Lattice One New Launch Condo Review – The New Crown Jewel of Upper Thomson

TL;DR Lattice One is a rare freehold gem found in the District 20, located along Seraya Crescent, Upper Thomson, specifically catered to the needs of the nature-lovers. Enriched with the lush greenery in the area, it certainly appeals to families and investors who are looking for serene living conditions in the natural surroundings.

The Development

Lattice One sits on a small site area of 26,665 sq ft and is an exclusive low-rise residential development for families wanting to live in the peaceful surroundings of nature. Its 48 units are spread over two blocks that comprise of well-designed 2-, 3- and 4-bedrooms predominantly. It is a rare freehold property which is close to nature. Located right next to Lower Peirce Reservoir Park and is also near the Bishan-Ang Mo Kio park which are ideal for residents to explore and exercise to maintain a healthy and active lifestyle.

Its estimated T.O.P date is scheduled to be at 2024, this rare residential project will be a blend of comfort, tranquillity and privacy due to its proximity to schools, medical facilities, and 3 major expressways providing a convenient link to the Central Business District and not to forget the lush greenery found within the Lower Peirce park and Reservoir.

If you’re wondering about what you can do around the area, residents can head to nearby supermarkets like Giant Express – Jalan Kuras for groceries and household products. In addition, Lattice One is within driving distance to Orchard Road, Singapore’s most popular shopping area, is approximately 19 mins drive away.

Other than that, residents can also head down to the nearby shopping malls like Thomson Plaza for amenities such as supermarkets, restaurants, banks, and more at malls such as North Point City, Ang Mo Kio Hub and Junction 8.

Minutes away from the condominium, is Upper Thomson Road, which is famous for their hipster cafes, seafood restaurants, chicken rice, many supper eateries and last but not least, the famous prata at the Prata House. It’s best for food-lovers who get to enjoy a wide range of good restaurants and amenities in Thomson.

Project Name: Lattice One

Developer: Amcorp Global Limited (formerly known as TEE Land Limited) (the “Company” or “Amcorp Global” and together with its subsidiaries)

Address: 1 & 3 Seraya Crescent

Type: Residential apartments

Tenure: Freehold

District: 20

Nearest MRT station: Mayflower

Parking lots: 48 parking lots + 1 handicap lot

Configuration: 48 units spread over two blocks of 5-storey apartments

Sold Price range/Average*: $ 1,612 – $ 1,858 SQFT / $ 1,689 PSF

Historical High: $ 1,858 PSF in June 2021 for a 861-SQFT unit

Indicative Average Price from Historical High: -9.1%

Historical Low: S$ 1,560 PSF in June 2019 for a 1,076-SQFT unit

Buyer Profile by Purchaser address: HDB 65.4%, Private 34.6%

Unit types: 9 x 2-bedroom units (538 to 657 sq ft)

                     4 x 2-bedroom premium units (614 sq ft)

                     5 x 2-bedroom + Study units (646 sq ft)

                     25 x 3-bedroom units (840 to 1,076 sq ft)

                     5 x 4-bedroom units (1,023 to 1,184 sq ft)

Estimated TOP: 2024

Estimated legal completion: 2027

Site area: 26,665 sq ft

The condominium is located at 1A, 1B, 1C, 1D and 1E Seraya Crescent, Upper Thomson Road. Situated within Thomson, the least densely populated mature estate, makes Lattice One a gem. This prime location provides easy access, good restaurants, quality education and medical facilities.

Facilities Overview

Lattice One provides a wide range of facilities for the residents which include a gymnasium, swimming pools, children’s playground, BBQ area and function room. Lattice one is ideal for families since it is located close to Central Catchment Nature Reserve, the largest nature reserve of Singapore. You can enjoy a number of activities including bird watching, fishing, hilltop walk.

Singapore Island Country Club is also located nearby. This is a perfect place for networking or catching up with your friends, particularly if you relish playing a game of golf.

