Piccadilly Grand @ Farrer Park

The site was introduced in June 2020 by the Urban Redevelopment Authority (URA) as one of the 3 confirmed sites for the Government Land Sales (GLS) Programme for the 2^nd half of 2020. It has total land size of approximately 0.73 hectares and a gross plot ratio of 4.2. Upon completion, this development will yield an estimate of 385 housing units with approximately 1,500 square metres of commercial spaces.

Other developments that are within Piccadilly Grand’s vicinity include Uptown @ Farrer, 1953 @ Balestier,8 Farrer Suites, Sturdee Residences, City Square Residences, the Citron and Citron Residences and Kerrisdale.

The land plot was the first tender for the Government Land Sale in 2021 and the tender was closed in the end of April 2021. A total of 10 interested parties had submitted their interests for bidding this land.  The robust bidding prices had displayed the hunger for developers to replenish their depleting land banks.  Eventually, the Maximus Residential was emerged as the winner. This company is a joint venture between 2 of Singapore’s heavy weight real estate developers, i.e MCL Land and City Developments Limited. The winning price was at $445.89 million which worked out to be $1,129 per square foot per plot ratio. The 2^nd highest bidder was Winnirch Investment which submitted a bid of $421.89 million. This was translated to $1,069 per square foot per plot ratio which was 5.7% lower than the winning bid. The lowest bid was submitted by Japura Development which was at $256 million, 74% lower than the 2^nd highest bid. The winning bid was also approximately 10% than the land parcel at Permual Road, currently Uptown at Farrer, which was translated at $1,001 per square feet per plot ratio back in 2017.

About the Developer

City Developments Ltd is a front running international property firm that has a network which spans over 29 regions and countries in across 112 locations. The Group is listed on the Stock Exchange of Singapore and is one of the biggest listed companies in terms of market capitalization. Its geographically-diverse and income-stable portfolio includes integrated developments, retail malls, serviced apartments, hotels, offices and private residences.

The group has more than 55 years of proven credentials in the real estate management, investment and development segments. Till date, the group has built more than 47,000 residences and also has ownership in more than 23 million square feet of hospitality, commercial and residential assets all over the globe in terms of gross floor area.  It also has more than 3.5 million square feet in terms of land size in its internationally diverse land bank.  Some of CDL’s current private residential projects include Irwell Hill Residences, Amber Park, Haus On Handy and Sengkang Grand Residences.

MCL Land is a front running real estate developing company in Singapore. The company has consistently involving in innovations to pursue excellence and also has its dedication to deliver great customer satisfactions. The company has constantly refining their ideas in order to revolve them into smart and practical home solutions. The company’s belief is also to create values that are long-term to its home owners via spaces that allow them to be connected with their family members as well as people that are living and playing within same community.

For more than 50 years, the company has its establishment of its legacy in terms of building quality products in both Malaysia and Singapore. Some of the company’s past projects include Leedon Green, Parc Esta and Margaret Ville.

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The MRT North East Line is a hi-capacity MRT Service Line. Though it is the shortest, which is approximately 19 kilometres in length, it is also one of the most important service in Singapore especially for residents living in the populated North East Region. This MRT Service Line has a total of 16 MRT Station and it operates from the Punggol estate that is in the North East and ends in South West’s Harbourfront. This MRT Service line provides accessibility from different parks of the North East direct to the downtown core o the island. The line starts running from Punggol, then heads down to Sengkang Central and then to Hougang Avenue 5. At Hougang MRT Station, it cures south to run along Upper Serangoon to the Kovan and Potong Pasir estates. It is then heads down to Boon Keng, Little India at Race Course Roadand then to the Dhoby Ghaut MRT Interchange Station which is also a major transport hub. It then pass below Fort Canning and Singapore River to arrive at the Clarke Quay MRT Station and reaching the Chinatown MRT Interchange Station as well as the Outram Park MRT Interchange Station which is another major MRT Interchange hub before it terminates at the Harbourfront MRT Interchange Station.

