Seaside Residences Review



  • Christopher Chitty
  • 27 April 2017

Interested in this project? Visit our listings page.

Project Name: Seaside Residences

Address: Siglap Road and Siglap Link

Type: Condominium

Site area: approx. 207,842 sqft

Tenure: 99-year leasehold

District: 15

Configuration: estimated 840 units in two, 27-storey towers.

Unit types: 297, 1BR (420, 689, 506, 560, 775, 592 & 732 sq ft.)

244, 2BR (678 – 807 sq ft., 786, 936, 829 & 980 sq ft.)

245, 3BR (1,023, 1,087, 1,302, 1,130, 1,206, 1,475 sq ft.)

52, 4BR (1,485, 1,679, 1,733, 1,938 sq ft.)

3, 5BR Penthouse (3,294 sq ft.)

Est. TOP: 2020

Frasers Centrepoint Homes is part of the FCL group and has developed and launched several world-class developments in Australia, New Zealand, China, Thailand, UK and Singapore

Project Details

Propshort: Seaside Residences is a hot contender for one of the best new developments of 2017 and the year has barely hit its second half. When a project offers highly attractive and incredibly well-designed and spacious 1BR units, it only goes up for there and every unit type at Seaside exudes that same level of well-thought out design matched with impeccable finishing. 

Seaside Residences is a popular project. Last weekend, during its launch, 70% of its 560 (phase 1) units have already been snapped up.

Seaside Residences

Seaside Residences

The stunning four block condominium backed by Victoria School and fronted by the ECP is in an advantageous position. It comes into this popular mature district just as MRT stations are being developed.

The showflat has four units on display, a 3BR, 4BR, 2BR and 1BR and all are evidently well-designed for their respective target audiences.

3BR + study (1,087 sq ft.)

At 1,087 sq ft., the 3BR + study unit opens with a rather generous foyer that leads directly to a spacious kitchen or if you make a left turn, then to the living and dining room where the balcony overlooks the entire area in the distance.

Seaside 3BR living room

Seaside 3BR living room

The living space even without the balcony can be considered big. Residents won’t have any problems if they want to mount a 60-odd inch television on the far wall. A big display like that would be just nice. It might even be possible to go for a bigger display, depending on how wide and big the couch is.

Seaside 3BR living and balcony

Seaside 3BR living and balcony

Bedrooms are all decked out in timber flooring and swing door with built-in air-conditioning and wardrobes. The significant draw here is that even with a super single bed in the room, space does not feel limited.

This expanse is further elaborated on at the master bedroom. The attached bathroom comes with a rain shower while the built-in wardrobe is shaped like an L, to better make use of the available wall.

As a result, the king-size bed has a nook all to itself and the couple taking up residence in that room have plenty of space to walk around in or even to build a floating shelf at the far wall from the foot of the bed to mount a television above.

Seaside 3BR master bedroom

Seaside 3BR master bedroom

4BR Type D2 (1,733 sq ft.)

The 4BR unit is an extravagant display of high-end living space for people who can afford it. It’s at the top of pecking order on a list of exceptionally well-done units.

A large foyer, home to the private lift greets you and from its hypothetical doors one would enter the living room – a sweeping vista of couches, shelves, dining table topped off by a long balcony that adds to an already large common space.

This type of living room is rare and seen so far in a handful of projects. That Seaside Residences offers a 4BR unit with this type of layout is a big positive.

Seaside 4BR living from balcony

Seaside 4BR living from balcony

The junior master bedroom is located just behind the wall where the TV is mounted. It is junior in name only as the room is extremely spacious, even with its own bathroom. Additional furniture like shelves and even a small table can fit easily, alongside a queen-size bed.

Of the kitchen, there are two – a dry kitchen located next to where the dining table is and supported by a fleet of cabinets, an oven and microwave and a wet kitchen with a sliding door.

Seaside 4BR dry kitchen

Seaside 4BR dry kitchen

The wet kitchen also extends into a hidden area where the yard and pantry are located. The washing machine and dryer take up little space there and not an inch of the kitchen is cannibalised to make way for the yard space.

Bedrooms too are spacious with the master bedroom once again taking the prize.

1BR + study suites (560 sq ft.)

As a studio type of apartment, the 1BR is rather big. The unit is an excellent example of space managed well.

1BR living room

1BR living room

The bedroom as presented here is without a partition which on one hand might come across as strange for some people. But on the other hand, the lack of a partition keeps the space ventilated and less claustrophobic. For small units, walls and partitions are the biggest enemies and the lack thereof keeps everything looking neat, organized and well-lit.

It is a good-looking unit and where other studio 1BR apartments are just barely managing to be liveable, the Seaside Residences 1BR unit is comfortable and extremely attractive.

