THE OPUS CONDOMINIUM
The Opus condo is a new freehold residential project that will arise on the site formerly occupied by Amber Park. Amber Park was snapped up for SGD$906.7 million in Singapore’s 2nd largest freehold collective (enbloc) sale in dollar terms, in October 2017.
The old Amber Park, built in 1986, was sold to City Developments Ltd (CDL) and joint-venture partner Hong Realty, in a keenly contested tender that drew 8 bids.
The Opus Singapore will be one of the few new freehold residences here on a good sized piece of land. There are not many sites of such size available for redevelopment in the popular Amber Road area, as most of the larger plots have already gone enbloc and been redeveloped. The Opus condo could possibly be one of the last freehold collective sale sites with a land area of over 200,000 sq ft in Marine Parade.
According to OCBC Investment Research Eli Lee, CDL’s purchase price though aggressive, did make sense, given recovering home prices, and the fact that such choice sites are hard to come by.
On the Opus condo site specifically, they noted that it is in the established and sought-after East Coast / Katong area that is starting to undergo transformation and gentrification, along with the rejuvenation of East Coast Park.
This area is known for its rich cultural heritage and foods, and near malls such as I12 Katong & Parkway Parade, and schools like Tao Nan, CHIJ (Katong), and Tanjong Katong Primary.
Amber Road, and its surrounding private residential estate, has long had a loyal fan-base, both expatriate and local, due to its location: a short walk to East Coast beach and the sea, and less than 15 minutes drive to the CBD / Marina Bay and Changi Airport.
“In addition to strong locational attributes, a distinct advantage of the site is its freehold status, something that is increasingly rare in Singapore,” said Mr Sherman Kwek, CEO-designate of CDL.
The Opus will be a luxury condominium comprising four 25-storey blocks of around 800 units, with a basement carpark. Most units will be in a north-south orientation, with many of the homes commanding sea views.
Given all that, together with the sea views that south-facing units will get, and its proximity to the upcoming Katong Park MRT station (290m or less than 4 minutes walk) slated for completion by 2023, healthy demand is expected for this project.
OPUS CONDO · FROM ENBLOC OF AMBER PARK
THE OPUS CONDO · FACTSHEET
|Developer||City Developments Limited (CDL) & Hong Realty (Hong Leong Group)|
|Status||Condominium (Foreigners eligible to buy)|
|Address||14 Amber Gardens, Singapore 439960
16 Amber Gardens, Singapore 439961
|Site Area||19,850.9 m² (213,673 sq ft)|
|Floor Area||55,582 m² (598,284 sq ft)|
|No. of Blocks||4|
|No. of Storeys||25|
|No. of Units||Approx. 800|
THE OPUS FLOOR PLANS
The Opus condo floor plans are not finalised yet. Kindly drop us a note below if you wish for the Opus floor plans to be emailed to you once available.
THE OPUS CONDO SITE PLAN
The Opus condo site has the advantage of having dual frontages: it fronts both Amber Road and Amber Gardens. On the Amber Road side, facing south, part of this frontage faces the low-rise Chinese Swimming Club.
Beyond the club is just the ECP (East Coast Parkway), then East Coast Park and beach. Which means that a fair number of units at the Opus condo will get pretty good sea views. But without the ECP noise, which is something that the condos directly fronting the beach have to bear with, since they invariably front the ECP too.
OPUS CONDO SHOWFLAT · VIEWING
The Opus showflat is not open for viewing yet. Please drop us a line below if you wish to be kept posted on when the Opus showflat opens.
OPUS CONDO PRICES · TYPES
UNIT TYPES . SIZES
|Unit Desc||Type||No. of
|Strata Area (sq m)||Strata Area (sq ft)|
|Total Number of Units||Approx. 800|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
THE OPUS PRICE RANGES
Status as at 20 March 2018 – pricing not finalised yet. Please drop us a note below if you wish to be kept posted on the prices.
|Unit Desc||Unit Type||Nett Price (SGD)|
CDL will only announce the Opus condo prices on the sales day itself. Meanwhile, analysts have estimated an indicative range as follows.
The sale price of S$906.7 million for Amber Park works out to a land rate of around S$1,515 per sq ft per plot ratio, based on the 2.8 plot ratio of this site. This should translate to break-even cost of around $2,200 per sq ft, and possible selling price of $2,500 to $2,600 PSF.
This is higher than for previous neighbouring launches, but is in line with the overall market movement in Singapore, and a reflection of the hunger for land among developers as their current land banks have depleted. From 2018, based on their land costs developers will be launching new projects at possibly 10 to 15% higher than what was seen in 2016 and 2017.
Of late, some developments on freehold or 999 year leasehold land have been launched on shorter leases of 103 or 110 years. CDL will not go down that route, but will sell the Opus condo at its freehold tenure.
