Located within the Holland locality, an expatriate enclave since the early 1900s, is Leedon Green. Taking over the old Tulip Gardens site along Farrer Road, it is sited adjacent to d’Leedon and Leedon Residences. Its Freehold status draws the large crowd to this project, and is exclusive to district 10.

From the site plan and brochures, Leedon Green’s premise embraces greenery amongst luxury, which is a trend for both the local and overseas market.

For those looking for PropertyLimBrother’s recent video on this and even our showflat walkabout, do check it out below.

• Tenure: Freehold

• Area: District 10/ Bukit Timah

• Total Units: 638

• Pros:

  • Communal Spaces

  • Great mixture of unit types

  • Quality interior designs and fittings

  • Commendable location

• Cons:

  • Units are smaller than older developments

  • 10-min walk to MRT

  • Lack of sheltered walkways

  • Some units are close to Farrer Road – Traffic noise

 

Sited in the Core Central Region (CCR), it is a 12-minute drive to the Orchard Road Belt, lesser than 3 km to Holland Village, and Dempsey Hill is kind of your backyard. Botanic Gardens is also a 8-minute drive for those nice morning strolls.

What began as an en bloc of Tulip Gardens by two developers Yanlord and MCL Land has brought about an exceptional resort-like residence with water gardens, landscaped terraces and a wholesome ambience.

About the Developers

MCL Land has around 50 years of Experience under its belt. Completed projects include J Gateway, LakeView, Hallmark Residences, Ripple Bay and Terrasse.

Yanlord has their hands deep into luxury homes, and renowned more particularly in Shanghai.

The total Land Size: 316,000 sqft, or roughly 5 soccer fields.

Plot Ratio: 1.6. This is about the same as Leedon Residences.

From the estimated breakeven of $2,444 PSF PPR, it’s apparent that the overall quantum is on the higher range.

No. of Levels: 12 Floors

Total number of units: 638

Estimated Completion: 2023

It’s not too packed, compared to the usual 1000+ unit developments. It’s considered a decent size, as majority of the en bloc plots in the sector are boutique-sized.

The Water Lounge features cascading waterfalls, and is one of Leedon Green’s most notable features. A Sky Terrace Bar, Tree Top Walk, tennis court and four swimming pools.

The residences is rather spacious, which is pretty hard to come across for CCR regions.

 

Accessibility and Amenities

The closest MRT is Farrer Road, which is a 10-min walk or a bus stop away.

Farrer Road connects to PIE and AYE in 4 minutes 10 minutes respectively. However, rush hour traffic will definitely affect the frequent traveller.

Leedon Green is spoilt for eateries, from hawker delicacies at Empress Market , Holland Village, Dempsey Hill. Alternatively, Singapore’s heritage site Botanic Gardens will be great for family chill out weekends.

 

Schools

In Singapore, priority of entering a primary school is based on locality.

Renowned primary schools:

Nanyang Primary School – 0.96km (from stack 26)
Raffles Girls’ Primary School – 1.8km

Leedon Green is within close proximity to excellent schools, which is ideal for families and investors alike.

Secondary Schools:

Anglo-Chinese School International – 0.82km

St. Margaret’s Secondary School – 1.05km

Hwa Chong International School – 1.41km

Nanyang Girls High School – 1.90km

Junior College:

Hwa Chong Institution – 1.30km

National Junior College – 1.87km

Future Developments

Cold Storage, Guardian Pharmacy and independent movie theatre The Projector have confirmed their tenancy in One Holland Village’s commercial zone, which will be beneficial to the Leedon Green’s appreciation.

Fittings

All the residences are finished with designer brands such as Hansgrohe AXOR fittings, Ernestomeda ’s Italian cabinets, Liebherr fridge, VZUG washer + dryers and Antoniolupi — synonymous with state of the art quality and modern precision.

About the development

From the site plan and brochures, Leedon Green’s premise embraces greenery amongst luxury, which is the trend of both local and overseas.

