Grandeur Park Residences

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Posted on November 21, 2016 by Reviewer

Grandeur Park Residences is a new condominium that will be launched for sale in early 2017. It occupies a rather attractive location – just beside Tanah Merah MRT station (with a covered linkway between, 50 metres or 1 minute walk), in a private residential estate that combines a condominium belt with low-rise landed housing.

Latest Update: Grandeur Park Residences is sold out. If you are still interested in getting a unit in this location, you may be interested to know that a new project will be launching in 2022, just opposite New Upper Changi Road. To be called Sceneca Residence, the new project has arguably more points in its favour.

One of which is that Sceneca Residence is a mixed development, basically the Sceneca condo itself with its apartment towers and facilities, and the podium block housing the Sceneca Square commercial component at ground level. Sceneca Square will offer shops and dining outlets, and serve not just the Sceneca condo residents, but also those from the surround private residential estate.

In addition this new project will be located right beside, and connected directly via sheltered link with Tanah Merah MRT station. The Sceneca Residence showflat will only launch for sale around mid 2022. Please let us know if you would like to register for a viewing, as there are limited viewing slots available. Hence pre-registration is required.

We will also keep you updated on the Sceneca Residence prices and floor plans as soon as these are available too. Lentor Modern is being developed by MCC Land, who was responsible for Poiz Residence and shopping centre beside Potong Pasir MRT station too. So they are no strangers to building mixed developments.

Artist’s Impression . Grandeur Park Residences Aqua Gym

As the aerial view below shows, the south of the site that fronts Jalan Limau Kasturi (see map at end of page) also overlooks the landed homes of Bedok Ville. From there towards East Coast Park, it is pretty generally low-rise.

Higher floor units facing that way can expect the south winds, and perhaps even glimpses of the sea. These units will likely be snapped up first.

There are not many new homes on the doorstep of an MRT station that get unblocked landed views. If you would like to be kept updated on this Grandeur Park condo, just leave your contact details below.

Aerial View of the Grandeur Park Residences Site :: Courtesy of URA

Artist’s Impression :: The Grandeur Park Residences Condominium

Highlights of Grandeur Park Residences

Location beside Tanah Merah MRT station. One of the rare sites that are right next to an MRT station. Nearest station exit is on same side of the road, about 50 metres or one minute walk via sheltered linkway, from Grandeur Park side gate.

18 minutes direct train ride to the CBD & Marina Bay Financial Centre.

One train stop to SUTD, Changi International Business Park, Bedok Town Centre.

2 train stops to Changi International Airport and the exciting shopping & dining experiences of the upcoming Project Jewel at Changi Airport (See details here).

Grandeur Park Residences can expect rental demand from PMETs working at the nearby Changi Business Park, Logistics & Industrial hubs.

Close to the leisure activities and beaches of East Coast Park and Tanjong Katong. Which is another popular residential neighbourhood, with several new condo launches like Tembusu Grand, Grand Dunman, and the Continuum. (While Tembusu Grand and Grand Dunman are 99-year leasehold projects like Grandeur Park, the Continuum condo is a freehold project.)

Sited in an established residential estate at Bedok South Avenue 3. Walking distance from amenities like the Bedok Swimming Complex and Sports & Fitness Center, and the markets, shops and food centres at the HDB estate across the road.

Low-rise landed housing on its south makes for a breezier & quieter environment.

The location of Grandeur Park condo makes it an attractive one for investors, as well as for parents securing a nice home for their families.

Grandeur Park Residence Location . Courtesy of URA . Click to Enlarge

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GRANDEUR PARK RESIDENCES · SHOWFLAT VIEWING · VIP PREVIEW

Please leave your contact details here if you would like to be kept updated on Grandeur Park condo. Good chance for early birds to pick a nice unit.

Update: Grandeur Park Residences is sold out. Thank you for your interest.

Grandeur Park Price Ranges

Posted on February 8, 2017 by Reviewer

Grandeur Park Price | Grandeur Park Indicative Pricing

The Grandeur Park indicative price ranges have just been announced, as follows:

DESCRIPTION	PRICE RANGE	SQ FT	SQ M
1 Bedroom	$557K – $695K	420	39
1BR + Study	$645K – $780K	452 – 474	42 – 44
2BR Classic	$729K – $945K	549 – 581	51 – 54
2BR Deluxe	$803K – $1.01M	592 – 624	55 – 58
2BR + Study	$913K – $1.07M	667 – 678	62 – 63
3BR Classic	$1.073M – $1.315M	883 – 893	82 – 83
3BR Deluxe	$1.269M – $1.44M	969 – 980	90 – 91
4BR Classic	$1.498M – $1.65M	1,130	105
4BR Deluxe	$1.609M – $1.775M	1,238	115
4BR Premium	$1.64M – $1.835M	1,238 – 1,270	115 – 118
5BR Premium w Pte Lift	$1.876M – $2.05M	1,453	135
Shops	From $3,500 PSF up	269 & 291	25 & 27

The above Grandeur Park price ranges look pretty reasonable for a location right next to an MRT station, and certainly lower than the nearest neighbouring launch.