CDL is known to understand the District 15 market well. In fact, it was the original developer for Amber Park, over 30 years ago.
THE OPUS CONDO · DEVELOPER
Each company ranks, in its own right, among Singapore’s top real estate players. Both have a long track record of premium developments and reputation for quality spanning the mass market to the high end real estate sectors.
Over the past 50 years, the Group has developed many iconic properties and positioned itself as a leader in the local real estate market, with over 130 residential and 100 commercial and mixed use developments. These include places like The Tate Residences, One Shenton, Sage, The St. Regis Hotel and Residences, W Singapore @ Sentosa Cove, and Commonwealth Towers.
As a major commercial landlord and landowner in Singapore, the Group collectively owns over 8 million square feet of lettable office, retail, residential, and industrial space.
Hong Leong Holdings was established in 1968 as Hong Leong Group’s real estate development and investment arm. It has developed close to 100 residential properties and manages about 10 commercial projects.
Established since 1963, City Developments is a Singapore listed international property and hotel conglomerate with interests in real estate investment & development, facilities management, and hotel ownership & management.
It runs an extensive network of over 300 subsidiaries and associated companies spanning 80 locations across 20 countries, including 7 companies listed on stock exchanges in London, Hong Kong, New Zealand, and the Philippines. In Singapore, CDL has an admirable track record of having built over 23,000 homes covering all the market segments.
OPUS CONDO LOCATION · FEATURES
Location. The Opus location is in the heart of Marine Parade / Katong, at Amber Gardens. This area is said to be home to ‘old money’ – it has been one of the more exclusive private residential estates since the early days of Singapore, when bungalows here belonging to rich tycoons had gardens that ran down to the sea. In fact, this estate ranks only just below the prime central districts of Orchard Road, River Valley and Bukit Timah.
It just has its own special atmosphere and character, that attracts a strong following among expatriates, and especially among local long time residents.
- Shops, Food & Supermarkets. 370m or about 5 minutes walk to Katong Shopping Centre, and 700m or 9 to 10 minutes walk to Parkway Parade. These provide a complete range of shops, restaurants & dining outlets, supermarkets and banks. The Parkway Parade area has to be one of the few places in Singapore where you can find practically all the major banks congregated in one spot.
- Nearest MRT Station. The Opus condo location is about 290 metres, less than 4 minutes walk, from the upcoming Katong Park MRT station on the Thomson East Coast Line (TEL), that is set to start operations in 2023.
Schools. Well regarded schools in the vicinity include Tanjong Katong Primary (within 1km), and Tao Nan and CHIJ Katong Primary schools (within 2km).
Other educational institutes nearby include Chatsworth International School (East Campus), Canadian International School (Tanjong Katong Campus), and Chung Cheng High School.
Accessibility. Easy access to the rest of Singapore via the East Coast Parkway (ECP), that joins to the MCE (Marina Coastal Expressway), the TPE (Tampines Expressway), and KPE (Kallang Paya Lebar Expressway). One of the reasons for the appeal of the Opus location is that it is only 10 to 15 minutes by car to the Raffles Place & Marina Bay business district.
At the same time, it is just 15 minutes drive to Changi International Airport, making it ideal for those who work in the CBD and travel often.
- 1 to 3 Mins Walk to MRT
- 10 to 12 Mins Walk to MRT
- 13 to 15 Mins Walk to MRT
- 16 to 18 Mins Walk to MRT
- 19 to 21 Mins Walk to MRT
- 22 to 24 Mins Walk to MRT
- 25 to 27 Mins Walk to MRT
- 28 to 30 Mins Walk to MRT
- 4 to 6 Mins Walk to MRT
- 7 to 9 Mins Walk to MRT
- Deferred Payment Scheme
- Luxury High-End Project
- Near Park / Nature Reserve
- Near Reservoir
- Near Shopping Mall
- Near Sports Complex
- Payment Scheme
- Prime District
- Progressive Payment Scheme
- Proximity to Primary School
- Sea / Water Views
- Special Discounts
- Special Features
- Star Buys
- Walk to MRT
- Within 1KM of Ai Tong Primary School
- Within 1KM of Catholic High
- Within 1KM of Cedar Girls Primary School
- Within 1KM of Holy Innocents Primary School
- Within 1KM of Maris Stella
- Within 1KM of Nan Chiau Primary School
- Within 1KM of Nan Hua Primary School
- Within 1KM of Ngee Ann Primary School
- Within 1KM of Raffles Girls Primary School
- Within 1KM of River Valley Primary School
- Within 1KM of Rosyth Primary School
- Within 1KM of St Andrews Primary School
- Within 1KM of Tao Nan Primary School
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