For future residents of they just need to travel 1 MRT station toward the Harbourfront MRT Interchange Station to arrive at the Little India MRT Interchange Station which also operates the MRT Downtown Line. The Dhoby Ghaut MRT Interchange Station is also just 2 MRT stations away from Farrer Park MRT Station in the same direction where the MRT Circle Line and the MRT North South Line is readily available.

For drivers, the development is just approximately 8 minutes of driving away from the Orchard Shopping Belt. For those who work in the Central Business District, they just need approximately 10 minutes of driving to arrive at their offices. Piccadilly Grand is also very close to the Central Expressway which can be easily access via the nearby Balestier Road.

Amenities
There is basically no lack of amenities when living in Piccadilly Grand. There are many shopping malls that are just short radius away from the development. Future residents will be able to get different dining and shopping experiences without the need to travel far from their homes. Some of the nearby shopping malls include Mustafa Centre, City Square Mall, The Verge, Sim Lim Square, Albert Complex, United Square Shopping Mall, Bugis Village, Bugis+, Pomo Centre and Novena Square.

The City Square Mall is situated in the intersection of the Kitchener Road and the Serangoon Road. It is sitting on the site that had previously belong to the New World Amusement Park, which is one of Singapore’s most historical and prominent landmark between the 1920s up to the 1960s.. it is close distance to one of Singapore most visited heritage and tourist attractions, the Little India and is connected direct via an underground pedestrian way to the Farrar Park MRT Station. The shopping mall has more than 450,000 square feet of lettable spaces that spread over its 5 above ground retail storeys and 2 basement levels. It has 4 storeys that offers lifestyle services and has approximately 200 retail shops that will offer the lifestyle needs of the middle income families. This vibrant mall offers an eclectic mix of services and merchandize that are economical and useful to many. From time to time, it also holds street fare, international cuisine as well as promotional activities. This retail mall is anticipated to be the mini town centre that offers the ideal backdrop for communities to shop, meet and play and at the same able to acquire learning experience that is eco-friendly.

The Mustafa Centre provides shoppers with 24 hours round the clock unique retail experiences in terms of market style in Singapore. Shoppers will be able to look for abundance designer goods in very reasonable low prices from electronics to watches and textiles on sale. This vibrant retail mall comprises of 2 departmental stores and has its merchandize being sold under the label of Mustafa and categorized by type. The jewellery department will be on of its main attractions. This is where gold jewellery can be found without the heavy price tag. This mall is also an excellent location to pick up gifts that are asia-inspired. The good buys are also accessories that majority are hand-crafted and produce with diverse ethnicity touches that range from costume jewellery to bags that are not easily found elsewhere in Singapore.

Future residents will also be spoilt for choices being able to explore the different food centres that are just proximity away. They include Tekka Market and Food Centre, Pek Kio Market and Food Centre, Berseh Food Centre, Albert Centre Market and Food Centre, Whampoa Makan Place & Market, North Bridge Road Market and Food Centre, Newton Food Centre, Blk 29 Bendemeer Market and Food Centre and Golden Mile Food Centre.

Schools
For families with school-going children, their worry about the kids’ education needs will be the last on their minds when living in Piccadilly Grand as there are numerous education institutions which are proximity to the development. Some of the local schools nearby include Farrer Park Primary School, St. Margaret’s Primary School, St. Joseph’s Institution Junior School, Hong Wen Primary School, Anglo Chinese Junior School, Balestier Hill Primary School, Bendemeer Primary School, School Of The Arts, Singapore, Bendemeer Secondary School and Nanyang Academy of Fine Arts.

The development will also be appeal for investors as it is also near to international schools such as Insworld Institute, Italian Supplementary School, Chatsworth International School (Orchard Campus), and Swedish Supplementary Education School.

To summarize,
1. Strategic Location – Piccadilly Grand is located in the prime city fringe.
2. Convenient – It is just atop of the MRT station.
3. Amenities – It is close to many shopping malls and food centres.
4. Family Living – It is located near many education facilities.
5. Potential Return – its location has seen good returns in the recent years.