For those who live in the eastern part of Singapore, especially Bedok area during the 90s and 2000s, you must have been to or heard of Changi Theatre or Bedok 1 & 2 cinema theatres.
These are the 2 cinema theatres out of the 4 in Bedok area. The other 2 being Liwagu and Princess Theatre.
Changi and Bedok Theatres were demolished in the early 2000s and redeveloped into a shopping mall Bedok Point. Just some fun fact... Bedok Point is actually the first air-conditioned mall in Bedok until Bedok Mall came along in 2013!
On 1 July 2021, it was announced that Bedok Point will cease operation on 30 June 2022 and developed into a residential development with commercial units on the ground floor. And this development is Sky Eden.
In this article, we will dive deep into District 16 and review this upcoming condo Sky Eden.
Location of Sky Eden
District 16 includes Bedok, Upper East Coast, Tanah Merah, Bayshore and Bedok Reservoir areas. It is a popular residential area.
Sky Eden is conveniently located in Bedok Central. It is a 3-minute walk from the Bedok MRT station and bus interchange, where Bedok Mall and Bedok Residences is located.
Transport Accessibility
Sky Eden has superb transport accessibility as it is within 3 minutes walking distance to the Bedok MRT and Bus Interchange.
For those taking MRT, it is just 9 stops to Raffles Place MRT station. This brings you to the Central Business District (CBD) of Singapore.
And if you are a frequent traveller, you are only 3 stops away from the Changi Airport MRT station!
For those who prefer to take the bus, Bedok Bus Interchange is part of the Bedok Integrated Transport Hub, which links to the Bedok MRT station and Bedok Mall.
There are plenty of bus services bringing you to other parts of Singapore like Pasir Ris, Tampines, Toa Payoh, Sengkang, Clementi, Orchard etc.
Surrounding Amenities
One of the strongest attributes for Sky Eden is the location and how convenient it is.
Situated at the heart of mature estate Bedok Central, it is surrounded by eateries, supermarkets, shopping mall and other amenities.
Right next to Sky Eden is the famous Bedok Interchange Hawker Centre that has served local food to residents staying in that area for decades.
Within a 5-minute walk from Sky Eden is where Heartbeat @Bedok is. Play a game of badminton or tennis with your friends after work, or have a leisure swim before heading home. Bedok Public Library and Bedok Polyclinic is also located here.
And of cos, take a 3-minute walk to Bedok Mall and you can get almost everything you need without going to town!
It is really so convenient to be living in Sky Eden!
Nearby Schools
Bedok estate is a mature estate where many families with school-going children lives.
What is of concerned to many parents is the primary schools that are located within 1km of Sky Eden. This is important as distance from where they stay to their choice school affects the chances of their children getting to that school.
Primary Schools Within 1km of Sky Eden
How about secondary schools and tertiary institutions?
Anglican High, St. Anthony's Canossian, Temasek Secondary/JC, Victoria School/JC, Singapore University of Technology and Design are nearby.
About Sky Eden
The Developer
Fraser Property Singapore is a strategic business unit of Frasers Property Limited, which is a listed company on SGX.
Fraser is a reputable developer who owns, develops and manage residential, office, retail as well as business space and business park in Singapore.
They have developed more than 21,000 homes. Fraser oversees a portfolio of 13 shopping malls, 7 office, business space and business park properties.
Some of the residential properties that Fraser developed include Northpark Residences, Waterfront Isle, Waterfront Key, Seaside Residences and the more recent Riviere and Parc Greenwich.
Project Information
Address | 1 Bedok Central Singapore 469657 |
Developer | Chempaka Development Pte Ltd (under Fraser Property Singapore) |
Description | Proposed residential development comprising of 1 block of 17-storey apartments with commercial at 1st storey, 2 basement carparks and communal facilities. |
Tenure | 99 years leasehold commencing on 5 January 2022 |
Site Area | 4,136.6 sqm / 44,526 sqf |
Plot Ratio | 3.5 |
No. of Levels | 17 |
No. of Residential Units | 158 |
No. of Commercial Units | 12 |
Unit Mix
Unit Type | Typical Size | No of Units |
2-Bedroom Deluxe | 657sqf | 16 |
2-Bedroom Premium | 689sqf to 743sqf | 48 |
3-Bedroom Deluxe | 893sqf | 32 |
3-Bedroom Premium | 1087sqf | 46 |
4-Bedroom Premium | 1302sqf | 16 |
Site Plan
There are 2 towers in Sky Eden, namely the North and the South Tower.
The North Tower consists mainly 3-bedroom units (stack 01, 02, 03 and 05). The remaining stack is 2-bedroom units (stack 04).
The South Tower consists mainly the 2-bedroom units (stack 06, 07 and 08). There is also 1 stack of 3-bedroom units (stack 10) and 1 stack of 4-bedroom units (stack 09).
Facilities are located on level 2, while there are garden bridges linking the 2 towers from level 3 to 17.
