The Reserve Residences Condo Review: Location, Price, Investment Analysis

Why Invest in Reserve Residences?

• An established real estate developer with many building industry awards.
• Over 60 facilities spanning several levels (L4 to L6, L12, L17 and L33).
• Proposed retail mix to consist of a Cold Storage supermarket, clinic, F&B, shops, education centre and childcare centre.
• A green living environment - proximity to several nature parks, with unblocked views of the Bukit Timah Nature Reserves.
• URA Master Plan to transform Beauty World into a green urban village, a centre of community life, and a southern gateway into Bukit Timah's nature attractions.
• Development of vibrant and lush streetscapes, as well as park connectors that link to nearby nature parks and conserved heritage sites.
• Excellent transport connectivity – direct link to the Beauty MRT station and proximity to major expressways.
• Convenient access to a plethora of amenities, shopping centres, supermarkets, wet markets, food centres, etc.
• A food paradise, with its varied cuisines from traditional hawker fare to modern fusion dishes that draws people from all over Singapore.
• Near many popular and sought-after schools, as well as higher education institutions.
• Proximity to major employment hubs offers promising investment potential.

Who are the Developers of The Reserve Residences?

The Reserve Residences site was awarded to a consortium consisting of FE Landmark Pte Ltd, FEC Residences Trustee Pte Ltd, and FEC Retail Trustee Pte Ltd on 30 August 2021 under the government land sale (GLS) programme via a dual-envelope tender.

These entities belong to the Far East Organization (FEO) and its Hong Kong-based sister company Sino Group.

Under the tender system, bidders must submit their proposals for both concept and tender prices separately. Firstly, concepts will be evaluated against a set of criteria outlined in the tender, which include the following three categories:

• Quality of design concept.
• Quality of public realm.
• Track record of the developer and design teams.

Only the most compelling concept proposals will move forward to the second stage of evaluation, which focuses solely on price.

Far East Organization – Established in 1960, it is the largest privately held property developers in Singapore. Its business has since expanded to countries such as Hong Kong, Malaysia, and Australia.

Some of its recent developments include One Holland Village Residences, Amber Sea, Parksuites, and The Scotts Tower.

Sino Group - Founded in 1971, it is a leading property developer in Hong Kong and has also ventured into Mainland China, Singapore, and Australia.

Both Far East Organization and Sino Group are renowned for their diverse portfolio of properties ranging from residential, commercial, hotels, and serviced apartments.

They are committed to sustainability, with the incorporation of eco-friendly features in their developments. At the same time, they strive to create innovative and quality properties to provide customers with the best living experience possible.

What are the Prices for The Reserve Residences Condo?

At its sales launch on 27 May 2023, Far East Organisation and joint venture partner Sino Group sold 486 units at The Reserve Residence. With the developer releasing just 587 out of the total of 732 units in the development, this translates to a very strong sales figure of 83% of units released, and 66% of total units, considering the uncertain global economic climate the latest property cooling measures on 27 April 2023.

Prices at The Reserve Residences started from $2,225 psf and hit a high of $2,790 psf for a 1,765 sq ft, 5-Bedroom, sky-terraced apartment. Overall, the average price achieved across all units was $2,450 psf.

Below are the indicative launch prices for The Reserve Residences.

The 32,185 sq m (336,783 sq ft) site was awarded via a dual-envelope tender system for $1.028 billion, which works out to a land rate of $989.4 psf per plot ratio.

Judging from the sale of Lentor Modern which was sold at an average price of $2,122 psf since its launch in September 2022, The Reserve Residences is reasonably priced.

This is because of its more favourable location within an established housing estate surrounded by a plethora of amenities. Whereas Lentor Modern is in a new housing precinct with limited amenities and is further away from the city.

Where Is The Reserve Residences Located?

The Reserve Residences Location.

The Reserve Residences is located at Upper Bukit Timah Road and next to the Bukit Timah Plaza. Towards its north across Jalan Anak Bukit are unblocked views of the Rifle Range Nature Park and Bukit Timah Nature Reserves.

