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MIDTOWN MODERN CONDOMINIUM

Presenting here the launch of Midtown Modern Singapore. This is a new development offering residential apartments, with commercial retail space at ground level, at Tan Quee Lan Street in Singapore’s Bugis District.

It occupies a rather choice site among recent launches. Right beside and directly integrated with Bugis MRT station, and part of the regeneration of the South-Beach-Ophir-Rochor Corridor.

Midtown Modern Bugis MRT Connectivity

Midtown Modern Bugis MRT Connectivity

Landmarks in the Neighbourhood

Guoco Midtown Modern Site . Ophir-Rochor-South-Beach Neighbourhood

What makes the Midtown Modern condo even more interesting is that the developer is a joint venture of Guocoland Limited and subsidiaries of Hong Leong Holdings. Guocoland is currently building Guoco Midtown just across Beach Road here.

Hence this Midtown Modern site will complement Guoco Midtown, becoming a natural extension of it as Guoco Midtown II. Together with Midtown Bay, it offers a wider choice of accommodation to support the growth of the surrounding commercial enclave of South Beach, Duo, and Midtown itself.

Midtown Modern Condo & Guoco Midtown . Neighbourhood & Transport . Click to Enlarge

Midtown Modern Condo & Guoco Midtown . Neighbourhood & Transport . Click to Enlarge

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About Guoco Midtown

Guoco Midtown is the upcoming SGD$2.4 billion mega mixed-use development spanning 3.2 hectares (ha) of land at Beach Road and Tan Quee Lan Street.

Framed as a ‘City of the Future’ at the epicentre of Singapore’s new ‘Midtown’, it will comprise three retail clusters, a 30-storey high office tower offering 770,00 square feet of premium Grade A office space, and two condominiums housing a total of 777 luxury apartments – the 219-unit Midtown Bay and the 558-unit Midtown Modern.

Midtown Modern will be Guoco Midtown II

Midtown Modern at Guoco Midtown II . Green Lung within the CBD

The development will also offer public squares, and a five-storey Network Hub building. This is a first-of-its-kind purpose-built social and business networking club.

Midtown Market and Scent Garden

The Midtown Market and Scent Garden

Above pic shows Midtown Market, with the Scent Garden located at the 2nd level to the right, and Midtown Bay on the far right. On the left is the office tower. Anchoring it at the far end is the Network Hub.

Mindful of the call towards ‘greening’, GuocoLand has set out here to create the most extensive privately-developed collection of gardens in the CBD (Central Business District).

Across the project will be woven 30 landscaped spaces and thematic gardens spanning 3.8 ha, from the ground floor to different levels of the podium, and up to the rooftops of the towers.

Midtown Modern Condominium . Water Garden with Public Pavilion

Midtown Modern Condominium . Water Garden with Public Pavilion

Ten of these gardens will be publicly accessible. These will give the community the chance to immerse themselves in nature and take part in public events right in the heart of the city, turning these 3.2 hectares of prime land in the Bugis-Beach Road district into a new leisure destination.

Guoco Midtown . Market Place

Midtown Market with its collection of plants hanging from the ceiling

City Room

Guoco Midtown City Room

Guoco Midtown will be directly connected to the Bugis Interchange MRT station. Given its scale, it is projected to bring another 10,000 office workers, visitors and residents daily into the district. The development is targeted to complete in phases, between 2022 to 2024.

Alongside other landmark developments like Duo and South Beach, it is part of the rejuvenation of the Beach Road precinct. These are turning the district into an increasing upmarket location, and extending the “downtown” boundaries.

Guoco Midtown Mixed Development

Guoco Midtown Mixed Development

In fact, if some property pundits are right, District 07, Bugis, could eventually overtake Orchard Road as the most prime residential district.

This could come about as the area is changing from a “history-rich, predominantly commercial precinct” into a “hip and vibrant civic district”.

Not least because District 7 has the essential ingredients for residential property investment – cultural richness, easy rentability, and potential for capital gains.

According to GuocoLand, Guoco Midtown is the “…final critical piece of jigsaw that completes the transformation of the area”. Midtown Modern will contribute 558 homes to this piece of the jigsaw.