Floor Plan
There are 3 layouts each for the 2-bedroom and 3-bedroom units, and 1 layout for the 4-bedroom units.
For the 2-bedroom units, the main difference among the layouts is that the B1 layout has only 1 bathroom, whereas B2 and B3 layout has 2 bathrooms.
Also B1 and B2 layouts are dumbbell layout, which many feel is a more efficient layout. However, B3 is the more conventional condo layout, with bedrooms on one side of the unit thus providing more privacy to owners.
For the 3-bedroom units, the main difference between the C1 vs C2 and C3 layout is that there are no home-shelter and WC in the yard area.
C3 layout is located in Stack 10, and offers owner a nice pool view.
There is only 1 stack of 4-bedroom unit. It is located in Stack 09 facing the pool.
This 4 bedroom layout is reasonably sized at 1,302 sqf. The unit comes with a dry and wet kitchen. It also has a good size master bedroom and ensuite junior master.
Showflat
Check out this video of Sky Eden's showflat.
Sky Eden is having the showflat preview from 27 Aug 2022 to 6 September 2022. Let me know if you would like the brochure and book a slot to view the showflat.
Comparative Price Analysis of Sky Eden
As per all launches, developers will only provide the guide price for Sky Eden nearer to launch date.
As a comparison, let's look at the prices of comparative developments near Sky Eden.
(1) Bedok Residences
The closest comparative development is Bedok Residences.
Bedok Residences is situated just 3 minutes away from Sky Eden. It is part of an integrated development with 583 residential units, Bedok Shopping Mall and a transportation hub linked to Bedok MRT station.
Bedok Residences is a 99-years leasehold development, with lease starting 2011. It received TOP in 2015.
Average Transacted Price
From the chart above, we can see that prices for Bedok Residences in 2022Q2 average $1,576psf.
Prices for Bedok Residences increased almost 22% over the past 10 years. This project was highly sought after during the launch in 2011 and sold more than 60% on the same day it was launched.
(2) Grandeur Park Residences @ Tanah Merah
Grandeur Park Residences is situated nearer to the Tanah Merah MRT station. It is about 5 minutes drive from Sky Eden.
This development is the newest among those in the Tanah Merah area, receiving its TOP in 2021. It is a 99-year tenure condo, with the lease starting 2016. There are a total of 720 residential units.
Average Transacted Price
The average transacted price for Grandeur Park Residences is $1,626psf for 2022Q3.
Since the development launched in 2017, prices increased close to 17%. This condo is one of the best performing condo in the Tanah Merah area.
Related Reading: District 16 @ Tanah Merah - Which Property Should I Invest In?
(3) Sceneca Residence @ Tanah Merah
Sceneca Residence is located directly opposite the Tanah Merah MRT Station. It is a 99-year tenure site with a land size of 95,587sqf.
Sceneca Residence is a mixed-development site. It is zoned residential with commercial on the 1st storey. The commercial portion has been named Sceneca Square.
The developer for Sceneca Residence / Sceneca Square is MCC Land. It won the tender for this GLS land, beating 14 other developers who have also submitted their bids.
MCC Land's winning bid of $248.99m translates to $930.34psf per plot ratio (ppr).
The estimated breakeven cost for Sceneca Square/ Sceneca Residence work out to be in the $1,480 to $1,540psf range, according to Nicholas Mak, head of research & consultancy at ERA Realty,
Estimated launch price for this project is $1,700 to $1,800psf.
So at what price will Sky Eden be launched at?
Looking at the pricing of these comparative developments, we feel that Sky Eden will be launched at slightly above $2,000psf.
Interested to know the price of the units, drop me a whatsapp and I will update you once we have the price list!
Conclusion
Bedok is one of the largest mature residential estate in Singapore. It is home to approximately 280,000 residents.
The last major new condo launch in District 16 was Grandeur Park Residences in 2017. With no new launches here for the past 5 years, there is a pent-up demand from existing home buyers for new homes in this district.
Sky Eden is located at a strategic location in Bedok Central, where existing supply is very limited. There is only 1 existing condo, Bedok Residences located in Bedok Central.
Owners for Bedok Residences are holding tight to their assets. In 2022, there were only 12 units transacted till date.
Sky Eden is definitely a property worth considering whether for own stay or investment. However, as per all other investments, a lot is dependent on the price developer is looking at.
Want to know more on Sky Eden or any other property related matters? Let's chat!
Related Readings:
About The Author
Vivian joined the real estate industry in 2002.
Over the past 2 decades, she has worked with many clients on their real estate journey. She is well-versed in both HDB and private properties, as well as property investment solutions like part-purchase (decoupling), buying under trust and the different types of mortgage strategies.
Vivian is active in District 15 and 16, and it is easy to find her in the East Coast area stretching from Tanjong Rhu to Bayshore.
Read more about her: www.vivianchong.sg
Comments