The Review Of Avenue South ResidenceEugene Koh's Property Review: Avenue South Residence by UOL group and Kheng Leong Co. The area not only has the benefit of a 99-year lease, but it also has zoning designated for at least 910,000 square feet that can be utilized for storefronts on the first story of the property and residences on the second story of it. The property was awarded to the lone bidder, which was the UOL Group and their subsidiaries.
By choosing a location that blends the tranquility of its green surroundings with the amenities of urban living, the Avenue South Residence avenue south residence condos are certain to draw attention from both investors and those looking to enjoy life in the beautiful Central Region of Singapore.
The 1.04 billion filed by UOL Group, UIC and Kheng Leong has increased a lot of questions in the real estate market as it feels like the programmer has overpaid to the Silat Avenue website, which can be situated in a comparatively'untested' region with almost no personal residential improvements around.
In particular, properties that are near to the city centre is highly sought after as there is a limit of available land for new launches since the Central Business District is almost fully build up including areas near to Outram MRT Station and Outram Park.
The tender for Avenue South Residence Silat Avenue government land site successfully won by Singapore-listed UOL Group in a joint venture with sister companies, United Industrial Corp and Kheng Leong Company of $1,035 billion or $1,138 psf per plot ratio (ppr).
The Avenue South Residences is a new residential development comprising two 56-storey high towers with seven commercial units at ground level, and five 4-storey high conserved Singapore Improvement Trust (SIT) blocks that add distinctiveness and character.
The following image from EdgeProp shows some recent developer sales units in district 3 including Stirling Residences as well as others like Queens Peak and Commonwealth Towers As for the Avenue South Residence price, the land price translates to about S$1138 per ppr and the break even price should be around S$1600 per square foot per plot ratio.
If you are looking for a brand new development in District 3 that is within close proximity to Greater Southern Waterfront with fantastic sea view, Avenue South Residence will be one of your top consideration as it is situated just 700 meters away from the future Cantonment MRT Station (CC31), Circle Line, which will be completed in 2023.
Extending from Pasir Panjang to Marina East, the transformation of the Greater Southern Waterfront, comprising over 2,000 hectares of prime waterfront land, will contribute to a dynamic city centre with exuberant business and lifestyle opportunities.