Penrose Sims Villa

[sinequa88]

if SUO resale units are hitting S$1,500 psf and above, i doubt Penrose will launch at anything below that. the resale stats should help to buoy the penrose launch. add in a new launch premium and I think maybe we will see prices at $1,5xx to $1,6xx psf


plus the market is not fantastic now and I dont think dev will be too aggressive.

given SUO is directly beside Penrose, these two should be quite well suited for direct comparison i think?

 

[urbanmale2004]

hi im a newbie too. Penrose is located next to the expressway if it doesnt matter to you. I read also when they won the bid during the GLS, part of the works required is for the winning developer to improve the road widening works quite substantially, as a tender condition. Hence even if they won the land at a low psf, they already factored in the construction cost, this may be overlooked by most, hence speculate the selling psf will be high too. Thats a reason why many developer prefer to dropped this site during the tender stage, hence not a popular site compared to Mattar road GLS, the current Antares site.

 

[NiShiZhu]

hi im a newbie too. Penrose is located next to the expressway if it doesnt matter to you. I read also when they won the bid during the GLS, part of the works required is for the winning developer to improve the road widening works quite substantially, as a tender condition. Hence even if they won the land at a low psf, they already factored in the construction cost, this may be overlooked by most, hence speculate the selling psf will be high too. Thats a reason why many developer prefer to dropped this site during the tender stage, hence not a popular site compared to Mattar road GLS, the current Antares site.

Interesting piece of info though I have not read about this.
That could be the reason why the land was bid Low as it comes with some catch.
It will be good if u can provide some source/links.

 

[daheigou999]

Interesting piece of info though I have not read about this.
That could be the reason why the land was bid Low as it comes with some catch.
It will be good if u can provide some source/links.

Each GLS would have technical details that are found on URA website. See clause 5.21 for Penrose

https://www.ura.gov.sg/Corporate/L.../media/47D4DAF813314A4983E8C2857802423C.ashx

 

[SethNg]

Each GLS would have technical details that are found on URA website. See clause 5.21 for Penrose

https://www.ura.gov.sg/Corporate/L.../media/47D4DAF813314A4983E8C2857802423C.ashx

Thanks for sharing

 

[Passerboy]

Each GLS would have technical details that are found on URA website. See clause 5.21 for Penrose

https://www.ura.gov.sg/Corporate/L.../media/47D4DAF813314A4983E8C2857802423C.ashx

Didn’t realise this till urbanmale2004 brought up and you shared. Tried finding it earlier but couldn’t find.

Thanks! Make us more informed now, widening of roads ain’t gg to be cheap I think.

 

[daheigou999]

Didn’t realise this till urbanmale2004 brought up and you shared. Tried finding it earlier but couldn’t find.

Thanks! Make us more informed now, widening of roads ain’t gg to be cheap I think.

No prob

It's similar to Kopar whereby they have to finish up the road connecting Makeway Avenue to Bukit Timah Road

 

[sinequa88]

No prob

It's similar to Kopar whereby they have to finish up the road connecting Makeway Avenue to Bukit Timah Road

URA tender conditions also showed the requirement to develop a CCC (Child Care Centre) facility as part of the development.


"Child Care Centre (CCC) Facility
4.2.1 The development is to include a Child Care Centre (CCC) for infant care
and child care services. The CCC shall be a minimum of 500 m2
in size to
accommodate a total of 100 children (including infants). The GFA for the
CCC will be computed as part of the maximum permissible GFA for the
development."



Is this a normal requirement for condos? Any reason in particular for Penrose to have this.

 

[Passerboy]

URA tender conditions also showed the requirement to develop a CCC (Child Care Centre) facility as part of the development.


"Child Care Centre (CCC) Facility
4.2.1 The development is to include a Child Care Centre (CCC) for infant care
and child care services. The CCC shall be a minimum of 500 m2
in size to
accommodate a total of 100 children (including infants). The GFA for the
CCC will be computed as part of the maximum permissible GFA for the
development."



Is this a normal requirement for condos? Any reason in particular for Penrose to have this.

It’s not a norm, but having CC facilities would be helpful not only to residents at Penrose but also benefit those staying nearby.

 

[daheigou999]

URA tender conditions also showed the requirement to develop a CCC (Child Care Centre) facility as part of the development.


