1101Singapore Real Estate, Paterson Tower,  Rental Houses, Apartments, Condos, Homes Singapore Classifieds, Internet Property Advertisements published by: Asiahomes
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72 units.

4-bedroom: 2600 sq. ft (family room upstairs, small master bedroom)

4-bedroom: 2650 sq. ft
(if there is no family area upstairs, the master bedroom is bigger).

Usually there is a maid's room downstairs 
Picture of Paterson Tower - kitchen (left) and maid's room (right) from the main entrance. Stairs lead to upstairs 4 bedrooms.

4 bedrooms (2 attached bathrooms) upstairs, unless remodeled. No balcony. Only one block (2 lobbies). Upgraded pool, lobbies and elevators. 8 units/floor but 2-levels (called maisonettes)/unit. 18 floors.

Interiors: Living/dining - granite of grey and white originally unless replaced by new Owner.  Bedrooms parquet.  Big kitchen and utility area. 

Facilities:
Swimming pool, children's pool, tennis court, playground, car park, barbecue area, 24-hour security.

Advantages:

Great location near Orchard Road and 5-minute walk to Orchard subway.

Very close to International Singapore School elementary and OFS schools in Paterson Road. Not too far to French School in Thomson Road.


Very spacious living areas and bedrooms. Big kitchens.

Privacy with only 72 units and only one building.

Lower rental than newer condos at 2600 sq. ft.

Some units are un-renovated or partially renovated.

Not modern looking as most apartments have ceramic inside of marble tiled living areas.

No gym.

Some expats don't like the dark common corridors when they get out of the elevators. The corridors encircle the units.

Occupancy Rate:
Almost 90%.
Condo is popular with Europeans and Americans who want large living and dining area close to Orchard subway at a rental of around $5,000. 

Case Study:

Marketing "desperate" Landlords.

"Give the Landlord any offer. It is the Tenant's market!" said a cheerful experienced old hand when an associate brought an English couple to view the 3+1 Grangeford Condo.

He knew it was a difficult market in Sep 1998 and the Owner had offered furniture to be given to the Tenant at the end of lease.

The wooden flooring of the living and dining rooms certainly attracts many Europeans as this is perceived as better than cold marble tiles.

All prospective Tenants know rentals are getting lower but realtors who act for the Landlord must have a sense of obligation not to market the Landlord as "desperate" for any offer.

Just listen to what the Tenants want and discuss further.

Obviously this high floor Grangeford 3+1 Condo could not be rented for $4,000, as $5,000 would be a reasonable offer.

Co-broking agents acting for the Landlord need to be careful.

By sounding desperate, many Caucasians develop an uneasy feeling as to whether the Landlord is in financial distress and will be able to look after the maintenance of the rented condo.

(Business Times January 11 2000)
In a new twist to collective sales, the owners of Paterson Tower have put up their property tender without officially setting a reserve price. Instead, marketing agents Colliers Jardine and Knight Frank will sell the site based on an indicative price of about $240 million, or $996 per sq. ft per plot ratio. No development charge is payable. The district 9 plot currently houses a 72-unit condominium, with a site area estimated to be 114,547 sq ft. Under the 1998 Master Plan, the property is designated for residential use with a maximum plot ratio of 2.1, and a building height of up to 20 storeys. Based on these guidelines, the new condominium development should yield about 130 units of some 1,600 sq ft each. 

Implications for Tenants:  Landlords want to lease the apartments with 3 months' termination notice to be given anytime there is a successful enbloc sale. Many tenants dislike this uncertainty.  The enbloc sale was not successful in 2001.

	Elmira Heights has ceramic tiled living area. 3-min walk to Newton subway.	Elmira Heights has a spacious master bedroom. Condo has been upgraded.

Kim Yam Heights has high windows, 10-min walk to Somerset subway. Almost full house as at Oct 2001.	Kim Yam Heights has spacious kitchens	Be Kind to Pets is a community education project supported by Asiahomes Internet.

For more information on rentals or FREE house-hunting for expats relocating to Singapore, email Judy Quek, tel: +65 9668 6468, 6254 3326, goto http://www.asiahomes.com
  
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