the widespread bed room. It’s as environment friendly as might be for a unit of this dimension, and most patrons ought to be happy with such a structure.

Beginning first on the entrance, the flooring supplied will likely be porcelain tiles for the dwelling and eating rooms and engineered timber for the bedrooms. 4 and 5 Bed room items will get imported marble, which is the extra premium selection right here, and the standard market follow to distinguish between the unit varieties. The ceiling top could be very common at 2.8m, though high ground items will get larger ceilings (as regular, it’s a must to pay for the void area as effectively). 

On the left, is the u-shaped open idea kitchen. This design is useful because it segregates your area out effectively – 1 for preparation, 1 for laundry up, and many others. Given its form, the countertop area is commendable for its dimension and huge sufficient for a 2 Bed room unit. The underside half cupboards additionally characteristic space-efficient cabinets to be used. If I needed to nitpick, the placement of the faucet implies that there isn’t a backsplash, so customers might want to take heed or threat having water splashing over to their eating space adjoining to the faucet. Alternatively, you possibly can construct up a glass backsplash in case you choose to make the world slightly extra enclosed. 

With the structure supplied, there may be better flexibility too. You would enclose the kitchen in case you’d like (though you’d have to open the door for air flow). You would even eliminate the examine for a much bigger kitchen in case you cook dinner and bake loads. Or, there may be additionally the opportunity of placing the eating space rather than the examine and revel in a much bigger dwelling space as an alternative (it’d in all probability be counter-style eating although).

The builders will present customary home equipment such because the induction hob, fridge, washer/dryer by mass market German equipment maker Bosch. As this can be a small unit, the default will likely be an induction hob however you possibly can all the time contemplate the bigger items (3 Bedrooms and above have a fuel hob) at Piccadilly Grand ought to your finances allow. To spherical up, the mixer equipped is from Hansgrohe and the only bowl sink is from Franke. 

For many who choose a sleeker search for the fridge, the one right here (all 1 and a pair of Bed room items) is built-in with the remainder of the cupboards, giving it a cleaner look.

For these questioning the place the washer can be, the washer-dryer will likely be positioned simply throughout from the kitchen as an alternative. That can be the place the Examine of this unit is located. It’s not as large as among the examine areas I’ve seen prior to now, so this would possibly wrestle to be one other bed room in case you actually wanted it to be. The floorplan doesn’t break down the precise dimension of this examine, therefore it is going to be tough to make a numerical comparability. 

Furthermore, the DB field is positioned right here and the cabinets open outwards, making this not essentially the most sensible of areas total. Nonetheless, it can serve its operate as a pure examine effectively for 1 or 2 occupants. As we all know, many items today don’t include a storeroom, so in case you needed to transform this area into one, it might be an possibility as effectively.

Shifting on to the eating space and there may be nearly sufficient area to suit a 4-seater set right here. It’s not class-leading certainly, however it’s just like the opposite new launches.

In the event you’re having a much bigger ceremonial dinner, you might need to get artistic – I’m pondering of both an extendable desk and even changing your lounge right into a eating space in case you anticipate to host repeatedly. Alternatively, you’ll all the time be capable of guide your communal eating amenities – one of many many perks of dwelling in a condominium for certain. 

As for the lounge, the width is as soon as once more in step with the market. For the visible impact, they’ve gone and not using a full-blown TV console, however it is possible for you to to suit one for certain – albeit not leaving a lot strolling room. You may also accommodate a espresso desk and a 3-seater sofa right here, however make sure to pay attention to their respective dimensions – the couch proven right here undoubtedly has fairly a brief seating space. In the event you choose the lounging type of couch, you gained’t be having fun with such a big area as proven right here.

On the balcony, it’s pretty effectively sized at 4.6 sqm. That is nearly just like the area you could have in your eating space, besides that it is possible for you to to benefit from the full size of this area with out having to fret about occupants continually having to get previous the world. That mentioned, I don’t suppose it’s fairly giant sufficient to accommodate a correct eating set right here. Some bar stools and a desk ought to in all probability do nice although.

And we’re off to the bedrooms – beginning first with the Frequent Bed room, which stands at 8.7 sqm. It’s acceptably sized and akin to the opposite new launches. Which means that you could have enough room for a Queen dimension mattress and a small bedside desk.

In the event you want extra room for a examine or dresser, it is best to contemplate a Single mattress as an alternative, which is able to assist to unencumber some area. That is precisely what they’ve finished right here, leaving some room so that you can entry the wardrobe. You additionally get the full-length 2-panel built-in wardrobe in a wood-grain end as customary whereas the home windows are half-length because the aircon ledge is located simply outdoors. 

This room has direct entry to the Frequent Rest room, which makes this room successfully an ensuite. That’s the great thing about jack-and-jill loos – when friends come over, they will enter from the lounge as an alternative. But on a regular day, the occupant will even get to entry it seamlessly from the bed room. This lavatory is averagely sized at 4.3 sqm.

The usual provisions such because the washbasin, faucet, hand-held bathe, and wall-hung w/c are from European manufacturers Villeroy & Boch and Hansgrohe, all of that are in a typical chrome polished end. There’s neither a rain bathe nor home windows for pure air flow within the widespread lavatory, which is typical in most mass market new launch tasks anyway.

Shifting subsequent to the Grasp Bed room, which stands at 16.6 sqm compared with the Grasp Bathtub. It’s expectedly extra spacious than the Frequent Bed room, each by way of its dimension on paper and visually. The massive body home windows undoubtedly make a distinction right here.

