Avenue South Residences (ASR) is a new condo located at the junction of Kampong Bahru Rd and Silat Ave near Outram.
The condo was launched in Sept 2019 and received a hot reception from the public because of its competitive pricing and boost from PM Lee Hsien Loong’s comments on the Greater Southern Waterfron vision, where ASR is located close by.
If you’re considering a purchase at ASR, this post will give you important information and a run down of the project.
First up the details.
|Developer||UOL, UIC, Kheng Leong|
|TOP||31 Dec 2023|
|No of blocks||2|
|No of storeys||56|
|No of units||1074 residential units|
|Address||Junction of Kampong Bahru Rd and Silat Ave|
Here’s the latest elevation chart for reference.
ASR has mainly 1 and 2 bedroom units. The condo’s unit mix is broken down as follows.
- 1 bedroom = 242 units (23%)
- 2 bedroom = 504 units (47%)
- 3 bedroom = 224 units (21%)
- 4 bedroom = 104 units (10%)
- Total number of units = 1074
Plus points for ASR include being at the doorstep of the Greater Southern Waterfont City, which is a grand plan being developed by the government.
The plan involves the moving of Tanjong Pagar and Keppel port terminals to Tuas, the reclaiming of Keppel Golf Club for redevelopment of residential units and the transformation of the entire district.
The following map will give you an idea of where ASR is located.
ASR sits right at the doorstep of the Greater Southern Waterfront region.
In addition, the condo is located near the upcoming Keppel and Cantonment MRT stations.
Outram Park MRT which is an interchange is about 5-10 mins away by public transport
Pricing for ASR is as follows
- 1 bedroom, 474 sf, 858k
- 2 bedroom, 657 sf, 1.15m
- 3 bedroom, 947 sf, 1.6m
- 1 bedroom, 527 sf, 970k
- 2 bedroom, 657 sf, 1.19m
- 3 bedroom, 947 sf, 1.7m
- 4 bedroom, 1496 sf, 2.65m
- 1 bedroom, 527 sf, 1.195m
- 2 bedroom, 657 sf, 1.474m
- 3 bedroom, 947 sf, 2.064m
- 4 bedroom, 1,496 sf, 3.261m
The developer of ASR is slightly more innovative by differentiating the units into a heritage, horizon and peak collection.
Heritage 1 bedroom units are the smallest in size. Horizon and Peak collection has larger 1 bedroom units.
2-4 bedroom sizes for all the collections are similar.
ASR is made up of two towering blocks of 56 stories each, 11 and 13.
Floors 3 to 35 fall under the horizon collection. Floors 36 and above come under the peak collection.
Naturally, prices for units under the peak collection are higher because of the higher elevation and better views.
Units under the Heritage collection are found at blocks 1, 3, 5, 7 and 9. These are shorter blocks of 4 stories each.
Heritage units all have private lifts.
The 56th floor of blocks 11 and 13 have four private function rooms.
ASR is a mixed development and therefore has commercial shop units on the first floor.
ASR has a garden observatory and star-gazing alcove on the 52nd storey, hanging and wind garden on the 44th, sky court including a social garden and discovery garden on the 36th, firefly and scent garden on the 24th and rolling dunes and camp grounds on the 14th.
Interestingly, ASR provides concierge and other services such as complimentary fitness classes, pet services, private chefs and housekeeping.
Some of it come with extra charges though.
Nevertheless, the thought by the developer to provide such services is innovative.
Schools within 1 km include CHIJ Kellock, Radin Mas Primary and Zhangde Primary.
Schools within 1-2km include Alexandra Primary, Cantonment Primary and Gan Eng Seng Primary.
Nearby shopping malls include Vivocity, Harbourfront Centre, Tiong Bahru Plaza, Tanjong Pagar Plaza, Icon Village.
Notably, there is a large medical cluster nearby in the form of Singapore General Hospital and associated medical buildings such as National Heart Centre, Health Sciences Authority and Outram Polyclinic.
ASR is located in the central part of Singapore, as seen by its proximity to Raffles Place, Outram Park and Harbourfront.
As a result, there is excellent accessibility to many central parts of Singapore
Selected floor plans for 1 to 4 bedrooms can be found below.
The views toward the North and South of Singapore is fantastic.
Views toward the south i.e. the sea and port is undoubtedly better and more breathtaking.
Comparative Market Analysis
ASR is located in district 2 where the average price has been trending marginally upwards.
At last record in Aug 2019, average prices of non-landed condominums were approximately $2,500 psf.
ASR is priced very competitively when their selling prices are in the 1800 to 2300 psf range.
Nearby condominiums comparables to ASR include
- Highline Residences
- Spottiswoode Suites
- Spottiswoode 18
- Spottiswoode Residences
These projects registered average prices of $1,927 to $2,181 psf.
As mentioned earlier, ASR is quite competitively priced given that some of their prices are lower than resale prices.
Confirming the competitive pricing of ASR is it’s discount to a recently launched project, Sky Everton.
Sky Everton is registering average sale prices of $2,546 psf.
The key reason why ASR can offer such competitive prices is because of its relatively lower land cost.
This is especially so compared to Riviere, Sky Everton, One Pearl Bank and the Former Landmark Tower where land prices are (in psf per plot ratio terms) 1733, 1722, 1515 and 1406 respectively.
ASR has a land cost of 1138 psf.
Rental yields of projects in district 2 range from 2.4% to 3.8%.
For investors, it would be reasonable to assume average rental yields of ASR at approximately 3%.