THE AVENIR CONDOMINIUM
Here we present a Review of the Avenir condo. This is a new luxury residential development for sale in the upmarket River Valley area.
It sits on the site of the former Pacific Mansions at River Valley Close, off River Valley Road and opposite Killiney Road.
Note: This is NOT an advertisement for sale.
The Avenir occupies what is probably the largest freehold land parcel within walking distance of Orchard Road to come onto the market in recent times.
Hence it is quite a high profile project. So this review looks at the locational and site attributes of the Avenir, and whether it can live up to expectations, especially given its developer reputation.
The Avenir condo is being developed by a tripartite of sister companies comprising Guocoland, Intrepid Investments and Hong Realty (under the Hong Leong Group).
Their acquisition of the site for SGD$980 million in March 2018, marked the biggest collective sale in over a decade at that point.
CBRE brokered the deal. The tender for the Avenir site apparently attracted keen interest from both foreign and local developers.
CBRE’s director of capital markets, Mr Galven Tan added that the tender result is “… testament to the excellent attributes of the sprawling freehold site in the heart of district nine, which includes the proximity to both the central business district and Orchard Road shopping belt, and the upcoming Great World City MRT Station.”
The Avenir Condominium · Amenities
This is in District 9, a prime district on the edge of the Orchard Road shopping belt.
Hence there are loads of shops and hotels and malls within walking distance. Besides Orchard Road itself that is accessible down Killiney Road, we have Great World City mall slightly nearer to hand. Something like 8 to 9 minutes walk away.
River Valley Primary School is right next door. This is a co-ed school, long regarded as one of the top primary schools in Singapore. Having it next door should be immensely useful to families with young children.
At the moment the Avenir site is about 750m, roughly 10 minutes walk to Somerset MRT station. But the Great World MRT station will be nearer in future, around 450m or 6 minutes walk away. It is scheduled to be up and running by 2022, well before the Avenir condo completes.
About the Neighbourhood
The immediate neighbourhood is the almost exclusively private residential and lifestyle enclave of Robertson Quay, at the head of the Singapore River.
This is a trendy and vibrant nightlife spot. Clustered about Robertson Quay and its side-lanes are old shophouses and coffeeshops, interweaved with newer bistros, cafes and pubs.
As well as Mohamed Sultan Road a couple of blocks away. Well-known for its conservation shop houses and all sorts of chic restaurants, pubs, art galleries and clubs.
All these seem part of the ongoing regeneration and rejuvenation of the Robertson Quay / Martin Place area, that is bringing new life and buzz to the precinct.
Alongside a number of other new residences that have sprung up in recent years in the vicinity, we have the Riviere. This is a new mixed development being built on the site of the former Zouk nightclub. Its conservation warehouses will be turned into interesting retail and dining spaces.
Perhaps that explains why this location is popular with the expat community and working locals. Not least because it is also conveniently central, a short drive from the business & financial heart of Singapore at Raffles Place and Marina Bay.
Besides developing the Avenir condominium, GuocoLand is also busy completing Martin Modern just across River Valley Close, that is designed to be a tranquil garden in a city.
Looking south down River Valley Close . Previous Pacific Mansion (site of Avenir) on right.
Cheng Hsing Yao, GuocoLand’s Group Managing Director for Singapore, had previously noted of Martin Modern that “In land-scarce Singapore, space in a prime location is the ultimate luxury. It is extremely rare to find a large lush site in prime District 9.”
This statement could apply equally well to the Avenir condo too. Perhaps even more so given its freehold tenure, compared to the 99 year leasehold Martin Modern.
|Developer||Carmel Development Pte Ltd
(Joint Venture of Hong Leong Holdings Limited, Guocoland Limited, and Hong Realty)
|Status||Condominium (No restrictions on foreign ownership)|
|Address||8 River Valley Close, Singapore 238432|
|Site Area||11,924.19 m² (128,352 sq ft)|
|Floor Area||45,821.4 m² (493,222 sq ft)|
|No. of Towers||2|
|No. of Storeys||36|
|No. of Units||376|
|Description||Private condominium development comprising 376 residential apartments with communal facilities, pools and car parking|
THE AVENIR FLOOR PLANS
The Avenir condo floor plans are not available yet. Kindly let us know via the Contact Form if you would like to be kept posted on it.
However, the unit sizes here will be bigger than the norm these days. The one bedders start from over 500 sq ft up, while the 3 bedders are at least 1,141 sq ft and go up to over 1,500 sq ft.
These certainly buck the trend of ever smaller units in the recent launches. So if you have been searching in vain for spacious new apartments, then the Avenir condominium might just suit you.
Anyway, drop us a line at the Contact Form if you would like details, or to view the showflat.
THE AVENIR SITE PLAN
The Avenir Singapore sits within the residential zone of River Valley. The site is almost trapezoid in shape, with its road frontage facing eastwards onto River Valley Close. This is a 2-lane street, but not a major thoroughfare.
To its north is The Regalia condo, that conveniently shelters it from the traffic noise of the main River Valley Road.