You’ll simply be capable of match a King dimension mattress right here, though putting a Queen will give you extra utility – as you can also make use of the extra area to position bedside tables or a dresser. You’ll be able to see that there’s nonetheless some first rate strolling room even with a King dimension mattress right here. The wardrobe supplied will likely be equally sized in comparison with the one within the widespread bed room, though it contains the extra characteristic of an equipment compartment by the facet. 

Lastly, the Grasp Bathtub. You get the identical high quality fittings and wares from Hansgrohe and Villeroy & Boch, 2 established European manufacturers that are generally utilized in personal residential items.

As well as although, you’ll get a rain bathe, which is all the time a pleasant, premium contact, as with the wall-hung w/c that you simply get each within the widespread and grasp loos. That mentioned, you continue to should depend on mechanical air flow right here although, as there aren’t any home windows accessible. 

Piccadilly Grand – 4 Bed room Twin Key Sort D2DK (128 sqm/1,378 sqft) Evaluation

Now we have not precisely seen a wave of dual-key items lately, however I consider that there continues to be a marketplace for them, and much more so in gentle of the current cooling measures. They provide answer to the “promote 1, purchase 2” property recommendation that some brokers have been propagating over the past couple of years. We wrote a no-nonsense information on this subject right here in case you have an interest. Briefly, a twin key unit lets you acquire rental earnings with the smaller or bigger unit whereas staying within the different. Alternatively, this can be a multi-generational dwelling the place mother and father and youngsters keep below one roof whereas sustaining some degree of privateness of their very own. There are 41 such unit varieties at Piccadilly Grand (1,378 sqft and 1,389 sqft), making up about 10% of all items right here. There may be additionally the choice of a standard 4 Bed room unit at 1,410 sqft or 5 Bed room items from 1,582 sqft. The most important unit is a 5 Bed room Premium (with a personal elevate) at 1,679 sqft.

Breaking down the numbers slightly earlier than we delve into the unit. This 4 Bed room Twin Key present flat unit is the mixture of a studio (full with an open kitchen, ensuite tub, and a balcony) and a 3 Bed room residence. The Studio is 13.8 sqm excluding the balcony, making the three Bed room residence barely above 100 sqm (1,076 sqft) after factoring within the lobby and balcony areas. The three Bed room unit is actually well-sized and comes full with a yard, dwelling shelter, and a moist and dry kitchen for flexibility. The Studio may make sense for aged mother and father or be versatile sufficient to be tenanted out, particularly within the purple scorching rental market we’re in at the moment. The flooring supplied will likely be marble for the widespread areas and engineered timber for the bedrooms. The ceiling top is customary at 2.8m however high ground items will get larger ceilings, though you do pay for the void area as effectively. 

As you step out of the elevate, you’re greeted by the 5 sqm lobby that separates the Studio from the three Bed room unit. They’ve separate entrances, granting occupants full privateness.

Let’s begin first with the Studio, which at 13.8 sqm will not be the biggest of areas. For context, it’s in all probability the scale of the Grasp Bed room within the 3 Bed room unit. The Studio is filled with a kitchen, a rest room, and a balcony so I need to say that the builders have finished an amazing job packing in a lot with so little area to play with. 

Entering into the unit, it’s a slender walkway earlier than you get to the mattress. On the precise, you could have the open idea kitchen. What’s nice right here is that it has a ton of overhead and backside storage areas and is effectively sufficient for any studio occupant.

Home equipment which might be supplied embody the hood, induction hob, washer, and built-in fridge, all of which will likely be from Bosch. Like the remaining, of the unit, the mixer is from Hansgrohe and the only bowl sink is from Franke.

Do do not forget that a Studio is to not be confused with a 1 Bed room unit, with the previous having neither a eating/lounge nor a transparent demarcation of the bed room. A few of us who’ve studied abroad could bear in mind staying in Studio items the place cooking up native delicacies corresponding to curry will lead to lingering smells all through the room for a few days (to not point out the oil which may get across the space). However in case you are nonetheless enthusiastic about doing heavy cooking right here, no less than you could have a hood, a balcony to divulge heart’s contents to air the odor, and probably, set up a mini curtain of types to separate the areas.  

The ensuite lavatory is definitely very effectively sized for such a small unit and doesn’t give off any claustrophobic vibes in any respect. Fittings such because the paper holder, gown hook, and rain bathe set are by Hansgrohe whereas the wall-hung w/c and basin are from Villeroy & Boch. The Hansgrohe fittings are of a darker, extra fashionable tone in comparison with these supplied within the 2 Bed room and smaller items.

I need to commend the builders for not slicing corners and insisting on the identical high quality European wares and options such because the wall-hung w/c and a rain bathe even for the Studio unit. If I had one criticism in regards to the lavatory, there’s no window for pure air flow, however that’s all the time going to be the consequence of such a structure.

The mattress is positioned on the finish of the unit and might comfortably match a Queen dimension mattress, as they’ve finished right here. It additionally comes full with a 3-panel built-in wardrobe, which is analogous in dimension to people who you discover within the different bedrooms.

Because the wardrobe is positioned throughout from the mattress, you could have room for two small bedside tables if required. Area for a examine has additionally been thoughtfully thought of right here, with a tiny nook beside the built-in wardrobe in your use. 

This area can be adjoining to the balcony. Whereas it isn’t an enormous area, I believe it’s nice to have a balcony for the Studio. It’s already a compact area, so one of the best factor you are able to do as a developer is to make sure that the area is effectively ventilated for its occupant. It might probably additionally double up as a small eating space given the dearth of 1 in a Studio. Due to this fact, I need to say it’s nice planning on the a part of CDL and MCL. 

