Formerly known as Makeway View on Makeway Avenue, it is now called The Atelier. Bukit Sembawang Estates Limited has successfully acquired The Atelier through a $ 168 million en bloc sale. The en bloc sale purchase price is also the asking price for the en bloc sale of the property for which the property was offered.
As the company that brokered the sale pointed out, the sale price of the Atelier reflects the land price of 1,626 psf ppr. This includes development costs of $ 21.26 million. From the proceeds from the sale of The Atelier, owners of 28 apartments and four penthouses in a 10-story building are expected to receive $ 3.86 to $ 10.74 million per unit. The Atelier is located in District 9, developed in the late 1980s, occupies an area of 41,582 square feet, and has a qualified GFA of 2.8.
Bukit Sembawang plans to develop this site into a residential apartment with standard facilities. Approved by their respective authorities, the land can develop into 154 21-22 story condominiums with an average size of 70 square meters.
According to Swee Shou Fern, Senior Investment Adviser of Swee Shou Fern, this upcoming property will allow residents to enjoy spectacular 180-degree views of the city and its beautiful greenery without distraction. The Atelier developers plan to use their resources and bank loans to fund the redevelopment of the site.
The Atelier Condo is close to primary schools such as St. Joseph’s Institute Junior, Anglo-Chinese School (Barker Road), and Anglo Chinese School (Junior). The property is within walking distance (400 meters) from MRT Newton Station. Just a 5-minute drive from Newton Food Center, United Square, Novena Square, and the famous Orchard Road shopping area, the site offers unlimited shopping and dining.
Benefits of Living in Atelier
If you are looking forward to buying a home or investing in real estate, you will be pleased that Newton District 09 offers you a great opportunity. District 09 is a vibrant residential area ideally located for residents to access other parts of Singapore. Newton is close to the important Orchard Road so that you can expect endless shops in the area. In addition, the site has north-south and Downton MRT lines. This means that future residents of the Atelier will enjoy a simple daily commute to work or school.
There are many services and facilities nearby that can benefit the residents of the Atelier. Within walking distance of the Atelier, many schools provide an excellent education for children. This is why this part of Singapore is so popular with families, couples, and professionals. Here are the following reasons why you might want to make District 09 your next home.
Strategic real estate location
Newton borders Tanglin to the west, Rohor to the East, Novena to the north, and Orchard to the south. The strategic location of District 09, with resident access to anywhere in Singapore, has become a popular destination for Singaporeans and foreigners. Make The Atelier your home and enjoy the convenience of being close to Singapore’s premier lifestyle and shopping center, Orchard Road.
In addition, District 09 has many facilities to accommodate residents within walking distance of their homes. For example, some schools offer many options when choosing the right school for your child. The availability of schools and excellent transportation make the area an excellent place for families.
Almost everything you can think of is within reach of the Atelier. That’s why District 09 is an excellent place for those who have many years of convenience. Transportation has improved, and you can’t expect connectivity issues that make it easy to reach destinations such as famous clubs, restaurants, and even hospitals nearby in minutes.
Excellent connectivity
In terms of connectivity, this region of Singapore offers maximum convenience thanks to its excellent transportation network. The Newton MRT is conveniently located about a 5-minute walk, making transportation easy for future residents of The Atelier Condo. The proximity to other MRT stations such as MRT Little India Station and MRT Novena Station makes it easy to commute to the area.
Several major roads and highways connect the area, including the Pan Island Expressway (PIE Central Expressway (CTE)), Orchard Road, and MRT Station. In addition, District 09 offers several bus services that make it easy to get around Singapore’s neighborhood and other areas. This makes District 09 suitable for both private car owners and residents who rely on public transport. The excellent connectivity provides atelier residents easy access to work, schools, hospitals, and other exciting areas. This allows you to take your child to school on the way to work in the morning, as the desperate slowdown on the road is unpredictable.
Nearby Schools
Many good schools are near The Atelier Condo. They include public schools, kindergartens, international and elementary and junior high schools. This means that future residents of the Atelier will have many options regarding education. Some of the schools near the Atelier are:
- Anglo Chinese School
- Farrer Park Primary School
- Chatsworth International School
- Joseph’s Institution
- Raffles Girls’ School
Parents living in the Atelier do not need to keep their children away from home, as there are several reputable schools. Also, since most schools are in the immediate vicinity, their proximity saves you a lot of time.
Nearby Shopping Malls
District 09 has many shops that offer all the services that residents may need. In addition to a shopping mall easily accessible from the Atelier and Orchard Road, shoppers’ paradise is just a few minute’s drives away. With almost everything you need at hand, you may not need to travel long distances to shop, which can save you a lot of time in the long run.
Just above the Novena MRT, Velocity @ Novena Square is one of the best shopping malls in the region. The sports-oriented mall has a large gym, a health and lifestyle grocery store, and various sports and small boutiques. Another shopping mall is conveniently located on Square 2. There are up to 5 floors, including specialized Korean-themed floors, and over 200 stores, including beauty, food, furniture, and fashion stores.
United Square Mall on 101 Thomson Road is the third-largest shopping mall in the area. It is famous for its children’s specialty and outlets. It has toy stores, learning centers, educational bookstores, and many other children’s features. However, this mall is not exclusively for children as parents can also shop here. You can find adult boutiques and refrigerated warehouses.
