Hong Leong Holdings is one of the pioneers of the real estate and property development scene in Singapore. With over 50 completed residential projects under their belt, HLHL has forged a reputation for developing distinctive and iconic mid to high end residences that have become some of the best received and loved on the island.
Convenience and luxury without compromise are the key factors that make Bartley Ridge stand out. Like its location, this high quality condominium does not rely on flashy gimmicks, but is a solid, all round good property, that will make for not only a delightful home, but also a decent investment as well.
The area is tipped to be one of the growth areas in the next 5 to 10 years due to nearby development and investment, as well as its existing highly regarded amenities and superb transport links.
Source: Developer’s Brochure
Project Name : Bartley Ridge
Address : 30 – 46 Mt Vernon Road
Type : Condominium
Site area : 224,006 sqft
Tenure : 99 year leasehold
District : 13
Configuration : 868 units
Unit types :
189 x 1 bedroom units (441 – 635 sqft)
134 X 2 bedroom units (721 – 764 sqft)
138 X 2 bedroom + study units (829 – 990 sqft)
322 X 3 bedroom units (1,033 – 1,259 sqft)
34 X 4 bedroom units (1,302 – 1,464 sqft)
51 X 4 Bedroom Dual Key units (1,550 – 1,658 sqft)
Expected legal completion : 3Q2016
Bartley Ridge consists of eight 17-storey and one 18-storey blocks that are orientated to not only minimise road noise, but also to avoid the western sun. The designs have been made with an eye on space saving – the apartments do not have features such as bay windows or shelters. Every square foot is considered and used. The result is that even the smallest one bedroom units have enough space where it is needed.
The designers have also included a lot of flexibility into the floor plans, meaning there are many different options for all sizes, giving as much choice as possible. For example, the three bed units come in standard; three plus a yard and three plus a study versions.
Sales have been very strong, over 200 went on the day it was launched, and at the time of writing (Apr 2016) almost 96% of units have been sold, with many unit types having sold out.
The development has all the features that you would expect from a modern high quality condominium including:
Sports and Fitness
Water Sports
For the Little Ones
Dining and Entertaining
For Unwinding
For the Garden Lovers
Specifications:
Doors
where applicable
PES – where applicable
where applicable
Sanitary Fittings
Additional Items
Unfortunately, at time of writing, the show units for Bartley Ridge are no longer available. However, there are artist’s impressions of the interiors.
Source: bartleyridge.com.sg
Cabinets with solid surface countertops and a sink with mixer are provided with the kitchen. Appliances provided include a built-in oven, gas cooker and hood and refrigerator all from Electrolux.
Source: bartleyridge.com.sg
Source: bartleyridge.com.sg
In most units, the living space is just outside the kitchen, and extends to the balcony. The area is wide enough to allow for segregation of the dining area and living room.
Source: bartleyridge.com.sg
The common bedrooms are generally large enough to accommodate a queen-sized bed comfortably. As for the master bedrooms, a king-sized bed could fit in them with additional maneuvering space.
Source: bartleyridge.com.sg
The bathrooms are decent-sized and fittings are from Hansgrohe.
The location is described as on the fringe of the city, and that sums up this area perfectly. It is on the fringe of many different prime locations, while keeping itself to itself. That is not meant to be derogatory in the least, far from it. The condo will benefit from everything that is going on around it – and there is plenty – without these developments having a negative impact on it. Walking around the neighbourhood, you very much get a sense of a mature, self-assured, self-confident area.
This is a community that is the embodiment of Singapore – it is proud of its past, but is looking forward to the future, taking the changes in its stride. And there are big changes set for this area – not in the immediate vicinity, but close enough that they will have a positive impact. The ground-breaking Bidadari HDB complex is only a short distance away, and that will bring with it the amenities that always accompany such developments in the form of eateries, convenience stores etc. It is also on the edge of the proposed Paya Lebar Growth Area which will bring even more commercial, retail, and F&B outlets to the neighbourhood.
Source: Developer’s Brochure [click here for full version]
Despite all these amenities, there is the feeling of space around the development. Areas of greenery abound, giving the impression of being a lot further from the heart of the city than you actually are.
Getting there and away:
It is hard to imagine a condo with better transport links.
