Aptly named after its very location, Lloyd SixtyFive is situated on 35,921 sqft of Freehold land in prime District 9 along Lloyd Road. If you need more convincing that the luxury development boasts a coveted address, knowing that the development is within minutes’ walk to 38 Oxley Road, a two-storey bungalow that was the residence of Singapore’s first Prime Minister Lee Kuan Yew, should do the trick.
As advertised by its developer, the development of interest here is not a high-density mass-market sort of project. We are talking only 76 units in a single 10 storey architectural masterpiece structure. Certainly, a development which screams exclusivity, and rarity, which bodes well with the select few affluent buyers who can afford such an address. With that said, it is a fact that District 9, within the Core Central Region, is populated with many small and mid-sized high-end residential developments just like Lloyd SixtyFive. Have the developer for this project got any differentiating tricks up their sleeves? Let’s find out!
Location
While proximity to MRT stations may not be a factor of utmost importance to buyers of this calibre, it is still a great feature to have. Perhaps, buyers with school going teenagers, and investors alike, will be ecstatic to know that Lloyd SixtyFive is within a kilometre’s radius to not one, not two, but four MRT stations. Speaking of being centrally located, it cannot get any better than this. The nearest of the lot is Somerset station on the North South Line, located just 600m or an 8 minutes’ walk away via Killiney Road. Dhoby Ghaut station, which is an interchange that allows commuters to get on the North South Line, North East Line, and Circle Line, is 900m away and accessible via a sashay down the Orchard shopping belt. The upcoming Great World station on the Thomson East Coast Line follows closely, located just 950m away via River Valley Road. Finally, Fort Canning station on the Downtown Line is located approximately 1 kilometre away via River Valley Road. What a mouthful if people were to ask you which is the nearest MRT to your residence, but a great problem to have, in our opinion.
If you get bored of listing these major MRT stations to describe the locale of your residence, you can also name the three mega malls that are connected to three of the four stations mentioned above. Namely, 313 Somerset, Plaza Singapura, and the recently revamped, Great World City. If these shopping options are not enough to feed the shopaholic in you, the myriad of high-end boutiques and malls along Orchard Road is just a whisper away. In addition to this star-studded line up of shopping options, the icing on the cake has got to be the 24-hour FairPrice supermarket at Orchard Grand Court, located right at your doorstep for your grocery needs.
Image courtesy Elite.com
A potential concern for parents with school going children on the location, however, is that there is only one primary school, River Valley Primary, located within a kilometre’s radius. Being the only co-ed primary school serving the pool of residents in the Somerset and River Valley areas, parents should expect high competition when it comes to securing a spot for their child here. The next closest Primary school, located slightly more than a kilometre away (1.079km), is St Margaret’s Primary, a single-sex school (female). For the males there is the Anglo-Chinese School (Junior) located 1.338km away. However, bear in mind that entry to these schools located outside of the one kilometre radius would most likely boil down to alumni connections.
Project Details
Developer: TG Development
Architect: W Architects
District: 9
Site Area: 3,337 sqm / 35,921 sqft
Tenure: Freehold
No. of Units: 76
Expected TOP: TOP Obtained in 2016/17
Developer
Since its establishment in 1987, TG Development has developed an all-inclusive portfolio of private residential projects ranging from all classes of Landed homes to boutique Apartments, and luxury Condominiums. Their strategic alliance with esteemed architects and designers has proved much success as some of their high-end projects like The Oliv, and SkyPark @ Somerset, have won accolades on the local and international stage. Specifically, The Oliv won the Best Residential Development award at the 2014 MIPIM Awards in Cannes, France, and multiple awards locally at the Singapore Property Awards 2014 and Sia Architectural Design Awards 2014. SkyPark @ Somerset was also the eleventh winner of the Sia Architectural Design Award in 2011, with the winning factor being the architect’s and developer’s ability to create homes which feel like “Bungalows in the Sky” despite the constraints of a tight land plot of 29,117 sqft in an already crowded city.
TG Development’s well-known projects also include Bungalows in Sentosa Cove and parts of District 10, a resort inspired St. Patrick’s Residences in District 15, and a 420-unit Condominium with Orchid Golf & Country Club as its backyard in the North. With such a track record, buyers can be assured about the quality of the product here at Lloyd SixtyFive.
Architect
Like its past projects, TG Development has partnered with an architect of repute. This time, in W Architects helmed by veteran architect, Mr Mok Wei Wei. The firm even had a monograph of their 35 years of designs published by Thames & Hudson in 2020. To have a book published by one of the world’s leading publisher, surely it speaks volume about the credibility and experience of this firm. Furthermore, Mr Mok is also presently a board member at the Singapore Land Authority and JTC Corporation. Some of his firm’s notable works include The Nassim, Three Three Robin, and The Loft @ Nassim Hill. A quick search on these properties online and you can be assured that Lloyd SixtyFive is in good hands when it comes to its architectural elements.
