Coastline Residences New Launch Condo Review – Epitome of Contemporary Coastal Living

TL;DR Coastline Residences is the epitome of contemporary coastal living. This rare freehold condominium will appeal to a group of homebuyers who prefer more private and exclusive residential development. One unique feature about this iconic development is there is a sky promenade at all levels linking neighbouring units from 2 towers. To top it off, some of the units at Coastline Residences offers the coastal views overlooking the East Coast Beach.

The Development

Coastline Residences is the epitome of modern coastal living. It’s not just a place to call home, but an establishment built for residents to indulge in serenity. With supply of freehold land declining, this new freehold condominium close to the upcoming MRT station is rare. Given its unique locality, we expect it to command a price premium as compared to other residential development in the area. So how is Coastline Residence performing as a property investment? It can also be purchased for your own stay. In any case, we will review this rare freehold condominium in this article.

Before we do that, let’s take a look at some of the key attributes this development has to offer. Coastline Residences is a freehold development along Amber Road at the popular District 15. Consisting of 2 residential towers – a sea-facing tower and a city-facing tower, Coastline Residences offers 144 units of 1 Bedroom, 2 Bedroom and 3 Bedroom. Located just a short stroll away to Parkway Parade mall and the Tanjong Katong vicinity, Coastline Residences is also close to numerous prominent schools and the famous Katong food haven.

The Coastline Residences also boast units with unobstructed sea views. For those who drive, this development is accessible via ECP, KPE, PIE, AYE and has excellent connectivity. It is also approximately 5 minutes’ walk to the future Tanjong Katong MRT station of the upcoming Thomson-East Coast Line, and minutes’ drive to Central Business District and Marina Bay Financial Centre.

The key highlight of staying at Coastline Residences is that the East Coast Beach is just a stone’s throw away from the residential development. If you are looking at the architecture of this development, it draws direct inspiration from the surrounding blue sea. Consisting of a 21-storey building, it offers a boundless sea view, the perfect home for home seekers who love nature, beach and sunrise.

Location Analysis

 

Coastline Residences is located Tanjong Katong Planning Area, East Coast region of Singapore. It is one of the favoured private residential areas. The plot is located along Amber Road and is near to the junction of Amber Road and Tanjong Katong Road. Coastline Residences is found amidst Amber Point and Orchid Mansion and is opposite of 16 @ Amber. The site of Coastline Residences previously belonged to Parkway Mansion, a 17 storey development that comprised 32 apartment units. It was successfully acquired by SL Capital (3), a consortium led by Sustained Land in a collective sale exercise in December 2017. The land size of Coastline Residences is approximately 3,620.9 sqm and with a gross plot ratio 2.8.

Video source: SRX, https://youtu.be/WBpfYj2lgWM

Located within 2 km is also the Tao Nan School, Ngee Ann Secondary School and Katong Convent Secondary School.

Summary of Amenities

 

Project Details

Description: Coastline Residences, former Parkway Mansion

Developer: SL Capital (3) Pte Ltd

Tenure: Freehold

Address:  9 Amber Road (S) 439854

Land size: 38,975 sq ft

Estimated Completion Date: TBC

Total Units: 144 units

Carpark: Basement Carpark

Car Park Lots: 145 + 3 handicap Lots

Site Area: 3,620.9 square-metre

Developer Profile and Track Record

It is jointly developed by Sustained Land, Ho Lee Group, Goodland Group, Kwong Lee Land.

Sustained Land PTE LTD

Founded in 2006, Sustained Land who is the developer of Coastline Residences, is a Singapore based property developer that is majorly involved in the development of residential properties. Although the company is under private ownership, it has shares in Sysma Holdings Ltd that is listed in SGX.

Since its inception in 2006, it has since developed more than 2,500 residential units, affirming its reputation as one of Singapore’s premier property developers.

Coastline Residences joins Sustained Land’s iconic residential property projects which include One Meyer, Tre Residences, The Poiz, Sea Horizon, Coastal Breeze Residences, 833 MB Residences, Tivoli Grande, The Line, 38 iSuites, Regent Residences and 8M Residences.

Goodland Group

The Goodland Group is a Singapore-based premier lifestyle property developer established in 1993. Listed on the Catalist Board of the Singapore Exchange Securities Trading Limited (SGX-ST) on 8th October 2009, Goodland was transferred to the Mainboard of the SGX-ST on 25th June 2013. Goodland specialises in boutique residential developments and prides itself on building quality, signature, and environment-friendly developments. Its extensive property portfolio includes residential projects, commercial and industrial developments. The company also has property investments in Cambodia and Malaysia. Goodland’s developments are managed by a team of dedicated and highly competent professionals who bring over 2 decades of development expertise and market insight.