Guocoland has succeeded in delivering transformative integrated developments before, such as at Tanjong Pagar Centre. They look to repeat that success at Guoco Midtown.

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    About the Midtown Modern Condo

    558 apartments will be built on the site, with up to 2,000 square metres of commercial space at the first level.

    The theme of this development is Garden Homes in the CBD. It will comprise bigger format units catering more to families, set on over one hectare of gardens featuring almost 200 plant species. It will offer full condominium facilities, as well as concierge services and networking amenities.

    Midtown Modern Condominium . Garden Homes in the CBD . View Out to Garden

    Midtown Modern Condominium . Garden Homes in the CBD . View Out to Garden

    The Spring Wood at Midtown Modern Condominium

    The Spring Wood at Midtown Modern Condominium

    This is going to be a signature project, atop Bugis MRT station. Bugis is an interchange station connecting two MRT lines: the East-West and Downtown lines.

    Midtown Modern Singapore . Connectivity

    Midtown Modern Singapore . Connectivity . Click to Enlarge

    Being connected directly to Bugis station means it will be linked by underpasses to Duo, Guoco Midtown, and Bugis Junction too.

    Some higher floor units at the Midtown Modern condo may also obtain pocket views to the sea, or Marina Reservoir, or to the city skylines.

    The Midtown Modern Singapore . View

    The Midtown Modern Singapore . View

    And in much the same way that Midtown Bay will tap upon Guoco Midtown and the amenities in the neighbourhood, so too will Midtown Modern residents be part of this community.

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      Pricing Background . Click to Open / Close

      Guoco Midtown Modern Condo . Pricing

      Only two bids were received for this site. Which was rather surprising, especially in light of the 10 bids received for the nearby Middle Road site, that recently launched as The M.

      Nevertheless, the winning bid of SGD$800.19 million or SGD1,535 PSF PPR (per square foot per plot ratio), was still in line with market expectations, and a benchmark pricing for the area.

      It was also 5.3% higher than the SGD$1,458 PSF top bid for the M site. Ms Christine Li, Cushman & Wakefield’s head of research for South-East Asia, noted that the slight premium could reflect the more favourable location of the Midtown Modern site, as it is right next to Bugis MRT station.

      With established developers such as GuocoLand + Hong Leong and the 2nd bidder, a tie-up of CDL with MCL Land, demonstrating their confidence in the area, analysts have postulated that the other developers could have been put off by the hype over this parcel, and expected aggressive bids for it.

      Especially since, given the size and land cost of over $800 million, total development cost is expected to be well in excess of SGD$1 billion. Not many developers have the capacity to undertake that.

      Multinational Corporations in the Vicinity

      Multinational Corporations in the Vicinity

      At a land rate of $1,535 PSF PPR, analysts have suggested a break-even of around $2,200 PSF, and a selling rate of above $2,400 PSF.

      As a basis for comparison, The M, in a slightly less favourable location, recently launched at an average $2,450 PSF. On its launch weekend alone, it sold out 70% of its entire stock. And this was amid the coronavirus scare.

      Whether Guoco Midtown Modern can come close to that, will likely depend on its design concept and pricing strategy.

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        Project FactSheet

        Name Guoco Midtown II & Midtown Modern (名汇庭苑)
        Developer Guoco Midtown II Pte Ltd & Midtown Modern Pte Ltd
        (JV of GuocoLand Limited + Hong Leong Holdings + Hong Realty)
        Status Residential with 1st storey commercial
        Address 16 Tan Quee Lan Street, Singapore 188144 (Resi South Tower)
        18 Tan Quee Street, Singapore 188105 (Resi North Tower)
        20 Tan Quee Lan Street, Singapore 188107 (Comm at 1st Storey)
        Above Bugis MRT Interchange (East-West & Downtown)
        District 07
        Site Area 11,530.8 m² (124,117 sq ft)
        Floor Area 48,430 m² (521,293 sq ft)
        Total GFA Residential – 50,144.40 m² (539,754 sq ft)
        Commercial – 2,000 m² (21,528 sq ft)
        Plot Ratio 4.52
        Tenure Leasehold (99 years w.e.f. 10 December 2019)
        Estd TOP Date 3rd Quarter 2025
        No. of Blocks 2
        No. of Storeys 30 (125.30m)
        No. of Lifts 4 common lifts + 2 private lifts per tower
        No. of Units 558
        Description Residential flats development comprising 2 blocks of 30-storey apartments with carpark and communal facilities, and commercial at first storey with basement.
        Architect ADDP Architects LLP (In collaboration with ipli Architects)
        Quantity Surveyor Arcadis Singapore Pte Ltd
        C&S Engineers KCL Consultants Pte Ltd
        M&E Engineers United Project Consultants Pte Ltd
        Lighting Consultant The Lightbox Pte Ltd
        Landscape Consultant Ortus Design Pte Ltd
        Main Contractor Tiong Seng Contractors Pte Ltd
        Project Account DBS Ltd for Project A/C No. 003-700172-4 of Midtown Modern Pte Ltd and Guoco Midtown II Pte Ltd


