Two mixed-use sites on Slim Barracks Rise, conveniently flanked by Buona Vista MRT and one-north MRT, had their tenders closed in September 2021. As property experts predicted, the two government land sales (GLS) sites drew in an impressive number of bids — ten each, to be exact — indicative of the amount of potential they foresee for the future development and the area.
Both Slim Barracks Rise Parcel A and Parcel B have a 99-year lease and were released by the Urban Redevelopment Authority (URA) in June 2021. URA intends for both sites to be developed for a blend of commercial and residential use, as part of statutory board JTC Corporations’ efforts to fill up the one-north area with more residential units. They have thus permitted developers to build commercial spaces within the first storey on these two sites.
Parcel A has a total area of 85,648.4 square feet (sq ft) and received its top bid of $320.1 million or $1,245.7 per square foot per plot ratio (psf ppr) from EL Development. It is expected to yield about 265 residential units.
EL Development’s high bid took property experts by surprise, exceeding the bid made by one of Kingsford Development’s owners Gao Xiuhua, which was the second-highest bid of $316.1 million or $1,230.2 psf ppr by 1.27%. However, Gao Xiuhua did not walk away empty-handed, snagging the 63,901 sq ft Parcel B with a bid of $162.4 million or $1,210 psf ppr. Parcel B is expected to yield about 140 residential units.
Developers see potential for Slim Barracks Rise GLS sites
While the high bid prices were a bit of a surprise, hindsight shows that developers did have reason to be optimistic about the property market. In April 2021, nearby development One-North Eden had sold 141 of its 165 units at a median price of $2,009 psf within the first month of its launch. The previous Slim Barracks Rise GLS residential site launched in 2019 also drew in a winning bid of $1,001 psf ppr, which may have given investors greater confidence to bid their top dollar this time around.
Of course, some experts also noted that the high bids may be a sign of developers looking to replenish their declining land banks. The two Slim Barracks Rise parcels in particular would serve as good additions to many developers’ land banks thanks to their manageable size.
Property developers of Slim Barracks Rise Parcel A
Parcel A developer EL Development is a familiar face in the local property scene with an impressive list of accolades. Notably, the real estate development and investment company bagged three awards at the Asia Pacific Property Awards Singapore 2021 – 2022:
- Best Architecture Multiple Residence Singapore
- Best Residential High Rise Development Singapore
- Residential High Rise Architecture Singapore
All three awards won based on their success with Pullman Residences, Newton, a freehold property near Newton MRT which sold for an impressive average price of $2,930 psf in September 2021.
Developer for Slim Barracks Rise Parcel B
Parcel B bid winner Gao Xiuhua forms one-half of property management company Kingsford Development. A subsidiary of Kingsford Group, Kingsford Development bagged the Singapore Prestige Brand Award from the Association of Small & Medium Enterprises in 2019. The company operates in Singapore, China, and Australia and has launched a bevy of condos since 2012. One of their recent launches, Normanton Park, saw 80% of its 600 units sold at an average of $1,750 psf within its 13-day preview in January 2021.
What you can look forward to at Slim Barracks Rise, one-north
Access to two MRT lines from one location
Slim Barracks Rise Parcel A and Parcel B are conveniently located within a brisk 4-minute and 6-minute walk to Buona Vista MRT respectively. To make the deal even sweeter, you can also reach one-north MRT by walking southwards in just 8 minutes.
Surrounded by reputable schools
Slim Barracks Rise Parcel A is nestled in the heart of an impressive school network, formed by the likes of the Fairfield Methodist schools, Anglo-Chinese School and the National University of Singapore (NUS). No matter what age your school-going children are at, you won’t have to worry about sending them on long commutes during the rush hours of the morning.
Direct buses 196 and 74 will take students directly to Fairfield Methodist Primary, giving primary schoolers an opportunity to learn how to take public transportation independently from a young age. The fact that the school lies within the 1km radius of both land parcels means that your child will get priority bidding during primary one registration.
Speaking of priority, your child will receive bonus points for their entry into the neighbouring Fairfield Methodist Secondary after their PSLE. Complete with the school’s Partners-in-Education program, your child will be able to grow up in an environment supported by dedicated teachers and parents of their peers.
Should your child decide to proceed with the pre-university route after graduating from secondary school, they’ll have the option of attending ACS (Independent). And guess what? ACS (independent) is right next to the two Fairfield Methodist schools! Besides offering your children a convenient educational path from primary to pre-university levels, siblings will also remain close by to support one another even if they are attending schools of different levels.
For students who are more hands on, Singapore Polytechnic is located just further to the West. Once again, bus service 196 will take you directly to the campus. Complete with part-time courses for working adults and polytechnic foundation programmes for outstanding ‘N’ Level certification holders, Singapore Polytechnic is a great place to receive vocational training no matter where you’re at career-wise.
Once your children come of age, they’ll be able to head to NUS directly via bus services 200 and 92, or the Circle Line in approximately 30-35 minutes. If you’ve ever seen the morning crowd at Kent Ridge MRT station, you’ll know that it’s a blessing to have several transportation options on hand. Between juggling their social lives, studies, part-time jobs and internships, your children will no doubt be grateful to have a home located so close to their lecture halls so that they can come home to recharge after a long day at school.
Proximity to healthcare at National University Hospital
Direct transport to NUS also means direct transport to the National University Hospital (NUH), making Slim Barracks Rise a choice option for families who are living with elderly family members. The hospital provides good geriatric care programmes such as the Interim Disability Assistance Programme for the Elderly to assist patients with rehabilitation and recovery.
Of course, medical access will benefit the entire family as well. Whether for pregnancy checkups, annual general health checkups, or for people with chronic conditions, living close to medical facilities will always provide that extra layer of comfort and security in case of emergencies.
The icing on the cake is that trainee doctors and nurses as well as NUH staff who will live at Slim Barracks Rise will also enjoy a quick commute back home everyday. It’s no secret that the medical industry is one of the most physically taxing ones out there, so living right next to the hospital can help take that little bit of burden off their day-to-day lives.
Retail and food options
No neighbourhood is complete without good retail and dining options. Thankfully, you won’t have to look very far if you’re looking to treat yourself to a nice dinner date or family meal. Fusionopolis and The Star Vista offer a range of delightful cuisines, whether you’re looking for something fancy or something more affordable but equally delicious. From collagen hotpot to poke bowls to bubble tea, you name it, they have it.
Daily essentials can be found in the basement of The Star Vista at Cold Storage’s CS Fresh. J-mart also provides specialty ingredients like short-grain Japanese rice or sake and mirin.
Should you ever get tired of the food in the vicinity, then more options will await you at Holland Village MRT just one stop away. Children will no doubt enjoy their burger fix at Fatboy’s The Burger Bar, while parents can indulge in nostalgic flavours at Tai Cheong Bakery or Crystal Jade. There’s no shortage of chic cafes in the area for young adults to go on dates, or simply get some work done, too.
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