Condo Hunt by the River at Robertson Quay – Which One Will You Choose?

February 23, 2018

Condo Hunt by the River at Robertson Quay – Which One Will You Choose?

In Singapore, most people who buy condos to live in usually get those located in the Outside Central Region (OCR) as they are more affordable. However, people who have higher incomes may choose to buy private property located in the Core Central Region (CCR). These prime properties are more expensive and exclusive.

Properties near the Singapore River are popular with both locals and foreigners, and there are numerous such properties in that area. In this article we will look at the Robertson Quay area and do a comparison of four properties there.

Like our earlier articles, we will look at the area and its amenities, what its attractions are, and state our preferred condo.

Amenities around the Singapore River

The area around the Singapore River is bustling with residential, commercial and retail properties. Historically, the Singapore River was the centre of trade, commerce, and finance, and the city as we know it today expanded from this area.

Along the riverfront, you can find private condos, waterfront hotels, restaurants, watering holes, and commercial skyscrapers. The surrounding areas also offer amenities like schools, recreation facilities and transport.

Although this area is primarily a commercial and retail area, there are a couple of schools in the vicinity including River Valley Primary School and Outram Secondary School.

Shopping malls here include Liang Court, which houses Meidi-ya Supermarket and Books Kinokuniya, UE Square, Clarke Quay Central, and Great World City. The number of eating establishments in these malls are plentiful. Besides eating places, Liang Court and GWC have quite a number of furniture shops as well.

The area around Clarke Quay, which is within walking distance from Robertson Quay, offers a variety of restaurants and drinking establishments. It is a pretty lively place at night, and great for an after-dinner stroll.

Those who enjoy the outdoors can visit nearby Fort Canning Park, a great place to walk, explore and relax.

Transport links are not too shabby either. Public connection to the rest of Singapore is via Clarke Quay MRT Station (NE Line). In addition, numerous buses ply along Havelock Road, Kim Seng Road and Clemenceau Avenue. Residents who drive have access to the rest of the island via the Central Expressway (CTE).

Condos for Comparison

The fours condos we will be comparing today include River Place, The Quayside, The Pier at Robertson, and Watermark Robertson Quay.

Condo #1 –River Place

Our first condo, located along Havelock Road, is River Place, a project completed in 2000 by Far East Organisation.

Figure 1: River Place

Condo #2 –The Quayside

The second condo featured is The Quayside, completed in 1998 by Robertson Quay Development Pte Ltd. It is located at Robertson Quay.

Figure 2: The Quayside

Condo #3 – The Pier at Robertson

The Pier at Robertson, located on Mohamed Sultan Road, was completed in2006 by City Developments Ltd.

Figure 3: The Pier at Robertson

 

Condo #4 – Watermark at Robertson Quay

This is a Hong Leong Holdings Ltd freehold development completed in 2008. It is located at Rodyk Street.

Figure 4: Watermark at Robertson Quay

 

Comparing the Condos

The Quayside is the oldest of the four condos, while Watermark at Robertson Quay is the newest. Two of the condos are 99-year leasehold projects, while the other two are freehold projects.

Surrounding amenities within walking distance are similar for all the condos which are located within a radius of 350 metres. These include Liang Court, UE Shopping Centre, Clarke Quay, River Valley Primary School, Outram Secondary School, and Pearl’s Hill City Park.

For public transport, The Pier at Robertson is the condo closest to the Fort Canning MRT station, and thus has a slight advantage over the others.

Except for The Quayside, the number of transactions over the last twelve months for the featured condos are healthy, with River Place having the most number of transactions.

Among the condominiums, River Place has the most comprehensive facilities, and the largest common area.

In terms of average psf price, the differential between the freehold and the leasehold developments is in the range of $500 to $600 psf.

For the leasehold projects, River Place commands a slightly higher psf price compared to The Quayside.

For the freehold developments, The Pier at Robertson commands a higher average psf of about $100 over Watermark at Robertson. Personally, I think this is because The Pier has a better river frontage than the Watermark.

My preference

This is a tough one. I like River Place as the facilities are comprehensive, and the grounds are spacious and pleasant. It also has a resort feel.

I will probably strike off The Quayside as the facilities are limited, due to it having only 79 units.

The other two developments are freehold projects, but have less facilities than River Place, and the grounds are not as spacious.

Based on the average psf price for the last 12 months, assuming a 2 bedder of 1000 sf, a unit at The Pier will cost $1.812m while one at River Place will set one back by $1.273m.

If I had to choose, I will probably go for River Place. Although it has only 77 years left on its lease, I really like the spaciousness of the development. Simply put, this is an instance where the heart, rather than the head, rules!

by Propwise.sg on February 23, 2018 · 0 comments

Posted in Singapore Property Market

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