- Watten House Condo's 10 Unique Selling Points
- Watten House Fact Sheet
- Unit Mix
- Who are the Developers of Watten House Condo
- What are the Prices for Watten House?
- Where is Watten House Located?
- Watten House Enjoys Excellent Transport Connectivity
- Shopping Centres and Amenities near Watten House
- Popular Food Places Near Watten House
- Nature Parks Near Watten House Condo
- Bukit Timah-Rochor Green Corridor
- Schools Near Watten House
- Conclusion: An Investment Perspective
- Review of Other Upcoming Property Launches
This is a review of Watten House, a luxurious freehold condominium at Bukit Timah in Singapore’s prime District 11. It is just 7 minutes walk from the Tan Kah Kee MRT station on the Downtown Line. The site was formerly occupied by the Watten Estate Condominium which was acquired via en bloc by a joint venture between UOL Group and Singapore Land Group in an 80:20 split.
The joint venture company, named United Venture Development (Watten) Pte Ltd, plans to develop 180 residential units of 3- to 5-bedrooms with large-format layouts spread over eight low-rise five-storey blocks on elevated grounds.
The development will also be designed in a mansion style similar to Meyerhouse but with a strong Asian design influence and flavour. In addition, each of the eight residential blocks will feature a penthouse.
This review of Watten House seeks to offer an unbiased evaluation of the following:
Watten House Condo's 10 Unique Selling Points
- Located in prime District 11 and within an exclusive low-rise private residential enclave.
- Jointly developed by UOL Group and Singapore Land Group, known for their luxurious “masterpiece” developments that feature an abundance of water features and landscaping.
- A low-density development with spacious large-format units on a vast 20,461.10 sqm of land, and right next to a neighbourhood park
- Excellent transport connectivity, with Tan Kah Kee MRT station (Downtown Line) just 7 minutes walk away.
- A short train ride to the Novena and Orchard Road shopping belt.
- Convenient access to a plethora of amenities such as shopping malls, popular food places, supermarkets, and banking services.
- Near places of interest like Singapore Botanic Gardens, Rail Corridor and several nature parks such as the Rifle Range Nature Park and Bukit Timah Nature Reserves.
- Development of Bukit-Timah Green Corridor to further enhance living environment.
- Close to many highly sought-after schools.
- Proximity to major business districts such as One-North and Central Business District.
Watten House Fact Sheet
|Name of Development||Watten House|
|Development Type||Proposed Condominium Housing Development Comprising 8 Blocks of 5-Storey
Residential Flats (Total 180 units) with Attic, Basement Carparks and Communal
|Developer||United Venture Development (Watten) Pte. Ltd, a joint venture between UOL Group and Singapore Land Group in an 80:20 split|
|Address||36, 38, 40, 42, 44, 46, 48, 50 Shelford Road|
|Tenure||Estate in Fee Simple (Freehold)|
|Site Area||20,461.10 sq m (220,241 sq ft)|
|Overall Plot Ratio (Gross)||1.5|
|Number of Units||180|
|Number of Blocks||Eight 5-Storey Blocks|
|No. of Carpark Lots||183 lots (inclusive of 4 EV lots and 3 accessible lots)|
|Architect||Architects 61 Pte. Ltd|
|Landscape Consultant||Henning Larsen (previously known as Ramboll Studio Dreiseitl Singapore)|
|Project Interior Design||Index Design Pte. Ltd|
|Show Unit Interior Designer||Massone Ong|
|Main Contractor||Unison Construction Pte. Ltd|
|Bedroom Type||No. of Units||Estimated Unit Size (sq ft)|
|3-Bedroom||40||990 - 1160|
|3-Bedroom + Study||60||1,500|
|Penthouse||8||3,400 – 4,000|
Who are the Developers of Watten House Condo
The developer for Watten House condo is United Venture Development (Watten) Pte. Ltd. It is made up of a joint venture between UOL Group and Singapore Land Group, two reputable developers respected for their track record of delivering high-quality properties.
The combined experience and proven track record of the developers of Watten House is a major draw for potential buyers, as they can be assured of getting a high-quality and well-built development.
Some of their recent residential developments include Pinetree Hill, Amo Residence, The Watergardens, Clavon, and Avenue South Residences.