Shifting on to the three Bed room unit, which is of fairly typical structure and design. As you enter the unit, you’re greeted by the dry kitchen instantly to your proper.

You might have a devoted Franke sink, Hansgrohe mixer, island countertop, a Bosch oven, and loads of storage areas on either side to enhance what you’ll have already got within the moist kitchen. It ensures that you’ve greater than enough cupboard space to retailer any dry items you will have. 

It enhances your moist kitchen, the place you get a 2-door Bosch fridge, alongside one other sink and mixer from Franke and Hansgrohe respectively.

The bigger items at Piccadilly Grand have a 3-burner hob and hood, which may accommodate heavy cooking higher. It additionally helps that there’s a window shut by to permit any remnant smells to exit.

The moist kitchen has a supposed yard space as effectively, though it simply looks as if a small extra sq. by the window quite than a devoted one. The washer/dryer will likely be positioned right here, and you could possibly effectively set up some racks in case you choose the pure drying technique.

This unit has its sensible elements too, with a house shelter that may function a storeroom or a helper’s room and a w/c (with window) right here as effectively. You actually can’t take these items as a given for brand spanking new condos today, so I’m glad to see them right here.

Shifting to the eating space, and I must say that this is among the extra disappointing areas. Even with the usage of bench seating, the area appears barely enough to suit 5 or 6 (which is normally what you’d anticipate for a 3 bed room unit).

Personally, the problem is the kitchen island that could be a good-to-have however is probably not obligatory, relying on the preferences of your loved ones. If I have been this unit, I’d in all probability be significantly contemplating taking away the kitchen island to open up the area. In that manner, it is best to have sufficient area right here for an 8-seater eating desk – which might make extra sense for a multi-gen household (in case you are utilising the studio area as effectively).

Total although, I’m actually shocked at how the eating space right here will not be all too totally different from the one discovered within the 2 Bed room present flat. 

On to the lounge and the width is barely higher than the one discovered within the 2 Bed room present flat. It’s about 3.2m from finish to finish right here, permitting extra room for a extra decent-sized sofa, espresso desk, and TV console. In fact, when really designing the area, it is best to nonetheless keep away from cumbersome furnishings to make sure that the world doesn’t look too cluttered.

The balcony right here, mixed with the one discovered within the Studio, makes up 8.9 sqm of area. I’m guessing that the one right here is about 5.5 sqm? It’s not the biggest, particularly for a 3 Bed room unit, however which means that there may be extra usable area for the interior areas, which is an effective factor contemplating the scale of the unit right here.

Once more, it comes right down to your preferences as some folks choose a big balcony to accommodate al-fresco eating. Whilst you can nonetheless do it right here, it is going to be extra of a 3-person affair on excessive stools given the scale of this area. Alternatively, you possibly can all the time use this as a zone to nurture your inexperienced fingers or do some workout routines right here. 

Off to the bedrooms, beginning with Bed room 3, which is closest to the lounge. Sized at 8.8 sqm, it might accommodate a Queen mattress fairly comfortably, as they’ve proven right here. The massive panel home windows let in additional gentle, making this area really feel extra open and vibrant.

It additionally comes with the usual built-in wardrobe, which is of a special theme from the two Bed room present flat. The one right here takes on a greyish theme as an alternative, and has extra of a fake leather-based end quite than the wood-like one discovered beforehand. There are 2 totally different design themes at Piccadilly Grand – for 1, 2, and three Bed room items these will likely be usually lighter colored, whereas the general theme for the bigger 4 and 5 will likely be darker (as with the fittings as effectively).

Shifting on to Bed room 2, which is sized equally at 8.8 sqm. Right here, they’ve gone with a Single mattress as an alternative, to showcase the assorted choices you could have with the bed room.

I really choose this structure, because it offers you extra flexibility. They’ve gone with a further examine desk and chair right here, which is arguably extra sensible, particularly for younger kids.

Each widespread bedrooms share the Frequent Bathtub (Bathtub 2), which at 4.4 sqm is quite common. The darker theme right here does in all probability make it really feel barely smaller because of this. It comes with a washbasin, faucet, hand-held bathe, and wall-hung w/c from European manufacturers Villeroy & Boch and Hansgrohe in a darker tone end. No rain bathe right here although.

The shock upside to this lavatory is the window that additionally results in the aircon ledge, permitting for pure air flow on this area. 

Shifting lastly to the Grasp Bed room, which measures at 18.8 sqm when mixed with the Grasp Bathtub. It’s rather more spacious than the opposite bedrooms and undoubtedly feels that manner whenever you head in as effectively.

Having a King dimension mattress nonetheless offers you enough width for a bedside desk, whereas the size permits for a dresser to be positioned by the window with out points.

As regular, the wardrobe here’s a 2-panel one that’s greater in dimension than the widespread bedrooms, however in all probability nonetheless not enough for many who have extra belongings. There are a number of highlights right here, one is the automated lighting accents as you open the wardrobe.

The built-in wardrobe right here additionally comes with the equipment compartment, permitting the kings and queens of the home to retailer away their fancy adornments. 

The Grasp Bathtub additionally feels roomier in comparison with the widespread loos and has extra of a black marble-inspired tiles on one facet of the partitions. The fittings and wares are from Hansgrohe and Villeroy & Boch, and embody a rain bathe, wall-hung w/c, and washbasin amongst others.

