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.
Sustained Land Pte Ltd is a property developer with a portfolio of over 2,500 residential units. Headquartered in Singapore, the firm has subsidiaries, joint ventures and associates serving a broad spectrum of customers.
Project Name: Sturdee Residences
Address: Sturdee Road
Site area: Approx. 65,797 sqft
Tenure: 99 years from February 2015
Configuration: 305 residential units
75 1-bedroom units (420 sqft)
23 2-bedroom units (570 sqft)
48 2-bedroom premium units (657 sqft)
26 2-bedroom + study units (721 sqft)
26 3-bedroom units (829 sqft)
73 3-bedroom premium units (947; 1,033; 1,044 sqft)
26 4-bedroom units (1,302 sqft)
8 5-bedroom single level penthouse units (1,399 – 1,830 sqft)
Maintenance fees: TBA
313 normal lots
4 handicap lots
Expected TOP: June 2020
Expected legal completion: June 2023
Sturdee Residences is a 305-unit development located along Sturdee Road. At time of writing (May 2016), all unit types are still available. Sales for the project have been good thus far. 40% of the units were sold during a VIP preview event held in end April.
Unit sizes range from 1- to 4-bedroom units and 5-bedroom penthouse units. The lowest-priced unit on PropertyGuru is a 450 sqft 1-bedroom unit going for $589,000, which translates to around $1,309 psf. A 1,830 sqft 5-bedroom penthouse unit is going for $3,000,000 and this is an estimated $1,639 psf.
For interested buyers, the show flat is not on site, but actually right behind City Square Mall, along Kitchener Link.
The project consists of two 30-storey residential towers, with three sky decks that connect them both on the 14th, 19th and 29th storey.
Facilities are spread out evenly across the development, and even on the three sky decks.
The infinity lap pool on the first level is a great area for lounging and relaxing.
The sky decks on levels 14 and 19 offer amazing views of the surroundings. The indoor gym and fitness alcove are on level 14.
Lastly, the sky park on level 29 is perfect for dining at night with its private sky lounge and sky bar.
For 1-bedroom units, stacks 4, 10 and 11 are all outward facing.
Stacks 10 and 11 overlook the children’s water play zone.
For 2-bedroom units, stacks 6 and 7 are inward facing with a full pool view.
For 2-bedroom + study units, stack 3 is outward facing towards the entrance of the project and Beatty Road further ahead.
For 3-bedroom units, stack 9 is inward facing with a full pool view.
Stack 1 is also inward facing, but with a partial pool view.
For 4-bedroom units, stack 8 is inward facing, overlooking the street soccer and basement court.
Showflat units are available for the 2- and 4-bedroom units. Photos in this review are from both units. Unit layouts vary from the conventional designs with this development.
First and foremost, every unit comes with a digital lockset.
Cabinets with solid surface countertops and a sink with mixer are provided with the kitchen. Appliances provided in the 2-bedroom unit include a built-in oven, induction cooker and hood and refrigerator all from Smeg.
The dining area is right in front of the kitchen.
The living area is just beyond and extends to the balcony.
The view from the balcony of the 2-bedroom unit.
The common bedroom can accommodate a single bed comfortably. You could also choose to turn the room into a lounge or entertainment area like in the above.
The common bathroom has a wet and dry area as per usual.
The master bedroom can just about fit a queen-sized bed.
The master bathroom is similar to the common one, but comes with a rain shower which some of you may be looking for.
Two people could probably move around in the 4-bedroom unit kitchen simultaneously if need be.
The utility space and water closet are in the yard area which is to the left of the entrance.
The dining area is opposite the kitchen.
The living space is just beyond the dining area, and extends to the balcony.
The view from the balcony of the 4-bedroom unit.
The common bedrooms can accommodate a single bed comfortably. You could go with the double deck bed to maximize space. The higher than usual ceiling height of 3.2m should make this a practical solution.
The common bathroom is similar to the one in the 2-bedroom unit.
The junior master bedroom can fit a queen-sized bed with leg room to spare.
The junior master bathroom is slightly wider than the common bathroom.
And finally, the master bedroom and bathroom.
Buyers are likely to be a mix of owner-occupiers and those looking to lease. Singaporeans and permanent residents account for an estimated 90% of sales currently.
Farrer Park is an area known for its rich sporting heritage and history. The place was originally home to Singapore’s earliest horse racing turf club – hence the name ‘Old Racecourse Road’.
Getting there: Sturdee Residences is located along Sturdee Road of District 8. If you’re travelling by train in the mornings, Raffles Place MRT is a 9-minute ride from Farrer Park MRT. By car, it is a 6-minute drive to town via the Central Expressway (CTE), assuming optimal traffic conditions.
Farrer Park MRT is about a 5-minute walk away. From there, Dhoby Ghaut MRT is two stops down, City Hall MRT three stops and the entire Orchard Shopping Belt and CBD area four stops down.
The upcoming Bendemeer MRT will be an even shorter walk away. Part of Stage 3 of the Downtown MRT line connecting the north-western and eastern regions of Singapore to the CBD and Marina Bay area, it should be ready sometime in 2017.
The estate: The area surrounding Sturdee Residences is mostly residential and commercial. The development is right in the middle of a stretch of road that has been earmarked by the Urban Redevelopment Authority as a key area to be preserved while also being revitalized for the future.
