The primary selling point would be that it is located right at the edge of Singapore’s CBD. If you are operating in the CBD and also would like to live in close proximity to the CBD, then Avenue South Residence would be one of your alternatives. It is also situated really near Singapore General Hospital and also need might come from this location too. The URA in its Greater Southern Waterfront plans did mention about extending the city and this should also bring about more offices and commercial activity to the area.
Avenue South Residence is going to be 56 storeys high and this will be one of the tallest residential buildings in Singapore. Units on the very high levels will have unblocked and unrivalled views of either the city or the waterfront. As the Greater Southern Waterfront project takes shape, this area will become even more desirable.
Recently the URA announced plans to revitalise the CBD. For a long period of time, the price growth in the non-core central regions has outperformed the core-central region. While living close to the CBD was a draw, the CBD had very little to offer residents post office hours and on weekends. However, the URA is making plans to revitalise the CBD and in time to come, the area will have a good mix of both commercial and residential activities. It is my view that it was always easier to integrate residential buildings to a business district than it is to integrate a business district into a largely residential area. For property investors this is a good thing. Rental demand would already be there as business activity is already part of the existing CBD. Demand for rent should be there and if the URA were to revitalise the CBD, it would end up as a very attractive proposition for those working in the area.
One of the selling points of this development would be the developer profile. UOL is one of the best developers in Singapore. They are experienced and their developments are usually of very high quality. There have been instances of poor workmanship by developers who have not always delivered on what they are supposed to. As land and construction costs rise, developers need to maintain healthy profits and some may place profits over quality.