Unit Types

There are nine layout variations which you can take a look at below. Do note that these are the general layouts, and if you are keen, do contact PropertyLimBrothers here.

The current profile of buyers are generally the ones looking to buy larger units, but entering district 9 and 10 via a smaller quantum isn’t a bad idea either.

The 1-bedroom and study is from 538-678 sqft, with a total quantum of $1.5 mil. There are starbuys, so you might want to check those out going at a lower price point.

Disparity Effect

If you’re looking at the 3-bedroom | 1356- 1604 sqft, our suggestion is to go for the 4-bedroom exclusive | 1496-1744 sqft, due to how close the total quantum are to each other. The 3-bedroom exclusive is going at $3.5-3.7 mil, whereas the 4-bedroom exclusive is going for $3.8-4+ mil. The disparity is too thin, and your exit strategy may be affected. Think about it, a future buyer will be thinking the same thing, and might opt for a larger layout due to the proximity of the total quantum. That is, if that is to your taste. If you would like to find out more which quantum might be the right choice, feel free to enquire more here. Meanwhile, here are our suggestions for best stack choice.

 

Stack Analysis

 

If you are keen on the 1-bedders, you might want to take a look at stacks 8, 25, 32 and 33. They are going at $1.3-$1.4 mil, are inward facing and has a north-south orientation; ensuring minimal sun exposure. It is also closer to the side gate for commute.

Same goes for stacks 1, 4 and 5, due to the same reason for the 2-bedders. Stack 24 is pool-facing and starts at $1.58 mil. Stack 40 has the corner benefits, and is better utilised as investments

The 3-bedroom at Stack 56 faces Leedon Heights, is a lot quieter, and starts at $2.3-2.4 million, which is a decent quantum. If you have a family of 3-4 and would like to be within the 1km range for Nanyang Primary, Stack 6 falls within that perimeter.

4-bedroom exclusive’s Stack 2 also falls within the 1km radius of Nanyang Primary, and has an almost north-south orientation to give good ventilation and reduced direct sunlight. For commuters, Stack 57 is closer to the side gate, Grand Pool and Drop-off area.

Comparative Analysis

Pricing wise in the sector, the average for Leedon Green is $2,624 PSF, whereas the lowest selling price is $2,441 PSF. The highest is $2,863 PSF.

Compared to the surrounding area, you will find majority of the residences are Freehold. But if you compare it against Wilshire Residences (read further for a drawn out analysis), the land size is slightly smaller, with the same completion year. The units are also a tad smaller, but the development has its own benefits of its own. 15 Holland Hill is also going at a competitive $2840 PSF.

Here’s the list of the Average PSF in the vicinity:

Holland Peak: $1463 PSF

Holland Hill Park: $1492 PSF

D’Leedon: $1601 PSF [99 year from 2010]

Viz at Holland: $1625 PSF

Spanish Village: : $1604 PSF

The Levelz: : $1658 PSF

Sommerville Park: $1685 PSF

Parvis : $1802 PSF

The Enclave . Holland: $1848 PSF

Leedon Residence: $2276 PSF

Wilshire Residences: $2550 PSF (incomplete)

Leedon Green: $2624 PSF (incomplete)

15 Holland Hill: $2897 PSF (incomplete)
Accurate as of 27th Nov 2020, courtesy SquareFoot

Let’s compare Leedon Green against Wilshire Residences, with the same expected completion year. It is also a decent comparing due to its close proximity to our subject in question. Though a slightly cheaper alternative, you do give up a little on communal spaces.

 

 

As a smaller estate size, the amenities land space naturally reduces as well. The total unit count is a lot lesser. Speaking of size, the size of a 3-bedroom at Wilshire Residences is comparable to a 2-bedroom + study unit at Leedon green, though the comparison between the 1-2 bedroom units of the comparative developments are similar in size.

EXIT PLAN:

We cannot stress the importance of an exit plan for both home buyers and investors. Knowing how you will exit the property will help keep your options open while keeping your end goal in mind. This would be essential in helping you achieve your financial goals as it takes emotion out of the picture.