Ho Lee Group

The Ho Lee Group was incorporated in 1996 with the convergence of businesses ranging from general building construction to specialised metal works, formwork fabrication and sales and rental of construction machines and equipment. From its inception in 1996, HLG went on to acquire Wee Poh Construction Co. (Pte) Ltd (WPC) in 2005, which is a civil engineering construction company graded by the Building Construction Authority of Singapore with an Al grading. The Group also acquired Liang Huat Aluminium Ltd in 2007, an Aluminium and Curtain Wall Specialist listed on the Main Board of the SGX. The Group also expanded with the development of commercial and residential properties and has to date a varied portfolio of properties comprising the Built-to-Order Mauser Factory in Tuas, Singapore, The Watercolours Executive Condominium, The Heron Bay Executive Condominium, just to name a few.

Kwong Lee Land

Kwong Lee Land co-developed Sturdee Residences, 3 Cuscaden and One Meyer with Sustained Land and Ho Lee Group. Kwong Lee Land is the property arm of Kwong Lee Engineering, which started in 1969. It has since established itself as one Singapore’s most established spiral steel pipe manufacturers, having manufactured a large portion of Singapore’s water transmission mains.

Project Pricing, Unit Mix (Available) and Maintenance Fee

Price by Type (Available units):

The Coastline Residences on Amber Road, which was launched for sale in 2019 at an average of around S$2,450 psf. At the time of the writing, there are a total of 29 units available for 2 and 3 bedders units. Three-quarters of the units in the freehold, 144-unit condo will have sea views.

The available unit sizes range from two-bedders at 710 sq ft and up, to three-bedders at 1,109 sq ft and up. A Sustained Land-led consortium had bought the site – the former Parkway Mansion – in December 2017 for S$146.99 million, or S$1,536 psf per plot ratio (ppr), including development charges.

Coastline Residence, standing tall at 21-storey high within the vicinity of Amber Road, has a site area of 3,620 sq.m. and a gross floor area of 10,152 sq. m.

Coastline Residences Site Plan and Facilities

It is an exclusive development boasting expansive views of the sea. Coastline Residences redefines luxurious living in the East. Situated on a scenic setting along Amber Road, it is a short drive to the CBD and a stroll to East Coast Beach. In terms of the designs, the architecture of Coastline Residence draws direct inspiration from the surrounding blue waters.

Coastline Residences unit owners can enjoy themselves as well as their guests at any of the 3 poolside areas consisting of a Children’s Pool, a 50 m Lap Pool, and Aqua Pool.  Other facilities also include an Indoor Gym, Yoga Lawn, and some Dining and Entertainment Pavilions.

 

Perhaps the most exciting facility in Coastline Residences condo is its Sky Lounge and Deck that come along with the Infinity Sky Pool located at the 21st storey where residents can embrace themselves with the magnificent view of the sea horizon.

Upon reaching home, homeowners will be greeted by a modern arrival entrance which is a gateway to sanctuary. There are a few pools connecting to each other on the South of the development which will serve as a private nature space for residents to swim, exercise or suntan.

The highlight of the development is the infinity pool on the 21st level. This allows residents to have a dip while enjoying the majestic views of the sea horizon as shown below.

Site Plan Analysis & Stack Analysis

Coastline Residences features modern architectural design with high quality fittings and fixtures. The connection to nature is further enhanced by tranquil garden sanctuaries found at every corner of the building. The layout of each unit also reflects the simple and elegant modernity of the overall architecture.

Blocks are orientated at a certain angle to allow as many units to enjoy the view of pocket sea view, or pool view. You might want to go for higher floor units at Stack 6,7,8, which are facing the pool and the east coast beach.

Stack 3 and 4 are actually facing the main entrance of this residential development. Something to take note of is that stack 3 is rather close to the bin center. So you might want to choose a higher floor unit in that stack.

Also, bedrooms, living and dining areas are all designed to allow in abundant natural light and ventilation, and for residents to easily take in the expansive views. Modern interiors feature meticulous attention to detail, found in appliances, and carpentry.

Unit Layout/Floor Plan Analysis

We are quite impressed with the layout especially for 2 bedder Type B2 which is currently sold out. The 2 bedroom unit showflat has an efficient floor plan and feels very liveable. We feel that any buyer interested in the East Coast area should consider Coastline Residences, and compare it with the other 3 freehold launches in the same area.