        Midtown Modern Floor Plans

        Example floor plans are shown here.

        For the full set of floor plans, please drop your contact details in the Form below for the Midtown Modern brochure to be emailed to you.

        Midtown Modern Floor Plan . One Bedroom Type A1

        Midtown Modern Floor Plan . One Bedroom Type A1

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        Midtown Modern Floor Plans . 2 Bedroom Type B3

        Midtown Modern Floor Plans . 2 Bedroom Type B3

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        Midtown Modern Condo Floor Plan . 3 Bedroom Type C2

        Midtown Modern Condo Floor Plan . 3 Bedroom Type C2

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        Midtown Modern Condo Floor Plans . 4 Bedroom Type D3P with Private Lift

        Midtown Modern Condo Floor Plans . 4 Bedroom Type D3P with Private Lift

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        5 Bedroom Penthouse with Private Lift . Type PH2 Floor Plan

        5 Bedroom Penthouse with Private Lift . Type PH2 Floor Plan

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        Artist's Impression . The Autumn Wood at Midtown Modern at Bugis . Garden Homes

        Artist’s Impression . The Autumn Wood at Midtown Modern at Bugis . Garden Homes

        Note
        . Floor to ceiling heights: about 3m for 3rd to 29th floor units; about 4.15m for 30th floor units.
        . Units come with a Smart Home System.
        . The Refuse Disposal uses a pneumatic system.

        Artist's Impression of Apartment with Garden View

        Artist’s Impression of Apartment with Garden View


        Midtown Modern Condo Site Plan

        The land parcel is longish, almost rectangular in shape, and tilted in a south-easterly / north-westerly direction. This is an island plot bounded by major roads that makes for ease of access.

        It borders Rochor Road on its north-east. This side is also where it abuts, and sits on, the Bugis MRT station underground serving the Downtown line. Exit D of the station leads out here.

        To the north-west of the site is North Bridge Road, and Bugis Junction.

        Tan Quee Lan Street hugs the site on its south-west, across which are a few rows of heritage shophouses, mainly three storeys high. Many of these have been rather nicely, even elegantly refurbished in some cases, housing an intriguing selection of shops and eateries.

        They afford the Midtown Modern condo units overlooking the shophouses a more open view.

        And on the south-east is Beach Road, with Guoco Midtown opposite the site. While this project blocks Midtown Modern @ Bugis from unhampered sea views, there is still room around it for pocket views out.

        In fact looking out from the south-east corner, there is a fair bit of space between Gateway West and Guoco Midtown, with views towards Marina Reservoir.

        So taking it all round, there should be a good amount of natural light, and fresh breezes.

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        Midtown Modern Site Plan . E-Deck

        Midtown Modern Site Plan . E-Deck

        Midtown Modern Site Plans . Level 1 and Roof Gardens

        Midtown Modern Site Plans . Level 1 and Roof Gardens

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        The Grand Lawn Surrounded by the Summer Wood

        The Grand Lawn Surrounded by the Summer Wood

        Midtown Modern Condo . Main Entrance

        Midtown Modern . Main Entrance

        Midtown Modern Condo . Arrival Lounge

        Midtown Modern Condo . Arrival Lounge

        Condo at Bugis MRT Station . Play Pavilion

        The Play Pavilion

        Midtown Modern Condominium . Estuary Pool

        Midtown Modern Condominium . Estuary Pool


        Midtown Modern Showflat · Viewing

        The Midtown Modern showroom is taking reservations for viewings. Viewings are by advance appointment.

