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
Roxy-Pacific Holdings Limited is an established property and hospitality group principally engaged in the development and sale of residential and commercial properties and the ownership of Grand Mercure Roxy Hotel and other investment properties.
Project Name: Trilive
Address: 111 Tampines Road
Site area: Approx. 78,030 sqft
Tenure: Freehold
District: 19
Configuration: 222 residential units
2 commercial units
Unit types:
4 1-bedroom + study units (463 sqft)
36 2-bedroom units (549 – 570 sqft)
88 2-bedroom Dual Key units (614 – 689 sqft)
71 3-bedroom Dual Key units (883 – 904 sqft)
23 4-bedroom Dual Key units (1,163 – 1,195 sqft)
Maintenance fees: Approx. $4.50 – $5 per share value
Parking lots:
222 normal lots
5 handicap lots
Expected TOP: December 2018
Expected legal completion: December 2021
Project Details
Trilive is a 222-unit freehold development located along Tampines Road. At time of writing (Dec 2015), all unit types are available.
Unit sizes range from 1- to 4-bedroom units. The lowest-priced unit on PropertyGuru is a 463 sqft 1-bedroom unit going for $735,000, which translates to around $1,587 psf. A 1,163 sqft 4-bedroom unit is going for $1,825,000 and this is an estimated $1,569 psf.
The show flat is on site, along Tampines Road.
Construction is still in the early stages.
The project consists of three blocks standing at 13, 14 and 18 storeys high respectively.
Facilities are organized into three storeys –garden living (1st storey), cove living (4th storey) and sky living (roof top).
Source: Developer’s brochure
Source: Developer’s brochure
Source: Developer’s brochure
Source: Developer’s brochure
The four 1-bedroom units are all in stack 1 which is inward-facing with a partial pool view.
2-bedroom units are in stacks 14 and 15, which are both outward facing.
For 2-bedroom Dual Key units, stack 10 is inward-facing with a partial pool view. Stacks 4 and 5 will enjoy direct access to the roof terrace, however.
For 3-bedroom Dual Key units, stacks 8 and 9 are inward-facing with a full pool view. Stack 1 while also inward-facing, will only have a partial pool view. Stacks 1 and 8 will have direct roof terrace access.
Lastly, for 4-bedroom Dual Key units, stack 7 will be inward-facing with a full pool view.
Showflat units are only available for the 2- and 4-bedroom units.
Specifications:
Flooring
- compressed marble with compressed marble skirting for living, dining areas, study, suite, kitchen and foyer
- timber parquet and/or timber strip with timber skirting for all bedrooms
- ceramic and/or homogenous tiles for all bathrooms, balcony, private enclosed space (PES) and housing shelter (HS)
Doors
- fire-rated timber door for main entrance
- hollow core timber and/or PVC doors for bedrooms, bathrooms and suite
- aluminium framed glass and/or hollow core timber door for kitchen
- aluminium framed glass door for balcony and PES
- bi-fold door for water closet and utility
- approved fire-rated metal door for household shelter
Sanitary fittings
- glass shower cubicle and/or screen with shower mixer and shower handset, basin with tap mixer, water closet, paper holder and mirror for all bathrooms
- long bath for master bathrooms in penthouse units
Additional items
- built-in wardrobes for all bedrooms and suite
- wall-mounted air-con for living, dining areas, study, bedrooms and suite
Cabinets with solid surface countertops and a sink with mixer are provided with the kitchen. Appliances provided include a microwave oven, electric stove and hood, refrigerator and washer cum dryer all from Electrolux. In the 2-bedroom unit, the kitchen is backed against the wall and near the entrance.
The living area is just beyond the kitchen area, and extends to the balcony.
The common bedroom can accommodate a queen bed quite comfortably. Residents can also opt for a study cum loft bed option for kids.
A queen bed is ideal for the master bedroom but if you’re willing to sacrifice some leg space, you could probably fit a king bed if you really wanted to.