Available 2-Bedroom Units (Floor Plan):

This 2 Bedroom + Study is compact by standard and is amazing that they even have a study room included. Do note that this unit does come with 2 Bathrooms. This compact size would be ideal for small families. Otherwise, we are guessing this is catered towards investors intending to rent the unit out.

It is a very squarish regular layout, however, and our first impression of this showflat unit is that it does feel bigger than it actually is for a 2-bedder unit. Our personal recommendation for a 2-bedroom unit would be Type B3 as we think that it is quite a functional layout as compared to Type B1.

Coastline Residences 3-bedroom floor plan

Living and Kitchen Area

Bedroom 3

Bedroom 2

So how does the 3 bedroom fare?

Its 3-bedroom is also bigger at 1,109 sqft. Naturally, Coastline Residences come at a price ranging from $2.5 million to $3 million, with an average of  $2,500 psf for the 3-bedroom unit. This translates to a premium of 1 per cent over Amber Park for example. As compared to other new launches, we think that Coastline Residences is still quite competitive. NYON is a boutique project with fewer facilities, but it does have a unique Peranakan theme. Its high-ceiling unit is also something that buyers need to decide if that’s what they desire, since that is where the extra space has gone to.

The 3 bedroom unit also comes with a utility room, WC next to it, and a balcony that spans to the master bedroom. Its layout is pretty decent, with a sufficiently spacious kitchen. For those looking to stay in a 3-bedroom unit in this area and are on a tight budget, the 1,109 sqft unit does come across as pretty decent.

It fares slightly better here considering it has a utility room. However, there is quite a bit of wasted space with a corridor that leads to the walkway separating the bedrooms from the living.

Another interesting feature for this 3 bedder is that it has 2 balconies extending your home. One is an extension of the living room and the other is of the master bedroom. As compared to the Type C2, that layout has a bigger space allocated to the foyer and the utility room.

Comparative Price Analysis

Prices of Freehold Condos in District 15 and Area

The Amber Road / Meyer Road area is traditionally one of the most sought-after precincts in D15, as it is right at the heart of the East Coast / Katong district.

The coastline residences are actually priced at a higher range as shown in the chart above. Coastline Residences may cost more, but it does have the strategic position fronting the sea unlike other new developments which is surrounded by buildings all around. To compare prices of new condos in the Amber location, I select the 3 freehold condos in the area.

Coastline Residences Vs New freehold Condos in the Area

Now that we’ve looked at the price performance in district 15 and the area, how does Coastline Residences fare against its new launch peers?

Next, we did a price comparison among the new launches. They are Nyon, Coastline Residences, Amber Park and Amber 45 and they all boast a prestigious seaside address, within the heritage Katong district.

It is slightly priced higher as compared to Amber Park. Amber Park, at over 200,000 sqft of land, will likely remain the largest new launch condo for some time to come.

Price Performance

 

Nyon is averaging at $2,268psf. While Amber Park has an average price of $2,448

psf, Coastline Residences is transacting at an average price of $2,491psf. Amber 45 is a freehold new condo launched by UOL at 45 Amber Road. It consists of a 21-storey single block of 139 units on 69,858sf plot size. Amber 45, being the newest boutique condo, has an average price of $2,313psf.

Based on our research, we can see the units in Coastline Residences are competitively priced.

Coastline Residences vs Resale Condos Comparables

Data shown here are based on the transacted prices from 2019 to 2021. As you can see from this chart, most developments in this area are freehold in tenure, just like Coastline Residences except Silversea. Since it is within 500 meters, we shall include this development in our comparison. The Aristo @ Amber is averaging $1,836psf, while Amber Skye is selling at an average price of $1,684psf.

Compared to the other 4 resales in the same Amber Road vicinity, Amber Skye is selling its units at a lowest psf on average. Some of the available units may have views of the sea as well as the city. This condo overlooks Tanjong Katong Road and the low-rise landed properties.

Amber Skye is a freehold condo that was completed in 2017.  The developer is China Sonangol, which also developed the luxury TwentyOne Angullia Park condo in Orchard.

On average, leasehold properties tend to be around 20 per cent less than its freehold peer, so for a development that would be around 15 years older by the time Coastline Residences obtains its TOP, so the 20 per cent discount does make sense.

If we look at Silversea, however, the average 3-bedroom in the last year costs a lot more – $2.5million on average. Unsurprisingly, this is due to its larger unit sizes on average, ranging from 1485 sqft – 1582 sqft. It also has a prized location along the shoreline, offering better views unblocked by other developments.

Since 1 and 2-bedroom unit types are the most common comparable around based on actual transactions, we will also take a more in-depth look at the 2-bedroom prices at Coastline Residences.

