The Atelier is an upcoming 120-unit freehold luxury apartment in District 9, located within touching distance to the Newton MRT station as well as several reputable schools.
Continue Reading ⋅ 5 April 2021
Koh Brothers Development Pte Ltd is a well-established and respected construction, property development and specialist engineering solutions provider, noted for its lifestyle and theme developments throughout Singapore.
Heeton Homes Pte Ltd is a niche property developer, who aims to deliver distinctive homes. It has a track record of creating stylish and distinctive developments in prime locations in Singapore, South East Asia and Europe.
Project Name: Westwood Residences
Address: Westwood Avenue
Type: Executive Condominium
Site area: Approx. 187,000 sqft
Tenure: 99 years
District: 22
Configuration: 480 units
Unit types:
28 x 2 bedroom units (689 – 765 sqft)
62 x 3 bedroom units (948 – 991 sqft)
168 x 3 bedroom premium units (1034 sqft)
98 x 4 bedroom units (1152 – 1195 sqft)
96 x 4 bedroom premium units (1238 – 1281 sqft)
28 x 5 bedroom units (1475 – 1518 sqft)
Maintenance fees: Estimated $290 – $390 per unit
Parking lots: 480 + 4 Handicap Lots + visitor lots. Approximately 70% of lots are in the basement
Expected legal completion: August 2018 or earlier
Project Details
Westwood Residences is Singapore’s first bike-themed residence, but that only tells half of the story. Consisting of 9 unblocked towers, each of 14-storeys the project has a total of 480 units, ranging from 2 bed up to 5 bed properties. The 2, 3 and 4 bed units also come in premium versions which provide extra square footage as well as additional washing and toilet facilities and master bedroom balconies.
Initial sales have been encouraging, and at the time of writing (Oct 2015) more than 160 units have been sold, with all types still available.
Construction is underway and ahead of progress, and the completion date is likely to be ahead of the proposed finish date of August 2018.
The show flats are on-site, so interested parties are encouraged to head down to Westwood Terrace to take a look for themselves.
The bike theme has been carried throughout the whole development, and it certainly makes for a unique, dynamic development. The mini velodrome (30m x 15m) is the star of the show, but it isn’t the only attraction this has to offer. The development features a kid’s traffic garden, which allows youngsters to get to grip with cycling on a safe road environment. There is also a children’s BMX adventure park, a covered bike maintenance area, and when you’ve had enough cycling for one day, there is a secure bike garage to keep them in, complete with biometric sensors.
It’s not all about 2 wheels though. Other facilities include:
- 50 m lap pool
- Aqua gym
- Spa seats
- Kids pool
- Kids playground
- Indoor and outdoor gym
- Club house with function room
- Outdoor hot plate and grill
- Tennis court/half basketball court/futsal court
- Flowering garden
- Secret garden!
The show flats are available for the 3 bed premium and the 4 bed premium, and the photos for this review are from those units.
Specifications:
Flooring
- Tiles in living and dining room, kitchen, bathrooms, HS, W.C., laundry/yard, private enclosed space (PES), private roof garden
- Laminated floorboards in all bedrooms
Doors
- Approved fire-rated timber door for main entrance
- Aluminium sliding door with glass for living room, dining room, PES
- Timber swing door for bedrooms and bathrooms
- Aluminium and/or timber glass sliding and/or glass swing door for kitchen and laundry/yard
- Aluminium and or PVC folding door for W.C.
Sanitary Fittings
- Bathrooms come with separate shower cubicle with shower mixer set, wash basin with basin mixer, water closet, towel rail and/or towel hook, toilet roll holder, mirror
- Separate W.C.’s come with hand shower set (cold inlet only), wash basin and tap, water closet and toilet roll holder
Additional Items
- Built-in wardrobe provided in all bedrooms
- Wall-mounted air-conditioning system in living room, dining room and bedrooms where applicable
- All apartments equipped with wiring and cable ready for internet connection
- High end European fittings in kitchens and bathrooms
Bathrooms have a wet and dry area, and are equipped with storage above and below the wash basin, and mirror (open in this photograph).
Kitchens come with a gas hob with hood and built-in oven, stainless steel sink and TEKA fridge freezer. The above photo shows the 3 bed premium kitchen, the one below shows the roomier one for the 4 bed premium. Both types come with plenty of storage including a clever corner unit ensuring no space is wasted.
The yard laundry area is separate from the kitchen and comes with a motorised clothes hanger.
The master bedroom in the 4 bed premium is easily big enough for a queen sized bed, without compromising the rest of the living space. These come with en-suite and balcony.
The second bedroom in the 3 bed premium is easily big enough for a double bed, though a single wouldn’t look lost in the space, and would provide room for a desk, while the third bedroom can accommodate a single or even bunk bed (pictured but not provided).
All units feature a combined dining/living area, leaving it to the individual how they would like to differentiate between the two.
Location
One of the three regional centres identified and developed by the government to create self-sufficient centres away from the traditional business heartland of the island, Jurong, in the shape of Jurong Gateway is set to become the biggest business area after the CBD, and is being dubbed the CBD of the west. But that isn’t all. The plans are set to make this area into one of the most prime locations in terms of retail, leisure and dining anywhere on the island. In total, 500,000 sqm of commercial space & 250,000 sqm of retail, dining and entertainment space are to be developed over the next few years. No wonder the likes of Google are queuing up to have their offices there.
Extensive new transport links will mean that it will take a matter of minutes to reach the traditional CBD, and all other areas in Singapore, as well as Malaysia with the proposed high speed rail link.
The aim of the regional centres is to provide residents with everything they need – work, education, retail, leisure as well as other essential amenities. And Jurong has them in spades. If Water sports, birdlife, and leisurely walks in beautiful, tranquil gardens are your thing, Jurong has those too.