They’re in a darker end in comparison with these supplied for within the 1 to three Bed room items (I undoubtedly choose the darker-finished fittings within the loos, it simply appears to be like extra polished). This lavatory additionally comes with pure air flow, as there’s a giant window simply by the bathe stall. 

Piccadilly Grand Location Evaluation

The most important draw of Piccadilly Grand is unquestionably its direct entry to Farrer Park MRT. It’s a metropolis fringe location that’s undeniably handy. You’re 2 stops from Dhoby Ghaut,  3 from Orchard, 4 from Raffles Place, and 5 from Bayfront. Properly, you get my level – there are many perks to being at an RCR location corresponding to Farrer Park. 

Farrer Park is a melting pot of cultures, buildings, and meals choices. In the event you wanted any clue, look no additional than Race Course Highway simply reverse, with Muthu’s Curry, Gayatri Restaurant, and the various vary of buildings that dot the street.

With the quite a few exits at Farrer Park MRT itself, you have already got sufficient facilities to maintain you occupied and glad for all the day. You might have Metropolis Sq. Mall, which homes Singapore’s largest Don Don Donki, NTUC, a movie show (GV), academic centres, a fitness center, and loads of eateries. There’s Centrium Sq. close by too, though it isn’t one of the best by way of choices.

In case you are a foodie, additionally, you will know that this place can be a foodie haven from Swee Choon and Seaside Highway Scissors Reduce Curry Rice to Socieaty (sure, I didn’t spell that wrongly) and Komala Vilas Restaurant. You realize you’ll undoubtedly not go hungry – whatever the time of the day. 

For fogeys with school-going kids, Farrer Park Major is simply across the nook (<1km) whereas different high colleges corresponding to SJI Junior, ACS Junior, ACS Major, St Margaret’s Major, and Hong Wen Faculty are additionally inside a 2 to three km radius. 

In case you are involved about hospitals, Farrer Park has 2 notable ones to talk of.

If I’ll say this, Farrer Park is a little bit of an oddity. It’s not normally thought of to be among the many most prestigious areas to dwell in (in my private opinion) and has historically not been the costliest (Metropolis Sq. Residences already set a brand new benchmark for the world when it launched for $500-600 psf in 2005) however is extremely handy. Simply pull out the map and you’ll know what I’m speaking about. 

5 MRT stops are virtually all you should get to wherever necessary in Singapore and the mere undeniable fact that so many high colleges which have historically been linked to prime districts 9 and 11 (SJI Junior, ACS Junior, and many others, St Margaret’s, and many others) are in shut proximity speaks volumes in regards to the comfort of this space. 

Nearest MRT: Farrer Park MRT (2 minutes stroll, 150m)

Public Transport 

Facilities

Colleges

Retail / Eating Choices

Non-public Transport 

Rapid Highway Exits: 1 – onto Race Course Highway, the place you possibly can subsequently get onto the CTE and Nicoll Freeway by turning to both facet of Balestier Highway

Stack Evaluation

Piccadilly Grand Website Plan

Sat on a land plot of 94,000 sq. ft, Piccadilly Grand is unquestionably not an enormous growth. There are 3 residential blocks of 23-storeys in top that holds 407 items, so it isn’t all too overcrowded both.

The plot is sort of an extended one (it was an open-air public automobile park), and so it isn’t terribly large. Longer plots additionally are likely to look much less spacious because of this.

What’s value declaring right here is the structure of Piccadilly Grand on the bottom ground. Sometimes built-in developments would require you to take 2 lifts to get to your unit. One elevate to take you to the widespread areas, and one other to the unit itself. Whereas there may be the advantage of extra safety, it can be a really cumbersome factor to do every day, or in case you are in a rush.

The place Piccadilly Grand differs is that the elevate entry to the unit is straight from the primary ground. So when you get out from the MRT station, or from the drop-off when taking a taxi, you possibly can take the elevate on to your unit. It’s a small element, however I believe one which busy folks would respect.

Unit Combine

Based mostly on the unit combine, it’s attention-grabbing to notice that Piccadilly Grand is positioning itself to be a family-friendly condominium, with the two most dominant unit varieties being the two and three Bedrooms. 

Coupled with the truth that there are additionally 4 and 5 Bed room choices, each of which have a reasonably vital variety of items, and also you get a growth that has the weather of a family-focused condominium that can attraction to each owner-occupiers and tenants with households.

In fact, having the MRT, a toddler care, retail, and F&B choices at your step will even go a great distance in boosting its reputation amongst households. That mentioned, there are additionally 1 Bed room items that can occupy ~21% of all items for singles or {couples}. 

Provided that Farrer Park has various small, boutique flats, it’s good that the builders have chosen to concentrate on the bigger items to capitalize on its extra intensive land space, which permits the event to lure extra households on this space to Piccadilly Grand. 

Finest stacks

The blocks at Piccadilly Grand have been angled strategically to allow a North South dealing with for all items. I do know that’s an necessary consideration for a lot of patrons, myself included because the west solar in Singapore might be insufferable at instances. So from a directional-facing perspective, we’re off to begin. 

The blocks are between 22m to 26m aside from one another, which is common by new launch requirements. Nonetheless, do notice that the Westernmost stacks will even be very near the Farrer Park View HDB MSCP, at only a mere 10-12m distance which is all the time the draw back of being in a densely populated space. 

The South dealing with stacks get unblocked views of the close by Farrer Park Fields and Orchard within the distance. Nonetheless, do notice that these views are unlikely to be everlasting, because the fields have been earmarked for residential growth sooner or later too. 