Nearby Restaurants
If you’re looking for a residential area with endless ways to complement a healthy lifestyle, District 09 will be intriguing. There are many health food stores and restaurants in the area that offer a variety of food options. There are several restaurants in the nearby mall, so all your lunch worries can be dealt with well. You can get different dishes at different prices nearby. Some of the restaurants that are easily accessible from the Atelier are located along Thomson Road and Newton Road.
The area is also home to the famous Newton Food Center, 5 minutes from Atelier and directly opposite The Atelier Condo. For those unfamiliar with this place, it was the first large hawker center to open in 1971. The building represented colonial architecture and was designed with more than 50 floral decorations that reflect plantations. Open 24 hours a day, and this place is one of the best places to go for a late-night party or dinner while enjoying delicious food such as Sambal Stingray.
Another excellent dining area near Thomson Road is Novena Villa and Novena Garden. The restaurant here emphasizes Asian cuisine and is surrounded by a beautiful dining environment with Chinese, Indian, Hong Kong, and Korean cuisine. You rarely miss your favorite food here, and their customer service is top-notch.
Nearby Medical Facilities
As for medical facilities, the Newton area is well maintained. You can expect to get some of the best medical and health services that remain unmatched at the hospitals here. The hospital is also conveniently located for easy access by residents.
KK Women’s and Children’s Hospital is one of these hospitals. The hospital is equipped with first-class facilities and has qualified professionals ready to listen to your medical concerns. The integrity of the services provided by this hospital is impressive in giving care to residents with a variety of medical problems.
Mount Elizabeth Hospital and Tan Tock Seng Hospital are other hospitals that are easily accessible from The Atelier Singapore show flat. In addition, there are specialists with many other clinics in the area.
Why Real Estate in the Centra Region is a Better Investment for Ateliers
House prices have fallen in recent years. However, the prices of properties located in various regions are currently on the rise. In particular, since 2017, properties in the Central area increased by 0.1% at the beginning of the third quarter, according to the URA Private Housing Index. So, is it the right time to invest in JRC real estate?
A limited supply of land
The land is limited throughout Singapore. If you can purchase a property in the central part of the central region, you can expect future price increases. This is because the limited land supply contributes to high offers that may affect future prices and capital gains.
Resistant to oversupply
Properties in all areas are vacant, but the number of empty rooms in the JRC area does not contribute to the total vacancy rate of private housing of 6.8%. A significant contributor to this is the oversupply of housing units. Last year alone, more than 26,000 new non-landing private lands were added to the market. It could be even higher this year. According to URA, rental income from properties in the Central Core Region decreased by 3.8%. Real estate revenues in OCR and RCR are down 5.6%, much higher. Because that’s what it is? CCR properties are strategically placed.
Due to its location, demand remains high, so there is no threat from new units being added to the market.
Strong trading around CCR
According to URA, 729 CCR homes were sold in the first quarter of 2017, 1171 in the second quarter, and 1,470 in the third quarter. These sales show an increase from the 619 units sold in the fourth quarter of 2016. Home sales above $ 5 million have increased since 2014, as List Sotheby’s International Realty reported. The increase in sales is due to the growing popularity of Singaporeans and Chinese, Malaysian, and Indonesian people.
How the URA Master Plan will change the interests of Newton and atelier residents
The URA Master Plan is a statutory plan that guides how land will be used in parts of Singapore over the next few years. The plan is reviewed every five years. It is underpinned by the vision of developing a comfortable, environmentally friendly, and economically vibrant living space for Singaporeans.
Newton is a planning area aimed at benefiting from the Master Plan. Although located near the CBD, there are plans to improve housing quality, improve accessibility and optimize land use in the area. The government has released several GLS near The Atelier named Kopar at Newton Kampong Java. The Atelier Showflat is right next to the exact unit.
There are several benefits that Newton residents can benefit from the transformations made in the area is courtesy of the URA Master Plan. Here are some of them:
A new way of life
The URA plan introduces a new lifestyle to the Newton area. The house is now designed to easily access mountain ponds, parks, and the sea with spectacular views. In addition, there are family-friendly developments aimed at improving the standard of living in the community. People-centered facilities in residential areas also stimulate community life in the area.
Housing units increase
Residents of District 9 are already enjoying a large number of wide-ranging residential units. This allows them to choose the unit they have chosen. Continued development of both private and public housing ensures that resident choices are not restricted.
Boosting the economy
With the implementation of the URA program, the Newton region continues to grow with new shopping malls that introduce new employment opportunities for residents. Economic opportunities will continue to improve as existing and commercial malls still attract people with retail, business, and entertainment opportunities. In addition, both multinationals and locals will benefit significantly from improved transportation in the neighborhood.
Improved connectivity
Residents of Newton can expect short-term regular trips as roads and public transport have been significantly improved according to URA’s plans. With excellent connectivity, residents have easy access to nearby services and facilities to enhance their quality of life.
It is also important to identify the loan to value for your scenario as MAS has strict regulations on home loans. For more information regards to financing or stamp duties, please fill up the contact form and we will be glad to assist.
Stamp Duties may be different for different purchasers. You may explore more from the Stamp Duty information here. Buyers may also Book an appointment to view the The Atelier Showflat to find out more.
Interested parties of The Atelier Condo can find more project details in this site. The site plan and floor plans will be out soon and updated here. The elevation chart depicts the distribution of units in the development and the balance unit chart will updated regularly upon launch of the project. Please check back on this site to be kept posted.
