Alex Residences offers panoramic views
By Angela Teo
/ EdgeProp |
The Alexandra neighbourhood is among the city fringe areas that have undergone the most dramatic transformations. Among its many attractions are its proximity to the Good Class Bungalow estate of Jervois Road, the trendy cafés and rustic charm of Tiong Bahru, the CBD, Orchard Road and Robertson Quay.
The most transformed is the area that’s now called Alexandra View, fronting the Redhill MRT station. It used to be part of the Prince Charles Crescent HDB estate. However, the old HDB slab blocks with void deck shops have since been demolished.
The government started offering 99-year leasehold land parcels at Alexandra View for sale 12 years ago. The first sale of a development land parcel at Alexandra View was in 2005, and it was purchased by a joint venture between CapitaLand and Lippo Group. The new project on the site was launched as the 382-unit The Metropolitan condominium in November 2006 at an average price of $780 psf. The project was completed in 2009.
Today, there are five condos with a total of 2,092 units that bear the Alexandra View address, the latest being the 400-unit Artra, which was launched in May. Artra, a mixed-use development, will contain a supermarket, childcare centre and 16 commercial shops linked to the Redhill MRT station.
Rooftop swimming pool at Alex Residences, with views of Marina Bay and Orchard
Scaling new heights
To be completed by 4Q2017 is Alex Residences by Singapore Land. The 40-storey condominium tower, designed by P&T Architects & Engineers, consists of 429 units. Launched in November 2013, the project is more than 85% sold so far. Within the project, about 53% (228) are three-bedroom units of 883 to 1,141 sq ft. About 27% (114) are two-bedroom units of 657 to 678 sq ft, and the remaining 87 units (about 20%) are one-bedders of 474 to 506 sq ft.
Units typically have a floor-to-ceiling height of 3m. Those from the 39th floor onwards have loft-like spaces and a 4.6m ceiling height. Finishings and fittings include De Dietrich kitchen appliances, bathroom accessories from Hansgrohe and Laufen, as well as marble flooring.
In order to maximise access to the panoramic views at the top, the developers did away with the usual penthouses at the highest level. “It was a bold move to introduce an open roof terrace with communal facilities and a signature rooftop pool with magnificent views of the city,” says a Singapore Land spokesperson.
The facilities on the 40th floor — the 37m swimming pool, Jacuzzi, party lounge and sky garden — are accessible to all residents. “It’s a somewhat miniature edition of Marina Bay Sands’ Sky Park,” says Rick Wee, associate senior division director at Huttons Asia.
The tower has been orientated such that units above the 30th floor generally have unobstructed views, adds Wee. Those facing east will enjoy views of Marina Bay and Orchard, those facing the south will command views of Reflections at Keppel Bay and Sentosa Island and units facing the north will overlook the Good Class Bungalow neighbourhood of Jervois Road and Bukit Timah Hill and Nature Reserve.
The 360-degree vista of the skyline found at the roof level is accessible to all residents
Premium pricing
As such, units from the 26th to 39th floors have been sold at $1,877 to $2,164 psf, based on caveats lodged in July. Transactions at Alex Residences have also picked up since March. Huttons’ Wee attributes this to the project’s nearing completion, and the bullish land bids at recent government land tenders.
The buyers are predominantly young couples, especially professionals working in the CBD and Tanjong Pagar district, as well as investors. Alex Residences is also attractive as it is located within a short walk of the Redhill MRT station and yet is not affected by the noise of the passing trains.
In terms of potential rental fees, Huttons’ Wee suggests using the neighbouring 508-unit Echelon as a guide. This means one-bedroom units at Alex Residences could potentially achieve monthly rental rates of about $2,600, two-bedroom units, about $3,420, and three-bedroom units, of about $4,120. Echelon was completed last November and, to date, only one of the four penthouses in the development is still available. All other units have been sold.
The 40-storey Alex Residences is designed by P&T Architects & Engineers
This article appeared in The Edge Property Pullout, Issue 792 (Aug 14, 2017) of The Edge Singapore.
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