The beauty of this condominium lies in its rooftop garden overlooking the serene greenery. The developers have divided the facilities of the condominium between the ground floor and the rooftop garden. The ground floor hosts a lap pool, a wading pool, a fitness corner and function pavilion, while the rooftop garden has a yoga deck, a fitness station, a reading space and a sky lounge.

Developer Profile and Track Record

Lattice One is developed by Amcorp Development Pte Ltd. Listed on the Mainboard of the Singapore Exchange since 2013, Amcorp Global Limited (formerly known as TEE Land Limited) (the “Company” or “Amcorp Global” and together with its subsidiaries, the “Group”) is a regional real estate developer and investor with presence in Singapore, Malaysia, Australia and New Zealand. In fact, the Group undertakes residential, commercial and industrial property development projects, as well as invests in income-generating assets.

It is a well-established property developer with a strong track record of delivering quality and well-designed living, commercial and industrial spaces. The company/group’s property development projects are predominantly freehold in tenure and are targeted at buyers who prized exclusivity in good locations. Incorporated in 2012 and listed on the mainboard of the Singapore Exchange in 2013, Amcorp Global is majority owned by Amcorp Supreme Pte Ltd, which in turn is a wholly-owned subsidiary of Amcorp Group Berhad.

Indicative Pricing, Unit Mix and Maintenance Fee: Lattice One

Located at 1 Seraya Crescent in District 20, it is expected to be completed in 2024. As mentioned, it is a rare freehold property that is close to lush greenery in the area. It stands 5 storeys tall and comprises a total of 40 units.  At a land cost of $25.74 million, the estimated break-even price will work out to $1,170psf approximately. Considering the uniqueness of this freehold residential development project surrounded by the nature and lush greenery in the area, it is fairly priced at a low quantum. As of April 2021, the total take-up rate is 67%. The total price range of units in Lattice One is S$998K to S$1.8million.

We will compare the prices and attributes of the neighbouring new launch condos later, but first let us have a look at the indicative pricing which is as follows:

The property offers two to four-bedrooms in the two blocks of 5-storey apartments. (48 units)

Considering its prized locality, there are a few other features that justify this premium pricing. Other than of course the sub-$1 million prices for the two-bedroom units. We want to point out that the indicative price of the standard two-bedroom unit at Lattice one, at about $998,000, is only $12,000 higher than the price of a similar unit at Adana @Thomson.

Unit Distribution Chart

Lattice One: July 2019 to June 2021 Monthly Transactions

As shown on the chart, the units were sold at an average price of $1,800 psf when it was first launched in June 2019. 15 out of 48 units were taken up and the buyers of these condos were all Singaporeans.

Site Location

At first glance of the site location, it is located in the city fringe at a mature yet serene estate as it is close to the heart of nature. Lattice One is an serenely located in the arms of nature, surrounded by the Lower Pierce Reservoir and in a few minutes reach to the MacRitchie Reservoir, Bishan-Ang Mo Kio Park and Singapore Island Country Club. These provide ample choices for activities like fishing, bird watching,  water activities for example, kayaking and cycling for families.

It is also easily accessible via Central Expressway (CTE), Seletar Expressway (SLE) and Pan Island Expressway (PIE). It is close to lush greenery, parks like Bishan – Ang Mo Kio Park, MacRitchie Reservoir, Lower Peirce Reservoir and Singapore Island Country Club and Golf Course. It is also a short drive to Thomson Plaza, Ang Mo Kio Hub and Bishan Junction 8. There are many popular restaurants in the vicinity and along Upper Thomson Road and Casuarina Road.

As you can see on the map, this upbeat residential estate surrounds itself with landed homes, greenery. Barely any tall buildings can obstruct its serene view and private environment. It is also packed full of bustling restaurants and amenities like dining, shopping, entertainment and schools. The Upper Thomson locale is home to some of the reputable primary schools and educational institutions like Raffles Institution, Marymount Convent, CHIJ St. Nicholas Girls School, Ang Mo Kio Primary School, Ai Tong School, and Anderson Primary school. These are conveniently located with a 4km radius from the condominium.

