Sixteen35 (1635) Residences is a new development in the heart of Geylang by Oxley Group. This area is in the city fringe and is minutes away from town and neighbourhoods such as Bugis, Lavender and City Hall.
Quick navigation for Sixteen35 (1635) Residences information
- Development information
- Unit mix
- Floor plans
- Showflat location
- Site plans
- Transport details
- Educational institutions
- Government masterplan
- Investment analysis
- Things foreign buyers should look out for
- 1635 Residences site history
- Developer background
- Contact us/register interest
Sixteen35 (1635) Residences development info
|Project name||Sixteen35 Residences|
|Address||16 Lorong 35 Geylang|
|Site area||12,000 sqft|
|Gross floor area||33,600 sqft|
|No of storeys||8|
|No of units||TBC|
|Tenure||99 year leasehold|
Sixteen35 (1635) Residences Unit mix
To be announced
Sixteen35 (1635) Residences Floor plans
Sixteen35 (1635) Residences is likely to comprise units of between 1 to 4 bedrooms with more smaller units to cater to renters.
Definite floor plan information will be released in due course.
Sixteen35 (1635) Residences Pricing
The finalized pricing for Sixteen35 (1635) Residences is not confirmed yet but based on comparable new launches in the area and district, sale prices are likely to be in the S$1,400 to S$1,700 psf range.
Sixteen35 (1635) Residences Showflat location
Sixteen35 (1635) Residence’s showflat location will be released soon. It will likely be in the vicinity of Geylang, Paya Lebar or Aljunied area.
Sixteen35 (1635) Residences Site plan
Sitting on a 2,219 sqm site, Sixteen35 (1635) Residences will have frontage to both Geylang Lorong 35 and 37. A short walk away is Sims Avenue and Geylang road with many food and beverage options.
Sixteen35 (1635) Residences Development amenities
As Sixteen35 (1635) Residences is a relatively small project, the amenities are likely to be communal such as a swimming pool and carpark at the basement level.
According to news reports, Sixteen35 (1635) Residences will house the Huang Shi Zong Hui Singapore (Huang Clan Association) premises on the 2nd and 3rd stories. Residents will live on he 4th to 8th storey.
Sixteen35 (1635) Residences Transport
Sixteen35 (1635) Residences is a short walk away from Paya Lebar and Aljunied MRT station.
For those who want to take the circle, orange line, the Dakota train station is slightly further away but within a 10 min walk.
Bus services in the vicinity of Sixteen35 (1635) Residences include 2, 13, 21, 26, 40, 51, 67, 137, 853 and NR7.
PIE Exit 11 is also nearby and a 5 min drive from Sixteen35 (1635) Residences.
Alternatively, Guillemard road leading to Nicoll Highway is a short drive away.
For motorists wishing to use the ECP, exit 11 and 13 are a 5 to 7 drive away.
Sixteen35 (1635) Residences Educational Institutions
There are numerous educational institutions around Sixteen35 (1635) Residences such as Geylang Methodist Primary and Secondary School, Chung Cheng High School (Main), Broadrick Secondary, Tanjong Katong Girls School, Kong Hwa School, Tanjong Katong Secondary School, Tanjong Katong Primary School, Macpherson Secondary School, James Cook University, Chatsworth International School East Campus and the Lifelong Learning Institute.
Sixteen35 (1635) Residences Healthcare
Near Sixteen35 (1635) Residences is an important healthcare institution the Geylang Polyclinic.
Sixteen35 (1635) Residences Shopping
There are numerous shopping amenities and facilities around Sixteen35 (1635) Residences and that includes the Singpost Centre, Paya Lebar Square, Paya Lebar Quarter which is expected to be completing by 2018/2019, City Plaza and One KM.
Geylang Serai which caters to the Malay community is also near Sixteen35 (1635) Residences.
Every year during Hari Raya, the place will become bustling with hipster youths and young adults wanting to try out the novel food and immerse themselves in the culture.
Sixteen35 (1635) Residences Entertainment
While some may say that Sixteen35 (1635) Residences is not in a good location due to it’s proximity to the controversial and seedy area of Geylang, the neighbourhood has changed its character over the past few years.