However, East and North dealing with items have extra unblocked views as there are a variety of shophouses within the space. These are unlikely to be rezoned given their rarity so that you might be certain of higher cross air flow on the upper flooring. For East dealing with items, additionally, you will get glimpses of the CBD within the distance, particularly on the upper flooring. 

Afternoon Solar

Given that almost all stacks are north-south dealing with, residents right here wouldn’t want to fret a lot about having a lot afternoon solar coming into their residence.

The Developer Workforce

Metropolis Developments Restricted is one in every of Singapore’s largest actual property builders and continues to play a major position within the native actual property market. Apart from CanningHill Piers, they at present have no less than 8 different new launches available in the market, together with Sengkang Grand Residences (JV with Capitaland), Irwell Hill Residences, Haus on Useful, Amber Park, and Boulevard 88 amongst others. A member of the Hong Leong Group, CDL has a worldwide footprint throughout 29 international locations and has developed over 47,000 properties with over 23m of lettable ground space in residential, industrial, and hospitality property globally. They’re listed on the Singapore Alternate with a market capitalisation of $6.5Bn. 

MCL Land is a member of the Jardine Matheson Group below Hongkong Land Holdings. It has constructed properties in Singapore and Malaysia for over 50 years. Amongst their new launches are Leedon Inexperienced, Parc Esta, and Margaret Ville. Going ahead, MCL and CDL will proceed their partnership with the upcoming launch of an EC at Tengah Backyard Stroll and a condominium at Jalan Tembusu, after MCL acquired a 49% stake within the latter challenge in March 2022.

Architect Notes

ADDP isn’t any stranger to the Singapore condominium scene. Based in 1986, they pioneered the pre-fabricated development technique in Singapore. ADDP’s philosophy emphasizes vibrant development by means of the manufacturing of modern and high quality designs. Among the many tasks which they’ve labored on embody The Avenir, Martin Trendy, Seaside Residences, Botanique at Bartley, and Cliveden at Grange amongst many others. 

Piccadilly Grand Value Evaluation

In case you are contemplating Piccadilly Grand, you’ll undoubtedly examine it towards its neighbouring developments. So right here is the way it stacks up!

Among the many tasks chosen listed here are 2 fellow new launches – although they have been launched a few years again – [email protected] and 1953, which we had additionally reviewed beforehand. I’ve assumed Piccadilly Grand’s psf to common $2,100, although I think it’d really be barely larger. That is particularly so in the course of the opening weekend, when the smaller items are anticipated to promote out extra shortly. In any case, Piccadilly Grand is 7% larger than 1953 and 22% greater than [email protected].

At this juncture, you will need to level out the variations between the developments. 1953 is a real boutique growth in all senses of the phrase – it’s located on a small land plot with a low variety of items. Consequently, you don’t get the usual amenities you would possibly anticipate from a condominium. Furthermore, additionally it is additional to the MRT at about 10 minutes stroll, as an alternative of being nearly at your step for each [email protected] and Piccadilly Grand. Nonetheless, 1953 appeals to a distinct segment group of patrons who respect being part of a conserved shophouse residential challenge that can be Freehold, which is quite uncommon in Singapore. Nonetheless, if that’s one thing up your alley, I’ve additionally written on 16 different CCR developments you possibly can contemplate. 

However, [email protected] is equally handy as Piccadilly Grand by way of its distance to the MRT. Nonetheless, you’ll have seen that the psf distinction is much more vital. I’m attributing that to the layouts of the event. A variety of the items at [email protected] characteristic loft ideas, thus skewing the psf pricing of the challenge. A fast verify will present that regardless of being launched in 2019, its lowest and highest psf vary from $1,529 psf to $2,189 psf, with the previous being a loft unit. Due to this fact, in actuality, the psf for the common items will probably be extra in step with what you will notice at Piccadilly Grand. 

Being the latest child on the block, I might say {that a} 10% value differential for Piccadilly Grand continues to be acceptable, particularly since one may additionally argue that CDL and MCL are builders with an extended historical past and status than the opposite 2 new launches.

The benchmark for the Farrer Park precinct actually must be Metropolis Sq. Residences. It’s effectively maintained, extraordinarily handy (reverse Metropolis Sq. Mall and the MRT), has distinctive amenities like a bowling alley, and noticed large value appreciation from its sub-$600 psf launch value in 2005 to $1,784 psf common at the moment. It’s also a Freehold growth. Unsurprisingly, it has additionally lately cracked the $2,100 psf mark in November final yr. Personally, I choose Metropolis Sq. Residences for its extra intensive amenities, comfort, and value stability over the long run. Furthermore, its 2 Bed room (840-872 sqft) and three Bed room (1,195-1,518 sqft) unit sizes are additionally nonetheless palatable, making certain that the general quantum will not be particularly excessive. 

As for Sturdee Residences and Kerrisdale, they’re each resale tasks inside shut strolling distance to Metropolis Sq. Residences, with the previous being the considerably newer growth. Kerrisdale’s age and 99-year lease might be mentioned to be the explanation for the numerous value disparity between it and the opposite entries on the checklist. Do additionally notice that Farrer Park has by no means been seen historically as an ‘atas’ space, with tasks corresponding to Kerrisdale launching at round $400 psf, which implies that unique house owners who’ve saved their items have already got vital paper income.

Now let’s take a deeper have a look at the costs of surrounding new launches and resale developments.

These are the indicative costs for Piccadilly Grand:

District 8’s vs Different Districts (non-landed residential properties excluding Govt Condominiums):

District has was principally beneath the typical $PSF in Singapore till the interval of 2011 to 2017. The world didn’t see as a lot of a acquire since then, with its $PSF being solely 0.6% greater than in 2015. That is in distinction to the general market that noticed a bounce in 27.2% over the identical interval.

