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.
Finding the right property nearly always means a series of compromises. The main constraint is the budget, so it is often a case of discounting certain areas or even whole districts. Robin Residences has taken that issue and ripped up the rule book.
These stunning new residences – available from early next year – give a whole new type of home buyers the opportunity to buy in District 10, with little or no compromise needed.
Project Name: Robin Residencies
Address: Robin Drive
Site area: Approx. 88,748 sqft
Configuration: 134 units
Unit types: 13 x 1 bedroom units (409 sqft)
65 x 2 bedroom units (538 – 958 sqft)
26 x 3 bedroom units (926 – 1281 sqft)
13 x 4 bedroom units (1464 – 1593 sqft)
4 x 5 bedroom units (1830 – 2120 sqft)
13 x penthouses (1259 – 2939 sqft)
Parking lots: 100% basement parking
Expected legal completion: First quarter 2016
Robin Residences consist of five towers, each six storeys high, and features 134 apartments ranging from 1-bedroom studios all the way up to 6-bedroom penthouses with everything in between.
There are different versions of each of the 2, 3, 4 and 5-bedroom apartments offering different amounts of space and layouts.
For those wanting a little more luxury, there are penthouse versions of the 3 and 4-bedrooms, as well as a 6-bedroom penthouse.
Construction is nearing completion – ahead of time – and it will be finished in the first quarter of 2016. Initial sales have been encouraging, with (at the time of writing, Nov 15) around 50% of units sold.
The majority of the 2-bedroom units have gone, confirming that this is a residence ideal for young professionals, starting out on the housing ladder and planning a family.
Facility-wise, it comes equipped with everything you would expect from a modern, high class condominium:
- 33m swimming pool complete with separate wading pool and sun decks
- Leisure lounge
- Meditation deck
- Children’s playground
- Aromatic garden
- Clubhouse featuring gymnasium and function room
A nice feature is the sky terrace, which includes:
- Tennis court
- BBQ pit
- Party pavilion
- Natural stone in kitchen, bathrooms, living rooms and dining rooms
- Timber flooring in bedrooms
- Ceramic tiles in balcony and yard
- Approved fire-rated timber door for main entrance
- Semi-hollow core timber swing/sliding door to store rooms, bedrooms, bathrooms, bathrooms and kitchen
- Aluminium framed with tinted and/or laminated glass panels to balcony/open terrace
- PVC bi-fold and/or slide & swing door to toilet in yard
- All doors provided with good quality locks and ironmongery
- Bathrooms come with separate shower cubicle with shower mixer set, wash basin with basin mixer, water closet, towel rail, toilet roll holder and mirror
- Penthouse units also come with a bath in the master and junior master bathrooms
- Yard toilets come with shower set (with bib tap), wash basin and tap, water closet and toilet roll holder and mirror
- Built-in wardrobe with light provided in all bedrooms
- Ducted air-conditioning system in living room, dining room and master bedrooms. Wall mounted units in all other bedrooms
- All apartments equipped with wiring and cable ready for internet connection
- High end European fittings in kitchens and bathrooms
All photos are from the 829 sqft 2-bedroom unit.
Bathrooms – both the main (above) and the master en-suite (below) – come with separate wet and dry areas, mirrors, and storage.
The open plan kitchen, as well as coming equipped with built-in high and low cabinets and solid, well-constructed work tops, also incorporates a breakfast bar.
All units come with fully integrated fridge freezer, induction hob and catalytic oven. Depending on your choice of unit, others also come complete with wine cellar, steam oven and dishwasher.
The living area makes full use of the space available, and is easily large enough for a decent size settee, coffee table, and sideboard, without looking cramped.
The second bedroom isn’t massive, but comfortably fits in a single bed, and the relatively high ceilings in these units make bunk beds an easy option.
The built in wardrobes are also sizeable, and once again, are designed to make full use of the available space.
The spacious master bedroom can accommodate a double, queen or king size bed. Depending on your choice of unit, the balcony may or may not be attached to the master bedroom.
One other feature of these residences worth pointing out, is that the ceilings on all of the ground floors are 4.2 metres high – giving easily enough space for a loft, without impacting on the feel of the room.
All other ceilings are 3.3 metres high which though not as impressive, still gives the impression of height and space, which is important given the other dimensions of the rooms may be slightly smaller than some other (more expensive) units on the market.
Situated in the heart of the ever popular District 10, Robin Residences has the best of both worlds. It has the benefit of world class transport, education, retail and dining on its doorstep, but without the hustle and bustle characteristic of other districts.
There is certainly a more relaxed feel about the immediate area, with an abundance of greenery giving the air of country living. The Botanic Gardens – the island’s only UNESCO World Heritage Site – is a 15 minute walk or five minute drive away, adding to the feeling of tranquility and being at one with nature.
On the other side of the coin however, within a matter of minutes you could be in the beating heart of Singapore – shopping on Orchard Road, or in a business meeting in the CBD (Central Business District).
Another advantage of this area is that it is in an already mature estate – you are unlikely to be faced with gradually disappearing views as condo after condo start to obliterate the horizon.
In Singapore, and especially in District 10, this is as unblocked as you can get.
An already impressive transport network is just about to get even better, meaning it’s one of the most connected places to be in terms of road and rail. Add to that the preponderance of excellent schools, and you quickly realise that this location – and especially this residence, ticks all the right boxes.
Getting there and away:
Whether your preferred mode of transport is the car, bus, MRT or your own two feet, you are going to be well catered for. MRT wise, the forthcoming Stevens station is an easy 5 minute stroll away.
Already up and running since December 2015, it is part of the extended Downtown Line that is expected to be completed in 2021 which will then link it to the Thompson Line.