Transacted prices for 1 and 2-bedroom units

While Coastline Residences’s $PSF is the highest among all resale developments around, you’ll notice that its average price of $2,497psf for the 900 sqft unit (or smaller) is very competitive compared to other 1 to 2 bedroom units around. In fact, it is comparably priced with the Amber Skye and Amber Park.

The reason behind this is due to its relatively small size. Like most recent launches, Coastline Residences’ 2 bedroom averaging at size of 721sqft offers buyers a more affordable quantum through its smaller size with the appeal of better and newer facilities.

Upcoming Development/Masterplan

Developers are timing the completion of a number of new condos to coincide with the opening of the Tanjong Katong / Katong Park MRT stations along the Thomson-East Coast Line in 2023.

Coastline Residences is very close to I12 Katong and Parkway Parade mall, where an underground pedestrian shopping mall will be built to connect the upcoming Marine Parade and Marine Terrace stations.

Expected completion date is  2023. As part of the Land Transport Master Plan, this increased connectivity will add to the appeal of this long-established residential community.

It will also improve the public transportation system especially when travelling to the CBD, Orchard Road and other parts of Singapore via Tanjong Katong MRT.

Coastline Residences is already very well connected via car and bus and having the MRT connectivity will further enhance its value proposition. When your new condo is ready for occupancy, that MRT station might have already been completed which will in turn boost your property value.

Paya Lebar transformation

Since the announcement of Paya Lebar Quarters in 2016, it has since been completed, adding 1.8mil sqft of GFA, with office blocks comprising 55 per cent.

The Paya Lebar that we know today is vastly different from the one I grew up with. There are now 3 malls – Singpost Centre, Paya Lebar Square and PLQ. While not exactly close to Coastline Residences, it has certainly revitalized the East side and can be said to have spurred on sales in developments that are nearby.

Our Take

Situated along with the precincts of Amber Road, it is known to be one of the upmarket sectors of Singapore, encompassing a mix of new notable projects in the area. Because of the ingenious effort and outstanding work of SL Capital developer, Coastline Residences boasts its unique design which showcases the delicate yet elegant modernism of the entire architecture.

Comparably, Coastline Residences also offers an endless sea view to most of its units, which is sought-after and valued in any property. Coastline Residences’ superb spot nearby the upcoming Tanjong Katong MRT station, prominent schools like the Canadian International School and Tanjong Katong Primary School, is almost at the doorstep of Coastline Residences. Also, its freehold tenure status is still preferable to property investors and home purchasers.

Plus, with its unique features and its easy access to the east coast park and beach, Coastline Residences is also suitable for nature-lovers, families and property investors. Correspondingly, the following are our reviews on Coastline Residences:

1. Coastline Residences embodies 3 key elements in Singapore’s exclusive property features: short walking distance to the upcoming Tanjong Katong MRT, a freehold tenure, and an endless sea view in the coastline.

2. The condominium is well planned and crafted architecturally to match the development to the attributes of nature in the surrounding. Also, the lush garden and landscapes surrounding the Coastline Residences’ premises create a fine complement to the developer’s aim of seamlessly blending the building with nature around them.

3. We are also a big fan of what they’ve done with the pool. Perhaps the impressive facility will be Coastline Residences’ Infinity Sky Pool built at its rooftop providing its residents a view of the boundless sea. Aside from the Infinity pool at the rooftop garden, residents can also find evergreen gardens at every floor. It’s something that not many developments can boast of.

4. And oh, did we forget to mention that Coastline Residences provides great accessibility and connectivity to a wide range of dining, entertainment, healthcare facilities, transportation, retail shops, academic institutions, shopping malls, as well as recreational options to fulfil residents’ needs.

The downside would be the lack of the smart home interoperability. In some of the new development projects, you might find a smart home system designed to allow you to remotely control all the smart appliances via the Smart Home app on your mobile device.

That said, there are plenty of options in the vicinity, especially at this price point entry. Among them are Amber Skye and NYON. Amber Sea by Far East Organisation is also expected to be launched soon, adding more options for your consideration. If you are considering Coastline Residences, do make sure to check out the rest of the neighbouring projects as well.

Ultimately, as a freehold luxury project, it does stand out from its peers as a viable residential product. Of course, there is a premium to pay for it, but in today’s day where people are increasingly spending more time at home, Coastline Residences could represent good value in that regard. We hope you find this article useful. Stay tuned for our next PLB latest research and featured insights! For those who are interested in finding out more or would like to start planning for your property portfolio, you may contact our PropertyLimBrothers team!