District 8 Vs. Remainder of Central Area:

District 8’s total non-landed $PSF was beneath the RCR’s $PSF up till 2005 when it began to reflect the typical RCR’s $PSF. Nonetheless, like with the general district comparability, district 8 lagged behind the expansion of the RCR since 2016 – and by an excellent better margin. The RCR noticed $PSF will increase of 34.8% as in comparison with district 8’s 0.6%.

District 8 Vs. Remainder of Central Area (Resale transactions solely):

To take away the results of recent gross sales in different elements of the RCR aside from district 8, right here’s a have a look at the $PSF information from strictly resale transactions (no new gross sales or sub gross sales).

You’ll discover that visually, district 8 seems to be loads nearer to the RCR’s $PSF. Nonetheless, do notice that if we examine the efficiency between the identical durations above (2015 vs 2022), district 8 gained 10.1% whereas different elements of RCR gained 28.4%.

That is nonetheless an enormous distinction in efficiency, suggesting that district 8 has lagged behind. Some attainable causes behind this embody:

• District 8 at present being fairly well-developed which left lesser room for development by means of city transformation.
• Neighbourhood restrictions corresponding to top controls, conservation areas and concrete design components that needed to be maintained may have contributed to this too as a result of lack of curiosity in redevelopment of current condominiums right here.

District 8 can be comparatively small. Between 2015 to 2022, it recorded simply 583 new gross sales. The RCR as a complete had 25,115 new gross sales excluding district 8. That is as a result of largely boutique nature of the developments right here.

Piccadilly Grand value comparability with new launches in Singapore (common $PSF):

The chart above offers a visible illustration of the place the $PSF of the two and 3-bedrooms at Piccadily Grand stands. As a result of sheer variety of tasks it’s in contrast towards, some particulars are misplaced within the chart. As such, we current the desk beneath to showcase the median $PSF of transactions for all new launches between April 2021 to 2022.

Word that the typical $PSF for Piccadilly Grand is estimated to be ranked 57 out of 134 new launches, with 1 being the most affordable (Parc Canberra) and 134 being the costliest (Les Maison Nassim).

Piccadilly Grand value comparability with new launches within the RCR solely ($PSF)

Out of the 46 RCR condos, it ranks thirty third least expensive, placing it someplace across the seventy fifth percentile. At the place it ranks, it’s fairly a good value level contemplating the considerable facilities, centrality and proximity to the MRT station.

Whereas it seems Piccadilly Grand’s pricing is loads larger than different RCR condos, keep in mind that many are both farther from facilities/MRT or positioned within the Geylang space which are likely to have a lower cost level. It’s pricing is near CBD-fringe developments like The Landmark/Avenue South Residence/One Pearl Financial institution or RCR condos positioned in additional prestigious places corresponding to within the East Coast space (NYON/Amber Park).

Piccadilly Grand value comparability with new launches within the RCR (< 500 SQFT)

Whereas the transaction information options costs from April 2021 onwards, most of the developments that Piccadilly Grand are in comparison with have been launched some time in the past when land prices and market situations have been totally different.

As such, its costs are larger than most up-to-date RCR launches (even when in comparison with The Reef At King’s Dock). Luckily, Piccadilly Grand can justify this by means of its mixed-use growth and really shut proximity to the MRT.

Piccadilly Grand value comparability with new launches within the RCR (600 – 700 sqft)

There are solely two new launches in district 8 which have transactions for items between 600-700 sqft: [email protected] and 1953.

[email protected] traded round 10% lower than the indicative $PSF, however apparently, its median value will not be too far off from Piccadilly Grand’s indicative beginning value both. Each Piccadilly Grand and [email protected] are mixed-use developments, nonetheless, the previous does provide residents nearer proximity to the MRT.

Whereas proximity to the MRT can justify a few of its premium, it’s probably that this premium is a operate of each the land price and the property market situations that we’re in at the moment.

1953 is the one different new launch aside from [email protected] and traded round a 6.3% low cost to Piccadilly Grand. Contemplating this slender low cost, Piccadilly Grand’s pricing is sensible because it’s a mixed-use growth a a lot nearer to the MRT in comparison with 1953 (7-minute stroll).

Trying on the information, you’ll additionally discover that quantum-wise, Piccadilly Grand is extra reasonably priced than One-North Eden regardless of its decrease $PSF. It is because One-North Eden’s 2 bed room is barely greater – and this bodes effectively for Piccadilly Grand. Whereas each the One North space and district 8 have good rental demand, Piccadilly Grand’s decrease quantum may imply a greater return for buyers. Its mixed-use standing and proximity to the MRT may appear extra necessary for tenants, and the tenant pool within the One North precinct is a limiting issue by itself not like tenant demand for a metropolis fringe condominium.

It’s additionally excellent news that Piccadilly Grand’s indicative quantum is extra reasonably priced than Myra. Whereas Myra can be near Potong Pasir MRT which is on the identical line as Farrer Park MRT, the latter is 2 stops nearer to city.

Furthermore, when in comparison with The Antares, it’s simply buying and selling at round a 9% premium however has much more facilities and life round.

Piccadilly Grand value comparability with new launches within the RCR (850 – 950 sqft)

If we have a look at the 3-bedroom dimension, you’ll discover that [email protected] traded at round a 12% low cost from Piccadilly Grand. I do consider that at this low cost, [email protected] actually had the higher hand because it’s additionally a mixed-use growth and never that a lot farther from Farrer Park MRT.