Even without that, you have Newton and Orchard stations on the North South Line, and Botanic Gardens station on the Circle Line, all under a mile and a half away.
It is well served with buses, with stops just outside the residences.
For those wanting to drive, Bukit Timah Road and the PIE are on your doorstep giving you access to anywhere on the island. Depending on traffic, you could be in the CBD in a quarter of an hour.
Unlike many new condos, this does not feel that it has been shoe-horned into a limited space. Robin Residences certainly has room to breathe, situated as it is within a predominantly low-rise neighbourhood.
And with an outlook over Bukit Timah Road and four very highly regarded schools, that isn’t going to change any time soon.
Convenience isn’t compromised however. Literally on the doorstep there is a choice of eateries, including a pizza bar and Japanese restaurant. For those needing their fast food fix, there is also a MacDonald’s and Subway at Alocassia Apartments.
A Cold Storage is also ideally located two minutes’ walk away. A few minutes further afield there are more options, including an upmarket burger bar serving craft beer. The Botanic Gardens comes with its fair share of restaurants, and the residences are equidistant between the Newton and Adam Road Food Centres.
It’s not just about the stomach though, the mind needs feeding as well, and the area is populated by some of the finest schools on the island.
Across the road from the residences is the Singapore Chinese Girls School, with two other international schools – the San Yu Adventist and St Joseph Institution only slightly further away.
The Singapore Chinese Girls’ Primary, the Anglo-Chinese Primary and Junior schools are all within very easy walking distance as well.
For those looking for a touch of pampering, there is a spa located a mere two minutes’ walk away, and the famous Raffles Town Club just across the road.
Slightly further afield are the Premier Club, The Pines Club, the Hollandse Club and the Royal Tanglin Golf Course.
Caveated transactions for Robin Residences at time of writing (Jan 2016) stands at 71. Recorded transaction prices range from $970K to $5.702M, with a little over half of the transactions coming in at $1.5M or below (see Chart 1).
The closest competitor to Robin Residences is Robin Suites, located next door with a TOP also in 2016. Its median price for its 46 caveated transactions is $2,505 psf compared to Robin Residences’ $2,378 psf.
Robin Suites only offers 1 and 2-bedroom units, whereas Robin Residencies offers the full range from 1 bed through to 5-bedrooms and penthouses. Most 2-bedroom units have already gone, with a particularly strong demand for the larger 2-bedroom units.
To compare like for like, we will look at the 1 and 2-bedroom units for both developments. By looking at the caveats we can see that Robin Suites’ 1-bedroom units have a median price of $2,496 psf while those at Robin Residences is $2,445 psf. Transactions for these units at Robin Suites range from $1.06M to $1.219M while those at Robin Residences go from $970K to $1.013M
As for 2-bedroom units, Robin Suites have a median price of $2,509 psf to Robin Residences’ $2,366 psf.
Though these figures are a good guide, it is good to put them into context in terms of the unit sizes as well. Those being offered at Robin Suites come in two sizes a standard 1-bedroom unit comprising of 441 sqft, and a larger 1-bedroom with study which comes in at 463 sqft. The 1-bedroom units at Robin Residencies are 409 sqft. Regarding the 2-bedroom option, Robin Suites’ units are 549 sqft, whereas those offered at Robin Residences vary start at 538 sqft and go up as large as 958 sqft.
Robin Suites are focussing on the smaller units, and the 1-bedroom ones are more roomy, though there are only 13 such units built at Robin Residences. There is a lot more choice and space available once we start looking at the 2-bedroom options at Robin Residences.
Robin Residences does seem to offer the more affordable option and considerable more choice once you move away from the 1-bedroom option.
Future Rental Potential
To understand what rental prices will be like for Robin Residences, we need to look at rental prices for other projects in the area.
The current median rental price for projects in District 10 is around $3.8 sqft per month at the time of writing, based on rental transactions for the past four quarters. At these rates, a 409 sqft 1-bedroom unit Robin Residences would go for around $1800 to $2000 month, after factoring a 20% premium for its new build. With the median price for the unit being around $1M, the annual gross rental yield at the current rate would be an estimated 2.3%.
Switching to a 1281 sqft 3-bedroom unit, the monthly rental will likely be $5800 to $6500. If we take the median price for such a unit to be $2.9M, the annual gross rental yield at the current rate would be an estimated 2.5%.
Robin Residences is a stylish, modern condominium that rallies against both historical and current trends in the Singapore housing market. The area doesn’t need to sell itself.
The excellent schools, the varied dining options – ranging from fine dining to food courts and western fast food outlets – the relaxed feel, while at the same time being geographically close to Orchard Road and the CBD puts this district on the wish list of many potential buyers.
The problem has always been that units in this area have been built purposefully large, in an attempt to maximise their value and esteem. All well and good, but this has always pushed the price over and above what young professionals starting out, or certainly on the first few rungs of the property ladder, can afford.
And it is exactly those people that this development is aimed at.
Another plus for these developments is that though it is likely the majority will be bought for residential not investment use, when it is time to move on due to a larger family for instance, these should prove to be a sound investment.
The fact that it is a freehold will be a massive advantage. 95% of present condo sales are leasehold. Add to that the residences’ proximity to an MRT and this place is in a very small minority.
So, even if buying this first and foremost for a place to live – and for the money, there aren’t many better overall packages on the island – it is always good to know that you will have a very good investment on your hands if circumstances change in the future.
Sing Holdings Ltd is a very well established property development and investment company with a track record for bringing on a wide range of successful properties ranging from landed properties, and condominiums to factories and warehouses.
Since forming in 1964, the company – listed on the Mainboard of the Singapore Exchange – has strived to deliver dream homes to its homebuyers that are notable for the quality of both the design and construction.