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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:

  1. Location near Orchard Road (10-15 min walk) and Tanglin Mall (10-15 min walk).
  2. 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.
  3. 2 attached baths for 4+1.
  4. Large master bedroom, some with good city views.
  5. 15-minute walk to the Tanglin Mall's TOPS - Caucasians' favourite supermarket.
  6. 5-minute bus ride to the Overseas Family School, International Singapore School International School at Paterson Road.
  7. 5-minute taxi to Orchard Road and all malls/food and beverages.
  8. 5-minute taxi to the Great World Shopping Centre and cinemas.
  9. 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:

  1. Not within walking distance to the Orchard subway although energetic expats can take around 15-20 minutes brisk walk to reach the subway.
  2. Not within 5-minute walking distance to malls and supermarkets but there is a taxi almost every 2 minutes on Grange Road.
FOR RENT
0907singapore_flag_gif.gif (9239 bytes)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.

See also: 
Tips for New Landlords: Large maid's room wanted

August 25, 2001

11.45am
Meet at American Club

12 noon.
Nassim Regency 3+1 1938 sq. ft $6,000

12.20pm
Lucky Tower 4+1 2650 sq. ft $7,000. 3rd floor. Facing pool. 2 long baths. 

Singapore Lucky Tower upgraded pool.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
Regency Park with large balconies..   

1.15pm
Regency Park 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
The maid's room can be a study or guest room when an air condtioner is installed!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 washeSquatting toilet bowl retained during renovation.r 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.   


Lucky Tower. High floor. Breezy. Ceramic floor tiles.
Living room with ceramic tiles and big balcony. Breezy on high floors. Valley Park condos and Spring Grove condos. Living room with wooden floor board attracts most Caucasians.


Living area with wood flooring and big balcony. Kitchen (foreground) and one big bedroom separate from the others. Facing car park sheds.

 

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Subdivisions (condo & house details) has some of the details of the advertised condos.
Tel: +65 9668-6468, e-mail judy@asiahomes.com for viewings

ŠAsia USA Realty (Singapore) asiahomes.com 
Pte Ltd.  Website:  asiahomes.com
Blk 1002, Toa Payoh Lor 8, #01-1477, Singapore 319074, Republic of Singapore
Estate Agents Licence No. L3007306B
Salesperson Name/Registration No.  Sing Kong Yuen/R030822Z

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