        Please drop your contact details in the Form below if you wish to book a viewing slot.

        Midtown Modern Showflat . One Bedroom

        Midtown Modern Showflat . One Bedroom

        Sales Gallery . One Bedroom View

        Midtown Modern Sales Gallery . One Bedroom View

        Artist's Impression of Midtown Modern Showflat . By GuocoLand

        Artist’s Impression of Midtown Modern Showflat . By GuocoLand

        Artist's Impression of Midtown Modern Condo Showflat

        Artist’s Impression of Midtown Modern Condo Showflat


        Midtown Modern Prices · Unit Types

        Midtown Modern Singapore . Unit Types & Sizes . Click to Open / Close

        UNIT TYPES . SIZES

        Unit Description Type No. of
        Units
        Strata Area
        (sq m)
        Strata Area
        (sq ft)
        1 Bedroom A 168 38 – 44 409 – 474
        2 Bedroom B 139 55 – 67 592 – 721
        3 Bedroom C 139 84 – 99 904 – 1,066
        4 Bedroom D 55 133 – 136 1,432 – 1,464
        4 Bedroom Premium D 55 161 – 168 1,733 – 1,808
        Penthouse PH 2 304 – 327 3,272 – 3,520
        Total Number of Units 558

        Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.

        The Midtown Modern Condo Price . Click to Open / Close

        MIDTOWN MODERN PRICE RANGES

        The Midtown Modern condo prices have not been finalised yet. Please let us know via the Contact Form if you wish to be updated on the pricing when available.

        MIDTOWN MODERN PRICE BACKGROUND

        The developer, a collaboration of GuocoLand and Hong Leong Holdings through their subsidiaries, paid SGD$800,190,000 for the 124,117 square foot site.

        At a plot ratio of 4.2, equating to allowable gross floor space of 521,293 square feet, this works out to a land rate of SGD$1,535 PSF PPR.

        Allowing for around $650 to $700 PSF to develop, finance, and market the project, the break even cost could be in the region of $2,200 PSF.

        Hence analysts are expecting a selling price of above $2,4xx PSF.

        However since Midtown Bay is averaging $2,950 PSF, there might be upward pressure on the Midtown Modern prices to avoid too big a disparity between them.


        About the Developer

        Midtown Modern Singapore is being developed by a partnership of two of the biggest and most established property players in Singapore.

        GuocoLand and its sister company Hong Leong Investment Holdings, through their subsidiaries GLL D Pte Ltd, Intrepid Investments Pte Ltd and Hong Realty (Private) Limited, teamed up to bid for, and will build this mixed development.

        The Avenir Condo by Guocoland & Hong Leong

        Avenir by Guocoland & Hong Leong . Developers for Guoco Midtown Modern Singapore

        About GuocoLand Limited . Click to Open / Close
        GuocoLand Limited (“GuocoLand” or the “Group”)

        GuocoLand is headquartered in Singapore, and has been listed on the SGX since 1978. It is a regional real estate player with projects in Singapore, China, Malaysia and Vietnam. Since 2017, it has ventured into the UK and Australian markets as well.

        The Group’s primary business is in real estate development, management and investment, as well as hotel operations. Its portfolio also spans residential, hospitality, commercial and integrated developments.

        Within Singapore, GuocoLand has completed more than 35 residential projects that have added over 10,000 homes to the local housing stock.

        Among its commercial projects is its flagship Tanjong Pagar Centre, a $3.2 billion integrated development above Tanjong Pagar MRT station. This is a vertical city that comprises retail and F&B space, luxury apartments at Wallich Residence, the 5-star hotel Sofitel Singapore City Centre, and the Guoco Tower Grade A offices, fronted by a landscaped urban park.

        Tanjong Pagar Centre by GuocoLand . Developer for this Mixed Development

        Tanjong Pagar Centre by GuocoLand . Developer for Midtown Modern at Bugis MRT

        The Group has also undertaken several commercial and integrated developments as well as townships in Malaysia. In addition it has amassed a portfolio of properties from top-tier cities in China, like Beijing, Shanghai, Tianjin and Nanjing.