The bathroom in this unit is accessible from the living area as well as the master bedroom, and can easily accommodate two people at any one time. Fittings are from Duravit and JohnsonSuisse.
The kitchen in the 4-bedroom unit comes with a built-in oven and gas cooker and hob instead.
The living area is right in front of the kitchen and extends to the balcony beyond..
This is the smallest common bedroom in the 4-bedroom unit, accommodating probably only a single bed comfortably.
The other common bedroom can fit a queen bed comfortably with a bit of leg room to spare.
The master bedroom can also accommodate a queen bed.
The common bathroom in the 4-bedroom unit is pretty spacious, though only one person can be in the shower at any time.
The master bathroom is quite similar, except maybe slightly wider.
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.
Location
Etymology: Kovan is actually part of Hougang New Town. It is a suburb in the Northeast region of Singapore. The area is a largely private housing estate, but new condominiums have been coming up over the past few years.
Kovan used to be known as Lark kok jio in Teochew, which means ‘sixth milestone’. This is in reference to an interesting local Chinese tradition of naming a place by ‘milestone’ or li, a Chinese measurement of distance roughly equaling half a kilometre.
Situated north of Serangoon, its boundaries have not been defined by the Urban Redevelopment Authority (URA). Approximations include the intersection at Simon Road to the north, Charlton Road to the south and Hougang Avenue 2 to the east.
The area is currently home to an estimated 26,000 residents.
Source: streetdirectory.com
Getting there: Trilive is located along Tampines Road of District 19. If you’re travelling by train in the mornings, Raffles Place MRT is a 20-minute ride from Kovan MRT. By car, it is a 12-minute drive to town via the Pan-Island Expressway (PIE) and the Central Expressway (CTE), assuming optimal traffic conditions.
Going straight down will lead you to the Kallang-Paya Lebar Expressway (KPE) and from there you could head to Pasir Ris and Tampines or the CBD area if you went in the other direction. Turning left at the next junction will lead you to Hougang and going down on the right means reaching the PIE eventually.
Kovan MRT is a 9-minute walk away. From there, the next stop is Serangoon MRT where you have Nex Mall. One stop in the other direction will have you at Hougang MRT where you have Hougang Mall and the upcoming Hougang Integrated Hub.
The estate: Trilive is situated within minutes’ walk to Kovan MRT. Surrounding the development are more private projects and landed housing.
The nearest bus stop is slightly in front of Trilive, with services 53, 62 and 112. Between them, these services cover Bishan, Ang Mo Kio, Pasir Ris, Aljunied, Punggol, Hougang and Upper Serangoon.
Source: Developer’s brochure
As for school options, there are a few nearby.
International Schools:
- DPS International School
- Australian International School
- Stamford American International School
- Dimensions International College
Heartland Mall is a 10-minute walk away. It is a smaller neighbourhood mall with dining options like Sakae Sushi and supermarket chain Cold Storage. There are also a number of tuition centres on the top floor.
Just outside Heartland Mall, there’s about a 100m stretch of shops ranging from hardware and electrical, to beauty parlours and tuition centres.
At the end of the stretch of shops, you’ll find a 24-hour FairPrice Finest outlet, a preschool and two music schools.
Soccer enthusiasts will enjoy Kovan Sports Centre being across the road from FairPrice. From Trilive, it is a 10-minute walk away.
For hawker fare, residents can head to Kovan 209, just next to Heartland Mall.
Hougang Mall is a 3-minute drive away. The suburban shopping mall houses Cheng San Community Library. NTUC Fairprice is in the basement and education and enrichment centres are available for kids on the 5th level.
NEX Mall is less than a 5-minute drive away. The 7-storey regional suburban shopping mall boasts 19 anchor tenants including Shaw Cinemas and a total of 340 F&B and retail units. It is also connected to Serangoon bus interchange, Serangoon MRT and houses Serangoon Public Library. Various education and enrichment centres are available for kids and dining options are countless.
