The Beauty World area, located in the Bukit Timah district of Singapore, is a well-established residential enclave known for its tranquil and laid-back atmosphere. This area has become increasingly popular over the years, attracting a mix of young families, working professionals, and retirees. The area is also home to a variety of great food options and retro malls. It is an ideal location for those seeking a convenient and well-rounded lifestyle.
One of the main draws of the Beauty World area is its transportation infrastructure, with the Beauty World MRT station providing easy access to the Downtown Line. This means that residents of The Reserve Residences will have a wide range of options for getting around Singapore, including quick and easy access to popular destinations like the CBD and Orchard Road. In addition to its convenient location, the Beauty World area is also near the Rail Corridor and is located near parks and nature reserves. This makes it an ideal location for those who value an active and healthy lifestyle, with plenty of opportunities for outdoor recreation and relaxation.
In this opinion article, we aim to provide an in-depth analysis of The Reserve Residences. Our primary objective is to provide readers with a comprehensive understanding of the development, including its basic details, location advantages, amenities, and potential risks associated with the project. Through our analysis of the development’s MOAT profile, we will explore how it compares to other similar projects in the market and evaluate its potential for long-term growth and profitability. Additionally, we will offer insights based on our research to help readers make informed investment decisions. Look forward to our follow-up article once more details on the project are released to keep yourself updated on the latest developments.
The Reserve Residences
The Reserve Residences is an apartment located along Jalan Anak Bukit in Bukit Timah (D21). It has a 99-year leasehold tenure and spans a Land Area of 346,440 square feet (sqft). The Master Plan Gross Floor Area (GFA) for this project is a total of 1,039,318 sqft. The land use is for both commercial and residential purposes, which is a perk for future residences looking for convenient access to retail and food options.
Compared to condos in other Outside Central Region (OCR) districts across Singapore, The Reserve Residences is definitely one of the few found in an OCR district that is close to the city fringe area. This can be a huge perk for families who work in the CBD or frequently travel to the city area for leisure.
The expected TOP date for The Reserve Residences is around 2028 (5 years from now). With an estimated total number of 732 units (as of the time of writing), this medium-large sized development will be adding plenty of residences to the Beauty World area.
The existing unit distribution of private housing in the immediate area is concentrated around 1-bedroom and 2-bedroom units, which take up more than two thirds of the units. Larger units that have 4-bedrooms and above are in relatively short supply in this immediate area for private housing.
Tentatively, the unit distribution for The Reserve Residences has not yet been determined as of the time of writing. But we speculate that the developer might target the tail ends of the distribution. By having more studio and 1-bedroom units to cater to young professionals with a quantum play, and having larger 3-bedroom units and above to cater to families who are looking for more living space. That way, the developer strategies around the existing unit distribution in the area.
Based on the current state of the new launch market, in combination with the estimated land costs and other business expenses, the ballpark figure for The Reserve is a price of around $2,400 to $2,600 psf. This number is speculative and will be revised in our upcoming article once more information is made available. Although the price might be revised by the developer depending on how well new launches do in the present market.
The Reserve Residences will be located in the larger Bukit Timah area. Beauty World Centre and Bukit Timah Shopping Centre are both just a short walk away, providing residents with easy access to a wide range of retail shops, supermarkets, and restaurants. The nearest MRT station to The Reserve Residences is Beauty World MRT with direct access.
For families who drive, The Reserve Residences offers almost a direct connection to the Pan-Island Expressway (PIE), Bukit Timah Road, Dunearn Road, and Jalan Anak Bukit. Because of the presence of these main roads and high traffic zones. The area can have potentially high noise levels and congestion.
For those who enjoy outdoor activities, Rifle Range Nature Park, Bukit Batok Nature Park, Bukit Timah Nature Reserve, and Rail Corridor are just a short distance away, offering a peaceful escape from the hustle and bustle of city life. The Rail Corridor is a particularly great spot for outdoor activities as it connects the Jalan Anak Bukit Area all the way through Holland and Buona Vista to Tanjong Pagar Railway Station.
The 2019 Draft Master Plan by URA highlights the exciting prospects for residents in the Beauty World area, with the addition of a community building and integrated transport hub, along with the Bukit Timah-Rochor Green Walk, providing ample outdoor spaces for recreational activities. These new amenities reflect the URA’s focus on enhancing the quality of life for residents in the Bukit Timah area, while also creating more green spaces and improving the overall state of this sought-after residential district.
