The Dairy Farm Walk site was recently awarded by the Urban Redevelopment Authority (URA) to critically acclaimed developers Sim Lian Land and Sim Lian Development on 11th March 2022. The two developers jointly secured the 99-year lease land with their highest bid of $347 million, beating out strong contenders, including developers of the nearby Dairy Farm Residences, United Engineers and Soilbuild Group.
The 15.663 square metre residential land is estimated to have the capacity to accommodate around 385 housing units. The successful bid means that Dairy Farm Walk is calculated to be valued at $980 per square foot per plot ratio ($psf ppr).
Surrounded by Chestnut Nature Park and Dairy Farm Nature Park, Dairy Farm Walk offers the right mix of nature and convenience by allowing residents to be within reach of both simultaneously.
Awards and credentials of Dairy Farm Walk developers
Starting out in 1976 as a construction firm, Sim Lian Group has established itself as a powerhouse property developer and investor over the past four decades, expanding their portfolio beyond residential properties to include retail and commercial projects throughout the Southeast Asia region.
Sim Lian Group’s successful bid follows their recent series of wins, including the sold-out development of Treasure at Tampines. Despite being the largest condominium in Singapore to date at 2,203 units, homes were quickly snapped up within a short span of 3 years.
Within a 1km radius of Dairy Farm Walk sits numerous condominium complexes, along with a Good Class Bungalow area on Chestnut Avenue. Demand for condominiums within the area can be demonstrated by the high transaction volumes and popularity of the surrounding complexes.
Estimate price based on recent transactions of surrounding properties
Taking into consideration the transaction prices of the nearby condominiums coupled with the land’s high bid price, property watchers are estimating the future condominium to be sold around the range of $1,700 to $1,900 psf.
|Recently Transacted Condos Within 1-2km of Dairy Farm Walk||Highest Transacted Price within the Last 5 Years (psf)||Tenure||Completion Status|
|Chestnut Ville||$1,035||999 years leasehold||Completed in 1984|
|The Dairy Farm||$1,568||Freehold||Completed in 1985|
|The Skywoods||$1,467||99 years leasehold||Completed in 2016|
|Dairy Farm Residences||$1,895||99 year leasehold||Expected TOP: February 2024|
|Foresque Residences||$1,465||99 year leasehold||Completed in 2015|
High investment prospect endorsed by developers’ high bids
The high bid price should be taken as a positive sign of investor confidence in Singapore’s residential market amid an inflating property market and international instability. Property watchers suggest that developers are betting on Singapore’s limited supply and sustained demand to keep prices from appreciating in the future.
Also noteworthy is the success of projects within the area. Apart from the aforementioned Treasure at Tampines, the 460-unit Dairy Farm Residences also has less than 15 unsold units post-construction (at the time of writing).
Buyers should note, though, that future developments in the area might mean having to put up with construction noise, at least during the very beginning of their tenure. But considering the upcoming MRT developments and the existing selection of facilities, residents can rest assured knowing that they will have their essential needs met.
Quick access to North and Central Singapore, a multitude of MRT & LRT lines
Despite not being centrally located, Dairy Farm Walk still provides residents with plenty of options to access different parts of Singapore conveniently. To the east lies Bukit Timah Expressway, which drivers can use for a quick shortcut to the North. On the opposite end sits Upper Bukit Timah Road, providing commuters a quick way to slide into the Pan Island Expressway (PIE).
Residents can also get to Hillview MRT station within 10 minutes on foot, where they can have a quick ride to central Singapore via the Downtown Line in less than 20 minutes.
Apart from accessing the Circle Line and NorthSouth line via Botanic Gardens MRT and Newton MRT respectively, residents can also look forward to transferring to the Thomson East Coast Line via Stevens MRT once the 3rd stage of construction is complete.
In addition, Pending LRT station lies just less than 1km away, providing commuters with access into the heartlands of Choa Chu Kang and Bukit Panjang via the Bukit Panjang LRT loop.
Surrounded by nature and convenience on all sides
True to its namesake, Dairy Farm Walk is perfect for individuals and families who plan to seek quiet refuge from city life. Chestnut Nature Park and Dairy Farm Nature Park both lie at the development’s doorstep, with Bukit Timah Nature Reserve lying just further down south.
There will be plenty of trails and sights to explore for nature photographers and people who simply want some crisp, fresh air. Interestingly, Chestnut Nature Park is also a choice location for Mountain Bikers thanks to steep contours along its trails. For budding scientists and botanists, Bukit Timah Nature reserve is home to Singapore’s native plant species, including the Malayan Colugo and Red Dhup.
Dairy Farm Walk also demonstrates that closeness to nature does not have to be synonymous with being ulu (Malay for remote, deserted, and inaccessible). There is no shortage of malls here, including The Rail Mall and HillV2, to meet the everyday needs of residences.
The architecturally unique Rail Mail is a single-storey, open-spaced series of shops, bars, and cafes for people looking to unwind with an afternoon brunch or evening wine. Located near Hillview MRT and connected to a series of public bus services, residents will be able to access this instagrammable location even without access to a car.
Also located near Hillview MRT is HillV2, a green-themed, cosy two-storey communal retail outlet that has no shortage of sophisticated eateries like Tandoori Culture and iO Italian Osteria, and Anytime Fitness for gym buffs.
A wide selection of local and international schools for every level
Families with children may face the happy problem of having too many schools to choose from, thanks to the bevy of institutions catering to children from infant and preschool all the way to pre-university levels, all within a stone’s throw away from Dairy Farm Walk.
It’s not a stretch to say that future residents would have lucked out, since York Infant and Early Years Centre, a specialist school providing care and education to children aged between 2 months and 3 years, recently opened a branch in the area in April 2022.
In terms of primary schools, Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace are both within a 1km radius of the land plot, providing families with priority bidding during selection rounds. Bukit Panjang Primary School, in particular, received the Outstanding School Partner Award 2021 (Gold) and the BCA Green Mark for its efforts in educating and preparing students for a zero-waste Singapore.
Within the outer 2 kilometre radius of Dairy Farm Walk is Fajar Secondary School, one of the schools which offers a Science, Technology, Engineering and Math (STEM) Applied Learning Programme (ALP). Students will receive opportunities to participate in hands-on learning, applying textbook knowledge learnt to real-world scenarios where they will hone both hard and soft skills.
Also nearby are Assumption English School and Assumption Pathway School. The former is a government-aided secondary school and the latter is a specialised school that aims to widen accessibility to mainstream Secondary School education for the underprivileged. Both schools collaborate with the Ministry of Education and offer programmes recognised by the Institute of Technical Education to provide their graduates with smooth paths into the workforce.
Notably, Dairy Farm Walk is located right next to the German European School Singapore, one of the few institutions here offering International Baccalaureate programmes in English to children aged 2 to 18.
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