Less than 200m away is the Beauty World MRT station on the Downtown Line, which will be linked by an underpass to The Reserve Residences.

When one mentioned Beauty World, it brings to mind the cluster of shopping complexes built in the late-1970s and early-1980s, which still stand to this day. They are the Beauty World Plaza, Beauty World Centre, Bukit Timah Plaza, and Bukit Timah Shopping Centre.

Beauty World also has an interesting history (more on this below), but has been gradually modernised with the development of new private housing. These include Daintree Residences, Views At Kismis, Forett @ Bukit Timah, and The Linq at Beauty World.

Nevertheless, it still retains an old-world charm that has attracted visitors to its array of eateries, especially along Cheong Chin Nam Road and Chun Tin Street just a couple of hundred metres away.

A Brief & Interesting History of Beauty World

Before the Japanese Occupation in 1942, Beauty World was mainly made up of Kampongs with rubber, mangosteen, and pineapple plantations. However, many of them were destroyed during the war.

During the Japanese Occupation, some local businessmen collaborated with the Japanese to open an amusement park. There were stages for wayang and getai, a dance hall, coffee parlours, a cinema that screened Japanese and old Chinese films, entertainment for children, and food stalls.

There was also a large gambling hall, and it was claimed that the Japanese made use of it to divert people’s attention away from their oppressive rule.

Old Beauty World Market.

After the Japanese surrender in 1945 when the popularity of the amusement park declined and fell into disrepair, permission was sought from the British authorities to convert it into a market. This led to the opening of the Beauty World Market in July 1947.

The marketplace was a hotchpotch of zinc and attap shacks, gambling dens, and stalls selling a wide variety of food items and products. But it was rife with extortion, violence and territorial fights by secret society members.

In 1962, the market expanded with the addition of Beauty World Town. But, it suffered from several bouts of fire, including two major incidents on 20 April 1975 and 7 August 1977.

Due to the traffic, health, fire, electrical and drainage hazards posed by the park, the government acquired the land for redevelopment in 1975. This led to the development of Beauty World Centre, a residential-cum-retail building. When it was completed in January 1984, most of the tenants and shopkeepers resettled there.

A Gateway to Nature Parks and Heritage Sites

The Reserve Residences condo is located close to several nature parks, with most within walking distance. Besides providing a green living environment, they also offer a host of fun outdoor activities for the whole family. For example, they can go for a nature walk, cycling, jogging, or birdwatching.

Some of these nature parks include the following:

• Rifle Range Nature Park.
• Bukit Timah Nature Reserves.
• Hindhede Nature Park.
• Dairy Farm Nature Park.

Some of these parks are connected to the Coast-to-Coast Trail and the Rail Corridor.

The Coast-to-Coast Trail is a 36 km trail that spans across the island from Jurong Lake Gardens in the west to Coney Island Park in the northeast. It is designed to connect parks, nature reserves, and other green spaces.

This will allow hikers to experience its diverse landscapes and cultures across the island as it passes through a range of environments, from urban parks and neighbourhoods to dense forests and mangrove swamps.

The Rail Corridor is a 24 km-long former railway line that runs from Woodlands in the north to Tanjong Pagar Railway Station in the south. It passes through several neighbourhoods and parks, including Queenstown, Bukit Timah, and Kranji.

The green lung is divided into several sections, each with its own unique features and attractions.

Some of the highlights along the Rail Corridor include the former Bukit Timah Railway Station and Railway Staff Quarters. They have been conserved as heritage sites and now feature a heritage gallery where visitors can learn about their history.

There is also a café, as well as new gardens containing plant species such as the hibiscus, peacock flower and jasmine found in the 1960s in kampungs around them.