Site Plan Analysis
Image courtesy PropNex
The project is made up of just one block of 10 storeys, and 12 stacks in total. The distribution of units are not uniform within the stacks, but rather, are scattered around. This means that be it you prefer low floor or high floor, there are units of small and large sizes for you to choose from.
There are four main facings which buyers can choose from, two external, and two internal. The first external facing is fronting towards the main entrance of the development, in the Northeast direction and towards Lloyd Road. This is also the only facing which enjoys an unblocked view because the Odyssey Global Preschool right in front is currently only single floor, despite having a plot ratio of 1.4. Furthermore, the properties surrounding the school are shophouses, hence giving units here a clear view through to Eber Road. This also means that residents here get more privacy, and great airflow, but slight morning sun at an angle. The other external facing is in the Northwest direction and towards Orchard Grand Court. The serviced apartment building is more than 10 storeys tall and hence, residents here will get limited views. The tradeoff however, is that Orchard Grand Court helps to shield off and acts as a road noise buffer from the busy Killiney Road.
The internal facing units will front the development’s communal facilities, with the lap pool as the main attraction. Both internal facings, the Southwest direction and Southeast direction will also face neighbouring developments like The Boutiq and The Botanic on Lloyd respectively. The former will enjoy greater privacy as there is the length of the swimming pool and landscaping which separate the two developments. In addition, the orientation of the two main blocks at The Boutiq are inward facing, hence residents at Lloyd SixtyFive need not worry about their neighbours looking directly into their unit or having a view of them making laps in the main pool. In my opinion, this is the best facing of the four.
Unit Mix
At first glance, it may seem like there are more than 10 different unit types, but really, there are mainly just six types, or three (if you do not segregate the units with study configuration). 1 Bedroom, 1 Bedroom plus study, 2 Bedroom, 2 Bedroom plus study, 3 Bedroom, and 3 Bedroom plus study. That is, with the exception of the 4 Bedroom unit which is one of its kind at a whopping size of 6,620 sqft. It is a single floor plate ground floor unit which comes with your own private car porch, private lawn area, private lap pool, and four en suite bedrooms. Pretty much sounds like landed living I would say.
This is also one of the largest new launch units in District 9, larger than the penthouse at Kopar At Newton (3,305 sqft), 4 Bedroom at Cairnhill 16 (1,744 sqft), 6 Bedroom penthouse at Klimt Cairnhill (4,898 sqft), 5 Bedroom penthouse at Irwell Hill Residences (2,605 sqft), and closely rivaling the 2 mega penthouses at Reignwood Hamilton Scotts (6,975 sqft). If you are looking for rarity and size, this might be the one for you. At the time of writing, the 4 Bedroom unit is still available, so act fast!
Something of a differentiating factor here that we noticed is the developer’s provision for double volume or high ceilings in each category of unit types. All the 1 Bedroom to 3 Bedroom unit types have Double Volume, Loft, or Attic options which is unique and refreshing to see. The last time TG Developments incorporated high ceilings to their SkyPark @ Somerset project, it won them a couple of architectural awards, and I can see why they are giving it another go. In my opinion, this is a great product differentiating factor and one that buyers of such price tags would appreciate.
Floorplan Analysis
1 Bedroom & 1 Bedroom + Study
There are mainly two types of 1 Bedroom units, the 1 Bedroom and 1 Bedroom + Study. For the 1 Bedroom type, there are three different floorplans, there is the Type A1-1, A2-1, and A5. The A1-1 and A2-1 are similar with only a slight difference in terms of the structural layout. Both types also get double volume ceilings in their Living area. The A5 however, does not have that feature, but instead, has a large patio space. All three types are common in that all their master bathroom does not come attached with the master bedroom and have a separate access instead. I think this feature is great because in the event you where you have guests over, they would not have to enter your master room to access the bathroom, unlike some of the 1 Bed 1 Bath units in the market.
The 1 Bedroom + Study type has three different floorplans, the Type A4 (904 sqft), A3 (710 sqft), and A3-1 (1055 sqft). The layout for the Type A3 and A3-1 are essentially the identical with the latter having a higher square footage due to the double volume ceiling in the living area. The main difference between the A3 and A4, besides the Type A4 being a patio unit, is the location of the study. As seen above, the study in the Type A4 is situated at the front of the apartment, adjacent to the main door, whereas the Type A3 units’ study is situated in the master room. In my opinion, the Type A3 configuration seems ideal as it makes the space feel more private and it also makes the master room feel and look bigger. It could also double up as additional wardrobe space if the built-in one is not sufficient, which might be the case considering you are living within a shopping paradise. The A3 units also enjoy a single loading configuration with balconies off the living area and the master room.
A notable mention is the Type A6 (990 sqft) which has an additional utility area and WC. How often do you get such a feature in a 1 bedroom apartment? hardly ever. This could be a useful space for your laundry needs and the WC can also double up as a powder room for your visiting guests, thereby leaving the master bathroom solely just for you and or your partner. This layout provides more value than the ones with double volume ceiling in my opinion, and it is a shame that the developer did not provision for more of this layout (only one such unit, still available at the time of writing).
