Garden Residences condo by Wing Tai and Keppel at Serangoon

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Garden Residences at Serangoon is an upcoming condominium slated to be launched by Keppel Land and Wing Tai.

This post will give you a review of The Garden Residences, pricing, floor plans, site plan, showflat location and information you need to make an informed investment decision.

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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
  14. Interest rates
  15. Site background
  16. Developer background
  17. Contact us/register interest
  18. Other project information

Condominium summary

Project name The Garden Residences
Address 15 Serangoon North Ave 1 S555888
Developer Keppel Land and Wing Tai
Site area 184,954 sqft
Gross floor are 462,389 sqft
No of blocks To be advised
No of storeys To be advised
No of units 505
Tenure 99 years
TOP To be advised
District 19

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Key selling points

  • Rare chance for those who missed out on Hundred Palms EC to now get a private condo
  • In the area of a likely Cross Island Line MRT
  • Reputable developers Keppel Land and Wing Tai
  • 1 km from Rosyth School
  • Near schools such as Raffles Institution and Nanyang JC
  • Near international schools such as Australia International School
  • Potential rental demand arising from future Cross Island Line
  • Near food enclaves such as Chomp Chomp and Kovan area
  • Near exit to Central Expressway (CTE)

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Condominium location

The Garden Residences is located along Serangoon North Ave 1 S555888, beside Kensington Park and West of HDB blocks 122 to 127.

Unit mix

Information on The Garden Residences’ unit mix will be out shortly. Contact us to stay updated.

Given the medium to large size of the development, it is very likely that Garden Residences will have a mix of 1 to 5 bedroom units.

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Floor plans

Floor plans will be released shortly. Contact us to stay updated.

Pricing

Condominium resale prices have been climbing rapidly over the last few quarters so this might be a chance to grab a city fringe condominium at an attractive price.

Prices will be out shortly.

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Showflat location

The Garden Residences’ showflat will likely be situated on the site of the development itself given the large plot of land.

Get on our contact list and once the showflat address is released we will notify you.

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Site plan

Site plan for the Garden Residences will be out shortly. Contact us to stay in touch.

Gallery and views

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Condominium facilities

The Garden Residences is a mid to large size condo and will likely have typical condominium facilities such as swimming pools, kids play areas, gymnasium, reading rooms, sky gardens, rooftop dining and bbq areas etc.

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Surrounding amenities

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

Transport

Located a short walk along Serangoon North Avenue 1 from where The Garden Residences is located is a bus stop that has service 315.

More services can be found along Ang Mo Kio Ave 3 which is a 3 min walk north of The Garden Residences.

This bus stop has services 25, 55, 73, 74, 76, 132, 165, 581, 660 and 723.

The two nearest existing train stations are either Ang Mo Kio or Kovan MRT.

When the cross island line is constructed in 2030, there is likely to be an MRT station in the vicinity of The Gardens Residences.

As of writing of this review, the government has not yet released confirmed locations for MRT stations for the Cross Island Line.

Once the Cross Island Line is up, residents in this area and the Garden Residences will experience a big jump in transport convenience, being able to go from west to east relatively quickly.

The Garden Residences is also located near exit 12A of the Central Expressway (CTE).

The exit is only a short 3 min drive away. From here, the travel time to town is about 15 to 20 mins.

Travel time may be longer during peak hours.

Nevertheless, the Garden Residences enjoys relatively good transport connectivity, both present and in future, with all forms of public transport.

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Education

According to OneMap, there are the following primary schools within a 2km radius of The Garden Residences.

One very attractive feature of the project is its proximity to Rosyth School, arguably one of the most popular primary schools in Singapore.

Within 1km

  • Rosyth School
  • Zhonghua Primary School

Within 2km

  • CHIJ Our Lady of Good Counsel
  • Hougang Primary School
  • Xinmin Primary School
  • Yangzheng Primary School
  • Yio Chu Kang Primary School

Other nearby primary schools

  • Montfort Junior School

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

Secondary schools:

  • Serangoon Garden Secondary School
  • Xinmin Secondary School
  • Montfort Secondary School
  • Chong Boon Secondary School

Higher education:

  • ITE College Central

Private and international schools:

  • Dimensions International College
  • Australia International School

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Healthcare

Sengkang General Hospital is one of the nearest hospitals to The Garden Residences.

