{"id":9238,"date":"2017-03-02T04:40:15","date_gmt":"2017-03-01T20:40:15","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=9238"},"modified":"2022-07-01T04:06:15","modified_gmt":"2022-06-30T20:06:15","slug":"new-launch-review-park-place-residences","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/new-launch-review-park-place-residences\/","title":{"rendered":"99.co new launch review \u2013 Park Place Residences"},"content":{"rendered":"
<\/div>
\"Paya
Paya Lebar Quarter and Park Place Residences – Residential towers, office blocks, and a retail mall – all in one<\/figcaption><\/figure>\n

Park Place Residences<\/span><\/a>, 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.<\/span><\/p>\n

Developer details<\/strong><\/h3>\n

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.<\/span><\/p>\n

Development details<\/strong><\/h3>\n

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.<\/span><\/p>\n

Breakdown of units<\/strong><\/h3>\n

The average psf of Park Palace Residences is expected to be $1,600. <\/span><\/p>\n\n\n\n\n\n\n
Unit Type<\/strong><\/td>\nFloor Size (Sq Ft)<\/strong><\/td>\n\u00a0Number of units<\/strong><\/td>\n\n

Expected launch price<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

1 BR<\/span><\/p>\n<\/td>\n

480 – 580<\/span><\/td>\n117<\/span><\/td>\n$780,000 – $960,000<\/span><\/td>\n<\/tr>\n
\n

2 BR<\/span><\/p>\n

(Inclusive of premium and
\ndual key)<\/p>\n<\/td>\n

650 – 900<\/span><\/td>\n234<\/span><\/td>\n\n

$1 mil – $1.4 mil<\/span><\/p>\n<\/td>\n<\/tr>\n

3 BR<\/span><\/td>\n1,050 – 1,350<\/span><\/td>\n78<\/td>\n\n

$1.6 – $2.2 mil<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Site plan<\/strong><\/h3>\n

\"\"<\/p>\n

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. <\/span><\/p>\n

For closest proximity to Paya Lebar Quarter\u2019s 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.<\/span><\/p>\n

Comparative projects<\/strong><\/h3>\n

Sims Urban Oasis<\/span><\/a> – 403 \/ 1024 units left, average $1,399 psf. <\/span><\/p>\n

Sims Residences<\/span><\/a> – average $835 psf.<\/span><\/p>\n

Grandlink Square<\/span><\/a> – average $1,088 psf.<\/span><\/p>\n

Esta Ruby<\/span><\/a> – average $1,362 psf.<\/span><\/p>\n

The Amarelle<\/span><\/a> – average $1,417 psf.<\/span><\/p>\n

Katong Regency<\/span><\/a> – average $1,837 psf.<\/span><\/p>\n

City Plaza<\/span><\/a> – average $1,151 psf.<\/span><\/p>\n

A closer look within Park Place Residences<\/h3>\n

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\u2019s (PUB) Active Beautiful Clean Waters design principles. Park Place Residences is currently undergoing certification for the BCA GreenMark Platinum rating.<\/span><\/p>\n

A wider look around Park Place Residences<\/strong><\/h3>\n

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

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 <\/span>Katong<\/span><\/a> and <\/span>Joo Chiat<\/span><\/a> heritage towns.<\/span><\/p>\n

<\/p>\n

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.<\/p>\n

<\/p>\n

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. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Park Place Residences is a part of Paya Lebar Quarter, a new mixed use development located next to Paya Lebar 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