The Reef at King’s Dock is a 429-unit, 99-year leasehold luxury condominium development by Mapletree and Keppel Land in District 4. The condo is located along Keppel Bay and features waterfront living and scenic sea views.
A modern, stylish freehold development situated in a green, natural and peaceful location. Hills TwoOne offers buyers a chance to enjoy some of Singapore’s most spectacular and relaxing scenery right on their doorstep while still benefiting from extensive MRT, road and bus connectivity.
Project Name: Hills TwoOne
Address: 21 Hillview Terrace
Site area: 28,175 sqft
Configuration: 71 units
Unit types:16 x 2 bedroom units (560 – 581 sqft)
5 X 2 bedroom + study units (592 – 1055 sqft)
6 X 2 bedroom + loft units (560 – 592 sqft)
30 X 3 bedroom units (710 – 926 sqft)
7 X 3 bedroom + loft units (710 – 926 sqft)
6 X 3 Bedroom + study units (947 sqft)
1 x 3 Bedroom + study + loft (947 sqft)
T.O.P. Date: 31st December 2019
Hills TwoOne consists of a single 6-storey block containing just 71 units that range from 2 bedroom apartments up to 3 bedroom penthouses. Despite the small number of units, there is no shortage of flexibility, with study and loft options available for both sizes.
The loft units, which are all located on the second floor, have ultra-high ceilings – 4.2m as opposed to the standard 2.8m, giving a definite feeling of space. An additional feature is that all 3 bedroom units come with a dual key option as standard giving that extra layer of flexibility. Unsurprisingly, sales have been strong, and at the time of writing (July 2016) 61 of the 71 units have been sold.
An additional feature is that all 3 bedroom units come with a dual key option as standard giving that extra layer of flexibility. Unsurprisingly, sales have been strong, and at the time of writing (July 2016) 61 of the 71 units have been sold.
The development has all the amenities and features that you would expect from a modern high quality condominium including:
- Swimming Pool – 23m x 4m as well as a children’s shallow pool
- Wide Pool Deck
- Yoga Area
- Shower Area
- Roof level BBQ, Dining and Entertaining Area
- Designer Doors
- StarHub Cable Vision ready to be received in all units
- Daikin Air Conditioning
- Kitchen Cabinets
- Bosch Electric Cooker, Hob and Hood
- Grohe Taps
- Duravit Sanitary Wares
Walking around the area you get a real sense that nature is the dominant factor here. In many areas of Singapore, the environment has been created around the buildings and developments. They may look stunning, and they are certainly green, but there is more often than not the hint of it all being a little artificial. This is definitely not the case here.
The developments are a feature and no more, they do not – and should not, take any of the attention away from their gorgeous surroundings, which are everywhere, and anywhere you look.
That said, this being Singapore, there are also all the amenities you would expect from a modern neighbourhood. Within a short drive, a couple of MRT or bus stops or even a relaxed stroll away are a variety of food and beverage options, retail outlets and both local and international schools. This gives the location an almost unique advantage of appearing to exist in almost splendid isolation, while enjoying the convenience and luxuries of 21st century living.
Getting there and away:
The development is well served by both MRT and bus routes, and has a prime location with regards to expressways.
Hills TwoOne is located equidistant between Bukit Batok and Bukit Gombak stations on the North South Line (both less than 1km away), and Hillview on the Downtown Line. Both these offer quick and ready access to the Circle and East-West lines, as well as the forthcoming Thomson-East Coast Line. There are also bus stops within 100 metres of the entrance to the development.
For those preferring their own four wheels, Hills TwoOne is sat nicely inside a triangle made up of the PIE, KJE and the BKE, with the AYE only a little further away.
Surrounded by such natural beauty, many residents will be keen to explore the area under their own steam, and this is easy and safe with a network of park connectors passing only a stone’s throw away from your front door.
Though there aren’t any eateries or shops in the immediate vicinity – and in a way that is the beauty of this place – there are plenty of choices literally down the road. HillV2 and West Mall are less than a kilometre away, while Rail Mall and Beauty World are only a little further from the condo.