Given the proximity to town centres such as Kovan, Hougang and Ang Mo Kio, there will be no lack of healthcare amenities.

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Shopping, entertainment, food, drinks etc.

There is no lack of shopping and entertainment amenities around The Garden Residences.

Nearby shopping malls include heartland mall, NEX at Serangoon, Ang Mo Kio Hub, Hougang Mall and Junction 8 at Bishan.

The famous Chomp Chomp food centre at Serangoon Garden Way is a short walk away from the project.

Even though the Chomp Chomp is a hawker centre, it is very popular with residents, yound and old, near and far.

Chomp Chomp

The Jumbo Serangoon seafood restaurant is also located a short walk from Chomp Chomp and The Garden Residences.

For those who want to venture further, the Kovan area has many eateries such as Bee Kee Wanton Noodle, Lau Wang Claypot delights, Punggol Noodles and Heng Leong Teochew Porridge among many others.

Residents of The Garden Residences won’t have any worry in getting food for breakfast or supper, and daily necesities with the number of malls nearby.

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Outdoor/fitness amenities

Those who are more fitness minded will be pleased to know that Hougang Stadium, swimming complex and sports hall is not far from the development.

The Bishan area also has sport halls and the Bishan Ang Mo Kio River Plains which is across the CTE.

There are small parks nearby such as the Tavistock Avenue Park nestled among the landed properties and an amphitheatre near Hougang St 42.

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Government masterplan

Two major infrastructure plans that will impact the Gardens Residences are

  • Cross Island Line
  • Punggol Digital District

Cross Island Line

The Cross Island Line will arguably have a greater impact because of its proximity to The Garden Residences.

The Cross Island Line will span Singapore and be about 50km in length.

It is targeted to be completed around 2030.

The line will start from Changi, pass through Loyang, Pasir Ris, Hougang, Ang Mo Kio, Bukit Timah and end up eventually at Jurong.

Importantly for The Garden Residences is that the line will pass through Hougang and Ang Mo Kio which is the area that the project is located.

Cross island line

As to where exactly the station(s) between Ang Mo Kio and Hougang will be, is uncertain as of now.

What is known for sure is that in the vicinity of The Garden Residences is a train station that will benefit residents.

Cross island line between AMK and HG

The benefit commuters will get with the Cross Island Line is that it will provide a faster commute between East and West.

For instance, a commuter travelling from Ang Mo Kio can reach almost any part of Singapore using public transport within less than one hour, saving up to 30 to 40 minutes of travel time. Residents in Punggol will be able to travel directly to Pasir Ris – a popular travel route – in only 10 to 15 minutes, as compared to a 40-minute bus journey today.

The Punggol Digital District

The Punggol Digital District is located at the Eastern end of the North Coast Innovation Corridor.

Housing technology firms involved in key growth fields such as cyber-securty, the district will foster industry-academia collaboration.

Spillover effects for The Garden Residences from the Punggol Digital District is an increased traffic and human flow to and from the area.

Given the relatively central location of The Garden Residences between town and the Northern part of Singapore, it is likely that renters working in the Punggol Digital District may consider the area a likely dwelling area.

Punggol digital and the garden residences

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Micro-market environment

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

Demand

For investors, there is likely to be demand for a project in this area given that the project is in a relatively central part of Northern Singapore.

Not as far north as Punggol, and yet not as busy and hectic nearer the city, this area is quiet, exclusive and offers a good quality of life.

Unlike Kovan, Serangoon, Hougang or Ang Mo Kio, this part of Serangoon is near a landed residential enclave.

Even though there are HDB blocks opposite the development, there aren’t as many as compared to places like Hougang or Ang Mo Kio.

This makes for relatively exclusive and quiet living.

Some demand for renters may come from those working at the Australian International School, the industrial estates just North of the project and possibly even those working at Sengkang General Hospital and the Punggol Digital District.

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Supply

For those keeping an eye on future supply in the area that may impact prices and rents, there aren’t any land slated for sale by the government.

