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Asia USA Realty
(Singapore)
asiahomes.com Pte Ltd
Estate Agents Licence No.
L3007306B
23 Mar 2011
Focus: We
get for you affordable Singapore homes
Rent or Investment
LUCKY TOWER
Downtown Singapore
57 Grange Road.
Freehold condominium.
Completed: 1981 but pools and grounds upgraded in 2000.
Total no. of units: 92
3-bedroom: 245 sq. m.
4-bedroom: 245, 329 sq. m.
Penthouse: 620 sq. m
Interiors: Living and
separate dining area - carpet, ceramic or marble if renovated. Bedrooms -
parquet. Small
balcony off the living area.
Facilities: Covered car
park with lift card access from basement (a good security feature), pool,
gym, tennis court, squash court, playground (exceptionally big area), BBQ
area, clubhouse. Security: 24-hour security guard at lift entrance (good
security feature) and at main entrance.
Details: Split-level living and dining rooms.
On higher floors, a nice green-tree view instead of condo building views
from the balcony of the living room. Higher floors are breezy. Interiors
depend on how much money and quality of interior designer efforts put in
by the Landlord.
Occupancy Rate: Condo is
extremely popular with expats especially renovated ones as location is
great, being 5-minute taxi to Orchard Rd/Raffles Place.
Competitors: Big condos
with 4 bedrooms. Beverly Hill (86 units), Chatsworth Court (45
units), Regency Park (292 units) nearby. Aspen Heights Condo Penthouses of
2700 and 3200 sq. ft 5+1 offering $9,000 - $12,000 rent. UE Square
maisonettes and penthouses asking $9,000 - $10,000.
Investors to note:
Freehold. Buy high floors with good views but Lucky Tower has a very high
occupancy owing to the big demand for bigger 4 bedroom condos near to
downtown.
Advantages:
Location near Orchard
Road (10-15 min walk) and Tanglin Mall (10-15 min walk).
Big built-in areas
i.e. bigger bedrooms and separate living, dining and family rooms.
Good sized balconies off the dining areas. Big children's playground.
2 attached baths for
4+1.
Large master bedroom,
some with good city views.
15-minute walk to the
Tanglin Mall's TOPS - Caucasians' favourite supermarket.
5-minute bus ride to
the Overseas Family School, International Singapore School International
School at Paterson Road.
5-minute taxi to
Orchard Road and all malls/food and beverages.
5-minute taxi to the
Great World Shopping Centre and cinemas.
Upgraded and looks as
good as new since 2001. Some Landlords do renovate the interiors to a
high standard but these are the minority as renovations into an upscale
apartment can cost as much as $100,000.
Disadvantages:
Not within walking
distance to the Orchard subway although energetic expats can take around
15-20 minutes brisk walk to reach the subway.
Not within 5-minute
walking distance to malls and supermarkets but there is a taxi almost
every 2 minutes on Grange Road.
FOR RENT
March
23, 2011
For Rent
One or two units are available for rent at various times.
E-mail
judy@asiahomes.com Tel: +65
9668 6468.
TIPS FOR
LANDLORDS
Case
study: Landlord, Be realistic if you have landed properties for rent.
Report was written in 20 October 2002.
To: Landlords with landed
properties.
"How much rent did my
brother get for his Costa Rhu Condo?" asked the Landlord of the Gentle
Villa semi-detached? $6,000 was the answer of Asia USA Realtor. Get me a
$6,000 tenant then.
Although the Gentle Villa
5+1 semi-detached is worth much more than the 4+1 Costa Rhu water fronting
condo, it does not attract as many Caucasian expats as tenants as it does
not have swimming pool, gym or any condo facilities.
The offer of $4,900 p/f
was rejected even though it had the following advantages:
1. Couple with grown up
child (less wear and tear of house compared to small kids).
2. 2 dogs (may be disadvantage if you think of the garden and carpet grass
but advantage if you think of robbers).
3. Not asking for new appliances.
4. Commencement in less than 3 weeks' time.
A target of $6,000 may be
possible but it may take months and the house will deteriorate when there
is no occupants for over few months. Returns on investment in
semi-detached are very low. These type of properties have no condo
facilities nor a pool They do not attract many expats. 90% of the
Caucasians want a swimming pool plus or minus a gym and landed properties
have lost favour over the last 2 years. Landlords have to be aware of the
market trends.
FOR HISTORICAL
RECORDS ONLY
ASIAHOMES' 2001 HOUSE-HUNTING REPORT
HOUSE HUNTING WITH AN
AMERICAN COUPLE. It was important that the maid's room must be large as
the maid had been working for the family for over 8 years.
12.20pm
Lucky Tower 4+1 2650 sq. ft $7,000. 3rd floor. Facing pool. 2 long baths.
Upgraded
pool makes you feel like swimming. Sun worshippers love the deck. Club
house with gym on level 2 at left. Great location in Grange Road,
15-min walk to Orchard subway and Borders bookshop.
12.30pm
Lucky Tower 3+1 2800 sq. ft $8,500. 2nd floor. Fully renovated with
upscale finishes. Immaculate stainless steel kitchen cooker and hob.
Walk in closet and master bathroom. No long bath. A dream apartment.
Huge master bedroom. Facing The Colonnade. Air conditioned kitchen.
12.45pm
Lucky Tower 4+1 2670 sq. ft $7,000. Above 15th floor. Ceramic tiled living
room.
1pm
Lucky Tower 4+1 2800 sq. ft plus 500 sq. ft of big L-shaped patio $9,500.
Greyish granite flooring. Facing tennis court. Air conditioned
kitchen. White kitchen cainets. Master bedroom with shower.
1.15pm
3+1 2300 sq. ft $7,000. Blk 3, 3rd floor. Dated bathrooms. 2 long baths.
Regency Park has very big balconies but many units have dated kitchen
cabinets and bathrooms.
CONCLUSION Lucky
Tower does not have the space in the utility area to accommodate the
American sized washing machine and dryer. However, it is easy to get a
tenant, especially for renovated units as there are not many big condos
over 3000 sq ft near downtown Orchard Road.
The big maid's room can be a guest room. Some Landlords have attached a
bathroom to the maid's room by knocking down the wall between the maid's
room and the bathroom.
The utility area is much reduced unless the Landlord knows how to
re-configure the kitchen floor plan to give more space for the utility
area so that American sized washer and dryer can be accommodated without
obstruction of the passageway to the back door.
The squatting toilet bowl for the maid's bathroom is retained in some
really cool Lucky Tower apartments. It is best to install the modern
toilet bowl to give the apartment a modern look to Caucasian expats who
usually treat the maid as family.
Living room with ceramic tiles and big balcony. Breezy on high floors.
Valley Park condos and Spring Grove condos.
Living area with wood flooring and big balcony. Kitchen (foreground) and
one big bedroom separate from the others. Facing car park sheds.
Subdivisions
(condo & house details) has some of the details of the
advertised condos.
March
23, 2011
For Rent
r and dryer can be accommodated without
obstruction of the passageway to the back door.
