Park Nova is a luxury development located in District 10. Aside from its freehold status, the development also offers super spacious units and easy access to MRT stations and nearby amenities.
Continue Reading ⋅ 15 June 2021
Project Name: The Iveria
Developer: Macly Group
Project address: 2 Kim Yam Road
Type: Private Condominium (Foreign purchase eligible)
No. of units: 51
No. of storeys: 18
Tenure: Freehold
District: 9
Projected TOP: Q4 2022
Parking lots + handicap lots: 40 + 1
Nearest MRT: Somerset MRT
Site Area: 1364.9 sqm
Plot ratio: 2.8
Project Details
Inspired by the cosmopolitan lifestyle of New York City’s Manhattanites, The Iveria is a luxurious freehold residence in the heart of prime District 9 which boasts 51 exclusive units and an envious panoramic city view.
Developed by the Macly Group, established local boutique developers, this project promises high quality and well thought out features. What’s unique about this development is that all units are 3-bedrooms plus study types. Macly strategically targets their buyer profile of younger new generation families looking to settle down in their first home, allowing for a more exclusive living experience.
Suggested read: Why Iveria Only Has One Unit Type
Designed with New York City’s Flat Iron building in mind, The Iveria boasts a sleek and streamlined exterior that disappears to a point when looked at from a certain angle. Every aspect of the interior design has been used to curate a modern and minimalist aesthetic from the exposed concrete to the marbled countertops, creating a sophisticated yet effortless ambience.
The location of The Iveria is unparalleled and needs little introduction, residents are a mere 10-minute walk away from North-South Line (NSL) Somerset MRT Station, 12 minutes walk away from Orchard Road, and a 10-minute drive away from the likes of the Central Business District (CBD), Marina Bay, and Gardens by the Bay.
Residents will get to access the upcoming Great World City Station (under construction) along the Thomson-East Coast Line (TEL), which will directly connect residents of The Iveria to Upper Thomson, Stevens, Outram, the East Coast, and Changi Airport by 2023.
The Iveria: Developer
Macly Group is a local property developer that has a track record in developing landed properties, apartments, condominiums, mixed developments, commercial and cluster housing projects. It was the pioneer in shoebox apartments but the company has since shifted gears to develop projects with unique design concepts such as NoMa, Tedge and Neu at Novena.
The Iveria: Design
The project’s design features a gorgeous aesthetic with functional luxury, utilising a minimalist palette for a clean look. The project embraces the urban aesthetic with exposed concrete walls and copper finishing, but balances it out well with stainless steel and marble surfaces, complemented by plenty of natural lighting flooding in.
The showroom showcases the open living concept; the balcony is converted to an indoor dining space by shutting the balcony blinds and opening the sliding glass doors to extend the living room space to face the kitchen. One of the common bedroom is designed to be a nursery or a storage space, but can also be closed off to connect to the master bedroom as a walk-in closet at the buyer’s request.
Common bathroom.
Meanwhile, the bathrooms come with premium fittings and furnishings, resembling a hotel’s suite more than a condo. These include a top-notch rain shower, floor trap, fountain tap, and towel hooks, which all arrive with the unit as it appears in the showflat.
The master bedroom features a glass wardrobe with a ‘his’ and ‘hers’ dresser, which also arrives with the unit as seen in the showflat with the backlighting included. The showflat unit was of the middle unit in the centre of the building, however the corner units appear equally spacious and guarantee even more natural light flooding in during the day.
The Iveria: Site plan
The Iveria sits at the premium junction between Kim Yam Road and River Valley Road. With units facing outwards, the site is decorated with lush greenery surrounding the residence. The main entrance runs along Kim Yam Road, whilst the rear entrance can be accessed from the River Valley Roadside. Residents will also have a side gate next to the main entrance.
The ground level hosts the gourmet dining pavilion and cascading terrace, and the condominium’s car park and bicycle parking.
The Iveria: Floor plan
Type A
These units have a shared balcony connected to the living room, and a private balcony in the master bedroom. The kitchen spills out into the spacious living and dining area. Tucked away behind is the study, which sits next to the guest bathroom.
The master bedroom, and 2nd and 3rd bedrooms all run alongside the same wall facing Kim Yam Road, ensuring plenty of natural lighting.
Type B
Type B units are in the center of the building, so the unit is stretched out with the master bedroom on one end and the two bedrooms on the other, with the living, dining, and kitchen area in the middle. The large balcony sits alongside the kitchen and can be opened up to extend the living area as an extended entertainment space, or can otherwise be left as an alfresco dining area.
The unit’s study sits between bedroom 2 and 3 which share one bathroom, while the master bedroom and bath on the other side of the unit are connected by the walk-in wardrobe.
Type C
These units are situated on the building’s pointed edge, creating a unique unit layout that boasts two bay windows, ensuring plenty of natural light. On the far end of the unit sits the living and dining area, next to the kitchen which is opposite the spacious balcony which again, can be extended into the living area or serve as an alfresco dining area.
Bedroom 2 and 3 are separated by their shared bathroom, which the study is across the hall from. At the end of the unit is the master bathroom and bedroom, which, despite sitting at the pointy edge of the building, still feel spacious and open, with plenty of natural lighting.
The Iveria: Facilities
Residents of The Iveria will be able to enjoy the peak cosmopolitan city living experience, with plenty of alfresco spaces to choose from, all facing a glorious panoramic view. Curated facilities include the pool and pool deck, sky deck for drinking and dining, fitted with a bar and fridge, as well as the cascading terrace and dining pavilion for hosting and entertaining.
