Benefit From Beauty World's Transformation With Upcoming New Condo At Bukit Timah Link

By Wong Siew Ying/Jean Choo

As far as location goes, the Bukit Timah Link private residential site certainly ticked many boxes. It is literally surrounded by amenities, with a large nature reserve on one side, an MRT station on the other, retail malls and an upcoming integrated development in front of and behind the plot - all that within minutes’ walk from the new project.

The 0.46-hectare 99-year leasehold site can potentially yield 160 residential units. Its land tender saw modest competition, with 5 bidders vying for the plot. The top bid of $200 million, which translates to a land rate of $1,343 psf per plot ratio, was placed by Bukit One Pte. Ltd. – a subsidiary of Bukit Sembawang Estates – in a tender that closed on 3 November 2022.

With a plethora of amenities at its doorstep and the prospects of enjoying unparalleled convenience, it is little wonder that the residential units at the adjacent site – known as The Linq@Beauty World – sold 96% of its units during its launch in November 2020. The project has since been fully sold as of December 2021 – the last transaction was for a unit on the 18th floor which fetched a unit price of $2,378 psf (see table 1 below). For those who missed out on that launch, they can now look forward to the next new launch at the Bukit Timah Link site.

Convenience all round
The new project - nestled within an exclusive private residential enclave – will have no shortage of F&B options and shops to meet their daily needs with the Bukit Timah Shopping Centre, Beauty World Centre, Beauty World Plaza, the Bukit Timah Market and eateries along the Cheong Chin Nam Road all just a short stroll away.

In addition, future residents of the Bukit Timah Link project will also be able to enjoy retail offerings at The Linq@Beauty World, as well as the upcoming integrated development in Jalan Anak Bukit, which will feature a blend of residential, retail, serviced residences and community spaces. Meanwhile, The Rail Mall, a charming lifestyle destination also provide more dining and retail options.

In fact, the Jalan Anak Bukit development will kick start the transformation of the entire Beauty World precinct, which will become a green urban village with lush landscaping - bringing a new lease of life to the area. The future Bukit Timah Link project looks set to benefit from the urban renewal in Beauty World.

Families with school-going children or are planning to have kids in the future would be glad to know that there are several schools nearby, including Pei Hwa Presbyterian Primary, Bukit Timah Primary, Methodist Girls’ School, and Ngee Ann Polytechnic, as well as the ever-popular Nanyang Girls’ High School, National Junior College, and Hwa Chong Institution which are not too far off.

International schools that are in the nearby Bukit Tinggi area include Hollandse School, Singapore Korean International School, Chatsworth International School (Bukit Timah Campus) and the Swiss School in Singapore.

Connectivity
With the Beauty World MRT station a stone’s throw away and the future integrated bus interchange at the nearby Jalan Anak Bukit project, residents of the Bukit Timah Link development will enjoy seamless connectivity to the city.

Beauty World MRT station on the Downtown Line (DTL) takes commuters directly to places such as Newton, Little India, Bugis, Suntec City, Marina Bay Sands, as well as Telok Ayer and Downtown in the central business district. A train ride to the city takes just 30 mins via the DTL.

With the announcement of the station locations of the Cross-Island Line (CRL) Phase 2 development in September 2022, it was unveiled that the King Albert Park station – just one stop from Beauty World station – will become an interchange station connecting the DTL and the CRL. This will offer improved accessibility and time savings for commuters traveling to and from the western parts of Singapore. The CRL Phase 2 stations are slated to open by 2032.

Park life
Those who love nature and outdoor activities will enjoy living in the upcoming Bukit Timah Link project. It is located at the foothills of the Bukit Timah Nature Reserve, a 163-ha reserve that includes Singapore’s highest hill, Bukit Timah Hill. According to NParks, Bukit Timah Nature Reserve was officially declared an ASEAN Heritage Park on 18 October 2011.

With the completion of the Coast-to-Coast trail, the upcoming completion of the Rail Corridor and Rifle Range Nature Park, the Beauty World area will offer plenty of rest and recreation from the rush of city life.

Still to come, an 11-km Bukit Timah-Rocher Green Corridor which will link up Bukit Timah to Kallang Riverside Park. The new linear park along the Bukit Timah Canal is envisioned as a trip through a riverine forest, with elevated sky parks and lush streetscape.

Competitive new project pricing in the city fringe
New launches in the city fringe or Rest of Central Region (RCR) have seen higher benchmark prices as of 2022 due to buoyant demand for housing and firm land prices. One of the most recent RCR project launches, Liv @ MB had achieved an average unit price of $2,400 psf during its launch in May 2022.

Likewise, we can expect launch prices at the Bukit Timah Link site to be comparable to the latest transacted prices of new projects in the city fringe and near the subject site. Based on recent new sales transactions in the vicinity (see Table 1), units at Forett at Bukit Timah and Mayfair Modern have achieved unit prices between $2,300 and $2,400 psf.

Table 1: Recent Nearby New Launch Transactions

Source: PropNex Research, URA Realis (retrieved on 4 November 2022)

About the developer
SGX Mainboard-listed Bukit Sembawang Estates Limited (BSEL) is an established and reputable developer in Singapore that was incorporated in 1967. The company focuses on property development, investment and other property-related activities. It has built some of Singapore’s most well-known residential developments including more than 4,600 landed homes in Seletar Hills, Sembawang Hills, Luxus Hills and more than 1,800 residences units in Singapore’s prime location such as District 9 and 10. Some of its recent projects include Liv @ MB, The Atelier, Nim Collection, Pollen Collection, 8 St. Thomas, and Paterson Suites.