Irwell Hill Residences review

Overview

1. Overview of 2021 Launches:

   – Introduction of Normanton Park and The Reef at King’s Dock.

   – Midtown Modern’s success with over 60% units sold on launch weekend.

2. Introduction of Irwell Hill Residences:

   – Condo’s recent introduction, just a week after Midtown Modern.

3. Juxtaposition with Midtown Modern:

   – Contrasting focus and strategies of the two recent launches.

   – Midtown Modern’s emphasis on livability in the crowded Bugis precinct.

   – Irwell Hill Residences introducing smaller, supposedly more affordable units.

4. Unit Composition at Irwell Hill Residences:

   – 80% of the 540 units are 1 to 2 bedroom units.

   – Clear focus on catering to a clientele interested in smaller units.

5. Upcoming Insider Tour:

   – Anticipation for an insider tour of Irwell Hill Residences.

Inside Tour

1. Overview:

• Introduction of Irwell Hill Residences and its location.
• Mention of potential for residential development in the hilly area.
• Showflat situated on the actual site for a better understanding.

2. Development Context:

• Description of the inclined nature of the land and its advantages.
• Privacy benefits due to the elevation and proximity to major roads.

3. Differentiation and Features:

• Notable size of the land at 137,634 square feet.
• Comparison with competing new launches (The Avenir and Trillium).
• Introduction of 2 towers of 36 storeys each, designed by Dutch firm MVRDV.

4. Design and Facilities:

• Personal opinion on the design being a bit messy but applauding the uniqueness.
• Emphasis on the standout structure amidst older condos in River Valley.
• Recognition of the wow factor lying in the stunning grounds.

5. North Site Facilities:

• Description of the single entrance via Irwell Hill.
• Information on the number of carpark lots and potential traffic considerations.
• Positive impression of the arrival plaza.

6. South Site Facilities:

• Highlight of the “Raintree Lawn” as a major selling point.
• Conservation of rain trees and their contribution to the atmosphere.
• Details on the 50m Raintree Pool and its unique features.

7. Additional Amenities:

• Introduction of various facilities like poolside cabanas, Sculpture Lounge, and more.
• Mention of the variances in height providing interesting vantage points.
• Description of the Club Pool, Tranquility Court, and the Clubhouse.

1-Bedroom + Study Unit

Unit Details:

• Description of the 1-bedroom + study unit with variations.
• Mention of balcony and unit size (495 sq ft).
• Note on different stack variations with varied study area positions.
• Standard ceiling height of 2.75 meters and marble flooring throughout.

Private Lift Lobby:

• Description of the entranceway opening up to the study room.
• Commentary on the smaller-than-usual entranceway.
• Noting the potential for shoe cabinetry and storage.

Dining Area:

• Introduction of the stowaway tabletop that serves multiple functions.
• Appreciation for intelligent implementations in 1-bedders to maximize space.
• Mention of the inbuilt system as a space-saving solution.

Kitchen:

• Overview of the open kitchen layout with concealed fridge.
• Lengthy kitchen tabletop and unique wall designs.
• Concealed spaces for washer/dryer and additional storage areas.
• Cooking appliances from Miele.

Living Room:

• Description of the compact living room size.
• Suggestion for a larger coffee table in place of the current one.
• Presence of a small balcony next to the AC Ledge.

Storage:

• Appreciation for the full-length open storage space as an ID feature.
• Note that it is an ID feature and does not come with the unit.

Bedrooms:

• Introduction of the master bedroom with limited space.
• Noting the 3-quarter-sized windows due to the AC Ledges.
• Description of the two-panelled wardrobe and additional hideaway closet.

Bathrooms:

• Overview of the master bath in a jack-and-jill layout.
• Separation of entrances with sliding and timber swing doors.
• Mention of premium fittings from Gessi and Geberit.
• Description of black shower equipment and quality surface finishings.

Overall Design:

• General commentary on the design and functionality of the 1-bedroom + study unit.
• Insight into the layout and features contributing to space optimization.

2 Bedroom Premium Unit

Unit Details:

• Introduction to the significance of 2-bedroom premium units.
• Size range (657 to 675 sqft) with focus on the smallest unit.

Entrance:

• Description of the extended entranceway.
• Noting the potential for shoe rack and storage.