Sadly, Piccadilly Grand can justify its pricing as [email protected] is sort of fully-sold.

On a quantum and $PSF degree, Piccadilly Grand’s 3 bed room could be very near The Woodleigh Residences (TWR) – an Built-in Growth.

At this value level, The Woodleigh Residences might be seen as the higher possibility in case you don’t just like the bustle of the Farrer Park space contemplating the sturdy amenity providing and proximity to the MRT at The Woodleigh Residences. It could even be seen as a extra family-friendly space contemplating it’s extra peaceable than the bustling space round Farrer Park.

The Woodleigh Residences can be nearer to extra main colleges than Piccadilly Grand – it’s inside 1-2KM of extra main colleges than the latter. 1KM to three main colleges (4 as one falls simply outdoors it, relying on the block) for The Woodleigh Residences, in comparison with 2 for Piccadilly Grand. 

However like with [email protected], there are few choices left with TWR.

Apparently, Royal Hallmark had one transactions for a 936 sqft unit which went for $1,970,000. In comparison with Piccadilly Grand’s 3 bed room unit, this went for a ten% premium, and a few 5% premium over its $PSF.

Royal Hallmark’s location is nearer to the East Coast space which makes it extra prestigious, nonetheless, it’s missing by way of proximity to the MRT. It’s actually someplace in the midst of 5 MRT stations, however not inside strolling distance of any. It’s additionally surrounded by residential properties with out direct entry to facilities not like at Piccadilly Grand. For households, I consider the facilities and proximity to the MRT are rather more necessary.

Piccadilly Grand value comparability with new launches within the RCR (1,350 – 1,450 sqft)

The 4-bedroom twin key unit is right for renting out whereas staying there, or utilizing it as a multi-generational dwelling.

By way of value within the RCR, Piccadilly Grand is the fifth costliest out of 13 developments with transactions of items on this dimension vary.

Based mostly on the value, it does appear like those that missed out on Uptown @ Farrer’s 4-bedroom items now have the chance to snag a unit at Piccadilly Grand as an alternative. Uptown @ Farrer did have 4-bedroom twin key items (compact) at 1,033 sqft, and at that dimension, it went for a mean of simply $1,770,973 (contemplating all of the 8 items offered). This will likely make Piccadilly Grand look much more costly contemplating they’re the identical unit sort.

Nonetheless, a fast have a look at the ground plan exhibits that a variety of compromises must be made right here when buying the compact dual-key unit at Uptown @ Farrer.

Word the scale of bed room 4 and the dearth of a correct, enclosed kitchen. The eating space suits simply 4 which is simply too small for a 3-bedder element. The lounge additionally appears very slender and there’s a giant family shelter relative to the habitable area right here.

The bigger 4-bedroom twin key at Piccadilly Grand really appears to be like like a correct 3 bed room plus a 1 bed room unit. In fact, they’re each at very, very totally different value factors and this instance was solely used as an example that each can’t be in contrast.

So the comparability to the 1,399 sqft 4 bed room at Uptown @ Farrer can be fairer. Right here’s what it appears to be like like:

The unit opens proper to the eating and dwelling which lacks privateness. It does have a correct enclosed kitchen and the master suite incorporates a walk-in closet. It additionally has a correct yard anticipated of a 4 bed room unit. The most important difficulty right here is the outsized balcony. This is usually a professional or a con, relying on whether or not you want outside areas, however the big balcony right here may have gone as an alternative to a bigger bed room which may have made this unit extra sensible.

In distinction, the 4-bedroom twin key unit at Piccadilly Grand appears extra sensible given its separation. In the event you’re utilizing it as a household dwelling, then maybe the extra kitchen is wasted area, however its area effectivity is there because it has a decently-sized balcony. The unit additionally comes with area for a dry kitchen space although that is extra of a necessity given the dearth of countertop area contained in the moist kitchen.

Piccadilly Grand value comparability to mixed-use developments (Metropolis/Metropolis Fringe)

These contemplating the 2-bedroom unit can be glad to know that for this dimension vary, Piccadilly Grand’s value is sort of engaging. It’s not simply the bottom in $PSF however in absolute quantum if we examine it to the median costs of competing developments from April 2021 to 2022.

Whereas it’s not straight comparable as a result of their totally different places, Piccadilly Grand is nearer to an MRT in comparison with Avenue South Residence (even with the upcoming Cantonment MRT), which is round 15% extra in absolute quantum and 11% extra in $PSF.

In comparison with The M, Piccadilly Grand really appears to be like very reasonably priced as its indicative is 23% extra reasonably priced in comparison with the previous. Its quantum can be round 20% extra reasonably priced too, and that does say loads in at the moment’s market situation.

It’s the identical story when evaluating each the $PSF and absolute quantum for sizes in Piccadilly Grand’s 3 bed room. Maybe it’s simply as a result of total district 8’s pricing situation, but when we contemplate the amenity providing that district 8 has to supply and the truth that it’s a mixed-use growth which trades at a major low cost to different new launch mixed-use developments within the metropolis/city-fringe areas, then Piccadilly Grand’s pricing is sort of engaging – particularly in case you contemplate the excessive take-up charges of current new launches at the moment.

With the current announcement of the brand new BTO to launch on the positioning subsequent door, maybe the elevated concentrate on district 8’s liveability coupled with the current new launch of mixed-use developments close by (1953 and Uptown @ Farrer), households on the lookout for comfort in a city-fringe space with out having to pay city-centre costs may assist maintain Piccadilly Grand’s pricing when it hits the secondary market.

