The regions surrounding three young MRT stations (details of which were released this month) might be quiet at the moment for Sustained Land Condo, but this is predicted to change very soon.
The opportunities for redevelopment are abundant around the Keppel, Cantonment, and Prince Edward stations. This triumvirate of Sturdee Road SL Capital Condo projects represents the sixth phase of the Circle Line development, which is scheduled to be finished in 2025.
The Keppel station will be located at Keppel Road, close to Keppel Distripark and Keppel Terminal. The Cantonment station will be combined with the much older Tanjong Pagar station and the Prince Edward project will be located at one side of Shenton Way, close to Palmer Road.
Sturdee Road Condo MRT
Aside from the Cantonment location in Sturdee Road Condo Boon Keng (which is classified as commercial), the other locations are classified as reserve sites, in line with the Urban Redevelopment Authority.
This means that the URA has quite a lot of influence over the Sturdee Road Condo Farrer Road locations.
As Cantonment is designed to be an expansion of an older site, potential plans include an innovative railway mall connection, with a clear emphasis on leisure and refreshments. It might also be used as a location for social and cultural events, as a way to maximise the historic nature of the area.
No matter what the outcome, plenty of Bendemeer Road Condo SL Capital MRT users and residents will need to live close by if the projects are to be a total success.
Sturdee Road SL Capital Condo Location
This is particularly true for sparse regions like that around the Keppel station in Sturdee Road Condo. As it is set to become a gateway to the Southern Waterfront City, it needs a lot more residential development. It also needs more commercial projects and ventures which will attract new residents and homeowners.
At the moment, there are hardly any residential developments in the region, being as it is in the middle of an extensive redevelopment space for Sustained Land Condo. This space will all be managed by the Government Land Sales (GLS) scheme when the Keppel Docklands residents relocate.
Thus far, no GLS locations which have been verified are anywhere close to the stations. However, a number of dual development projects might be added to the list in the near future.
Then again, in light of the vast supply of office space set to be available from 2015-2016, it is going to be hard to get developers interested in office based projects.
One possible solution is for the Sturdee Road Condo Farrer Road state to gradually release the Marina Bay reclamation spots for future projects.
Bendemeer Road Condo SL Capital
The planned stations will likely bring good fortune (in the long term) for any buildings close by.
From a residential perspective, these buildings include Spottiswoode 18, Spottiswoode Residences, the Beacon and HDB estate in Spottiswoode park (close to Cantonment station), 76 Shenton (finished in 2014), and the Lumiere (close to Prince Edward station).
The nearest condos to Keppel station are the Pearl@Mount Faber and the Mount Faber Lodge.
From 2014 until now, sales movements within these three locations have been fairly slow, as a result of the total debt servicing ratio. Plus, the locations are not similar to your average public housing areas.
The Farrer Road Condo Sturdee Road condo prices for Spottiswoode dropped by around 5% in 2014 and a further 3% in 2015. The prices for Lumiere dropped by 8% in 2014 and an extra 5% in 2015.
Within the Mount Faber region, Bendemeer Road Condo SL Capital prices dipped by 7% in 2014 and 5% in 2015.
However, these prices are expected to climb again after the station redevelopments come to a close.
Within the Cantonment region, office projects like the Southpoint will eventually be linked by two of the MRT stations (Cantonment and Tanjong Pagar). The Boutique Hotel close by will also benefit from these new connections.