If you have a very limited budget and would like one of the lowest priced units here, do sign up below to be one of the early birds, as such units tend to be snapped up on the first day of launch.

Grandeur Park Price · Grandeur Park Pricing Outlook

Grandeur Park Price . Location & Competitive Market Analysis

The URA land sale for this Grandeur Park site was pretty hotly contested by 8 bidders. In fact the top bids came in rather close, and it’s easy to see why. There are only so many sites that can fit immediately around an MRT station. In addition, land around stations are mostly already built up.

Tanah Merah is possibly one of the few to still have virgin land left on the East-West MRT line. Much of it is already taken up. There is only one small land parcel left across the road, and another plot between Grandeur Park and The Glades.

Analysts are expecting the last plots to be fiercely contested when URA finally releases them for sale, perhaps a couple of years down the road. In which case, it would be good for Grandeur Park buyers, as that would drive values further up.

Grandeur Park Price · Comparative Market Analysis

Where new launches are concerned, there is little competition to Grandeur Park. There have been no new launches around this location since the Glades launched in 2013.

The earlier launches like Urban Vista and eCo have sold out. The nearest developer sales on the East West MRT line with units still available are either Coco Palms in Pasir Ris, or Sims Urban Oasis at Aljunied.

Nearby, the Glades is now 93% sold, and remaining choices are limited. Average pricing for Glades was around $1,425 PSF, with one bedders starting from $700K up, 2 bedders from $840K up, and 3 bedders from $1.25M up, for similar sizes.

In comparison, the Grandeur Park price ranges look lower.

GRANDEUR PARK PRICE · SHOWFLAT VIEWING · VIP PREVIEW

Please register here to receive updates on the Grandeur Park Residences prices.

Update: Grandeur Park Residences is sold out. Thank you for your interest.

Grandeur Park Residences Showflat

Posted on February 7, 2017 by Reviewer

The Grandeur Park Residences showflat has the following 3 types of show units: a 2 bedroom classic, a 3 bedroom classic, and a 5 bedroom unit. Currently, the showflat shows an actual unit, as is the case with other completed projects too.

If you would like to view the Grandeur Park show unit, just drop us a line below.

Grandeur Park Residences Showflat · 2 Bedroom Classic

Grandeur Park Showflat 2 Bedroom Classic Floor Plan . Click to Enlarge

This showcases a top floor 2 bedroom compact unit. Top floor units come with higher ceilings, 4.25m high, which allows for a platform furniture deck.

This concept suits the lifestyles of younger residents, perhaps creative individuals looking for extra space to act as a private workshop. (Designed by the team at ADDP Architects.)

The showflat is in bold exciting colours to cater to those with adventurous tastes, with dark wood paneling for a contrasting warm cozy ambience. A large tinted mirror highlights and emphasises the luxurious double volume space.

A cosy corner acts as a quiet reading alcove. The worktable is set parallel to the window to allow the occupant to enjoy the view whilst at work.

In the master bedroom, the mirror above the paneling highlights the generous high ceiling.

Grandeur Park Showflat · 3 Bedroom Classic

Grandeur Park Residences Showflat 3 Bedroom Classic Floor Plan . Click to Enlarge

This unit would suit a small family, perhaps of around 4 to 5 occupants. Such as working parents, with young or teenage children.

The entranceway is tucked in, to maximise privacy. The rest of the unit is pretty efficiently designed, with little space wastage, which makes it possible to fit in a good number of functions within the small envelope.

In the show unit, a common space in the form of a study area has been created adjacent to the living room, encouraging the family to spend time together while pursuing separate activities. The parents can be working at the desk while one child watches TV, and another plays in a corner. Yet they are all in view of each other and within earshot, opening up the lines of communication among them.

In one bedroom, a desk is cantilevered at the foot of the bed, creating an unlikely study area from an otherwise unusable space. Here, books can be stored on the cantilevered shelves as well.

The master bedroom gives the parents a place of their own, to relax and chill out in, with its own balcony.

Grandeur Park Residences Showflat · 5 Bedroom with Private Lift

Grandeur Park Showflat 5 Bedroom Floor Plan . Click to Enlarge

This unit type has its own private lift, with a separate service back door.

It comes with a junior master bedroom near the entrance foyer. So you can reconfigure it (at your own cost) into a dual key unit, if you prefer.

GRANDEUR PARK RESIDENCES SHOWFLAT · VIEWING · VIP PREVIEW

Please register here if you would like to view the Grandeur Park showflat.

Update: Grandeur Park Residences is fully sold out. Thank you for your interest.

Grandeur Park Maintenance Fees

Posted on February 6, 2017 by Reviewer

Grandeur Park Maintenance Fees · Estimated Monthly Fees

Estimated Grandeur Park Residences monthly maintenance fees as follows.

Note that these are just rough estimates, and that the actual figures will be determined at a later stage closer to completion of the project, subject to market forces then. (Interestingly, the maintenance fees here are very similar to those for Leedon Green, with the monthly fees for their respective one bedders starting at $240, going on to $290 for the 2 bedders, and so on. Even though Leedon Green is more a luxury product in District 10.)

