Penrose (Sims Drive New Condo) is a highly-anticipated upcoming condo just 400m from Aljunied MRT.
Due to its convenient location and elegant décor, Penrose promises to be one of the most sought after condos to be launched in 2020.
As part of the Geylang planning area, residents of Penrose will be treated to a variety of local hawker delights, modern shopping experiences and ease of travel.
With major expressways PIE and KPE just a short drive away, and Aljunied MRT within walking distance, residents will enjoy fast travel to all parts of Singapore by both public and private transport.
Penrose is located at the city fringe area. It is very close to town and CBD, while still far enough for residents to escape the hustle and bustle of the city. Truly the best of both worlds!
For families with children, quality schooling options are readily available.
Penrose (Sims Drive New Condo) is close to reputable schools such as Geylang Methodist School, Geylang Methodist Secondary School, Macpherson Primary School, Canossa Convent Primary School, Kong Hwa School, Bendemeer Primary School, Cedar Primary School and Nexus International School.
As for shopping, nearby malls include Onekm mall, Paya Lebar Square and Paya Lebar Quarter. Major entertainment areas like City Hall (Raffles City, Suntec City) and Orchard Road (Plaza Singapura, Far East Plaza, Ngee Ann City) are easily accessible via bus/train and car.
Residents of Penrose can enjoy a widespread selection of affordable and delicious hawker food at Geylang. Posh restaurants and chill-out cafes are available at Paya Lebar Quarter and Onekm mall.
Besides the amenities in store, Penrose also promises to be a good investment that can provide high gains in future.
URA recently released a masterplan detailing steps to redevelop the nearby Paya Lebar area into one of Singapore’s business, tourism and industrial hubs.
Coupled with its strategic location close to town, purchasing a Penrose unit promises to be a worthwhile investment that can reap good returns in terms of rental income and capital appreciation.
|Condo name||Penrose (Sims Drive New Condo)|
|Developer||Hong Leong & CDL|
|Location||Sims Drive, Aljunied, Singapore|
|Site area||1.7 ha|
|Gross plot ratio||3.0|
Selling points of Sims Villa
- 400 m to Aljunied MRT station
- 3 malls nearby at Paya Lebar interchange
- Renowned developer Hong Leong and CDL
- 5-10 mins to Kallang Sports Hub
- Nearby schools such as Geylang Methodist Primary, Canossa Convent Primary among others
- 4 MRT stops to City Hall station
Penrose (Sims Drive New Condo) is located at the city fringe area. Offering fast and easy access to town and CBD, residents can also look forward to a tranquil and serene living environment away from the bright city lights.
Just 400m away from Aljunied MRT, with major expressways PIE and KPE close by, travelling to all parts of Singapore will be a breeze.
Penrose (Sims Drive New Condo) residents with children will have plenty of schooling options.
Schools in the neighborhood include Geylang Methodist School, Geylang Methodist Secondary School, Macpherson Primary School, Canossa Convent Primary School, Kong Hwa School, Bendemeer Primary School, Cedar Primary School and Nexus International School.
Weekend shopping and family time will also be a world of fun!
Nearby malls include Onekm mall, Paya Lebar Square and Paya Lebar Quarter. Major entertainment areas like City Hall (Raffles City, Suntec City) and Orchard Road (Plaza Singapure, Far East Plaza, Ngee Ann City) are easily accessible via bus/train and car.
Residents who prefer outdoor activities can head over to East Coast Park, a short 5-10 minute drive away.
As for food, there are lots of local hawker selections at Geylang. Posh restaurants and chill-out cafes are available at Paya Lebar Quarter and Onekm mall.
Penrose floor plans
Floor and site plans will be released shortly
Pricing is anticipated to be in the range of S$1500-1600, but this is highly dependent on the developer’s pricing strategy.
It is an estimate and actual could be different on launch day.
Capital gain comparison
Note that freehold projects are not always ideal. Observe that the projects with capital losses are all freehold projects.
Properties in District 14 (where Penrose is located) are making a steady recovery after last year’s cooling measures were imposed.
Due to factors like its strategic location and the government masterplan to enhance living standards, many buyers are keen to invest in a unit at one of Singapore’s prime residential areas.
Sales transactions are on the rise. The supply-demand ratio naturally dictates that prices are going up as well.
Does this mean that District 14 properties are not worth buying?
On the contrary, we believe that properties at this high-in-demand area can be an extremely value-for-money purchase.
By studying present/future trends and capital gains enjoyed by surrounding properties, it’s safe to conclude that prices will increase even more in the years to come.
Which means that buying a Penrose unit during its 2020 launch can be a very profitable investment down the road.
Based on asking rents of Sims Urban Oasis, the condo beside Penrose, potential rental rates in the condo are as follows
Studio: 1600 to 2000 per month
1 BR: 1800 to 2600 per month
2 BR: 2800 to 4000 per month
3 BR: 4000 to 4900 per month
Annual income for investors would therefore be between $19,200 to $58,800 in gross terms.
Traditionally, city fringe properties, like those in District 14, enjoy a consistent demand from potential tenants.
They are popular among both local and foreign tenants looking for units close to their workplaces in CBD, without paying high rental fees for properties in town.
As District 14 begins to transform into one of Singapore’s leading business and industrial hubs, more jobs will be created.
This will lead to even higher rental demand from employees in the area.
A quick glance at the rental yield table above will show that District 14 properties today are providing healthy rental income for landlords.
Should you choose to rent out a unit at Penrose, you stand to enjoy even higher rental yield, as District 14 properties are likely to increase in value and demand over time.