99.co new launch review – Park Place Residences

Park Place Residences, located at 2, 6, and 8 Paya Lebar Road, is a project comprising of 429 luxury apartments developed by Lendlease. This project, which has a tenure of 99 years and an expected TOP date of 31st December 2020, is part of a larger mixed used commercial development, Paya Lebar Quarter.

Developer details

Whilst Lendlease might not be a household name when it comes to private property in Singapore, the developer has a strong portfolio of commercial projects, including JEM, 313@Somerset, and Parkway Parade. Forming a consortium with Abu Dhabi Investment Authority to bid on the mixed development, Lendlease won the bid at $1.67 billion.

Development details

Park Place Residences will comprise of three 17 storey tall towers, with the first storey being occupied by retail shops. Other than Park Place Residences, Paya Lebar Quarter is made up of 3 Grade A office towers, as well as a retail mall spread over 340,000 square feet. Currently, Lendlease has mentioned that only 40 percent of the units will be released for purchase upon launch.

Breakdown of units

The average psf of Park Palace Residences is expected to be $1,600.

Unit Type	Floor Size (Sq Ft)	Number of units	Expected launch price
1 BR	480 – 580	117	$780,000 – $960,000
2 BR (Inclusive of premium and dual key)	650 – 900	234	$1 mil – $1.4 mil
3 BR	1,050 – 1,350	78	$1.6 – $2.2 mil

Site plan

Stacks 23, 24, 31-33, and 14-20 are outward facing with the closest proximity to Sims Avenue and Paya Lebar Road – meaning the units in these stacks will face more traffic noise. Apart from being subjected to more noise, stacks 14-20 will also be hit the worst by the dreaded afternoon sun.

For closest proximity to Paya Lebar Quarter’s retail mall, or Paya Lebar MRT, opt for stack 31. This is right next to an elevated pedestrian network which will bring you to the mall and train station. If you prefer being in close proximity to the office towers, go for stacks 26-28 instead.

Comparative projects

Sims Urban Oasis – 403 / 1024 units left, average $1,399 psf.

Sims Residences – average $835 psf.

Grandlink Square – average $1,088 psf.

Esta Ruby – average $1,362 psf.

The Amarelle – average $1,417 psf.

Katong Regency – average $1,837 psf.

City Plaza – average $1,151 psf.

A closer look within Park Place Residences

Residences of Park Place Residences can expect plenty of lush landscaping, including vertical gardens. Designed with sustainability in mind, the project also incorporates the Public Utilities Board’s (PUB) Active Beautiful Clean Waters design principles. Park Place Residences is currently undergoing certification for the BCA GreenMark Platinum rating.

A wider look around Park Place Residences

As the Park Place Residences and Paya Lebar Quarter fits into part of a bigger initiative by the Urban Redevelopment Authority (URA) to redevelop Paya Lebar, residents can expect to be at the centre of action.

The mall within Paya Lebar Quarter, once built, will be one of the largest entertainment and retail precincts in the East; however, those who want a little more variety can easily venture further to Katong and Joo Chiat heritage towns.

With Park Place Residences being connected to the rest of the island via the Pan Island Expressway, the East Coast Parkway and the Nicoll Highway, getting around is hassle-free. By car, Park Place Residences is a mere 10 minutes away from the CBD, Changi Business Park, and Marina Bay and 6 MRT stops away from Changi Airport.

There are also plenty of primary, secondary and tertiary institutes in the area. In particular, both Kong Hwa School and Tanjong Katong are less than 10 minutes away by car. Victoria Junior College and Temasek Polytechnic, both reputable schools, are 15 minutes away by car.