Unbiased New Launch Review – Seaside Residences

October 30, 2017

UnbiasedNew Launch Review – Seaside Residences

By KK Tong (guest contributor)

“The seaside is now called home” – this is the tag line for Seaside Residences, a new condominium development located at Siglap Link in District 15. Well, it seems that the tag line did ring true, as 392 units were sold at an average sale price of $1700 psf on the launch weekend in April 2017.

This 843-unit condominium is jointly developed by Frasers Centrepoint, Sekisui House and Keong Hong Holdings.The 99-year leasehold condominium, at 27-storeys high, will have unblocked sea views and convenient access to the future Siglap MRT Station on the Thomson-East Coast line.

It sits on a site area of 207,849 sqftand the expected TOP for the development is April 2021.

The unit types are:

The development has 4 blocks of 27-storey towers, as well as 2 shops. There is a total of 843 + 6 accessible parking lots. The main entrance is at Siglap Link, which runs parallel to the East Coast Parkway (ECP).

Figure 1: Site Plan

Besides the usual condominium facilities, the development also provides two sky terraces on Level 14. One is located at Towers 10 and 12, and the other at Towers 16 and 18. A sky lounge and a 115-m long infinity pool are located at the sky terraces – a perfect place to relax.

Thoughts from Show Flat Visit

Figure 2: Floor Plan of Type B2(2 BedroomViva)

This particular unit is a comfortably-sized 786 square feet. There is a small foyer at the entrance leading to the kitchen on the left and the living area/balcony straight ahead. Bedrooms and bathrooms are located off the living area.

Figure 3: Kitchen/Dining Area

For a 2-bedroom unit, the kitchen is a reasonably adequate size with sufficient storage space. However, the dining area extends out from the kitchen counter and seems a little cramped.I guess this is a compromise as the living area is pretty roomy. The kitchen comes with standard equipment like a ceramic hob, an oven, a fridge and a washer.

Figure 4: Living / Balcony Areas

The living and balcony areas are well proportioned and offerone a sense of space.  The viewing distance from the television is pretty good compared to many 2-bedroom units in other new developments.

Figure 5: Balcony

The balcony may be a little small, but if there is a need, a small dining set can be accommodated. This will create amore generousliving area.

Figure 6: Master Bedroom

The master bedroom is a comfortable size as the space between the bed and the wall is fairly wide, leaving more than sufficient walking space for the occupants. The wardrobe is L-shaped and is tucked into a corner, thus creating more usable space in the room.

Figure 7: Area Map

Amenities around the area

Situated in an enclave of private housing, Seaside Residences may well be a hit with buyers who place a premium on exclusivity. Close by to this development are the mature towns of Marine Parade and Bedok, which will provide plentiful amenities to residents here.

Grocery shopping can easily be done at Parkway Parade or Bedok Point, both within a short driving distance. Besides groceries, these malls offer a plethora of retail therapy, entertainment options, and dining galore.

Other nearby places where good food can be found include the precincts of Katong andSiglap where coffee shops and cafes co-exist. Of course, there is also the East Coast Seafood Centre and the East Coast Lagoon Food Village, both located at the East Coast Park, just across the ECP.

Reading enthusiasts can get their fix from either of the public libraries at Marine Parade or Bedok.

At East Coast Park, all manner of sports can be enjoyed, be it cycling, roller blading, jogging, wind surfing, or beach volleyball. After all that activity, a great way to end the day is a BBQ on the beach with a cool sea breeze!

Schools in the vicinity include Ngee Ann Primary, Tao Nan, Victoria School, St Patrick’s and Victoria Junior College. Higher institutes of learning include Temasek Polytechnic and the Singapore University of Technology and Design, both about 5 km away.

Nearby medical facilities are available at Changi General Hospital.

Getting to other parts of Singapore is via the East Coast Parkway and the Pan Island Expressway. For those who do not drive, Siglap MRT Station (Thomson-East Coast Line, completion 2023) is about400metres away.

Positive Aspects of the Development

  1. The development is situated amidst private housing, so there is an element of exclusivity.
  2. The property is fronting the sea, so high units will have panoramic views of the sea.
  3. Sea-fronting units will probably be windy, as there is no blockage.
  4. East Coast Park is just across the ECP, and is a wonderful place to exercise, relax and just chill.
  5. There are many educational institutes in the area.
  6. East Coast is well-known for its abundance of good food.
  7. With the completion of the Thomson-East Coast Line, there will be improved connectivity to the rest of Singapore.

Negative Aspects of the Development

  1. Although sea-facing units will have sea views, they also have to contend with constant traffic noise from the ECP.
  2. Although conveniences are available in Bedok of Marine Parade, there are hardly any shops and conveniences within walking distance.
  3. Victoria School is just behind the development, and some school activities may be noisy.

Some Thoughts on Units

  1. Units facing Siglap Link parallel to the ECP are the sea-facing units. However, these are also the noisier units.
  2. Units facing Victoria school will have to bear with noise from school activities.
  3. Stack #1 is closest to the bin centre.
  4. Stack #34 is closest to the substation.
  5. Stack #3 is right at the entrance, which may face horning from impatient drivers.
  6. #29 faces the tennis court, which may be noisy.
  7. Stacks #1, #2, and #3 are the nearest units to the side gate, which provides access to the future Siglap MRT Station.
  8. Stacks with some afternoon sun include #9, #10, #11, #29, #30, and #31.

If I had to choose a unit, I would probably go for either #27 or #36 on a higher floor for the sea view.

Price Comparison

Figure 8: Location of Seaside Residencesand Surrounding Areas

Seaside Residences is located on the East Coast, and we will be comparing it with Mandarin Gardens and Fernwood, two nearby developments. Mandarin Gardens is a 99-year leasehold development with 1000 units, completed in 1986. It has 64 years left on its lease. Fernwood Towers is a 215-unit freehold development completed in 1994.

Price Comparison Table (2 bedrooms)

 

Price Comparison Table (3 bedrooms)

Prices for Seaside Residences

For the 2-bedroom units, we will compare Seaside Residences to Mandarin Gardens as Fernwood Towers does not have such units. Although higher in both PSF and quantum price, I would go for Seaside Residences. The PSF of Mandarin Gardens, although lower, is not attractive enough considering its balance lease.

For the 3-bedroom units, I would probably go for Fernwood Towers based on its freehold status. The unit size is pretty liveable as well. The prices for Seaside Residences are rather hefty, and while prices of Mandarin Gardens are palatable, its age is a deterrent.

 

by Propwise.sg on October 30, 2017 · 0 comments

Posted in Singapore Property Market

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