UOL Group: A leading public-listed property company in Singapore, known for its extensive portfolio of development and investment properties, hotels, and serviced suites. With a strong track record in property development, UOL Group has delivered high-quality residential, commercial, and industrial properties. In 2022, the company reported strong sales across all its property development projects, contributing to 62% of the group's overall revenue.
Singapore Land Group: It is one of Singapore's oldest property developers which was incorporated in 1963. It has played a significant role in shaping Singapore's real estate landscape, with a diverse portfolio that includes commercial, residential, and retail properties. Leveraging its deep industry knowledge and strategic partnerships, it seeks to deliver value to its stakeholders and contribute to Singapore's urban development.
What are the Prices for Watten House?
The prices for Watten House are not available yet.
Nevertheless, the 220,241 sq ft freehold site was clinched by a joint venture between UOL Group and Singapore Land Group via en bloc in October 2021 with a winning bid of $550.8 million. This translates to a land rate of $1,723 psf per plot ratio (psf ppr), including an 8% bonus gross floor area and the corresponding development charge.
Hence, Watten House is likely to be launched at an estimated average price of $3,200 psf to $3,300 psf.
Where is Watten House Located?
Watten House is located at Shelford Road, off Bukit Timah, Singapore. Bukit Timah is one of the most exclusive and sought-after residential estates in Singapore. It is home to some of the most expensive properties in Singapore, as well as a number of prestigious schools, such as Nanyang Primary School, Raffles Girls' Primary School, and Hwa Chong Institution.
As Bukit Timah is a mature estate with a strong rental demand amid the limited supply of new condominiums, Watten House is likely to appeal to both owner-occupiers and investors.
In addition, the location of Watten House is convenient for both work and play. It is only a short drive to the city centre and major business districts. In addition, it is close to a number of popular shopping, dining, and entertainment destinations such as Novena and Orchard Road.
Moreover, the Tan Kah Kee MRT station on the Downtown Line is merely seven minutes walk away, providing a convenient commute for its residents.
Watten House Enjoys Excellent Transport Connectivity
Watten House is well-connected to public transportation. It is just seven minutes walk to the Tan Kah Kee MRT station on the Downtown line. The MRT station provides direct access to the city centre, central business district (CBD) and many other parts of Singapore.
For perspective, a train ride to the Central Business District (CBD) and Orchard Road only takes about 20 minutes.
In addition, it is well-served by a number of public buses, which provide convenient transportation options for its residents.
For those who drive, the Pan Island Expressway (PIE) and Lornie Highway are just 3-4 minutes from the development. Given its excellent transport connectivity, Watten House offers a convenient place to live for both working professionals and families as they can easily get around Singapore via various transport options.
Shopping Centres and Amenities near Watten House
There are a number of shopping centres and amenities near Watten House condo. The nearest are:
- Coronation Shopping Plaza.
- Serene Centre.
- King's Arcade Shopping Centre.
These three shopping malls are just 3-4 minutes' drive away. Although they are quite small, Collectively, they offer a good mix of F&B options, supermarkets, clothing and electronic stores, among many others.
However, slightly further away are major shopping and entertainment destinations such as Holland Village, Novena, and Orchard Road. As they are located merely 7-8 minutes drive from Watten House, residents will have everything within easy reach. These include groceries, and daily necessities, as well as medical and banking services.
Popular Food Places Near Watten House
There are several popular food centres near Watten House. They are:
Adam Road Food Centre: A Michelin Bib Gourmand hawker centre with over 100 stalls to choose from. It is a great place to try a variety of Singaporean dishes, such as chicken rice, laksa, and char kway teow.
Newton Food Centre: One of the most famous hawker centres in Singapore located just a short walk from Newton MRT Station, it is known for its wide variety of stalls selling local cuisine such as char kway teow, laksa, chicken rice, and roti prata. It is a popular destination for tourists visiting Singapore. It was also featured in the Hollywood blockbuster "Crazy Rich Asians".
Bukit Timah Food Centre: It is home to over 80 stalls selling a variety of Singaporean dishes, including carrot cake, mee siam, and bak kut teh. Many of the stalls are passed down from the previous generation, which helps to preserve their culinary expertise.
Nature Parks Near Watten House Condo
Watten House condo is located near several nature parks, all of them less than 10 minutes drive away. They include the following:
Singapore Botanic Gardens: This UNESCO World Heritage site is home to a vast collection of plants and flowers, as well as a number of lakes and ponds. It is a popular spot for locals and tourists alike and offers a variety of activities for all ages. In fact, there is a special area for children known as Jacob Ballas Children's Garden.