Source: Developer’s brochure
Getting there and away: Car drivers can be on the PIE, AYE, KJE and the BKE within 10 minutes. Journeys into the city will typically take 30 to 55 minutes depending on traffic. The nearest MRT’s (approximately 2 km away – a 4 minute drive or 4 stops on the bus) are Boon Lay and Pioneer, both on the East West line. This will get you into Raffles Place in 36 minutes).
The new Jurong Region Line (JRL) will make connectivity easier and quicker, both within the region as well as connecting to the existing rail networks. This is to be completed by 2025. Though the site of the stations hasn’t yet been announced, it is highly likely one will be close to the Westwood Residences.
The High Speed Rail link between Singapore and Kuala Lumpur will run from its terminus in Jurong East, meaning the journey time to KL will be 90 minutes.
The area is served by several bus routes, the nearest stops being a 5 minute walk from the residences.
No report on transport facilities for Westwood Residences would be complete without mentioning cycling. The Round Island Route is right on Westwood’s doorstep, giving you every opportunity to explore the island at your leisure, getting fit along the way.
The Area: Surrounded by stylish 3 storey landed residences on 3 sides and another executive condo – Floravale – on the 4th, the residences sits in a laid back, residential setting.
Westwood Primary
Westgrove Primary
Corporation Primary
Xingnam Primary
Pioneer Primary/Secondary
Westwood Secondary
Jurong West Secondary
River Valley High
Jurong Junior College
National Institute of Education (NIE)
Nanyang Technological University (NTU)
You have many options when it comes to retail and dining. These are going to be expanded tenfold when the new lake development is completed, but until then, most of your culinary and shopping requirements should be fulfilled by the immediate area, with several more a short drive away.
5 – 10 minutes’ walk from Westwood is the newly refurbished Gek Poh shopping centre. This has several eateries, including Subway, KFC, McDonalds, Gongcha, as well as a bakery and Prime Supermarket.
Slightly further is the Pioneer mall, another neighbourhood mall, offering a Giant supermarket, fast food restaurants, a food court and beauty salon.
Moving upmarket, Jurong Point Shopping Mall is a short drive or bus ride away (2.5km). With over 450 stores ranging from sports, banks, jewellers, electronics, pet clinics and department stores, as well as a good variety of eateries, this modern feeling mall will fill any gaps left by the two smaller centres without necessitating a longer journey. As an added bonus, it has its own Golden Village Cinema complex.
Analysis
Caveated transactions for Westwood Residences at time of writing stands at 169. Recorded transaction prices range from $560K to $1.221M (see Chart 1).
Sales Transactions
Source: URA, PropertyGuru
Source: URA
Westwood Residences’ closest competitor would be Lake Life, located along Tao Ching Road, a 5-minute drive away. Launched in October 2014, its median price is $870 psf to Westwood Residences’ median of $803 psf.
Residents at both projects are likely to be home buyers with them being ECs. With the upcoming transformation of the Jurong district, property prices in the vicinity are bound to rise. Units at Westwood Residences and Lake Life both range from 2-5 bedroom units with Lake Life having the additional penthouse units.
To have a clearer picture, we will be looking at 3-bedroom units in particular, across both developments. According to caveats, Westwood Residences’ 3-bedroom units have a median price of $750 psf while Lake Life’s is $862 psf. Transactions for the units at Westwood Residences range from $682K to $770K, and from $838K to $999K at Lake Life.
Before deciding based on these numbers alone, we should look at unit sizing as well. Units at Lake Life are generally larger with the 3-bedroom units between 1,023 sqft and 1,119 sqft. At Westwood Residences, they are between 948 sqft and 991 sqft.
In terms of simple sale prices, Westwood Residences seems more wallet-friendly.
Future Rental Potential
Since Westwood Residences is an EC, initial buyer eligibility and sale restrictions are only lifted completely, 10 years after the project completion. However, past EC resale transactions have shown significant capital appreciations and this can only bode well for future rental potential.
To understand what rental prices will be like for Westwood Residences, we need to look at rental prices for other projects in the area. The current median rental price for projects in District 22 (Jurong) is around $3.05 psf per month at time of writing, based on rental transactions for the past 4 quarters.
At these rates, a 3-bedroom unit around 970 sqft at Westwood Residences would go for around $2,900 to $3,100 a month. With the median price for the unit being around $710K, the annual gross rental yield at the current rate would be an estimated 5.1%.
The median unit size of a 3-bedroom at Lake Life, on the other hand, would probably fetch around $3,300 a month at today’s rental rates. This translates to around 4.2% in annual gross rental yield.
According to the estimated figures, rental yield for Westwood Residences is slightly higher. The choice of nearby amenities differs since there is a distance between both developments. Unit sizing is varied too with units at Lake Life being generally larger.
Overall however, rental yield for both projects are pretty decent.
Summary
Westwood Residences is a stylish EC development in a very much up and coming area of the island. Over the coming years, there will be massive development in the region, bringing in a lot of middle to high-level jobs, and the infrastructure, shopping and dining that comes with it. The lakeside development really will be a fantastic destination for everyone from couples to families.
There are plenty of well-respected education facilities from primary upwards, including River Valley High School and Nanyang Technological University. Though the region is slightly distanced from the city centre, transport links are good, so you are never more than an hour from the CBD, half that in off peak times, and on the MRT.
The whole area has a relaxed, community feeling about it that is missing from the Bay Area.
Buying an apartment at Westwood Residences would be a sound investment, as non-executive condos in the area are being sold at a premium – an indication of the general feeling that this is a place that is definitely on the up. Though there is no such thing as a risk free investment, purchasers can feel confident that in 5 years’ time, should they wish to make a move, the value of the property would have increased significantly, regardless of the artificially low starting point.