Piccadilly Grand value comparability to surrounding resale condos inside 500m

Costs of Piccadilly Grand is unsurprisingly the very best amongst all of the resale developments inside 500m of it. In spite of everything, it’s launched with restricted new launch competitors within the space and on the excessive of the property market. It’s additionally a mixed-use growth and really near MRT.

Its estimated indicative PSF is 15.3% larger than the highest-priced resale condominium: Metropolis Sq. Residences. Furthermore, all the opposite resale condos within the space are freehold in nature, making Piccadilly Grand the odd one out.

At a look, it’s straightforward to guage Piccadilly Grand to be outrageously priced, however we’re evaluating (except Metropolis Sq. Residences) a brand new mixed-use growth to the a number of boutique developments round that don’t have a lot to distinguish themselves by.

A few of these boutique developments may additionally encompass layouts that aren’t as beneficial:

As well as, provide within the space is low. Over a interval of 1 yr from April 2021 – 2022, there have been solely 52 recorded transactions right here of which 17 have been from Metropolis Sq. Residences. Which means that patrons actually don’t have a lot of a selection if they’re on the lookout for a unit right here.

In comparison with 2-bedroom items at Metropolis Sq. Residences

Metropolis Sq. Residences is of curiosity right here given its engaging amenities and variety of items on provide.

The smallest 2-bedroom unit right here is 840 sqft:

‘

840 sqft is sort of sizeable for a 2 bed room by at the moment’s requirements. It doesn’t have a balcony although it has bay home windows. Its bed room is sort of sizeable, and it even comes with a service yard on the opposite finish so cross-ventilation is feasible.

The final transacted unit right here was on the fifth ground and went for $1,435,000 ($1,709 psf). Piccadilly Grand’s indicative 2-bedroom begins from $1,348,000. That is 6.5% greater than the indicative. In fact, this quantity is exaggerated given it’s from the fifth ground.

The two bed room structure at Piccadilly Grand doesn’t characteristic a balcony, so there may be extra inside area. Nonetheless, it has an extended walkway and a small kitchen. It incorporates a dumbbell structure to scale back wasted walkway area. This structure does look extra catered in the direction of rental contemplating the practicalities of the dumbbell structure and lack of balcony, however there can be points relating to drying garments. Maybe the dryer would have to be stacked within the kitchen.

A fifth ground 2-bedroom unit at Metropolis Sq. Residences went for $1,435,000 ($1,709 psf). Piccadilly Grand’s indicative 2-bedroom begins from $1,348,000. That is 6.5% greater than the indicative. In fact, this quantity is exaggerated given it’s from the fifth ground.

Judging between each, it could appear that whereas Metropolis Sq. Residences is dearer total, the quantum might be value it given the extra family-friendly structure with its service yard. Each developments even have spectacular amenities, however Metropolis Sq. Residences has higher long-term retention worth and whereas it’s farther from the MRT, the distinction will not be deal-breaking.

Piccadilly Grand Appreciation Evaluation

1. New Farrer Park HDB Website

Simply a few days after the preview launch of Piccadilly Grand, HDB introduced that they are going to be creating 1,600 flats on the former Farrer Park Swimming Complicated. In keeping with the historical past of Farrer Park as the house floor of a few of Singapore’s sporting elites, the challenge will likely be built-in with the redeveloped sports activities and leisure amenities. These HDB blocks are set to be nearly subsequent to Piccadilly Grand, bringing additional pricing assist to this challenge when these BTO patrons ultimately select to improve.  

It was nice timing for the launch of Piccadilly Grand. Free information protection, and patrons right here will likely be assured that there are future plans to revitalise the world additional. There may be additionally additional assist for future HDB upgraders from these flats, so all in all that is constructive information.

2. Healthcare Hall (Novena and Farrer Park)

You might have Farrer Park Medical Centre simply throughout the street, KK Hospital inside a 3 minutes drive, and the Novena Well being Metropolis inside a 5-minute drive. In fact, essentially the most thrilling prospect is unquestionably the Novena Well being Metropolis, which is ready to be accomplished in 2030. The built-up space is ready to extend 240% from its current 250,000 sqm to hyperlink Tan Tock Seng Hospital, the medical college, and all public and volunteer healthcare amenities. As healthcare amenities develop within the space, we hope medical tourism will take off as effectively and consequently, the demand for short-term rental contracts from a few of these sufferers. This is usually a boon and bane from a resident’s perspective and understandably, not everybody needs to remain reverse a hospital. However, if this motive can assist to maintain asset costs, why not?

3. Kampong Bugis Rejuvenation

For the longest time, the Kampong Bugis precinct was simply a big empty patch. Even lately, the one and solely distinguished construction is the Kallang Riverside condominium, which would be the solely Freehold challenge within the neighborhood. Adjoining to Kallang Basin with a distinguished frontage in the direction of the Kallang River and set inside the park, the massive 8+ hectare web site is ready to be a extremely fascinating residential property envisioned to be car-lite, community-centre, and sustainable. Apparently, whereas the plan for the positioning is now fully residential, the preliminary one in 2008 appears to have envisioned the positioning to additionally embody places of work, inns, and retail/leisure amenities as one in every of 3 industrial hubs outdoors of the town, with the opposite 2 being Jurong and Paya Lebar. Piccadilly Grand is unquestionably a long way away, however Farrer Park and Kampong Bugis are considerably adjoining to one another in case you interpret this extra extensively. With the rejuvenation of the world, I anticipate better vibrancy within the neighborhood and hopefully, extra demand for close by properties within the wider area.