URA Master Plan for Beauty World

Lush and Vibrant Streetscape

Under the URA Master Plan for Beauty World, besides the development of The Reserve Residences as part of an integrated transport hub comprising residential and commercial components, it will also seek to rejuvenate the precinct with the following:

• Build a one-stop integrated facility housing a community club, indoor sports hall, community library and elderly facility.
• Design public spaces and pedestrian networks that are well integrated with transport and community nodes.
• Create more green spaces, parks, and lush streetscapes that will provide opportunities for recreation, relaxation, and social interaction.
• Undertake sustainability and environmental protection efforts in all aspects of the development of Beauty World.

Potential En Bloc Redevelopments to Boost Property Values

There are four shopping centres in Beauty World that were built in the late 1970s and early 1980s - Bukit Timah Shopping Centre, Bukit Timah Plaza, Beauty World Shopping Centre, and Beauty World Plaza.

As they are quite dated, they are primed for future redevelopment as the ongoing transformation of the precinct gathers pace. In fact, the Beauty World Plaza has attempted an en bloc sale in 2018, and again the following year, but without success.

Given that all four shopping malls are sitting on land zoned residential with commercial, which is more valuable than land zoned purely residential, more en bloc attempts can be expected in the future.

If they succeed, they will add to the transformation of Beauty World, making it an even more vibrant and bustling locality.

In addition, they will likely set new benchmarks, which will uplift property values in The Reserve Residences and surrounding developments.

Excellent Transport Connectivity

Beauty World MRT station.

Being an integrated development with direct links to the Beauty World MRT station on the Downtown Line and bus interchange, residents of The Reserve Residences will enjoy seamless bus-rail transfer.

Transport connectivity will be further enhanced when all three phases of the Cross Island Line (CRL) are completed.

The CRL is Singapore’s eighth and longest fully underground MRT line at more than 50 kilometres long.

It will serve existing and future developments in the eastern, north-eastern and western corridors, linking major hubs such as Jurong Lake District, Punggol Digital District and Changi.

• Phase 1: Comprising 12 stations from Aviation Park in Changi to Bright Hill in Sin Ming, it will open by 2030.
• Phase 2: Comprising 6 stations from Turf City, King Albert Park, Maju, Clementi, West Coast and Jurong Lake District, it will commence operation in 2032.
• Phase 3: Consisting of 4 stations between Jurong and Tuas, it is estimated to be completed by end-2023. However, no concrete details have been announced yet.

MRT Interchanges Near The Reserve Residences Condo

With the extensive MRT network, residents will enjoy a fast and comfortable commute around Singapore. Moreover, the Downtown Line will take residents directly into Downtown Singapore such as Bugis and Marina Bay.

There are also several MRT interchanges near The Reserve Residences condo, and they include the following:

• King Albert Park (Downtown and Cross Island Lines) – 1 stop
• Botanic Gardens (Downtown and Circle Lines) – 4 stops
• Stevens (Downtown and Thomson-East Coast Lines) – 5 stops
• Newton (Downtown and North-South Lines) – 6 stops
• Bukit Panjang (Downtown and LRT Lines) – 4 stops

Major Expressways Nearby

For those who drive, The Reserves Residences is located close to the Pan Island Expressway (PIE), which seamlessly connects to the Bukit Timah Expressway (BKE).

This provides great convenience for those working in the Woodland Regional Centre, which is poised to become the largest economic hub in Singapore’s North region. It is just 20 minutes drive away.

Travelling southward, the Ayer Rajah Expressway is only 15-20 minutes away via Clementi Road. This will greatly benefit those working or studying at the National University of Singapore (NUS) which is situated along it. Further south will be the Greater Southern Waterfront.

Meanwhile, a drive to Orchard Road only takes 16 minutes.

Shopping Malls & Amenities Around The Reserve Residences

There are four shopping malls in Beauty World that have served the area since the late 1970s to early 1980s. They are Beauty World Centre, Beauty World Plaza, Bukit Timah Shopping Centre, and Bukit Timah Plaza.

Slightly further up towards Hillview is the Rail Mall.

These shopping malls are popular with residents staying in the nearby housing estates due to the eclectic mix of goods and services they offer. These include shops selling traditional jewellery, Chinese medicines, and toys. For services, you can find barber and beauty salons, old tailors, interior design firms, and maid agencies.