DESCRIPTION	SQ FT	SQ M	ESTIMATED MONTHLY MAINTENANCE FEE
1 Bedroom	420 – 474	39 – 44	$240
1 Bedroom PH	420 – 474	39 – 44	$290
1 Bedroom + Study	420 – 474	39 – 44	$240
1 Bedroom + Study PH	420 – 474	39 – 44	$290
2 Bedroom	549 – 667	51 – 62	$290
2 Bedroom PH	549 – 667	51 – 62	$290
2 Bedroom + Study	549 – 667	51 – 62	$290
2 Bedroom + Study PH	549 – 667	51 – 62	$290
3 Bedroom	883 – 980	82 – 91	$290
3 Bedroom PH	883 – 980	82 – 91	$330
4 Bedroom	1,130 – 1,453	105 – 135	$330
4 Bedroom PH	1,130 – 1,453	105 – 135	$330
5 Bedroom	1,130 – 1,453	105 – 135	$330
5 Bedroom PH	1,130 – 1,453	105 – 135	TBA

Grandeur Park Residences Price

Posted on November 30, 2016 by Reviewer

Grandeur Park Prices | Grandeur Park Residences Price

The land sale for this project garnered a total of 8 bids at the close of its public tender by URA in February 2016. Chip Eng Seng’s subsidiary, CEL Residential Development, won the tussle with a top bid of S$419.38 million. This translates to S$8,186.54 per sq m, or $761 PSF PPR (per sq ft per plot ratio) for land cost.

The 2nd highest bid was submitted by Allgreen Properties. At S$415.89 million, or $754 PSF PPR, it was just 0.8% lower. It marks a recent trend where top bids are not as far off the others as before. Could well indicate that sites are being sold at more conservative values, which augurs well for buyers.

Mr Desmond Sim, head of CBRE Research (Singapore & South East Asia), commented that: “This plot benefits from its proximity to Tanah Merah MRT station in a relatively mature & established estate.”

“That the site was triggered from the Reserve List, indicates developers are maintaining a healthy interest in sites, especially in those with a relatively palatable quantum & with time on their side,” he added.

Grandeur Park Residences Price · Grandeur Park Pricing Analysis

CEL Development proposed a condominium development with full facilities, in a public statement to the Singapore Exchange in February 2016. According to the statement, the site, currently covered by dense trees, will have around 720 residential apartments and a childcare centre. 500 sq m or 5,382 sq ft, of the maximum 51,228 sq m of Gross Floor Area (GFA) is set aside for the child care centre.

Taking into account the remaining GFA, and assuming financing, construction & overheads of $400 PSF on top of the $761 PSF land price, break-even could translate to around $1,160 PSF.

This might work out to an average Grandeur Park Residences price of between $1,350 to $1,450 PSF, depending on the unit size, level and facing. This is just slightly below the expected launch pricing for the Penrose at Sims Drive. (Note that Penrose, though closer to the CBD, requires a 6 minute walk to the nearest MRT station.)

Note: Bear in mind that average pricing usually reflects pricing of mid-size units, like the 3 & 4 bedroom units. PSF pricing of one & 2 bedroom units are usually a fair bit higher than the average PSF for a project.

Grandeur Park Residences Price · Market Analysis

CEL paid 3.8% less for the Granduer Park site than what Sherwood Development paid in October 2012 for the adjacent Glades condominium site. $761 PSF for Granduer Park compared to $791 PSF for Glades.

Average selling price for The Glades is around $1,425 PSF. As the Glades is on the same side of Upper Changi Road, and the same walking distance from Tanah Merah MRT station, it could give a pretty good idea of what Grandeur Park Residences price range to expect.

Despite all the bad news in the press, there is actually not much competition around here where new developer units are concerned. That’s because neighbouring projects have substantially sold out. Urban Vista is sold out, as are Optima and eCo. The Glades is over 90% sold.

See this link for the news article report on the land sale (opens in new window).

Fast forward to 2022, and it would be interesting to see how prices compare in the light of hindsight. For instance, the Reserve Residences site at Beauty World MRT station garnered a top bid of $989 PSF for its land tender. On paper, given the $228 PSF gap between Grandeur Park and the Reserve Residences condo, one might expect to see the Reserve condo launching at around $1,700 PSF, or about $250 PSF above the launch price of Grandeur Park.

However that will not be the case. Besides the rise in land cost, construction costs have gone up by leaps and bounds. Raw materials have drastically risen in price. Manpower costs have increased too. So expect to see pricing at close to $2,000 PSF when the Reserve Residences launch starts. Those who bought Grandeur Park at around $1,4xx PSF when it launched, are obviously sitting on some nice capital gains.

Do drop us a note if you would like to book a viewing slot for the Reserve Residences launch in mid 2022. The developer is a joint venture of Far East Organisation, and its Hong Kong-listed sister company Sino Group.

GRANDEUR PARK RESIDENCES PRICE · SHOWFLAT VIEWING · VIP PREVIEW

Please register here to receive updates on the Grandeur Park prices once available.

Update: Grandeur Park Residences is 100% sold out. Thank you for your interest.