Regular police inspections and patrols around the area has cleaned and tidied up the area. Notorious underworld and gang triads are no longer commonplace.
In its place are eateries that open well into the evening. Many of these eateries sell comfort food such as porridge, egg tarts, durians that attract many people around Singapore to visit it over both weekdays and weekends.
While there still exists karaoke bars and massage parlors along Geylang road, these have largely been cleaned up over the years.
Sixteen35 (1635) Residences Fitness
Only a stone’s throw away from Sixteen35 (1635) Residences is the Singapore Sports Hub which houses the OCBC Arena, OCBC Aquatic Centre, Kallang Wave Mall with indoor rock climbing and the national stadium.
Just beside the sports hub and near Sixteen35 (1635) Residences also is the Leisure Park Kallang, Sports Hub library, Kallang Theatre, Indoor Stadium and sports museum.
Fitness buffs staying at Sixteen35 (1635) Residences will definitely look forward to jogging down to the Sports Hub to get their regular exercise fix.
Sixteen35 (1635) Residences Government masterplan
Sixteen35 (1635) Residences will benefit from the government’s Masterplan for Geylang and Marine Parade.
In the Masterplan, the government intends to create a better living through a better environment, increasing reasons for residents to be outdoors, improving the transport system so there are quicker ways to travel and to nurture a growth centre and create jobs.View Fullscreen
Sixteen35 (1635) Residences Investment analysis
Over the past 10 years in District 14 where Sixteen35 (1635) Residences is located, non-landed house prices have risen from S$704 psf in Feb 2010 to S$1,329 in Jan 2018.
This represents an eye popping increase of 89% over the 8 years! On an annualized basis, this represents an increase of 8.3%.
If rental income and leverage were to be taken into account, the returns to an investor would be in the double digit range and likely higher than 20%.
For an investor in Sixteen35 (1635) Residences, the historical guide could be taken as a guide and potential capital gains would be very attractive.
The following chart shows how non-landed prices have moved over the last 10 years.
Indeed as a testament to the investment potential for Sixteen35 (1635) Residences, other comparable properties in district 14 such as Eunos Mansion, The Arizon and Wing Fong Mansions have registered capital gains of more than 100%.
On the lower end there is Mera East and The Waterina but these still had gains of approximately 50%.
An investor in Sixteen35 (1635) Residences would want to take note of these historical precedents.
Sixteen35 (1635) Residences is also likely to have rental yields of more than 4% going by the comparables in the area.
The following table shows various comparable projects in district 14 and their rental yields.
|Project||Gross yield (%)|
|Wing Fong Court||4.2|
Even at the lower end of rental yields tracked by Squarefoot research, yields are at least 3.7% (Goodview Apartments).
One reason yields are so attractive in district 14 is the relatively proximity the area is to the city.
For investors in Sixteen35 (1635) Residences, it would be wise to keep an eye out for competitor buildings as they may provide more choice for potential renters.
In district 14 where Sixteen35 (1635) Residences is in, there are 3 uncompleted condomiuniums.
They are Tre Residences (TOP Dec 2019), Rezi 35 (TOP 2020) and The Navian (TOP Dec 2020).
The TOP date for Sixteen35 (1635) Residences is unconfirmed but is given a lead time of about 3 years for construction, the TOP could likely be in 2021.
Sixteen35 (1635) Residences Immediate Surrounding Analysis
Immediately around Sixteen35 (1635) Residences are a few projects that we can take reference from to see what type of investment returns can be achieved.
Carmi Mansions was built in 1992 and has a rental yield of 3%
Chen Fang Mansions was built in 1997 and has a rental yield of 3.8%
Regal 35 was built in 2005 and has a rental yield of 3.3%
En Fu Mansions was built in 1995 and has a rental yield of 3.7%.
All the projects are freehold in nature.
The above suggests that Sixteen35 (1635) Residences would most likely achieve a yield in the 3.5% range.
Sixteen35 (1635) Residences Things foreign buyers should look out for
Foreign buyers are able to buy Sixteen35 (1635) Residences and they are not subject to any additional restrictions that are not already in place.