While there is no hard and fast way to formulate an exit plan, there are a few things to help inform your decision.

• What are the developments in the surrounding region that can support growth?

  • Cold Storage, Guardian Pharmacy and independent movie theatre The Projector have confirmed their tenancy in One Holland Village’s commercial zone, which will be beneficial to the Leedon Green’s appreciation.

• New Launches?

  • Other new launches in the region that stand in the limelight include Van Holland Residences and One Holland Village, which will be completed in 2026 and 2024 respectively. With Singaporeans making up the majority of the buyers and under half from district 10 and 11, the region’s appeal is undeniable.

  • Furthermore, the presence of these new launches with higher asking prices can potentially drive up prices of Leedon Green.

  • If you are considering between Leedon Green and other new launches such as One Holland Village, one question you must ask yourself is whether the additional $500k price point is worth it, and think about the amount of things you can do with that money.

• What are the trends in the region?

  • About two-thirds of new launches in Singapore are in the Central Region (both CCR and RCR). With more than double the launches compared to 2019, there is a “slower demand and a supply overhand from existing launches”.

  • However, according to Business Times, the CCR property market still remained active in the first 5 months of 2020. Despite the current economic downturn due to Covid-19, there is still underlying demand for CCR properties from foreign buyers (including PRs). The bulk of this demand stems from Chinese citizens and using history as a guide, foreign buyers will return when market condition stabilises and new projects are launched.

  • Furthermore, past records have shown that prices in this region remain generally stable and experienced steady rise in the long run.

• When is a good time to exit? 3 years or longer?

  • A good time to exit will likely be 3 years or longer, considering the current market conditions due to Covid-19.

• What kind of tenants will it attract?

  • The presence of many educational institutions will likely attract expatriates who have a family in Singapore.

  • With its proximity to central Singapore, Leedon Green provides a cheaper alternative in comparison to Orchard, ensuring strong demand in the region.

  • Leedon Green is relatively high end, and will likely cater to expatriates with bigger housing allowances. The risk that follows would be cuts in such allowances during economic downturn.

Verdict

Ultimately, it is a matter of space preference. You’re paying for a full-scale development with wide variety of facilities, and if you’re not the sort to use the in-house facilities, then you’ll be paying just for its location. Leedon Green is also replete with communal spaces and greenery for evening walks, so our frank opinion is to knowingly buy into that lifestyle.

If you’re looking for a brand new high-end apartment, then this will be a pretty good option compared to the surrounding resale . You will need to deduce if quietness is a dealbreaker, as you can save significantly with an outward facing unit. Alternatively, we suggest going for the best stacks to capitalise on the rarity of the units. Doing so will maintain a strong
exit strategy.

For investors, Leedon Green caters to a market of expats wishing to stay close to the city centre, while paying a proportionally lower price. The pool of tenants will include international students and expats who work at the city centre, One North/Biopolis or Jurong International Business Park. This makes it less likely for your property to remain vacant, making Leedon Green a
safer investment.

If you wish to cater to single bachelors or students, smaller units of 1-2 bedrooms will be best for this target group.

However, if you wish to sell the unit eventually, then larger units will be more appropriate. As 1-2 bedroom units can be commonly found within Leedon Green and in the surrounding vicinity, it is best to avoid such
stiff competition.

In terms of new launches, the PSF for new launches are generally higher than resale developments, due to its land price. But you will be buying into a brand new 1-year defect warranty, with a modern design.

It’s pretty easy to make a purchase, but the real problem arises with the lack of planning ahead. That’s the majority of issues buyers face when they’re looking to sell after a few years. Here at PropertyLimBrothers, we encounter countless cases such as these, but our belief is that “if it can be sold by a developer, it definitely can be sold in the resale market.” There’s never going to be a perfect unit. Every unit has its pros and cons, and you have to know that. If you would like a more detailed analysis and are interested in Leedon Gree
n to make an informed decision, do contact PropertyLimBrothers here.