At north-side facing, there are a number of landed properties and the freehold development is also close to several shopping malls like AMK Hub, Thomson Plaza, Shunfu Mart Food Centre, Sin Ming Plaza, Junction 8 and Bishan North Shopping Mall.

Comparative Analysis: New Launch Condos near Lattice One

Based on our research, Lattice One is priced the most expensive, as compared to its neighbouring freehold condos. There are no newly launched condominiums within a 1km radius of Lattice one but we identify a relatively new freehold development Adana @Thomson.

One of the key features of this development is its unique locality. The Thomson Estate is a popular residential estate among the locals as it is known to be a least densely populated estate. The estate comprises primarily low-rise private developments and is filled with lush greeneries and forestry swamps in its surroundings. Those people who are looking to buy an apartment in Singapore, Lattice One might be the best choice. The area also has a few notable low-rise private developments. One particular relatively new launch that is worth mentioning would be the Adana @Thomson. 

Adana @ Thomson is a freehold development located at Upper Thomson Road, sitting next to Lower Pierce Reservoir Park.  It is also one of the 12 developments in Singapore that is being certified by the National Parks Board’s with Landscape Excellence Assessment Framework. Adana @ Thomson comprises 3 blocks of 5 storey residential apartments with all 74 residential units. It is currently going for $1,796 psf on average which is comparably priced, if you look at the average sale price of Lattice One.

Comparative Analysis: Resale Condos near Lattice One

There is also a lack of competition for Lattice One in terms of resale condos. In fact, there are only three comparable condos that have a similar proximity:

1. Peirce View

2. Meadows @ Peirce

3. The Panorama

If we were to look at the freehold resale condo that are within 1km, it comes under $1,220 psf price range which is significantly less expensive. For the purpose of our review on the resale units in the area, we include The Panorama which is a 99 year leasehold residential project in the chart. Peirce View is a medium-rise freehold project from 1996. The third condominium would be Meadows @ Peirce which is a freehold development project from 2012.  Located along the lush upper stretches of Upper Thomson Road, this freehold condominium features mainly low-rise, five-storey apartments and one 14-storey block. Meadows @ Pierce is surrounded by forestry swamp and landed estates, so all residents get to see the greenery and clear blue skies. Residents of the high-rise stacks can also enjoy the expansive views of the Lower Pierce Reservoir and beyond.

Compared with the rest of District 20,  Lattice One is priced substantially higher at 1,858 psf on average. It is priced 23 % higher than the District 20’s average median psf price given its prized locality.

For the purpose of our review, we shall also take into account the development projects in District 23 as the area is also surrounded by greenery, since it is built within the Upper Bukit Timah. Some of the projects are nestled serenely in its own enclave, with views of the Bukit Timah Nature Reserve and Upper Peirce Reservoir  in the area. So one of the projects is definitely an alternative option for those who like to reside near nature.

Here are some of the notable condominiums:

1. Tree House

2. Foresque Residences

Tree House, 99 years leasehold condominium, the apartments are priced at about $1,130psf . The apartments released for sale ranged from $640,000 for 2-bedroom units to about $2.4 million for the 5-bedroom penthouses.

In addition, we have Foresque Residences which is a 99 years leasehold condominium, completed in 2014. Similarly, this site is situated right next to the Tree House. The developer, Wing Tai bought the Foresque residences site for $177.4 million (or $345psf). Pricing-wise, you might be wondering what a 4-bedder in Foresque Residences that are available will cost you, here are prices for both a low and high-floor units, going at an average price of 1,151psf.

• At 6th floor, (1432sqft, Type D2):   $1,484,000 or $1,036psf

• At 21st floor, (1432sqft, Type D2):   $1,656,500 or $1,156psf

Overall, as you can see the prices are much affordable for these resale condos in this district.