"Child Care Centre (CCC) Facility
4.2.1 The development is to include a Child Care Centre (CCC) for infant care
and child care services. The CCC shall be a minimum of 500 m2
in size to
accommodate a total of 100 children (including infants). The GFA for the
CCC will be computed as part of the maximum permissible GFA for the
development."



Is this a normal requirement for condos? Any reason in particular for Penrose to have this.

I recall Avenue South Residences having similar requirements also

Guess they just did a study and realise that CC facilities there are inadequate? It’s a good initiative actually

 

[1993newbie]

Park place Residences first few units rental caveat out for March 2020.

1 bedder > $2600-2700
2 bedder > $3500 & 3900

 

[propertyinvestor40]

does not take into account transaction costs and the effect of financing.
Source: URA, https://www.squarefoot.com.sg
SOLD
ON ADDRESS UNIT AREA
(SQFT) SALE PRICE
(S$ PSF) BOUGHT
ON PURCHASE PRICE
(S$ PSF) PROFIT
(S$) HOLDING PERIOD
(DAYS) ANNUALISED
(%)
17 MAR 2020 409 1,582 16 MAR 2015 1,426 63,557 1,828 2.1


Latest Suo sold at 1600 psf. Wonder how much will penrose start

 

[Passerboy]

does not take into account transaction costs and the effect of financing.
Source: URA, https://www.squarefoot.com.sg
SOLD
ON ADDRESS UNIT AREA
(SQFT) SALE PRICE
(S$ PSF) BOUGHT
ON PURCHASE PRICE
(S$ PSF) PROFIT
(S$) HOLDING PERIOD
(DAYS) ANNUALISED
(%)
17 MAR 2020 409 1,582 16 MAR 2015 1,426 63,557 1,828 2.1


Latest Suo sold at 1600 psf. Wonder how much will penrose start

I am quite certain Penrose prices would mirror SUO even in current climate, reason being SUO is already a resale and Penrose would be “new”, it could even possibly have a v slight premium (due to market softness) now.

So u can use SUO as a guide likely 15xxpsf up.

 

[Passerboy]

One two bedroom unit (700sqf) at Tre Residences (Aljunied) transacted on 1/4/2020 at $1.2m ($1715psf)

This would likely set the tone of prices at Penrose, psf wise very similar to Parc Esta.

 

[1993newbie]

Yup, 3 years holding period for that unit.
First owner bought it lower as compared to 2014 buyers.

Sold for $1.2mil. Bought at $1.03mil.
$197k profit in 3 years.

It’s a 2+Study unit type btw. With 2 toilets.

One two bedroom unit (700sqf) at Tre Residences (Aljunied) transacted on 1/4/2020 at $1.2m ($1715psf)

This would likely set the tone of prices at Penrose, psf wise very similar to Parc Esta.

 

[holasingapura]

One two bedroom unit (700sqf) at Tre Residences (Aljunied) transacted on 1/4/2020 at $1.2m ($1715psf)

This would likely set the tone of prices at Penrose, psf wise very similar to Parc Esta.

One transaction can set the tone?

Then that sole 2k psf transaction at tampines will set the tone for tampines ec launch too.

Sims would be a better comparison. Out of these 3 projects, penrose is at the worst location.

 

[Passerboy]

One transaction can set the tone?

Then that sole 2k psf transaction at tampines will set the tone for tampines ec launch too.

Sims would be a better comparison. Out of these 3 projects, penrose is at the worst location.

Agreed that SUO would be a like to like comparison given that Penrose is just beside, but Tre Residence is same vicinity and latest transaction.

 

[propertyinvestor40]

One transaction can set the tone?

Then that sole 2k psf transaction at tampines will set the tone for tampines ec launch too.

Sims would be a better comparison. Out of these 3 projects, penrose is at the worst location.

So penrose good or not? From your opinion.

 

[urbanmale2004]

Hihi! Am very new to the property scene in Singapore, though I have been secretly enjoying reading the advice by NiShiZhu and newbie1993 as a non-member of this forum hahahaha Am considering to take a look at the upcoming Penrose project at Aljunied, and will like to know what do you guys think about this project and if it will be worth purchasing (likely for own stay I'm not sure yet)?

Thanks!

The agent gave me an indicative pricing of starting from $1600 psf for a 1br at 484sqf, that works out the cheapest to be $774,400. The price goes up to $1700 psf for the better stacks.

 

[urbanmale2004]

for sharing

1 (484 sqft) from $1600 psf onwards
1+1 (549 sqft) from $1600 psf onwards
2 (635 sqdr) from $1550psf onwards