The Landmark Review: Pearl's Hill Transformation an Opportunity?
Today, I'll be exploring the Pearl's Hill Transformation as announced by the Urban Redevelopment Authority in November 2023, and discuss an investment opportunity at The Landmark condo that's set to capitalize on this transformation.
Understanding Pearl's Hill Transformation
According to the URA Master Plan, Pearl's Hill is slated to introduce a new residential neighbourhood featuring 6,000 new homes, from both public and private housing sectors, progressively developed over the next decade.
A mixed-use integrated development will also sit atop Outram Park MRT station, boasting a pedestrian mall that links the station to Eu Tong Seng Street and Chinatown, offering a fully sheltered walkway.
But this is just the tip of the iceberg in an ambitious transformation plan by the government.
The Landmark Condo: Location and Accessibility
When assessing this progressive landscape, The Landmark Condo appeared as a potential winner, with multiple units still up for sale.
MRT
Located within a stone's throw from the heart of activities, it's nestled between four MRT Lines:
- East West (Outram Park EW16)
- Thomson East Coast (Havelock TE16) & (Outram Park TE17)
- North East Line (Chinatown NE4) & (Clarke Quay NE5)
- Downtown Line (Fort Canning DT20) & (Chinatown DT19)
Shuttle Bus Service
Making things even more convenient, the condo’s developers offer a shuttle bus service to nearby MRT stations:
- Outram Park
- Clarke Quay
- Great World
Driving
For those who prefer driving
- 5 mins to Central Business District
- 3 mins to Tiong Bahru Stretch of Cafes & Hawker Centre
- 6 mins to Orchard Shopping Belt
Cosmopolitan Convenience
One rarely has to worry about finding shops or eateries in this bustling merchant estate.
The Landmark is about:
- 3 to 4 mins stroll to the nearest Sheng Shiong supermarket
- 5 to 8 mins stroll to a diverse range of coffee shops and food centres in Chinatown
- 8 to 10 min stroll to Robertson Quay (for a more upscale dining experience)
Educational Radius
For families with young children, finding good schooling options near the Landmark is a breeze. The property resides within the 1-kilometre radius of River Valley Primary School, one of the top primary schools in Singapore.
Masterplan Reveal
All these factors paint a positive picture for the Landmark as a worthy investment, especially after the Pearl's Hill Transformation.
Examining the master plan, the Landmark is surrounded by six residential plots and mixed development sites. These plots are likely to yield high prices due to escalating land, construction, and financing costs, a factor that provides a healthy price support for the Landmark.
Furthermore, the addition of these residential plots will enhance convenience and increase amenities for residents of the Landmark.
Pricing and Safety of Investment
Considering the current selling prices and transacted rates of other new launches (i.e.Canninghill Piers, One Bernam, TMW Maxwell) in the vicinity, the Landmark offers the lowest entry price both in quantum and per square feet (PSF):
Present Selling Prices
| Project | Unit Number | Unit Size | Price | PSF |
|---|---|---|---|---|
| The Landmark | #38-02 | 1 Bedder, 495 sqft | $1,445,300 | $2,920 psf |
| Canninghill Piers | #47-04 | 1 Bedder, 484 sqft | $1,712,000 | $3,537 psf |
| One Bernam | #28-04 | 1 Bedder, 452 sqft | $1,533,000 | $3,392 psf |
| TMW Maxwell | #04-15 | Flip/Switch 474 sqft | $1,482,000 | $3,127 psf |
Transacted Prices
| Name of Project | Historical High | Average PSF Transacted for Past 6 Months |
|---|---|---|
| The Landmark | $3,108 PSF | $2,710 PSF |
| Canninghill Piers | $5,360 PSF | $3,097 PSF |
| One Bernam | $3,344 PSF | $2,649 PSF |
| TMW Maxwell | $3,739 PSF | $3,348 PSF |
The soon-to-be-launched former Central Mall and Central Square, a brief 2-minute drive from the Landmark, will likely be priced beyond the S$3000 PSF range.
Comparatively, The Landmark as of now, is transacting below this mark, indicating a safer and promising entry price for potential investors and home-buyers.
Final Thoughts
In conclusion, The Landmark Condo appears as an attractive opportunity offering convenience, accessibility, educational options and a safer investment entry price.
In addition, the URA's Pearl's Hill Transformation further enhances the property's appeal, making it an exciting investment opportunity for potential homeowners and investors alike.
To learn more about investment opportunities in properties like the Landmark, engage in a conversation to determine if it's the right fit for you. Your journey to premier real estate investment is just a dialogue away!
Join me again in the next exploration of real estate opportunities as we continue to navigate the path of profitable property investments together. Cheers!