MacRitchie Reservoir: This is the largest reservoir in Singapore by water catchment area. It is a popular spot for outdoor activities such as hiking, cycling, and bird watching. The reservoir is home to a variety of flora and fauna, including the endangered Malayan colugo (also known as the Sunda flying lemur).
Rifle Range Nature Park: This 66-ha nature park is located in the southern part of the Central Catchment Nature Reserve. It is a popular spot for hiking, biking, and picnicking. The park is home to a variety of flora and fauna, including the endangered Sunda pangolin. In 2018, Rifle Range Nature Park was awarded the Singapore Green Plan 2030 Award for Green Space Management.
Bukit Timah Nature Reserve: This is the largest nature reserve in Singapore with a rich biodiversity. It is home to the endangered black-crested gibbon and the greater racket-tailed drongo. The reserve is also home to Singapore's highest hill, Bukit Timah Hill, which offers stunning views of the surrounding area.
Rail Corridor: This 24 km long green corridor is a former railway track that has been converted into a public space for recreation and leisure. It is a popular spot for hiking, biking, and nature exploration. The corridor is also home to a variety of flora and fauna, and rare species such as the endangered Grey-headed Fish Eagle and Violet Cuckoo have been sighted.
Benefits of Staying Close to Nature
The proximity of these nature parks will encourage residents of Watten House to get active, connect with nature, and learn about the local environment. They will also gain the following benefits:
Opportunities for Physical Activity: The parks offer a variety of activities that can help residents stay active, such as hiking, biking, and strolling. Physical activity is important for maintaining a healthy weight, reducing the risk of chronic diseases, and improving mental health.
Exposure to Nature: Spending time in nature has been shown to have a number of benefits for mental and physical health. It can reduce stress, improve mood, and boost the immune system.
Learning Opportunities: The parks offer a variety of educational opportunities for residents of all ages. They can learn about the plants and animals that are found in the nature reserve, as well as the history of the area.
Community Bonding: The parks provide a space for residents to come together and connect with each other. These include informal gatherings such as picnics or organized events, such as nature walks and bird-watching tours.
Bukit Timah-Rochor Green Corridor
Besides the above-mentioned nature parks, future residents of Watten House can also look forward to the development of the Bukit Timah-Rochor Green Corridor just minutes' walk away.
The 11km green corridor stretches from Rifle Range Road to Kallang Riverside Park and is part of the Coast-to-Coast Trail. Part of it, a 1.4km elevated linear sky park, will run above the canal between Bukit Timah and Dunearn Road.
It is envisioned to meander through a forested setting that allows visitors to enjoy a leisurely stroll amid nature. Look-out points, shelters and seats will be located along the park to allow visitors to rest and enjoy the view.
Schools Near Watten House
There are a number of schools near Watten House, making it an ideal choice for families with children. Properties near schools, especially popular ones, have been found to command a price premium. This is according to a study by the NUS Institute of Real Estate Studies.
Moreover, popular schools such as Nanyang Primary School and Raffles Girls' Primary School are within a 1km radius of the development, which will offer priority Primary 1 admission under the Education Ministry’s distance-based allocation system.
Besides these two schools, there are several others that are highly sought after for their excellent academic achievements located along the Bukit Timah/Dunearn stretch. These include the following:
- Raffles Girls' Primary School
- Singapore Chinese Girls’ Primary School.
- Nanyang Girls’ High School.
- Saint Joseph’s Institution.
- St Margaret Girls’ School.
- Methodist Girls’ School.
- Hwa Chong Institution.
- National Junior College.
Watten House is also located near several international schools. The proximity to international schools offers excellent property investment potential due to the high demand from expatriate families seeking convenient access to quality education for their children.
As such, the demand for housing will help to spur property values and investment returns. Some of these international schools include the following:
- Hwa Chong International School (HCI).
- Holland International School.
- Swiss School.
- Chatsworth International School.
- Singapore Korean International School.
Conclusion: An Investment Perspective
Watten House offers a number of appealing features that make it a viable investment option. To sum up, these include the following:
Location: It is located in an exclusive private residential enclave with convenient access to a host of amenities.
Reputable Developers: It is developed by two reputable developers with a track record of delivering high-quality properties.