It is practically sat on top of Bartley MRT station on the circle line, meaning residents can go from their apartment to Orchard Road, Marina Bay or the CBD in 25 minutes or less. The apartments are also served by several bus routes, one stop being right outside the development. There is a bus interchange at Serangoon MRT one stop away, and many more routes stopping outside Tai Seng MRT, only a short stroll away.
Car owners are spoilt for choice with the nearby CTE, KPE, PIE and recently opened Bartley-Tampines Viaduct giving easy and quick access to all parts of the island.
The Area:
A ten minute walk – or one stop on the MRT is NEX, a popular mall with all the retail, dining and services you would expect. There is also a cinema and pet safari, so there is no need for any members of the family to miss out. In the other direction, there are a plethora of good, local shops, cafes, restaurants and food courts along Upper Paya Lebar Road.
The same goes for the busy Macpherson Road just a little further along, which also features the picturesque and relaxing Aljunied Park. For finer dining, Marina Bay and Orchard are a short drive or MRT ride away.
Another huge positive for this location are the sheer number – and quality – of schools. As well as the Maris Stella High School which is regularly voted one of the best in Singapore, there is also Bartley Secondary, Paya Lebar Methodist Girls, St Gabriel’s and many others – from primary to tertiary all within walking distance or a very short drive away.
At the time of writing, the number of caveated transactions for this property totals 831. Recorded prices range from $576K to $2.27M. Over 65% of these have been at $1M or above (see Chart 1).
Source: PropertyGuru, URA
Source: URA
Botanique @ Bartley is the project’s stiffest competition when it comes to initial purchase. Botanique – located opposite Bartley Ridge on the other side of Bartley Road will not be complete until probably a year after the first residents move into Bartley Ridge. So far, Botanique has achieved 614 caveated transactions, with an overall median price of $1,291 psf. This is against $1,247 psf for Bartley Ridge. Let’s focus on the 1 and 3 bed units for a better comparison. The median caveated prices for Botanique are:
1 BR: $1,319 psf
3 BR: $1,276 psf
Compared to those for Bartley Ridge (using the figures for the standard 3 bed):
1 BR: $1,378 psf
3 BR: $1,210 psf
This shows us that with the 1 bed units, Bartley Ridge is currently selling for almost 4.5% higher psf, but this switches for the 3 bed units where it is the Botanique which is selling at almost 5.5% higher psf. Even taking into account the units with a yard at Bartley Ridge, the difference is still above 5% psf.
The transacted prices however make for slightly different reading:
Bartley Ridge:
1 BR: $576K to $757K
3 BR: $1.05M to $1.62M
And for Botanique:
1 BR: 596K to $695K
3 BR: $1.005M to $1.272K
This is because the apartments at Bartley Ridge – particularly at the higher end, are larger than their equivalent at the Botanique.
Future Rental Potential
To get an understanding of what rental prices are likely to be for Bartley Ridge, we need to take a look at rental prices for other projects in the area.
Based on data for the last 4 quarters, the current median rental price for projects in Upper Paya Lebar Road is $3.5 psf per month (at the time of writing). At these rates, a basic 1 bedroom 441 sqft unit would go for approximately $1,850 a month if we factor in a 20% new build premium. Taking the median price for this as $608,000, the annual gross rental yield would be in the region of 3.65%
Switching to a 1,259 sqft 3 bedroom unit, the monthly rent will likely be just shy of $5,300, with an annual gross rental yield of 3.9%
Bartley Ridge ticks all the boxes when it comes to a reasonably priced, modern condominium in an up and coming area of the island. Some people may be put off by its proximity to a busy road, or due to the fact it is not seen as a particularly fashionable area, but the development itself, plus the current and proposed services and amenities in both the immediate and surrounding area means it easily rises above these concerns.
With massive investment in the region, second to none transport links and an existing infrastructure and community, it has a lot more to offer than more celebrated – and pricey developments and districts. One thing this has got in its favour over similar nearby properties is that it falls into District 13, whereas they are just across the border in District 19.
If you are looking for an investment, or a place to settle down that offers all mod-cons and access to both green spaces as well as the where the action is, there aren’t many better options available.
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