All these have a wide selection of retail outlets as well as a varied choice of cafes, bakeries and higher end restaurants. Supermarket wise, there are two Giants and a Fair Price very close by, and a Cold Storage located at Rail Mall.
There are also a good number of schools in the area, with both Primary and Secondary schools in easy walking distance, with several more only a very short drive or bus ride away, while the Bukit Gombak Stadium and Sorts Complex are both a very easy walk away.
The main attraction of this development, however, is not the manmade elements, and it is impossible to ignore the surrounding countryside. The majestic Bukit Batok Nature Park and Bukit Timah Nature Reserve make for a perfect backdrop, while the no less picturesque but nowhere near as celebrated Little Guilin in the Bukit Batok Town Park is a perfect place to relax.
In a matter of yards from your living room, you can really get a sense that you are in the middle of a spectacular wilderness, not in one of the most densely populated islands in the world.
At the time of writing (July 2016), there has been a total of 61 caveated transactions for this property. Recorded prices range from $967K to $1.793M, with all but 2 transactions being below $1.5M.
When it comes to the initial purchase, Hills TwoOne’s stiffest competition is Laurel Tree, being built on just the other side of the road. To date, 66 of the available 70 units have achieved caveated transactions at Laurel Tree, with an overall median price of $1,298 psf. This compares to that of $1,360 for Hills TwoOne. These figures are slightly skewed however as Laurel Tree only offers 2 bedroom units, so let’s concentrate on those for a more realistic picture.
The median caveated prices for Laurel Tree are:
2 Bedroom: $1,303 psf
2 Bedroom Penthouse: $904 psf
Compared to those for Hills Two One:
2 Bedroom (including all options): $1,371 psf
2 Bedroom Penthouse: $1,194 psf
This shows us that with the 22-bedunits, Hills TwoOne is currently selling at 5.2 % higher psf, and this is even more dramatic when it comes to the Penthouse options, where they are selling for more than a third higher.
Future Rental Potential
To get an understanding of what rental prices are likely to be for Hills TwoOne, we need to take a look at rental prices for the area as a whole. Based on data for the last 4 quarters, the current median rental price for units in District 23 is $2.42 psf (at the time of writing, July ‘16).
At these rates, a 2 bedroom + loft unit with 592 sqft would go for approximately $1,720 a month if we factor in a 20% new build premium. Taking the median price for this as $811,500, the annual gross rental yield would be in the region of 2.54%
Switching to a 926 sqft 3 bedroom unit with a loft, the monthly rent will likely be just shy of $2,700, with an annual gross rental yield very slightly higher at 2.55% (assuming the median price is $1,266,000).
The flexibility offered with dual keys being available on all the 3 bed units also has to be taken into account, as this certainly helps to maximise rental return on the property.
Finally, this is one of a dwindling number of freehold properties coming to the market, giving it a significant long term advantage not just as a home, but also as an investment opportunity.
Hills TwoOne is the definition of a compact, smart, modern Singapore condo. Its small size – just 71 units, means that it enjoys the intimacy that can occasionally be lost in larger developments, while it still has all the associated benefits when it comes to facilities.
The area is definitely one of the most picturesque on the island, but once again, you don’t have to compromise natural beauty and serenity for lack of retail and dining choices – this is Singapore after all.
Its competitive price is a reflection of its location in District 23, though, in reality, it is almost in District 21, where the prices are considerably higher. The price, layout and design, are aimed squarely at HDB upgraders, and young couples starting out on the property ladder. It is also ideal for those with dreams of living in a duplex penthouse, but don’t normally have a bank balance that gives them that option.
Properties in that area sell quickly, and it is easy to see why. It feels a little different, offers you everything that significantly higher priced locations can, and the view out of your window is definitely something that money cannot usually buy.
Macly RL Pte Ltd are a Singapore-based developer with an enviable track record of developing high quality but affordable properties throughout the island. They were at the forefront of the “shoebox” apartments trend and since then have incorporated that philosophy into larger, more traditional developments. They also have a record for developing properties in less well known areas of Singapore, creating a demand and a buzz that other developers have been happy to follow.