While on its west and south-west are the sprawling grounds of River Valley Primary School. The school buildings look to be no more than four or five storeys high.
Which means that on these two sides at least, the Avenir should enjoy quite an open outlook, with unblocked views for a distance. Especially since beyond the school is Kim Seng Park and the Singapore River, so it is possible that some units may get views of that too.
Incidentally, across the river at that point, is the upcoming 99 year leasehold Riviere and Fraser Residence Promenade development. As a possibly relevant point of interest, the Riviere condo is selling at around $2,900 PSF.
THE AVENIR SHOWFLAT · VIEWING
The Avenir showflat is tentatively scheduled for viewing on 30th November to 1st December, and from 2nd December to 5th December 2019. Viewings are by appointment.
Kindly call us at 6100 6090 or drop us a line via the Contact Form if you wish to be kept updated on the Preview dates, or want to come and view the showflat.
The Avenir Condo Showflat will feature the following unit types:
. 2 Bedroom (828 sq ft)
. 3 Bedroom + Private Lift (1,572 sq ft)
. 4 Bedroom + Family + Private Lift (2,411 sq ft)
Top Notch Provisions for your Home:
. Kitchen appliances by V-Zug from Switzerland
. Fridge, washer & dryer by De Dietrich
. Sanitary ware by Antonio Lupi
. Bathroom fittings by Hansgrohe
. Kitchen cabinets by Novacucina
THE AVENIR PRICES · UNIT TYPES
UNIT TYPES . SIZES
|Unit Description||Stacks||No. of
|1 Bedroom||2, 7||69||49, 50||527, 538|
|2 Bedroom||1, 4||69||77, 75||829, 807|
|3 Bedroom||3, 6||69||106||1141|
|3 Bedroom (Private Lift)||5, 8||68||142, 146||1528, 1572|
|4 Bedroom (Private Lift)||9, 10||67||191, 192||2056, 2067|
|4BR + Family (Private Lift)||11||34||224||2411|
|Total Number of Units||376|
Floor areas stated includes any Voids, Patios, Balconies, Terraces, A/C Ledges.
THE AVENIR CONDO PRICE RANGES
Status as at 06 November 2019 – the Avenir prices are not available yet. Kindly let us know through the Contact Form below if you wish us to be kept posted on that too.
THE AVENIR COST FACTORS
The developers, the tripartite of Guocoland, Hong Realty and Intrepid Investments, bought the Pacific Mansion site for SGD$980 million.
This freehold 128,352 square foot site, on which they will build the Avenir, has a plot ratio of 2.8 under the Urban Redevelopment Authority’s (URA) Master Plan.
However its existing total floor area was already 493,222 sq ft. So the purchase price works out to about $1,987 per sq ft per plot ratio (PSF PPR) for the land component.
After factoring in development costs that include construction, marketing, financing, and overheads, the break even could come to around $2,700 PSF PPR for a luxury product.
According to news reports at the time of the Pacific Mansion en bloc sale, consultants were projecting a break-even of $2,530 to $2,800 PSF, and a potential selling price of $3,000 to $3,200 PSF.
How true that will be, remains to be seen. But as a basis for comparison, the freehold 8 St Thomas across River Valley Road that is currently half sold, is priced at roughly $3,1xx to $3,3xx PSF.
ABOUT THE DEVELOPER
The Avenir Singapore is being developed by a collaboration of two of the most established and biggest property players in Singapore.
Intrepid Investments and Hong Realty, both under Hong Leong Investment Holdings, teamed up with sister company GuocoLand Limited, to successfully bid for, and develop this freehold site.
Intrepid Investments and GuocoLand each hold a 40% stake in the Avenir project, while Hong Realty holds the remaining 20% share.
GuocoLand Limited (“GuocoLand” or the “Group”)
GuocoLand has been listed on the SGX since 1978, and is headquartered in Singapore. It is a regional real estate player with developments across Singapore, Vietnam, Malaysia, and China. In recent years, it has ventured into the UK and Australia as well.
The Group’s main business focus is in property development, investment & management, and hotel operations. Their real estate portfolio includes residential and hospitality projects, and commercial and integrated developments.
In Singapore alone GuocoLand has contributed over 10,000 homes across 35 projects, to the local housing market.
The Group is notable for the flagship Tanjong Pagar Centre, an integrated development that combines luxury apartments at Wallich Residence with lifestyle F&B and retail space, the 5-star Sofitel Singapore City Centre hotel, and the Guoco Tower Grade A offices, fronted by a landscaped urban park.
GuocoLand has also completed integrated developments, large scale commercial projects, and even townships in Malaysia and overseas.
GuocoLand places emphasis on eco-friendliness too. Projects that have won environmental sustainability awards include Martin Modern, Wallich Residence, Sophia Residence, Elliot at East Coast, Waterline, Sims Urban Oasis, Goodwood Residence, and Leedon Residence.
The Group has also been recognised for the quality of its work & design, with accolades and awards conferred locally and internationally.