        Awards Conferred

        GuocoLand is known for the quality of its work and designs, having won several awards and accolades, both local and international.

        It prioritises eco-friendly features too, with its recent projects being conferred environmental sustainability awards. Such as at Martin Modern, Goodwood Residence, Wallich Residence, Leedon Residence, Sophia Residence, Waterline, Elliot at East Coast, Sims Urban Oasis.

        Goodwood Residence by GuocoLand

        Goodwood Residence by GuocoLand

        About Hong Leong Investment Holdings . Click to Open / Close
        Hong Leong Investment Holdings (“Hong Leong” or the “Group”)

        Hong Realty and Intrepid Investments are both units of Hong Leong Investment Holdings.

        The Group’s push into real estate development began as far back as the late 1960s. That was when it consolidated its property investments and interests into Hong Leong Holdings Limited.

        It is now one of the largest property players in Singapore, particularly in residential real estate.

        Since its inception, Hong Leong has built many of the projects dotting the Singapore skyline today. It is recognised as a market leader with over 130 residential, and 100 commercial and mixed-used projects under its belt.

        In the process, the Group has earned a reputation for quality work and dependability. It has also amassed a portfolio of over 8 million square feet of lettable office, retail, residential and industrial space.

        One Balmoral by Hong Leong Holdings

        One Balmoral by Hong Leong Holdings

        Examples of its projects are the Avenir, One Balmoral, The Tate Residences, One Shenton, Atria, Sage, The Residences at W Singapore, The St. Regis Hotel and Residences, Grange Heights, The MeyeRise, and Aalto at Meyer Road, and Watermark at Robertson Quay.


        Midtown Modern Location · Features

        The Midtown Modern Location View

        The Midtown Modern Location View

        Midtown Modern Location Plan

        Midtown Modern Location Plan

        1. Location. The Midtown Modern condo occupies a prime site within the extended Singapore Downtown. This is the Ophir-Rochor-Beach Road rejuvenation precinct, that will extend the financial & business district of Raffles Place and Marina Bay eastwards.

          The location itself is along Rochor Road, between Beach Road and North Bridge Road, and close to the civic and cultural district of Bras Basah. This is an increasingly popular address, joining neighbours such as Duo, South Beach Tower, The Gateway, and the upcoming Guoco Midtown.

        2. F&B, Shops, Supermarkets, Banks. The Midtown Modern location is close to a selection of these amenities. Besides Bugis Junction across North Bridge Road, there are Guoco Midtown over at Beach Road, and Duo across Rochor Road.

          As well as the mega Suntec City Mall & Marina Centre, with its fast food chains, food courts, cafes and restaurants, numerous lifestyle outlets and shops, and banking facilities.

          Other attractive options are the old-time hawker fare in run-down shophouses nearby, along Middle Road, Beach Road, Liang Seah Street, and Victoria Street. Or the quirky cafes that have sprung up at the refurbished heritage shophouses around Tan Quee Lan Street.

          There is also the main National Library Building within a short walk away. Lots of stuff there besides books. Enjoy a quiet hour browsing its shelves or lounging in its reading spaces.

        3. Nearest MRT Station. The Midtown Modern condo location is just adjacent to, and in fact, on top of part of the Bugis interchange station, with direct access to it. This section of the station serves the Downtown Line, under Rochor Road.

          But it is also connected underground to the part of the station serving the East-West line, as well as the surrounding developments like Duo and Bugis Junction.

        4. Connectivity at Bugis MRT Interchange Station

          Midtown Modern Location . At Bugis MRT Interchange Station

        5. Accessibility. To access the Midtown Modern location from the expressway network is pretty direct. Swoop down from the East Coast Parkway (ECP) to Rochor Road, and you arrive almost immediately at the site. To get to its Tan Quee Lan Street entrance, just take a left turn onto Beach Road, and a right straight after that.

          Rejoining the ECP is a bit less straightforward. You need to loop around North Bridge Road and Middle Road, to get back onto Beach Road, and from there the exit onto the expressway. All in, it should take about 20 minutes drive off-peak to get to Changi Airport.


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