The project also features a unique automated parking system, which transports vehicles to vacant lots without you having to reverse in and out yourself. This automated valet simply requires you to drop off your vehicle on a sensor plate, and puts it into the lot with a simple tap.
To inquire about The Iveria, see all units for sale on PropertyGuru, or visit the showflat at 2 Kim Yam Road.
Location
The Iveria’s location needs little introduction. Located in the prime neighbourhood of River Valley, the residence is a stone’s throw away from Somerset and Orchard Road, which are a less than 10 minutes walk away. Robertson Quay and Great World City are a 15 min walk away, while the dining streets of Mohamed Sultan Road and Killeney are within 1km away.
The development sits between Kim Seng Park (8 mins walk) and Fort Canning Park (12 mins walk), providing residents with a bit of nature in the heart of the city. Otherwise, residents can reach Gardens by the Bay which is an 8-minute drive away.
The Iveria is well connected by the North-South Line (NSL) from Somerset MRT, and the Thomson-East Coast Line (TEL) by the upcoming Great World City MRT Station.
The Iveria nearby shopping malls
- Great World City (1.2km, 14 min walk)
- Orchard Central (950m, 11 min walk)
- Orchard Gateway (950m, 11 min walk)
- 313 Somerset (900m, 11 min walk)
- Ngee Ann City (1.3km, 16 min walk)
- Paragon Shopping Centre (1.2km, 15 min walk)
- Robertson Walk (600m, 10 min walk)
- OG Orchard Point (700m, 8 min walk)
- Midpoint Orchard (700m, 8 min walk)
The Iveria nearby supermarkets
- FairPrice Grand Court (450m, 5 min walk)
- I Tec Supermarket (500m, 6 min walk)
- Cold Storage UE Square (700m, 8 min walk)
- FairPrice Somerset (800m, 10 min walk)
- DON DON DONKI (950m, 11 min walk)
The Iveria nearby schools (within 2km radius)
- Saint Presbytarian Schol (350m, 3 min walk)
- River Valley Primary School (450m, 5 min walk)
- Eton House Robertson (550m, 6 min walk)
- Italian School of Singapire (1km, 13 min walk)
- Manasseh Meyer Hebrew School (900m, 11 min walk)
The Iveria nearby amenities
- Kim Seng Park (800m, 7 min walk)
- Amped Trampoline Park (350m, 4 min walk)
- Istana Park (1km, 11 min walk)
- Fort Canning Park (1.3km, 20 min walk)
Analysis
The Iveria: Price
According to Macly, the average psf price is $2,600. Unit prices range from $2.25 to $2.52 million. For an exclusive freehold property in District 9, prices are very reasonable, considering how The Iveria only has 51 units.
The Iveria: Monthly maintenance fees
The estimated monthly maintenance fee is from $380 to $450.
The Iveria: URA Master Plan
There are several residential developments (beige) with similar plot ratio around The Iveria. However, what’s interesting is the number of Reserve Sites around (yellow), of which the land use has not been determined. In short, there’s potential for capital gains.
That said, the condo sits right at the intersection of Kim Yam Road and River Valley Road, so expect some road noise. Also, as mentioned, whilst the residential plots around could benefit those who look for capital gains with future developments, it could also spell some level of inconvenience and construction noise for residents if these sites are sold.
District 9 URA Master Plan
The TEL will boost the already great connectivity in the area with MRT stations Great World City, Orchard Boulevard, and Orchard Road, which will provide residents of The Iveria with direct transport to Shenton Way, Outram Park, Gardens by the Bay, Upper Thomson, Woodlands, and the East Coast by 2023.
As part of the URA’s Master Plan to increase the number of green open spaces in Singapore, residents of The Iveria will be able to enjoy a new green walking trail from the Botanic Gardens to Fort Canning Park, passing through Tanglin, Orchard, and Somerset.
Orchard Road is also expected to get a facelift, as there are plans to ‘bring back the Orchard’ by increasing green cover along the boulevard which will also make the area more pedestrian-friendly and visually pleasing.
Getting to call the city centre your neighbourhood is a great privilege with many upsides ranging from accessibility to convenience and never-ending choice, however this can also mean you are surrounded by construction and are most likely to be affected by traffic, so do bear this in mind.
Considering the prime location of the residence in the heart of District 9, those looking to live or invest in The Iveria will have little to worry about regarding future property prices, which will always remain high and further appreciate in the city centre.
Summary
This freehold development with a highly sought after District 9 address is a very attractive deal, especially when factoring in the unparalleled location, amenities, and accessibility. A stone’s throw away from the heart of Singapore, Orchard Road, The Iveria offers residents the chance to experience a lifestyle of luxury and elegance, whilst maintaining an effortless and minimalist and aesthetic. In line with the brand’s vision to inspire the upcoming generation to be more bold and trendy, living in The Iveria will feel like you are in the centre of the world.
However, do note that the condo has only 41 parking slots (including 1 handicap parking slot), which is noticeably fewer than the 51 units available. As mentioned previously, Iveria is also located next to River Valley Road, which could attract road noise.
All in all, The Iveria offers something unique, the one unit type helps to keep prices low for a luxury development, and the seamless layouts and location means that millennials will find this particularly attractive.
To inquire about The Iveria, see all units for sale on PropertyGuru, or visit the showflat at 2 Kim Yam Road.
