City Suites is a 56-unit freehold development on Balestier Road by Singapore-listed international property developer SingHaiyi Group. What is unique about the project is that it has a wide range of one-bedroom units, which are sought-after by investors. The project is expected to obtain its Temporary Occupation Permit (TOP) in 3Q2017, which means that buyers will be able to enjoy rental income almost immediately.
The one-bedroom units come with fully fitted kitchen appliances and cabinetry, bathroom accessories, as well as a built-in wardrobe. Unit sizes range from 452 to 527 sq ft. Assuming an average selling price of $1,800 psf and a monthly rent of $2,500, investors can achieve a gross rental yield of 3.1% to 3.7%.
The developer has put a lot of thought into the design of City Suites All the units are north-south facing and have 3.3m ceiling height. There are also four duplex penthouses with double-volume ceiling height and a loft-like bedroom. The duplex penthouses range from 925 to 1,120 sq ft. Underground parking is also available for residents.
Panoramic view from a high-floor unit at City Suites
|Developer||Corporate Residence Pte Ltd|
|Location||235 Balestier Road, Singapore 329699|
|Description||1 Block of 17 -Storey|
|Site Area||1057.60 sqm I 11 ,384 sq ft|
|Typical Ceiling height||
|Expected TOP||TOP obtained in Aug 2017|
|Account Number||HONG LEONG FINANCE UMITED FOR PROJECT NC NO. 101-3003752-1 OF CORPORATE RESIDENCE PTE LTD|
STRONG TRACK RECORD
SingHaiyi Group has successfully developed and fully sold a wide range of residential property developments in Singapore. They range from Charlton Residences, a 21-unit cluster housing development off Upper Serangoon Road, to the 514-unit CityLife@Tampines executive condominium (EC). Both projects were developed jointly with other parties.
SingHaiyi also developed and fully sold the 517-unit The Vales EC, which obtained its TOP in May. More than 300 units at The Vales have already been handed over to the owners, who are pleased with the quality of the finishing provided. The owners will also enjoy energy efficiency, as The Vales has been awarded one of the highest accolades in sustainable design — a GoldPlus rating under the Building and Construction Authority’s Green Building Awards.
Currently, SingHaiyi is involved in the redevelopment of 9 Penang Road, formerly known as Park Mall, a high-end furniture mall that is being repositioned as a new twin-tower Grade-A office development in the prime Orchard Road neighbourhood. The project is within a short walk from the Dhoby Ghaut MRT interchange station.