Hong Leong Investment Holdings (“Hong Leong” or the “Group”)
Intrepid Investments and Hong Realty are units of Hong Leong Investment Holdings.
The Hong Leong Group’s push into the real estate business began in the late 1960s. That was when it consolidated its property interests and investments into Hong Leong Holdings Limited.
It is one of the largest residential developers in Singapore, with a well-earned reputation for reliability and quality. The Group also owns over 8 million square feet of lettable retail, office, residential and industrial space.
Over the last 50 years, Hong Leong has been responsible for many iconic properties dotting the Singapore skyline. It is acknowledged as a market leader with over 130 residential and 100 mixed-used and commercial developments to its name.
Among its numerous projects are ones like One Balmoral, One Shenton, Sage, The Tate Residences, The St. Regis Hotel and Residences, The Residences at W Singapore, Atria, The MeyeRise, and Aalto at Meyer Road, Grange Heights in the Orchard Road area, and Watermark at Robertson Quay.
THE AVENIR CONDO LOCATION · FEATURES
- Location. The Avenir condo location looks to be a pretty attractive one. In River Valley, right on the edge of the Orchard Road shopping belt, and close to the business district of Raffles Place / Marina Bay / Shenton Way.
Shops, F&B, Hotels, Banks, Supermarkets. This part of River Valley is opposite Killiney Road, that leads to the Somerset section of Orchard Road.
However, the closest big shopping mall to walk to is actually Great World City, around 600m or an 8 to 9 minute walk. You get get all the basic necessities here. Like banks, groceries, a good selection of shops and lifestyle outlets, and choice of F&B places from fast food joints to cafes and restaurants.
For a greater variety, a 12 to 15 minute should bring you into Orchard Road itself. Along the way down Killiney Road, there are some old coffeeshops serving pretty tasty local fare.
Lifestyle. The Avenir location is within walking distance of Robertson Quay. This part of the Singapore River is a fascinating mix of the old and the new.
Here we have an eclectic jumble of pubs, bistros, cafes, art houses, mixed with fine dining restaurants & alfresco cafes. Many of them housed in refurbished conservation shophouses and warehouses, in delightful contrast against the sleek outlines of the new boutique hotels and hotels skirting the river.
This nightlife spot at the upper reaches of the Singapore River offers lots of pleasant places for a cosy dinner by the river, or a relaxed evening hanging out with friends.
A promenade runs by the river down to Clarke Quay and the CBD. So from the Avenir condo, more energetic residents can cycle or even walk to work.
Schools. If it helps to own an address within one kilometre of River Valley Primary School, then the Avenir condo location is ideal. It is just across the fence from the school; you can’t get any nearer than that.
Other well-regarded primary schools within 2 km are St. Margaret’s Primary, Anglo-Chinese School (Junior), and Alexandra Primary School.
International schools in the vicinity include the Chatsworth International (Orchard Campus), and the International School Singapore (Paterson Campus).
Nearest MRT Station. The Avenir location is 750m, roughly 10 minutes walk, to Somerset station on the North-South MRT Line.
But when the Great World MRT station on the Thomson East Coast line starts operations in 2021, it presents a nearer connection point. The closest entrance to the station will then be something like 6 minutes walk away. As the Avenir is slated to complete after that, it should work out quite nicely.
- Accessibility. The Avenir location is about 10 minutes drive from the Marina Bay / Raffles Place CBD, and less than 5 minutes from Orchard Road. It is also pretty close to two exits / entrances of the Central Expressway (CTE).
- 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
- 31 to 33 Mins Walk to MRT
- 34 to 36 Mins Walk to MRT
- 37 to 39 Mins Walk to MRT
- 4 to 6 Mins Walk to MRT
- 7 to 9 Mins Walk to MRT
- Deferred Payment Scheme
- Dual Key Units
- Luxury High-End Project
- Near Park / Nature Reserve
- Near Reservoir
- Near Shopping Mall
- Near Sports Complex
- Near to City
- Normal Payment Scheme
- Payment Scheme
- Prime District
- Progressive Payment Scheme
- Proximity to Primary School
- Sale by Private Treaty
- Sea / Water Views
- Special Discounts
- Special Features
- Star Buys
- Walk to MRT
- Within 1KM of Ai Tong Primary School
- Within 1KM of Anglo Chinese Primary School (Barker Road)
- Within 1KM of Catholic High
- Within 1KM of Cedar Girls Primary School
- Within 1KM of CHIJ Primary School (Toa Payoh)
- Within 1KM of Holy Innocents Primary School
- Within 1KM of Kong Hwa Primary School
- Within 1KM of Maris Stella
- Within 1km of Methodist Girls' Primary School
- Within 1KM of Nan Chiau Primary School
- Within 1KM of Nan Hua Primary School
- Within 1KM of Nanyang Primary School
- Within 1KM of Ngee Ann Primary School
- Within 1KM of Paya Lebar Methodist Girls' 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 Singapore Chinese Girls' Primary School
- Within 1KM of SJI Junior
- Within 1KM of St Andrews Primary School
- Within 1KM of Tao Nan Primary School