Allgreen Properties to launch first major project of 2019

Romesh NavaratnarajahJanuary 4, 2019

Aerial view of Fourth Avenue Residences crop

Artist’s impression of Fourth Avenue Residences and the surrounding GCB area. (Photo: Allgreen Properties)

On Saturday (5 Jan), developer Allgreen Properties is set to preview Fourth Avenue Residences, an ultra-luxury condominium in prime District 10 that is slated to be the first major project launch in 2019.

Situated within a Good Class Bungalow (GCB) area in the heart of Bukit Timah, the 99-year leasehold development will be linked to the adjacent Sixth Avenue MRT station via a covered linkway.

Aside from being close to The Grandstand mall, the project is also within proximity to several established schools such as Nanyang Primary School, Hwa Chong Institution and National Junior College.

Fourth Avenue Residences will comprise 476 residential units spread across nine low-rise blocks. Buyers can choose from six different layouts ranging from one-bedroom to 4-bedroom + study units from 474 sq ft to 1,496 sq ft.

Many of the buyers are expected to be existing residents of Bukit Timah as well as wealthy millennials, with indicative prices ranging from about $1.05 million to $3.38 million.

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Around 68 percent of the units are one- and two-bedders in a bid to tap on the demand for smaller homes, following the government’s restriction on the number of shoebox units that can be developed outside the Central Region.

Fourth Avenue Residences will also feature many facilities. These include a Sky Pavilion where residents can view the surrounding GCB area and Bukit Timah Hill, a 50m lap pool, kids’ pool, Jacuzzi pod, water court and tennis court. There will also be green features like a grand lawn, a floating garden and a Bosque garden.

Allgreen Properties clinched the 199,479 sq ft site in December 2017 after submitting the highest bid of $552.96 million, which works out to about $1,540 psf based on its gross floor area of 359,062.5 sq ft.

Marketed by Knight Frank, Huttons Asia and ERA Realty, Fourth Avenue Residences is expected to be completed by end-2022.

Meanwhile, Allgreen Properties has two other upcoming projects in the Bukit Timah area. These are located on the freehold sites of Royalville and Crystal Tower, which were both acquired via en bloc sale for $477.94 million ($1,960 psf ppr) and $180.65 million ($1,840 psf ppr) respectively in December 2017.

Read our Step-by-Step Guide to buying a condo

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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