As for healthcare needs, the upcoming Sengkang General & Community Hospital will be a 10-minute drive away. There are also a number of general and specialist clinics along the stretch outside Heartland Mall itself.
Analysis
Caveated transactions for Trilive at time of writing (Dec 2015) stands at 84. Recorded transaction prices range from $730K to $1.72M (see Chart 1).
Sales Transactions
Source: PropertyGuru, URA
Source: URA
Trilive’s closest competitor would be The Tembusu, located just next to it, along Tampines Road. Launched in August 2013, its median price is $1,546 psf to Trilive’s median of $1,585 psf. Residents at The Tembusu are also likely to be a good mix of owner-occupiers and tenants who like that the project is freehold as well.
Units at The Tembusu range from 1- to 4-bedroom units and penthouse units while Trilive consists of 1-4 bedroom units. To have a clearer picture, we will be looking at 2-bedroom and 3-bedroom Dual Key units in particular, across both developments. According to caveats, Trilive’s 2-bedroom units have a median price of $1,587 psf while The Tembusu’s is $1,551 psf. Transactions for the units at Trilive range from $865K to $908K, and from $1.047M to $1.48M at The Tembusu.
As for the 3-bedroom Dual Key units, they have a median price of $1,518 psf at Trilive, while The Tembusu’s is $1,519 psf. Transactions for the units at Trilive range from $1.313M to $1.433M, and from $1.6M to $2.01M at The Tembusu.
Before deciding based on these numbers alone, we should look at unit sizing as well. Units at The Tembusu are generally larger with the 2-bedroom ones between 753 sqft and 1,023 sqft. At Trilive, they are between 549 sqft and 570 sqft. 3-bedroom Dual Key units are between 1,216 sqft and 1,464 sqft at The Tembusu and between 883 sqft and 904 sqft at Trilive.
Future Rental Potential
To understand what rental prices will be like for Trilive, we need to look at rental prices for other projects in the area.
The current median rental price for projects in District 19 (Serangoon Garden / Hougang / Punggol) and specifically along Tampines Road is around $3.64 psf per month at time of writing, based on rental transactions for the past 4 quarters.
At these rates, a 2-bedroom unit around 550 sqft at Trilive would go for around $2,400 a month, after factoring a 20% premium for its new build. With the median price for the unit being around $872K, the annual gross rental yield at the current rate would be an estimated 3.3%. A 3-bedroom Dual Key unit would probably fetch around $3,900 a month at today’s rental rates. This translates to around 3.5% in annual gross rental yield.
The median unit size of a 2-bedroom unit at The Tembusu, on the other hand, would probably fetch around $3,500 which would translate to an estimated rental yield of 3.5%. A 3-bedroom Dual Key unit would probably go for around $5,600 a month, meaning an estimated 3.6% rental yield.
According to the estimated figures, rental yield for both projects are quite similar. The choice of nearby amenities is pretty much the same, since The Tembusu is right next to Trilive. Unit sizing however differs with units at The Tembusu being larger.
Overall, both projects seem to be safe in terms of rental yield.
Summary
Considering that the project is freehold, Trilive is a relatively more affordable option than some other developments.
Located right in the middle of Serangoon and Hougang, Trilive affords residents increased convenience. With having not one, but two established estates within short driving distance, residents will be able to get anything they need very easily.
They will also enjoy easy access to major expressways and proximity to nearby places like the Kovan eateries, Heartland Mall, Hougang Mall and NEX Mall. For families with children, there are a number of schools ranging from primary level to junior college level, nearby.
Kovan MRT is about a 7-10 minute walk away for those who would prefer to take public transport in the mornings.
Investment potential is high with the project being freehold and within a 15-minute drive from the town and CBD areas.
Trilive is a good option for couples and families looking for a home. With its many Dual Key configurations, multi-generational families are also very likely to like the space.