As a landlord, one should take note that the nearest project is the 310 unit Kensington Park Condominium.

This project is much older since it was completed in 1990. Potential renters who are considering to stay in the area would likely desire a newer project, for which The Garden Residences will be.

In the same vein, The Garden Residences will also be able to command a rental premium.

For buyers who would like to consider other new projects in the area, Parkwood Residences at Yio Chu Kang Road may be of interest.

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Rents and yields

There are a few projects in the immediate vicinity of The Garden Residences.

They are

  • Kensington Park Condominium
  • Serangoon ville
  • One Rosyth
  • Rosyth Ville
  • 3@Phillips

Based on Squarefoot data, these projects are generating rental yields of between 2.7% and 4.2%, which is relatively attractive given their location.

It can be expected that The Garden Residences will be able to command rental yields in the mid 3% range.

All the projects in the vicinity also registered capital gains based on last 3 years of transaction data, according to Squarefoot.

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Prices

Based on Squarefoot data, non-landed prices (new, sub and resale) rose to a S$1,148 psf in Mar 2018 compared to S$721 psf 10 years ago.

district 19 prices garden residences

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Land Prices

According to the Straits Times, the consortium of Keppel Land and Wing Tai Holdings bidded S$446.28m for the site, which translates into S$964.8 psf ppr.

This price is marginally higher than the land rate of S$835 psf ppr paid for the Serangoon Ville en bloc.

Oxley Holdings, Lian Beng, Apricot Capital and entities of KSH Holdings and Heeton Holdings bidded for Serangoon Ville.

Even though the land price is higher for The Garden Residences, the quality and brand name of developers arguably gives it an edge over the buyers of Serangoon Ville.

In this regard, the product quality, design and finishings will likely be superior.

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Interest rates

According to iCompareLoan, the 1 and 3 SIBOR rates have been relatively stable over the last 1 year.

1 month rates are at 1.307% as of writing, while 3 month rates are at 1.434%.

SIBOR the garden residences

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

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Site background

From the Straits Times

The public tender for a private residential site in Serangoon North Avenue 1 attracted 16 bids.

Corson and Wingjoy Investment – units of Keppel Land and Wing Tai Holdings – jointly placed the top bid of $446.28 million, the Urban Redevelopment Authority (URA) said on Thursday (July 27, 2017).

The price works out to about $964.8 per sq ft per plot ratio for the 99-year leasehold plot, which could yield 505 private homes.

The top bid was about 6.6 per cent higher than the second of $418.7 million tabled by FCL Residences.

Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million.

The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.

It was put up for sale under the confirmed list of the Government Land Sales programme for the first half of the year.

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Developer background

Keppel Land

Keppel Land, a subsidiary of Keppel Corporation, is recognised for its sterling portfolio of award-winning residential developments and investment-grade commercial properties, as well as high standards of corporate governance and transparency.

The Company is geographically diversified in Asia, with Singapore and China as its core markets, as well as Vietnam and Indonesia as its growth markets.

Keppel Land is Asia’s premier home developer, with a pipeline of more than 60,000 homes in Singapore and overseas.

The Company is also a leading prime office developer in Singapore, contributing to enhancing the city’s skyline with landmark developments such as Marina Bay Financial Centre, Ocean Financial Centre and One Raffles Quay.

Keppel Land is committed to grow its commercial portfolio in key Asian cities such as Shanghai, Beijing and Tianjin in China, Ho Chi Minh City in Vietnam, Jakarta in Indonesia, Yangon in Myanmar and Manila in the Philippines.

Wing Tai Holdings Limited

About Wing Tai Holdings Limited Wing Tai Holdings Limited is Singapore’s leading property developer and lifestyle company reputed for quality and design.

The principal activity of the company is that of an investment holding company, focused on key markets in Asia.

The Wing Tai Asia network of companies including Wing Tai Holdings Limited (Singapore), Wing Tai Malaysia Berhad (Malaysia), Wing Tai Properties Limited (Hong Kong), Wing Tai China Pte Ltd and their subsidiaries, have core businesses in property investment and development, fund management, lifestyle retail and hospitality management.

Source: Keppel Land press relese

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Other project information

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