For more information on stamp duties, taxes, loan restrictions, do contact us and we can link you up with a professional.
Taxes for investors in Sixteen35 (1635) Residences
Investors in Sixteen35 (1635) Residences can buy units under a special purpose corporate vehicle but they will be subject to the additional conveyancing duty.
Sixteen35 (1635) Residences purchase detail
The following article extracted from Straits Times gives a good background on 1635 Residences.
Oxley acquires clan property in Geylang
Geylang’s red-light reputation has not stopped it from turning into a red-letter day for some property owners.
Property developer Oxley Holdings said its wholly owned subsidiary, Oxley Pearl, agreed yesterday to buy a property in Geylang for $13 million from Huang Shi Zong Hui Singapore (Huang Clan Association) under a 99-year lease.
It is acquiring the property at 16 Lorong 35 Geylang with the intention of turning it into an eight-storey mixed-use development, which it will name Sixteen35 Residences.
The plot, which currently houses the clan association’s headquarters, has an area of about 2,219.6 sq m and is zoned for residential/institution use under the Urban Redevelopment Authority’s (URA) 2014 Master Plan.
Sixteen35 Residences will house the clan association’s new premises on the second and third storeys, and residential flats from the fourth to eighth storeys, Oxley said in a filing with the Singapore Exchange.
The development will also have communal facilities, a swimming pool, and a carpark at its basement level, Oxley added. Upon completion, Oxley will transfer the clan association’s units to its trustees to be held in trust for the association as a beneficial owner.
The mixed-use development is expected to be completed within 40 months from the handover date of the plot by the clan association.
Separately, a site with a 60m frontage along Lorong 18 Geylang, near its intersection with Geylang Road, is up for sale by tender. The property is offered for sale based on a 99-year leasehold tenure.
It has a total site area of about 1,696.3 sq m and is located within an area that was rezoned in 2015 from “residential/institution” use to “commercial/institution” use under the URA Master Plan 2014.
At a gross plot ratio of 2.8, it can be redeveloped into an eight-storey development with a maximum allowable gross floor area of 4,749.6 sq m.
The property is held under single ownership. “A development site of this size is rarely available as ownership of land plots in the Geylang area is mostly fragmented,” said Ms Swee Shou Fern, senior director of investment advisory at Edmund Tie & Company (SEA), which is marketing the site.
The asking price for the property is $36 million, which reflects a land rate of $948 per square foot per plot ratio (ppr) for commercial use, or $704 ppr for institution use.
To redevelop the site for commercial use at a plot ratio of 2.8, an estimated development charge of $12.5 million is payable, said Edmund Tie in a statement. If the site is developed for institution use, no development charge is payable.
The tender closes on March 22.
Source: Straits Times
Sixteen35 (1635) Residences Developer background
Oxley Holdings Limited (“Oxley” or “the Group”) is a home-grown Singaporean property developer. Oxley is principally engaged in the business of property development and property investment.
Since its inception, the Group’s accelerated growth has resulted in a burgeoning presence both locally and overseas.
It now has a presence across twelve geographical markets.
The Group has a diversified portfolio comprising development and investment projects in Singapore, the United Kingdom, Ireland, Cyprus, Cambodia, Malaysia, Indonesia, China, Myanmar, Australia, Japan and Vietnam.
Oxley’s expertise does not lie solely in property development; the Group also renders project management and consultancy expertise in Myanmar.
Oxley’s property development portfolio encompasses choice residential, commercial and industrial projects. Key elements of the Group’s choice developments include prime locations, desirable lifestyle features and preferred designs.
With a keen grasp of market sentiments and trends, Oxley has achieved remarkable growth since its inception. As part of its strategic expansion, the Group has also entered into partnerships with reputable local and overseas developers as well as business partners.
In 2013, the Group acquired a 20% stake in Galliard (Group) Limited, a leading property developer in the United Kingdom. Galliard (Group) is a property development, hospitality and management group overseeing a wide variety of developments across London and Southern England.
Since then, Oxley has also acquired a 40% stake in Pindan Group Pty Ltd, an integrated project group based in Western Australia, and an 15% stake in United Engineers, a Singaporean property development and engineering company that was founded in 1912.