The nearest bus stop is the one right in front of Hoa Nam Building, along Jalan Besar. Between them, the services cover Choa Chu Kang, Bedok, Bukit Timah, Tampines, Geylang, Yishun, Yio Chu Kang, Rochor, Novena, Thomson, Aljunied, Pasir Ris, Whampoa, Farrer Park, Toa Payoh, Little India, Bendemeer, Macpherson, Serangoon, Eunos, Harbourfront, Jurong, Bukit Batok, Ang Mo Kio, Bukit Merah, Balestier, Orchard and the CBD area.
As for school options, there are a few nearby.
- Stamford American International School
- SJI International School
- Insworld Institute
- International Management School
City Square Mall is about a 5-minute walk away. Anchor tenants at Singapore’s first eco-mall include Uniqlo, NTUC Fairprice and Golden Village Cinemas. Shoppers will enjoy the spread of over 200 stores and services.
Singapore’s only 24-hour shopping mall, Mustafa Centre, is about an 8-minute walk away. The Mustafa department store consists of two shopping centres – one for jewelry and household appliances and another for a variety of products like DVDs, books, watches, electronic goods, footwear and clothing.
Connexion at Farrer Park, Singapore’s first integrated hospital and hotel complex is a 5-minute walk away. This makes it convenient for residents who may require outpatient treatment regularly or in the case of an emergency.
Little India is also within walking distance of Sturdee Residences. Serangoon Road is the main commercial thoroughfare in the area. Along and around it, you can find Tekka Mall, the Little India Arcade, Serangoon Plaza and several Hindu temples, mosques and other places of worship. Famous for its food and heritage, the place is frequented by locals and tourists.
As for healthcare needs, if Connexion is not sufficient, KK Women’s & Children’s Hospital is a 3-minute drive away. There are also a number of general clinics in the area as well as at City Square Mall itself.
Caveated transactions for Sturdee Residences at time of writing (May 2016) stands at 142. Recorded transaction prices range from $672K to $3.057M (see Chart 1).
Sturdee Residences’ closest competitor would be The Citron Residences, located next to City Square Mall, along Marne Road. Its current median price is $1,585 psf to Sturdee’s median of $1,626 psf. Residents at The Citron Residences are also likely to be a good mix of owner-occupiers and tenants who like the project’s location.
Units at The Citron Residences range from 1- to 3-bedroom units. To have a clearer picture, we will be looking at 1- and 3-bedroom units in particular, across both developments. According to caveats, Sturdee Residences’ 3-bedroom units have a median price of $1,474 psf while The Citron Residences’ is $1,500 psf. Transactions for the units at Sturdee Residences range from $1.183M to $1.295M, and are between $1.363M and $1.381M at The Citron Residences.
As for 1-bedroom units, Sturdee Residences’ have a median price of $1,692 psf and The Citron Residences’ have a median price of $1,780 psf. Transactions for the units at Sturdee Residences range from $672K to $755K, and are between $694K and $762K at The Citron Residences.
Before deciding based on these numbers alone, we should look at unit sizing as well. 1-bedroom units are 420 sqft at Sturdee Residences and are between 388 sqft and 431 sqft at The Citron Residences. 3-bedroom units are generally larger at The Citron Residences, being between 818 sqft and 1,119 sqft. At Sturdee Residences, they are 829 sqft.
Future Rental Potential
To understand what rental prices will be like for Sturdee Residences, we need to look at rental prices for other projects in the area.
The current median rental price for District 8 (Little India) is around $3.77 psf per month at time of writing, based on rental transactions for the past 4 quarters. At these rates, a 3-bedroom unit around 829 sqft at Sturdee Residences would go for around $3,750 a month, after factoring a 20% premium for its new build. With the median price for the unit being around $1.221M, the annual gross rental yield at the current rate would be an estimated 3.7%.
The median unit size of a 3-bedroom at The Citron Residences, on the other hand, would probably fetch around $4,100 a month at today’s rental rates. This translates to around 3.6% in annual gross rental yield.
A 1-bedroom unit at Sturdee Residences would go for around $1,900 a month and this would approximately be a 3.2% rental yield. With The Citron Residences, you could get around $1,850 a month and this would be an estimated 3% in annual gross rental yield.
According to the estimated figures, rental yield for Sturdee Residences seems to be higher. The choice of nearby amenities are pretty much the same, with the projects being close to each other. Unit sizing however, differs with some units at The Citron Residences being a bit larger.
With the upcoming revitalization plans for the district, rental prices could increase further, so rental yield could also possibly be even higher.
Location is Sturdee Residences’ biggest plus point. Being situated in the centre of a rejuvenated area that stretches from Jalan Besar to Kampong Glam, Ophir and Rochor, residents will definitely enjoy being so easily connected to several parts of Singapore.
The easy access to major expressways and the MRT stations nearby make it extremely convenient to navigate – the number of rental contracts at the nearby City Square Residences is testament to this. Following its transformation into an urbanized district, the Ophir-Rochor corridor will be a mixed-use hub featuring offices, hotels and residences, connecting Marina Centre to future developments along Rochor Canal and Bukit Timah Canal.
A potential drawback that arises because the project is located in a predominantly commercial area, is the lack of a range of educational institutions. There are primary schools within walking distance, but secondary and tertiary school-going residents may have to travel a bit.
Investment potential is high and this is clearly evident from the fast-selling 1- and 2-bedroom units. With the upcoming changes to the Jalan Besar/Rochor district, there will be demand for private residential units in future.
Overall, purchasing a unit at Sturdee Residences for investment purposes or as a home buyer, seems like a good move. Given the relative affordability, the facilities offered and the location, you will be getting a pretty sweet deal.