Kitchen:

• Overview of the open kitchen layout.
• Mention of the possibility to ‘seal’ up the kitchen with a sliding door.
• Inclusion of Bosch fridge and freezer, built-in oven, and Miele induction system.

Dining:

• Transition to the living room with compact dining and living spaces.
• Description of dining table and bench setup.
• Commentary on the finishings of the unit, including creamy marble tile and textured walls.

Balcony:

• Showcase of the balcony with two standard-sized chairs.
• Personal consideration of extending the living area into the balcony.

Hallway:

• Introduction to the common bedroom in the hallway.

Common Bedroom:

• Description of the unique hideaway mattress (murphy bed).
• Commentary on the clever use of space and concealment of the window.
• Evaluation of space adequacy for a queen-sized bed with standard wardrobe.

Common Bathroom:

• Overview of the standard common bathroom.
• Mention of waterworks from Gessi and Geberit.

Master Bedroom:

• Description of the master bedroom size and layout.
• Noting the full-length windows and storage considerations.

Master Bathroom:

• Overview of the larger and premium-looking master bathroom.
• Mention of rain showers, jet-black shower equipment, and Gessi/Geberit equipment.

4 Bedroom Premium 

Unit Details:

• Introduction to the 4-bedroom unit, the largest regular unit in the development.
• Mention of the size range (1,539 to 1,582 sqft) and the balcony at the master bedroom.
• Noting the rarity of this unit type (6% of the entire development).

Entrance and Private Lift Lobby:

• Description of the entrance with an oval mirror, DB box, and storage.
• Highlighting the exclusive feature of a private lift for the 4-bedroom unit.

Living Room:

• Overview of the living and dining area.
• Mention of the ceiling height and marble flooring.
• Evaluation of the compact nature of the living room.

Dining:

• Description of the dining area, noting it can accommodate at least an 8-seater.
• Acknowledgment of constraints in choosing furniture.

Balcony:

• Consideration of moving the dining area to the balcony.
• Evaluation of space on the balcony for dining and lounge seating.

Common Bedroom 3:

• Description of the sizable common bedroom with space for 2 single beds.
• Noting the absence of an attached bathroom, affecting convenience.

Dry Kitchen:

• Overview of the provision of a dry kitchen as a counter hollowed out of the wall.
• Mention of the inclusion of a wine chiller and additional storage.

Wet Kitchen:

• Description of the enclosed wet kitchen with Miele kitchen appliances.
• Noting the absence of a dual sink and commenting on the ventilation window.

Yard:

• Overview of the yard area with washer, dryer, and a second entrance.
• Mention of the utility room that can double as a store or helper’s room.

Common Bedroom 2:

• Description of common bedroom 2 with an unorthodox layout and walk-in wardrobe.
• Noting floor-to-ceiling windows and layout differences from common bedroom 3.

Common Bathroom:

• Overview of the common bathroom with a jack-and-jill layout.
• Mention of the average size and the presence of a window for natural ventilation.

Common Bedroom 4:

• Description of the smallest common bedroom, positioned as a study/office area.
• Noting full-length windows and direct access to the common bathroom.

Master Bedroom:

• Overview of the master bedroom with ample space and typical side tables.
• Highlighting the private balcony and views of the rain tree lawn and pool.
• Description of the “walk-in” wardrobe and storage considerations.

Master Bathroom:

• Description of the well-sized master bathroom with a bathtub and standing shower.
• Mention of the window for natural ventilation and commentary on the marbled walls.
• Appreciation for the bronze taps and shower fittings.

Location Review – Irwell Hill Residences

Irwell Hill Residences, nestled in District 9, offers a prime location that strikes a balance between proximity to urban amenities and a retreat from the hustle and bustle. Here are some key aspects of its location:

• Closeness to Great World:
  • Located just 450 meters (about a six-minute walk) from Great World, providing easy access to the upcoming Great World MRT station (expected completion in 2022).
  • Great World City, a major mall in the vicinity, caters to retail and dining needs, featuring a revamped shopping experience with upscale stores like Meidi-Ya and Cold Storage.
• Escape from Orchard Road Noise:
  • Positioned closer to Great World than Orchard Road, offering a strategic advantage of being near the Orchard shopping belt while avoiding the notorious road noise and congestion associated with Orchard Road proper.
  • Residents enjoy the convenience of proximity to Orchard without compromising on a quieter living environment.
• Dense Urban Area Living:
  • Situated in a densely populated urban area surrounded by tall condos, reflecting a city-living lifestyle.
  • Ideal for those accustomed to the vibrancy and convenience of city living, providing a sense of energy and accessibility.
• Public Transport Connectivity:
  • Excellent public transport connectivity with the upcoming Great World MRT station within a four-minute walk.
  • Thomson East-Coast Line (TEL) connection to Orchard MRT station, ensuring accessibility to the North-South Line (NSL).
  • Outram MRT station, two stops away, provides access to the East-West Line (EWL) and North-East Line (NEL), enhancing transportation options.
• Educational Institutions and Groceries:
  • Proximity to River Valley Primary School within the 1-km radius.
  • Access to nearby grocery options such as Cold Storage at Great World City and FairPrice Finest within a 10-minute walk.
  • Several educational institutes, including preschools and international schools, add to the convenience for families.

Transportation Routes:

Public Transport	Distance & Walk Time
Opposite ERC Institute	100m, 1-min walk
Before Zion Full Gospel Church	150m, 2-min walk
After ERC Institute	160m, 2-min walk
Great World MRT Station (Upcoming)	450m, 4-min walk (Estimated)

Private Transport Routes:

Key Destinations	Distance & Peak Hour Drive Time
CBD (Raffles Place)	3.6km, 10-min drive
Orchard Road	1.5km, 5-min drive
Suntec City	3.6km, 10-min drive
Changi Airport	21.1km, 25-min drive
Tuas Port (By 2040)	37.2km, 1hr drive

Immediate Road Exits: Irwell Bank Road

Note: During peak hours, accessing Orchard via Great World MRT might be quicker than driving.

Irwell Hill Residences’ location offers a unique blend of convenience, connectivity, and an urban lifestyle, making it an attractive choice for those seeking a well-balanced living experience.

Developer Review: City Developments Limited (CDL)

With a rich history dating back to 1965, City Developments Limited (CDL) has established itself as a prominent and versatile developer in the real estate industry. Over its 55 years of operation, CDL has played a significant role in shaping landscapes across 29 countries, contributing over 24 million square feet of residential, hospitality, and commercial developments.

CDL’s portfolio showcases its adaptability, ranging from prime region properties like Haus on Handy to more mass-market projects such as Penrose and Piermont Grand, an Executive Condominium in Punggol. The developer’s versatility is evident in its ability to cater to diverse market segments, making CDL a familiar name in various districts of Singapore.

Noteworthy among CDL’s achievements is the development of Sengkang Grand Residences and the accompanying Sengkang Grand Mall. This project, executed in collaboration with CapitaLand, stands out as a significant contribution to the residential and retail landscape.

Currently, CDL is engaged in a joint effort with CapitaLand and Ascott Residence Trust for the redevelopment of the former Liang Court, demonstrating its commitment to innovative and transformative projects.

CDL’s extensive and varied portfolio, coupled with its global footprint, attests to its prowess as a developer capable of delivering quality projects across different markets and segments. Whether in prime regions or emerging districts, CDL’s presence remains a testament to its enduring impact on the real estate landscape.

Price Review: Irwell Hill Residences New Launch Comparisons

Data from October 2020 – March 2021

Project	Tenure	1-Bedroom Size	2-Bedroom Size
Martin Modern	Leasehold (Sep 2016)	None Available	None Available
			$2,015,182 ($2,637 psf) 764 sqft
Riviere	Leasehold (Mar 2018)	$1,513,142 ($2,703 psf) 560 sqft	$2,075,691 ($2,537 psf) 818 sqft
RV Altitude	Freehold	None Available	$1,314,880 ($2,979 psf) 441 sqft
The Avenir	Freehold	$1,593,050 ($2,960 psf) 538 sqft	$2,494,571 ($3,010 psf) 828 sqft
Irwell Hill Residences	99 yrs from 13/04/2020	$99x,000 ($2,5xx psf) 398 sqft	$1.1x m ($2,6xx psf) 452 sqft
			$1.4x m ($2,4xx psf) 603 sqft

Comparisons and Analysis:

• Competitive Pricing Strategy:
  • Irwell Hill Residences’ 1-Bedroom + Study and studio units boast a 30–40% lower indicative price compared to Riviere.
  • The 2-Bedroom unit offers a quantum difference of over $500,000 compared to Martin Modern and Riviere.
  • Advantageous lower land cost of $1,515.10 psf ppr for Irwell Hill Residences contributes to its competitive pricing.
• Investor Benefits:
  • Lower overall quantum facilitates meeting financing requirements, making it more accessible for buyers.
  • Potential for higher yields due to a more palatable downpayment, coupled with staggered new launch financing timelines.
• Public Transport Access:
  • Irwell Hill Residences holds a locational advantage with a significantly shorter walk to Great World MRT compared to Riviere and Martin Modern.
  • Well-connected with nearby bus routes and proximity to major MRT stations like Orchard and Outram.
• Facility Offering:
  • Irwell Hill Residences provides full-fledged facilities, including a tennis court, setting it apart from Riviere.
  • The development’s elevation, though slightly higher than the road, may mitigate noise concerns.
• Rental Yield Considerations:
  • Irwell Hill Residences is positioned for competitive rental yields based on its pricing, facilities, and convenient location.
  • Despite potential noise considerations, the combination of better commute convenience and smaller rental quantum makes it an attractive offering.
• Comparison with Freehold Developments:
  • Irwell Hill Residences stands out in age, being at least 10 years newer than the newest freehold development available in the price range.
  • Offers comparable prices to older freehold condos with fewer facilities, presenting a compelling value proposition.
• Long-Term Considerations:
  • While optimistic for short-term rental returns, Irwell Hill Residences may face challenges against freehold peers in the long run.
  • Investors should weigh the trade-off between leasehold and freehold status for a well-priced, full-fledged facility development.

Resale Comparisons:

Data from Jan 2020 – Mar 2021

Projects	Tenure	Average Price	Average $PSF	Size (sqft)	Rent	Yield
Attitude at Kim Yam	999 yrs from 01/07/1841	$720,000	$1,967	366	$2,066	3.44%
Vivace	999 yrs from 01/07/1841	$760,000	$1,961	388	$2,267	3.58%
Espada	Freehold	$928,000	$2,613	355	$2,423	3.13%
Illuminaire on Devonshire	Freehold	$940,000	$2,130	441	$2,569	3.28%
Irwell Hill Residences (Studio)	99 yrs from 13/04/2020	$99x,000	$2,5xx	398	– (New Launch)	– (New Launch)
Leonie Suites	99 yrs from 07/01/2002	$1,025,000	$1,488	689	$2,954	3.46%
Irwell Hill Residences (1+S)	99 yrs from 13/04/2020	$1.1x m	$2,6xx	452	– (New Launch)	– (New Launch)
Devonshire Residences	Freehold	$1,108,800	$2,239	495	$2,703	2.93%
Killiney 118	Freehold	$1,120,000	$1,963	570	$2,728	2.92%
The Boutiq	Freehold	$1,120,000	$2,214	506	$2,826	3.03%
Robertson Edge	999 yrs from 01/07/1841	$1,164,000	$1,690	689	$3,000	3.09%
OUE Twin Peaks	99 yrs from 10/05/2010	$1,220,000	$2,222	549	$3,241	3.19%
Starlight Suites	Freehold	$1,250,000	$2,233	560	$2,744	2.63%
2 RVG	Freehold	$1,268,000	$1,841	689	$2,830	2.68%
Martin Place Residences	Freehold	$1,331,

Appreciation Analysis: Irwell Hill Residences

Irwell Hill Residences, situated in District 9, stands out as a well-located condominium offering favorable pricing for its prime location. Being in close proximity to an MRT station (Great World MRT), it aligns with the trend of properties in such areas experiencing appreciable gains.

While the future Great World MRT station is anticipated, its impact on pricing may already be reflected, tempering the potential for a significant surge upon its completion.

Examining the URA Master Plan reveals that Irwell Hill Residences is surrounded by dense residential zones, and a nearby reserve site indicates ongoing development in the vicinity. The abundance of residential options poses competition for both tenants and future buyers.

A potential concern lies in Irwell Hill Residences being a leasehold property amidst freehold counterparts, a factor that can influence appreciation. However, being a new and visually appealing development in an area with older counterparts, it enjoys a competitive edge.

The upcoming rejuvenation of the Orchard/Paterson area, with planned enhancements and mixed-use developments, presents opportunities for further growth and increased desirability. The transformation of precincts like Tanglin, Orchard, Somerset, and Dhoby Ghaut, along with elevated link-bridges and new vantage points, adds to the positive outlook.