In conclusion, The Reserve Residences is a highly anticipated new launch located in the Bukit Timah area. With a 99-year leasehold tenure, this medium-large sized development will offer approximately 732 units, catering to a diverse range of residents, from young professionals to families. The project’s location in an OCR district close to the city fringe area is a big perk for those who work in the CBD or frequently travel to the city for leisure. The expected TOP date for The Reserve Residences is around 2028, and the estimated price per square foot is around $2,400 to $2,600.
The area is surrounded by retail shops, supermarkets, and restaurants, with easy access to the nearest MRT station and major expressways. Outdoor enthusiasts can enjoy nearby parks and green spaces, including the Bukit Timah-Rochor Green Walk and Rail Corridor. Overall, with the new amenities and infrastructure planned by URA in the Beauty World area, The Reserve Residences will be an attractive option for those seeking comfortable living in a well-connected and evolving residential district.
What does The Reserve Residences’ MOAT Profile look like?
The MOAT Analysis by PLB adopts a comprehensive methodof evaluating the worth of a property, taking into consideration various factors that may impact its value. Through this approach, we compare the property with others across ten different aspects and aim to offer an unbiased assessment of its appeal to the broader Singaporean market. For further details on how our tool operates, you can refer to our article here, where we provide an extensive explanation of the MOAT Analysis.
Before we jump into the analysis, we will highlight some of the other condominium projects to which we will use to approximate the MOAT score of The Reserve Residences. We will use five condominium properties based on its location and recency of development. The leasehold comparison condos are: Beauty World Centre, Le Wood, Gardenvista, High Oak Condominium. All of these condos are 99-year leasehold condos, similar to The Reserve Residences, but are much older in comparison. We will also use Jardin as a Freehold comparison.
Based on the MOAT Analysis, the approximate MOAT score of the comparison condos comes to around 57.6%. This is considered a moderate score. We can see from a glance, what the main points of appeal are as well as some of its not so attractive points. The condos in this area do well in Quantum Effect and Landsize Density. However, Volume Effect, Exit Audience and Parents’ Attraction Effect have lower scores.
With an estimated 732 units, we can expect The Reserve Residences to outshine the neighbouring developments. It is also going to be the newest addition to the 99-year leasehold condo supply to the area. The other leasehold condos are typically 20 years older than The Reserve Residences. This makes the new launch an attractive upgrade option even for existing residents in the area who wish to live in a new development and refresh the tenure of their residence.
Next, the distance from the MRT is attractive. Most Singaporeans would find a 5-minute walk to the MRT palatable and a great perk. The high level of connectivity via the PIE and main roads also means that car-owners will find this locale attractive. While it comes with drawbacks on the noise level, the connectivity benefits might be well worth the trade-off for heavy sleepers or residents with modern solutions to keep out the noise pollution.
Coming to the point of the Parent’s Attraction Effect, there are fewer schools located in the 1km vicinity of The Reserve Residences. Ngee Ann Polytechnic, Pei Hwa Presbyterian Primary School and Methodist Girls’ School are within 1km. Further out, we have Bukit Timah Primary School, Leeds International School, Middleton International School, Wise Oaks International School, The Perse School, Holland International School, Chatsworth International School, and Swiss School in Singapore.
The Verdict for New Launch
Wrapping up this article, we will summarise the advantages and disadvantages of this project to provide you with an overview of whether it is suitable for your family’s needs. It’s important to keep in mind that property is not a one-size-fits-all solution; it’s a unique home for your family. As you make your next residential property purchase, it’s crucial to carefully consider this.
Upon examining the launch of The Reserve Residences, it appears that the development is better suited for families who value convenience, nature and lead active lifestyles. Additionally, the location of the property might appeal to international families seeking proximity to quality schools. The Reserve Residences would also be an ideal option for families with cars, as it offers convenient transportation options. The development’s smaller units may be attractive to young professionals seeking convenience. However, those with an immediate need for housing or those looking for more affordable options may find other alternatives more appealing.
Let’s get in touch
If you find The Reserve Residences attractive, or are curious to find out more about which new launches fit the bill for you in 2023, reach out to us here. Thank you for reading and following PLB. Stay tuned for more regular updates on new launches in Singapore that are worth your time.
The current tentative preview of The Reserve Residences is on 22 April 2023. This might change without advance notice.
Preview date revised to 06 May 2023 (Saturday)
Estimated launch date 19/20 May 2023 (Friday/Saturday)