Other than those above, there are also tuition and enrichment centres, banks, and supermarkets, which include a 24-hour NTUC Finest at Bukit Timah Plaza.

A Food Paradise In Beauty World

Beauty World is a mini food paradise due to its many eateries and restaurants along the shophouses at Cheong Chin Nam Road and Chun Tin Road. Some of them stay open till the wee hours of the morning, offering relief for those looking for a supper fix.

Cheong Chin Nam Road and Chun Tin Road are just a few hundred metres from The Reserve Residences. Hence, residents will have no lack of food options. Some of the popular ones include the following:

• Boon Tong Kee Chicken Rice – Long known for its chicken rice, it has expanded to include many zi-char (stir-fry) dishes. These include stir-fried vegetables, tiger prawns in seafood sauces, and deep-fried yam ring with seafood.
• Mongkok Dim Sum – It serves delectable yet affordable Chinese and Cantonese cuisine. An ideal place for families and friends to share and enjoy a variety of dim sum favourites, such as steamed rice rolls with shrimp, custard buns, spinach and shrimp dumpling, gula melaka steamed cake, and a lot more.
• Joo Seng Teochew Porridge - It serves porridge with tantalising Chinese dishes. These include braised tau pok, steamed fish, braised duck, black bean minced meat, tau kwa, and braised preserved vegetable.
• Al-Ameen Eating House – An Indian restaurant selling roti prata, channa masala, Indian curry, chicken biryani, maggie goreng, and tom yam soup. For drinks, they offer smoothies, lassi, soda, milkshakes, and fruit juices.
• Al-Azhar Eating Restaurant – A 24-hour restaurant selling a variety of food from Local, Thai, Indian, Western and Mediterranean. During lunch, it also sells Malay nasi padang dishes that run out very fast.

Other Food Options

Other than the above, there are also many restaurants offering a wide range of cuisines ranging from Chinese, Thai, Korean, Western, and more.

Perhaps, one of the most well-known is Ng Kim Lee Confectionery which sells traditional Teochew-style pastries and Western cakes.

Visitors to the area cannot miss its large and traditional signboard. It has been in business for more than 60 years. Some of their favourite offerings are pandan cake, cheesecake, egg tarts, muffins, yam cake and zebra cake. They also sell traditional pastries like husband/wife biscuits and pineapple tarts.

Schools and Tertiary Institutions Near The Reserve Residences

Perhaps, one of the most important appeal of The Reserve Residences is its proximity to a plethora of popular schools and tertiary institutions.

According to a study by the NUS Institute of Real Estate Studies, it is found that residential properties near schools command a large premium over those further away.

This is unsurprising because the shorter commute to places of study daily will translate into a better quality of life for everyone in the family. With the time saved on travelling, the whole family will have more resting time.

Primary Schools

Due to the Ministry of Education’s distance-based allocation system for Primary 1 admission, priority will be given to those living within a 2 km radius of the school. In this respect, The Reserve Residences will appeal to families with young children because it has two very popular schools within a 1km radius. They are:

• Pei Hwa Presbyterian Primary School.
• Methodist Girls’ School (Primary).

Secondary Schools and Junior Colleges

For older children, they will have convenient access to many highly sought-after secondary schools and Junior Colleges along Bukit Timah and Dunearn Road. Most of them can be reached via the Downtown MRT Line or between 4-9 minutes drive from The Reserve Residences.

• These include the following:
• Methodist Girls’ School (Secondary).
• Nanyang Girls’ High School.
• Singapore Chinese Girls’ School.
• Hwa Chong Institution.
• National Junior College.

Tertiary Institutions

There are also several tertiary institutions near The Reserve Residences, with most less than 2km away. They are:

• Ngee Ann Polytechnic (NP) ~1.6km.
• Singapore University of Social Sciences (SUSS) ~1.7km.
• SIM Global Education ~1.4km.
• Singapore Polytechnic ~4.0km.
• National University of Singapore (NUS) ~6.5km.