The Affinity Condo (former Serangoon Ville) at Serangoon by Oxley

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Affinity condo (former Serangoon Ville) at Serangoon is an upcoming development slated to be launched by Oxley.

This post will give you a review of The Affinity Condo, pricing, floor plans, site plans, showflat location and information you need to make a wise investment decision.

The tag line of the condo is “Come home to all that you cherish”. Affinity condo has all you need for your housing, investment and retirement needs.

Use the following quick navigation content page, contact us immediately to find out more about Affinity Condo (former Serangoon Ville).

Quick Navigation

  1. Condominium summary
  2. Key selling points
  3. Condominium location
  4. Unit mix
  5. Floor plans
  6. Pricing
  7. Showflat location
  8. Site plan
  9. Gallery and views
  10. Condominium facilities
  11. Surrounding amenities i.e. Transport, education, healthcare, shopping/entertainment and outdoor/fitness amenities
  12. Government masterplan
  13. Micro-market environment: Demand; supply; rents and yields; prices; land prices
  14. Interest rates
  15. Site background
  16. Contact us/register interest
  17. Other project information

Condominium summary

Project name The Affinity Condo (former Serangoon Ville)
Number of units 1,012 apartments
40 strata landed houses
5 commercial units
Target showflat preview date End May 2018
(Our contact form)
Showflat address To be released shortly.

Key attractions

  • Large sized condo with many facilities
  • Mix of non-landed, strata landed and commercial units in the development
  • Former Serangoon Ville and likely to have design and architecture that does justice to the history of the development
  • Nestled right beside the landed estates of Chuan Garden, Brighton Crescent, Serangoon area, the Affinity Condo will offer fantastic condo living by a landed area.
  • Near Rosyth School

Condominium location

The Affinity Condo is located along Yio Chu Kang Road and Serangoon North Ave 1.

The Affinity condo is near landmarks such as Kovan, Hougang and Ang Mo Kio MRT. Rosyth School is a stone’s throw from the area, as is Chomp Chomp food centre.

Affinity condo map 2

Unit mix

The Affinity condo is likely to have a mix of 1 to 5 bedroom units.

In addition, there will be 40 strata landed houses so this is a good chance for those who desire to stay in such a housing type to take their chance.

Floor plans

Floor plans for the project will be released shortly.

Pricing

Based on in house and analyst estimates, pricing for The Affinity will be around the S$1,600 to S$1,700 mark.

Showflat location

The actual showflat site for The Affinity has not been released but will likely be around the vicinity.

Site plan

Gallery and views

Condominium facilities

As a large sized condo of more than 1,000 units, The Affinity is likely to have numerous facilities, multiple swimming pools, gym, reading rooms, BBQ areas, exercise spots among many others.

Surrounding amenities

The following will give you an idea of the transport, education, healthcare, shopping/entertainment and fitness/outdoor amenities around the development.

Transport

The Affinity condo is beside a bus stop that has services such as 43, 70, 73, 76, 109, 116 147, 156 among others. There should be no problem travelling to various parts of the island using public bus.

In addition to public bus, there may be a MRT station on the Cross Island Line in the vicinity.

The Cross Island Line will bring people from the East (Changi Airport) to the West (Jurong) seamlessly. This will allow for greater convenience to residents in The Affinity Condo, as they do not need to travel to the other MRT stations such as Kovan, Hougang and Ang Mo Kio that are slightly further.

The Central Expressway (CTE) exit is also a short drive away. From there, it will be an approximately 10 min drive either way to town or north towards woodlands.

Education

According to OneMap, there are the following primary schools near the project.

Within 1km – Rosyth School, Zhonghua Primary

Within 2km – CHIJ Our Lady of Good Counsel, Hougang Primary, Montfort Junior, Xinghua Primary, Xinmin Primary, Yangzheng Primary, Yio Chu Kang Primary

Other secondary schools, institutes of higher education/learning, private and international schools include (not necessarily within 2 km)

Secondary schools: Serangoon Garden Secondary, Bowen Seconday, Xinmin Secondary School, Peicai Secondary

Higher education: Serangoon Junior College

Private and international schools: Australian International School

Shopping, entertainment, food, drinks etc.