Site Analysis

This property is situated right next to nature, located right next to Lower Peirce Reservoir Park and Bishan-Ang Mo Kio park. These are ideal for residents to explore and exercise to maintain a healthy and active lifestyle. Lattice one is found near the edge of the Lower Peirce Reservoir, just minutes away from the MacRitchie Reservoir. Also, Singapore’s largest nature reserve, Central Catchment Nature Reserve is very close to the development. The serene environment allows the residents to get close to nature as well as promotes an active, outdoor lifestyle. At the west side of this condominium project, at Stack 1, 2, 8, 9 facing the reservoir will enjoy pockets of forestry swamp and greenery view.

Situated further away from the main and side entrances, there is more privacy and openness for everyone especially for those who are residing in Stacks 7, 8.  Residents who love being close to the nature will love the breath-taking view of luscious greenery that surrounds Lattice One. All the residential units in these stacks are beautifully designed and angled to ensure that each individual apartment is surrounded with spectacular views of either the surrounding or central communal landscape. The condominium is also adorned with beautiful trees that enhance its beauty and freshness to the whole development. At the east-side facing this freehold development project,  the stack 4,5,10,6,7 would be having the view of a small community park and facility pools.

Personally, we would think that the higher storey in particular, at stacks 1, 9, 8 would fetch a considerably higher price due to its views of the lush forestry areas surrounding the Lower Peirce Reservoir.

Floor Plan Analysis

Let us take a look at the layout and units mix which comprises 48 units, with 2, 3, 4 bedrooms layout.

The two blocks come with a total of 4, two-bedroom units in 538 and 560 sq ft respectively; and one large unit of 657 sq ft. The 538 sq ft units (type A1 Classic) have a larger living area, whereas the other two unit sizes (type A2 and A1-U) have slightly bigger bedrooms.

The apartment is efficiently designed to maximise the usable space, hence providing a more comfortable live-in space. Besides, the kitchen appliance from Bosch & Teka, sanitary ware from Hansgrohe are provided.

For Type A3 premium, four of the eighteen 2-bedroom units are premium units of 614 sq ft. What sets off from the type A1 and A2 is the size of the balcony and the living space is larger than any of the other 2-bedroom units put together.

Also, with Type A3, the master bathroom can be found in the master en suite whereas in Type A1, A2, the master bathroom is on its own. This would mean that the residents can have the private bathroom to themselves as there is an additional bathroom for guest next to the living area.

The remaining 2-bedroom units are 646 sq ft in size and include a study room. The kitchen comes with a solid surface tabletop complete with the kitchen cabinets in a laminate finish, Teka hood and induction hob, Bosch multi-function oven and a standalone fridge freezer.

Also, the living room is adorned in marble flooring, the bedrooms with built-in wardrobes and the study room make a 2-bedder feel grand for its decent size.

This layout is good for large families.  The master bedroom can accommodate a king-sized bed, while the other two common bedrooms can house a queen-sized bed comfortably. All bedrooms come with Daikin/Mitsubishi air-conditioners and double-pane energy-efficient windows.

Besides, each unit comes with a kitchen in a subtle black and white colour combination and fully equipped with top of the line appliances for convenient cooking for the family. What you might like about this layout is that the kitchen is an open concept.  It invites more light into the kitchen. While you are whipping a sumptuous meal up, you can still interact with the guests. Otherwise, you can also build a low wall topped with glass panels to have some form of divider between the kitchen and the dining space.

Particularly, we like that the second bathroom is set apart from the rest. It allows for extra bit of flexibility for multi-generations living due to the privacy that it caters for. Speaking of which, as the master bedroom comes directly off the house’s main living room, this layout might not be the best for someone who’s concerned for privacy.

In terms of 4-bedder layout(Type D1), this generously proportioned 4-bedroom unit houses a balcony which extends the living area to host parties and gatherings. The kitchen is also furnished with a wide range of sleek appliances making it a functional culinary space.

