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Thread: Riverside Piazza, your views

  1. #1

    Default Riverside Piazza, your views

    Hi, I noticed that there is a mixed development that is half the price of Soho @ The Central. Last transacted price is $978 psf. The Central was transacted at around $1800 psf. The other project that is nearby is Riverwalk which transacted at around $1350 psf.

    Riverside is at the quieter side of Riverwalk. There is a hotel called St Regis which will also have office space, completing in 3Q 2010. THere is another parcel of land for hotel use, sold by the government in 2Q 2010.

    Riverside has an apartment status, no facilities other than a small pool. Only 44 units. The rest are offices. It is located within the CBD area. Rental yield is around 4 - 5% and is easy to get corporate leases.

    I am curious why this project is priced so cheaply and if it is another gem that will be noticed when St Regis is completed. Business around the area may improve at the end of the year if there are more offices and tourists.

    I welcome your opinions.

  2. #2

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    my best guess is because its old, top in 1996 means almost 14 years shaved off from the 99 year leasehold. (i may be wrong)

    Also, apartments are generally cheaper as Singaporeans rarely live in them, they are only good or sometime only able to be rented out

  3. #3

    Default

    Quote Originally Posted by jeffreyghong
    Hi, I noticed that there is a mixed development that is half the price of Soho @ The Central. Last transacted price is $978 psf. The Central was transacted at around $1800 psf. The other project that is nearby is Riverwalk which transacted at around $1350 psf.

    Riverside is at the quieter side of Riverwalk. There is a hotel called St Regis which will also have office space, completing in 3Q 2010. THere is another parcel of land for hotel use, sold by the government in 2Q 2010.

    Riverside has an apartment status, no facilities other than a small pool. Only 44 units. The rest are offices. It is located within the CBD area. Rental yield is around 4 - 5% and is easy to get corporate leases.

    I am curious why this project is priced so cheaply and if it is another gem that will be noticed when St Regis is completed. Business around the area may improve at the end of the year if there are more offices and tourists.

    I welcome your opinions.
    I wont buy this one
    Yes in town area but totally ghost town environment
    Easy to buy hard to sell later
    99 years LH!

  4. #4

    Default

    Quote Originally Posted by NoodyGirl
    I wont buy this one
    Yes in town area but totally ghost town environment
    Easy to buy hard to sell later
    99 years LH!
    smart

    this one in direct competition with service residences right next to it.

    anyway with a hotel coming up there, things might not be so bad afterall.

  5. #5

    Default

    Quote Originally Posted by NoodyGirl
    I wont buy this one
    Yes in town area but totally ghost town environment
    Easy to buy hard to sell later
    99 years LH!
    There are 2 hotels that will be completed. It's a ghost town, that's why it's selling at half the price of Soho @ Central, at 1000psf. I suspect once Parc Regis is completed, the place will be liven up and its price will rise to around 1200psf. Rental yield is 4.8% at Piazza.

  6. #6

    Default

    Quote Originally Posted by jeffreyghong
    There are 2 hotels that will be completed. It's a ghost town, that's why it's selling at half the price of Soho @ Central, at 1000psf. I suspect once Parc Regis is completed, the place will be liven up and its price will rise to around 1200psf. Rental yield is 4.8% at Piazza.
    One is almost done. The other one, not to sure if it is sold (must go check), nothing done there now right?. There's another one near to it which is at Hong Lim place. The lawyers could use these residences as their personal offices too.

    Oh, this one was involved in a Law Suit earlier and the verdict is in favour of the petitioners. Guess who was the defendant?

  7. #7

    Default I Told You So.... Now 1280 psf!

    Quote Originally Posted by jeffreyghong
    There are 2 hotels that will be completed. It's a ghost town, that's why it's selling at half the price of Soho @ Central, at 1000psf. I suspect once Parc Regis is completed, the place will be liven up and its price will rise to around 1200psf. Rental yield is 4.8% at Piazza.
    My theory is always to go for the cheapest and look at what it could potentially become, not what it is now. Latest transaction 1280 psf!

  8. #8

    Default

    It's about replacement cost.. Buy cheaper than that is a value buy

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