Some of the nearby shopping malls include Heartland Mall at Kovan, Hougang Mall, NEX at Serangoon, Junction 8 at Bishan and Ang Mo Kio Hub.

Outdoor/fitness amenities

Nearby sports and outdoor amenities include the Bishan Ang Mo Kio Park, Bishan Stadium, Serangoon stadium and Hougang sports complex.

Government masterplan

The biggest government infrastructure initiative in the area in the coming years will be the Cross Island Line that will be built by 2030.

As there will be a likely station in the vicinity, the residents of The Affinity will be able to benefit from increased convenience and accessibility to various parts of the island.

Micro-market environment

The following sections will provide a snapshot of the micro-market health where the condo is situated.

Demand

For landlords, where is tenant demand going to come from?

Should you be thinking of buying a unit for investment, potential tenant demand is likely to come from all over the island.

As the area is situated fairly in the middle between the Northern part of Singapore and the CBD, there is likely to be tenant demand from those working both in the North and in the CBD.

In addition, the Punggol area which will be transformed into a digital district may contribute some form of tenant demand.

Supply

For buyers, what other new launches are available now and in future?

If you’re a buyer looking to buy a new condominium, Parkwood residences, The Garden Residences, Jade Scape (ex Shunfu Ville), Riverfront Residences (ex Rio Casa) could also be considered.

Rents and yields

Based on Squarefoot research data, surrounding projects around The Affinity are fetching rental yields of between 2.2% and 2.9%.

The projects include 3@Phillips (2.9%), Rosyth Lodge (2.9%), KJ Mansion (2.2%), Leith Grove (2.3%) and The Waterline (2.3%).

In One Rosyth, 3 bedroom units are asking for rents of about S$2,500. This is similar for KJ Mansion nearby too.

At The Waterline, 2 bedroom units are asking for rents about S$2,400 while 3 bedroom units are asking about S$4,000.

Interest rates

1 and 3 month SIBOR rates are have climbed marginally but remain at historical lows.

1 month and 3 month rates are at 1.37% and 1.50% respectively.

SIBOR and SOR 2

Do check out the quick reference page we have on SIBOR and SOR rates

Site background

Privatised HUDC estate Serangoon Ville in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium for $499 million, as collective sale fever grows even hotter.

The price is well above the $400 million to $430 million the owners had been expecting when the property was put on the market last month.

The sale marks the sixth collective deal so far this year – already double the three deals in all of last year and is the third former HUDC project to succeed in the collective sale market this year.

The buyer, joint venture firm Oxley Serangoon, comprises partners including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings.

The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.

The additional charges and purchase price work out to a land rate of $835 per sq ft per plot ratio, noted marketing agent ERA Realty Network.

“We saw very competitive bidding involving more than five bidders.

All of them offered prices above what the owners had asked for,” Mr Stanley Koo, ERA division director, told The Straits Times. Serangoon Ville comprises 244 apartments and maisonettes across seven blocks, with sizes ranging from 1,625 sq ft to 1,733 sq ft.

Each owner will receive about $2 million from the sale – much higher than the $1.6 million to $1.7 million they had hoped for earlier.

Sitting on a 296,913 sq ft triangular-shaped plot, it was privatised in 2014 and has 69 years of its lease left.

It is near the Australian International School and the popular Rosyth School.

It is first-time lucky for owners. Sales committee chairman Anthony Lee put the success down to good timing as the tender hit the market when it is picking up.

“After the sale, I will likely buy a resale HDB flat and use the remaining money to help my children buy homes,” said Mr Lee, 69, a retiree who has lived in the estate since 1989.

This is the second dip into the collective sale market this year for many of the consortium partners.

In May, KSH, Oxley, Lian Beng and Apricot Capital teamed up to buy former HUDC estate Rio Casa in Hougang for $575 million.

Sales in the collective sale market have come thick and fast with nearly $2.1 billion of such sales from the six deals so far this year.

Source: Straits Times

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Other project information

More information will be released shortly


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