A Freehold Property: Freehold properties are typically more valuable than 99-year leasehold properties due to their greater security and transferability, making them an attractive option for those seeking a legacy asset.
Public Transportation: It is well-connected to public transportation, with the Tan Kah Kee MRT station on the Downtown Line just seven minutes walk away.
Access to High-Quality Education: It is surrounded by prestigious schools that provide families with children with a high-quality education.
Limited Supply: The lack of supply in the vicinity offers promising investment prospects. Not only will it provide good capital appreciation potential, but it can command high rental yields.
Comparative Market Analysis (as of 9 August 2023)
However, how good is Watten House’s investment potential? To answer this question, let us examine the following price trends:
- Perfect Ten’s average price trend since its launch on 19 December 2021 (the latest condo launch in District 10 located only about 5km from Watten House).
- 10-year average price trend of non-landed properties in Core Central Region (CCR).
- 10-year average price trend of non-landed properties in Rest of Central Region (CCR).
- 10-year average price trend of non-landed properties in Core Central Region (CCR).
Perfect Ten’s Average Price Performance.
As can be seen from the chart above, Perfect Ten, which was launched on 19 December 2021 during the throes of the covid-19 pandemic, sold just 12 units at an average price of $3,200 psf. To date, prices have appreciated by 2.59%.
However, it is worth noting that prices rebounded sharply from 2Q 2022 to date, achieving an impressive average price appreciation of 15.74% as the negative effects of the covid-19 pandemic eased off. Currently, it is 96.52% sold.
10-Year Average Property Price Trend Comparisons Between CCR, RCR & OCR
Referring to the above chart again, it can be seen that the 10-year average prices of properties in the CCR, RCR, and OCR have appreciated by 20.63%, 75.51%, and 43.56% respectively.
But what is noteworthy is that the average price gap between CCR versus RCR has narrowed from 54.16% to 5.95%, while CCR versus OCR narrowed from 58.63% to 33.30%.
This significant narrowing of price gaps presents a unique opportunity for potential investors seeking high-end properties in Singapore's prime districts.
The robust sales of Perfect Ten, despite initial uncertainties during the Covid-19 pandemic, underscores the attractiveness of prime district properties. If priced right, Watten House can also be expected to attract astute property investors.
While the recent property cooling measures implemented by the Singaporean government on 27 April 2023, including doubling the Additional Buyer's Stamp Duty (ABSD) from 30% to 60%, has moderated foreign investor demand, it stands to benefit local buyers in two ways - reduced competition from foreigners and more realistic pricing expectations from developers.
Review of Other Upcoming Property Launches
Besides Watten House, you may also be interested in the following review of new launches:
- Skywaters Residences, a mixed-use development at Shenton Way.
- TMW Maxwell, a mixed-use development next to Chinatown.
- Newport Residences, a District 2 mixed-use development at Anson Road.
- Marina View Residences, a prime 99-year mixed-use development next ot Singapore Conference Hall.
- The Reserve Residences, a District 21 integrated development at Jalan Anak Bukit.
- The Continuum, a District 15 condominium at Thiam Siew Avenue.
- Grand Dunman, a District 15 condominium at Dunman Road.
- Terra Hill, a low-rise condo development near Pasir Panjang MRT station.
- The Arcady, a freehold condo near Boon Keng MRT station.
- Blossoms By The Park, a District 5 mixed-use development at One-North.
- The Hill @ One-North, a District 5 mixed-use development at Slim Barracks Rise.
- Pinetree Hill, a District 21 condominium at Pine Grove.
- Tembusu Grand, a District 15 condominium at Jalan Tembusu.
- The Arden, a District 23 condominium at Phoenix Road.
- Lakegarden Residences, a condo development by Wing Tai overlooking Jurong Lake Gardens.
- Lentor Hills Residences, a District 26 condominium at Lentor Hills Road.
- J’Den, a District 22 mixed-use development at Jurong East.
- Altura EC, a District 23 executive condominium at Bukit Batok.
- The Myst, a District 23 condo at Upper Bukit Timah Road.
- Botany At Dairy Farm, a District 23 condominium at Dairy Farm Road.
- Hillock Green, a condo development near Lentor MRT station.
- Hillhaven, a condominium located near Hillview MRT station.
- Lentoria, a condo development at Lentor Hills Road.
For more details on new launches, you can find them in project information.