 

Seaside 1BR

Seaside 1BR

For singles, or even young couples, the 1BR unit at Seaside Residences is a perfect start to living in a condominium. For investors, it is the ideal option. This is easily one of the best looking 1BR units you will find in the market.

2BR Type B2 (786 sq ft.)

Where the 1BR unit is a good first step for couples, the 2BR unit is the next step for when a couple has a child. The unit is sufficient for no more than three people. You could technically make two people share the common bedroom but the space isn’t conducive for that.

For one person, however, the common bedroom is adequate. The master bedroom on the other hand has plenty of space much of which is owed to the floor to ceiling windows that admit a lot of light into the room.

Seaside 2BR master bedroom

Seaside 2BR master bedroom

The master bedroom is adjacent to the common bedroom so the resident can opt to turn the extra room into a connecting room, walk-in wardrobe or study if there are no kids.

As for the rest of the unit, there’s a bit more partitioning going on here than at the 1BR but not so much that it takes up valuable space in the living area, like the kitchen for example.

Seaside 2BR kitchen

Seaside 2BR kitchen

This unit, like all the others, come with hidden storages that adds plenty of functionality to the family living there. Extra storage spaces, especially those that take the shape of partitions and are flushed with the walls do not take away from the space but gives so much usability to the owner.

Seaside 2BR

Seaside 2BR

The 2BR is big and the images do it little justice. A recurring theme here is that the balcony always adds to the space rather than take away from it. Many developments tend to give plenty of balcony instead of living room but that’s not a problem at Seaside Residences. The balcony is cosy and handles its purpose well.

It’s a great look for a 2BR and it is possible, that this unit type will be extremely popular.

Interested in this project? Visit our listings page.

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Location

Propshort: It is hard to fault district 15. There is no lack of anything save an MRT station and very soon, several are expected to pop up. Travel is already convenient without MRT as fleets of buses that go to almost every part of the island are accessible from nearby bus stops. Shopping malls like Parkway Parade and 112 Katong are nearby and even Bedok Mall and Bedok Point can be considered to be within the area. The closest cinema is at 112 Katong but soon, a new cinema at the old Princess Theatre at Bedok and another soon to come to Parkway Parade will give the residents in the area more entertainment options. 

As mature as the entirety of district 15 is, there are still pockets of land that are gradually being converted into homes. In addition to the condos that are slowly making inroads, the upcoming Siglap MRT station along Marine Parade Road and diagonally across the road from Victoria School is being built. As part of the new Thomson-East Coast Line (TEL), the MRT station brings much needed train support to a well-connected district that’s managed to survive without it for so long.

It must be said however that depending on where the entrance and exit for Seaside Residences is placed, the walk-time to the MRT station will vary. However, the walk to the entrance of the train station shouldn’t take 10-minutes. It is highly likely for the path to be unsheltered.

Siglap Link

Siglap Link

As is the case with new MRT stations, new developments tend to pop up around it like trees around a pond. One such project is taking up residence in what was a previously verdant stretch just behind Victoria School.

With ingress and egress possible through either Siglap Road or Siglap Link via Marine Parade Road, the upcoming 99-year leasehold property known as Seaside Residences is already poised to take advantage of two arguably important factors; direct access to the ECP (East Coast Highway) and an unobstructed view of the sea. Access to the ECP makes travelling to places like the Singapore Expo, Tampines and more importantly, Changi Airport a lot easier.

Also, roughly a 10-minute walk along the pedestrian path parallel to the ECP in the direction of Bedok, there’s an underpass that connects this side of Marine Parade with the beach at East Coast Park. Once across, there’s the East Coast Lagoon Food Village and Jumbo Seafood Centre (on either side of the pond belonging to the Singapore Wake Park). Further up there’s Bedok Jetty; a popular spot for fishing.

Outdoor recreational amenities aside, there are several other commercial venues that while not quite within walking distances (though you can certainly walk to and fro if you want), are accessible by bus. The closest would be Siglap Centre and the whole stretch of Upper East Coast Road. Both sides of the road are peppered with various restaurants – from local, to Asian to the more hipster fare – hawker centres and even the popular and colloquially named Beer Garden (936 LTN Food Village) which is situated just beside NTUC Fairprice and across the road from Starbucks.

The district’s perennial mall – Parkway Parade – is about a 10-minute ride by bus. To get there, residents need only walk to the bus stop in front of Victoria School. There are at least six buses – 31, 36, 43, 135, 196 & 197 – that take you to the bus stop just before Parkway Parade.

Parkway Parade

Parkway Parade

36 also goes to Orchard. From Parkway Parade, 112 Katong is within walking distance and over there is the closest cinema for those living in District 15.

Seaside Residences tenants however are in a unique position because in a few years, the old Princess Theatre building behind Bedok Interchange in neighbouring District 16 will have completed its redevelopment.