Smart Home System

Also, another key highlight of this residential development project would be all the units that come with a smart home system, Hansgrohe sanitary fittings, floor-to-ceiling built-in-wardrobes.

Lattice One for investment and rental yield

At today’s rent for Lattice One, an ensuite master bedroom for a full-facility new condo in the area is expected to rent out for anywhere between $1,800 to $3,000 depending whether it is to rent the entire unit, and a common room without attached master bathroom will likely rent out in the $1,581 to $1,900 range.

The total estimated rent of $2,100 for a two-bedder unit, and $3,200 for a three-bedder unit means that landlords can conservatively expect a rental yield of more than 2.4% after factoring in 12% Additional Buyer’s Stamp Duty for a potential landlord.

Investors must also consider the area’s lucrative rental demand. Currently, there is a serious supply shortage of condominiums for rent in the vicinity of Upper Thomson because of a confluence of factors leading to the favourable rentability in the area.

Educational Opportunities

Here you will also find renowned schools such as Ai Tong School, CHIJ Primary School , Catholic High School and Raffles Institution that are within close proximity.

Future Development

Moving on to the future plans laid out in this vicinity, new commercial and industrial re-development at Tagore Industrial park and at Ang Mo Kio Industrial Park 3 are going to create employment opportunities for the locals, thus the residents will certainly benefit from the rentability and enjoy short commutes to work.

Furthermore, on top of being close to nature, the development enjoys high connectivity as it is just minutes away from the Mayflower MRT Station (TE6) on the Thomson East Coast Line.

Lattice One residents will enjoy improved connectivity with Mayflower and Bright Hill MRT stations on the Thomson-East Coast Line. For commuters who prefer public transport, Lattice One will be surrounded by nearby train stations such as Mayflower (TE6) and Bright Hill (TE7) MRT Station on the Thomson-East Coast Line.

Bright Hill MRT station will be just seven stops to Orchard MRT interchange on the North-South Line (NSL). En route to Orchard, commuters can also interchange at the Stevens MRT station which connects to the CBD via the Downtown Line (DTL). The Mayflower MRT station will also feature barrier-free entrances for senior citizens, while the Bright Hill MRT station will connect residents in the Sing Ming area directly to the city.  Also, the Cross Island Line, which will pass through Ang Mo Kio when it starts operations by 2030, will serve as an alternative east-west MRT route. The North-South Expressway will shorten travel times between the city and Ang Mo Kio, as well as northern parts of Singapore.

Currently, Lattice one is connected seamlessly to major expressways such as Central Expressway (CTE), Pan-Island Expressway (PIE) and Seletar Expressway (SLE). With easy access to regional and community parks, as well as to the Bishan-Ang Mo Kio Park and Lower Pierce Reservoir, residents will be spoilt for choices when it comes to enjoying the outdoors. To bring nature closer to residents, more green spaces will be implemented in the years to come.

Our Take

Honestly, we think Lattice One is a hidden gem because of the small site area surrounded by the green parks and reservoirs promoting privacy within an urban setting. It will command a prime location with the completion of the new Thomson East-coast Line (TEL) offering residents a peaceful abode with great connectivity to food establishments, supermarkets, schools, CBD and other prime areas.

Something that is worth mentioning is this luxury development comes with the smart home automation gateway app. It lets you remotely monitor the safety of your home and other smart lifestyle options. These features include a VIDA Gateway that involves a camera for a smart home hub. An MIO monitor, which is an advanced management monitor that come with a touch screen that offers a user-friendly experience by means of graphic icons and notification LEDs. Also, a Biometric door lock is a highly secured device that lets you unlock your door via a mechanical key, a fingerprint or a user password.

We believe that this condominium has luxurious units for potential buyers looking to reside in this precious location whereby homebuyers will likely to experience contemporary living within the confines of nature, away from the hustle and bustle of the city. With this, we hope you find this article useful. Stay tuned for the next PLB insights article! 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! Take Care!