Once that happens, residents will have two cinemas in the East to choose from, on top of various other shopping, dining and even fitness options in the area.

With public transport, outdoor recreation, shopping, dining and entertainment located within acceptable distances, the area has one last thing to provide; schools.

Other than Victoria School, there’s CHIJ Girls (Secondary) and Ngee Ann Primary down the road from Victoria Junior College. St. Patrick’s Secondary (Boys) is located just across CHIJ. About three bus stops down are CHIJ Primary (Girls) and Tao Nan Primary. There’s also a St. Andrews Autism School along Elliot Road.

Victoria School behind showflat

Victoria School behind showflat

One caveat here about the closeness to Victoria School is that residents may have to get used to the daily singing of the anthem and the frequent sounds of marching band and other noises that will accompany the many activities the students at the school participate in.

Parents wanting to enroll their kids in any of the primary or secondary schools have the benefit of proximity. The distance also cuts down on travel time significantly.

Interested in this project? Visit our listings page.

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Analysis

Per URA data, the median psf for District 15 is SGD3.16. Seaside Residences is also the only new project to come to the area since Villa Marina in 1999. Though initial sales expectations showed prices from SGD885,000 for a 1BR suite, SGD1.3M for a 2BR DK unit, SGD1.6M for a 3BR + study and SGD2.3M for a 4BR, Seaside Residences lowest transacted is a 420 sq ft. 1BR unit at SGD689,920.

Seaside Residences transaction

Source: URA, PropertyGuru

434 out of 840 units have been transacted so far with no sign of stopping. It is also interesting to note that more people have purchased units between SGD900K and SGD1.5M. That alone commands the bulk of the transactions, at 256. The lower-priced units’ number 48 sold while the second highest was 122 transacted for units between SGD1.6M to SGD3M. In a true show of force, one unit at 3,294 sq ft. was transacted at an astounding SGD5.72M.

More URA data, the most popular unit type purchased is the 786 sq ft. 2BR unit between SGD1.2M to SGD1.5M. Average psf for the 2BR based on transactions is SGD1,769.

That there is strong interest is clear. What is clearer yet is that buyers aren’t afraid to take up the pricier units. This can be attributed to two things; Seaside Residence’s extremely well-designed units and the district’s maturity & popularity.

Rental

Resale prices at estates like Lagoon View have fetched around $1,100,000 for a 1,647 sqft unit so for a new project in a mature district about to get its own MRT station within walking distance, prices are expected to be at a premium, even future-priced to a certain extent.

Monthly rent for a 2BR unit at 786 sq ft. can fetch up to SGD2,900 on average. This is based on URA’s median psf price of SGD3.06, after a 20% new build premium has been added. The median transacted for the 786 sq ft. unit is SGD1,389,965. From that, median rental yield comes up to a decent 2.5%. This number will likely increase in the coming years.

Interested in this project? Visit our listings page.

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Summary

There are many things great about Seaside Residences. Its proximity to the upcoming Siglap MRT station, the convenient way drivers can get onto the ECP and the many schools within 2km of the development are just some of them. Throw in Siglap Centre, Beer Garden, the many other eateries around Siglap as well as 112 Katong and Parkway Parade in the opposite direction and you’ve got a fairly central development surrounded by both necessary and nice to have things.

There’s even a bus stop at the new road being built in front of the development where buses like 135 coming in from Parkway Parade will pass by.

Victoria School and siglap link

Victoria School and siglap link

But on the flipside, Seaside Residences is less sea-side and more sea view­ if you’re on a high enough floor. The development is also sandwiched between Victoria School and the ECP. While this back-to-back proximity to both opens a rather unique form of convenience for the residents here, it does pose a slight issue.

Anyone who lives that close to a school will need to get accustomed to the sounds of the students when they partake in CCAs, parades and so forth. Then, the constant traffic from the ECP can add to the overall noise in the area. No doubt trees and other plantations will help to mitigate the sounds but people on the lower floors should not expect total peace and quiet all the time.

In addition, the closest and most conveniently located hawker centre or array of shops are at Marine Parade which is about a 15 to 20-minute walk past Victoria School. You do not have to walk as there is a bus stop directly in front of Victoria School (and in front of the development). Marine Parade is just three bus stops down and every bus will pass by there.

Other than that, and the high costs attached to the development, Seaside Residences is a worthy entry into this district. Its arrival ahead of the MRT station in an area that’s mostly seen its fill of new developments provides a rare opportunity for people who want to live in the east but do not wish to deal with resale HDB flats or condominiums.

Seaside Residences model

Seaside Residences model

Other than its high price-tag (a result of the mature district, conveniences and MRT station), Seaside Residences is an extremely well-designed, attractive development with some of the best-looking and spacious units in the market currently.

Interested in this project? Visit our listings page.

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Eric Wong

Christopher Chitty

"I read, I write, I lift. I am content"