2 Bedroom & 2 Bedroom + Study
The 2 Bedroom and 2 Bedroom + Study units are probably one of the largest two bedder configurations you can find in the market. There are five different types, B1, B2, B3, B5, and B6, and they range from between 1,604 sqft to 2,045 sqft. However, do bear in mind that they are all duplex in nature, and are either a Loft or an Attic type. The Loft type (B1, B2, and B3) features a void space above the living and dining and hence, the amount of useable space may not be as much as it is stated. The Attic type (B5 and B6) on the other hand, features a full upper level. All the five types get private lift access, a powder room, enclosable kitchen, ensuite common room on level one, and master room and master bathroom on level two. Their stark difference is that the Loft Type gets a dedicated study area on level two and a longish shaped master room, while the Attic Type gets a private roof terrace space and a squarish master room. Private lift, high ceilings, duplex layout and private master room roof terraces, TG Development meant it when they said this was going to be a luxurious one, brilliant!
3 Bedroom & 3 Bedroom + Study
Just when you think that they have outdone themselves with the two bedders, it gets better with the three bedroom units. There are three types, C1, C2, and C3, ranging from 1,733 sqft to 3,638 sqft, and like the two bedroom units, there is also the Loft and Attic configuration. All units come with a private lift, powder room, and an enclosed kitchen, and WC. The Loft type (C1) has three ensuite bedrooms; one common room on level 1, and the second common room and master room on level 2. The expansive void area above the living and dining plus the extended balcony which stretches all the way to the common room surely would make the unit feel larger than it already is.
The layout of type C2 differs quite extensively from that of C1. It is a single floor plate configuration, the two common rooms are not ensuite and instead, share a common bath, and it comes with an additional utility room. While this is the most compact version of the three bedders, I think this is still sufficient as all rooms can easily fit a queen bed and the utility room is always a great bonus to double up as additional storage or helper’s room.
The largest three bedroom type, Type C3 is one to behold as it is a combination of Type C1 and C2, giving the future owner of this place the best of both configurations. It comes with the utility room which we all love, two ensuite bedrooms on level 1, with one of them enjoying a private balcony and walk-in wardrobe space, private roof terrace space, and a private swimming pool. The master room on level 2 has a dedicated walk-in wardrobe space and even an outdoor bath area. The size of the unit is comparable to some of the Strata Landed homes and the unit sounds more like a private sanctuary resort if you ask me. There is only one unit of this layout and it is still available at the time of writing.
Price Analysis
When compared against its new launch peers in District 9, Lloyd SixtyFive has one of the heaviest price tags, and only Klimt Cairnhill supersedes it by about 15%. However, do note that the units at Klimt Cairnhill are much smaller in size (2 Bedroom at 829 sqft, 3 Bedroom at 1,432 sqft to 1,496 sqft, and 4 Bedroom at 2,056 sqft), which pales in comparison to the unit sizes here at Lloyd SixtyFive and that explains why their PSF is currently averaging at $3,800.
In comparison to the lowest PSF of the lot, the difference between Llyod SixtyFive is about 57%. But this difference in price is not without reason. Kopar is located further up north of District 9 and away from the heart of Orchard and Somerset. In fact, some may argue that it is closer to the Novena region despite holding a District 9 address. Furthermore, it is a mid-sized project that has almost five times as many units of that of Lloyd SixtyFive, packed into 99 years leasehold land that is slightly over three times larger. That said, by no means are we suggesting that Kopar At Newton is a bad choice. Its proximity to Newton MRT and reputable schools like Anglo-Chinese School and St Joseph Institution makes it very attractive. Ultimately it boils down to personal preference on deciding if paying 57% premium for Freehold status, exclusivity, luxury living, and an address that is in the heart of Orchard is worth it.
One more point to note however, is the TOP date of Lloyd SixtyFive. The project has already obtained its TOP in late 2016 and there are two ways to look at it. Amongst the new launches in District 9, this is the only project that is ready for you to move in immediately and get an entirely new product. Another consideration is that you will be getting a new product that is already about 4 years old. Albeit the top notch build quality of the developer and architect, fair wear and tear is ought to happen, thus, do pay attention to the Defect Liability Period clause in the Sale & Purchase Agreement.
Above are the past 12 months average transacted prices of Freehold resale properties of small developments within 500m radius from Lloyd SixtyFive. Unsurprisingly, the premium between the newest development and the resale ones is quite large, measuring between 123% more than the $1,700 psf of The Boutiq, and 52% more than the $2,500 psf of One Devonshire. I mentioned that this is unsurprising because the sales volume within these developments in the past 12 months is very weak. With low sales volume, it is tough for the bank valuations to see an increase and hence, affecting the resale price performance of the developments in the area.
In addition, based on the latest Property Price Index (PPI) of Non-Landed Properties, it is evident that the PPI for properties in the Core Central Region (CCR), which include Districts 9, 10, 11, Downtown, and Sentosa, saw the slowest growth. Within the past 12 months, the PPI for CCR properties only saw an increase of 3.2% from 134.3 to 138.7, whereas the PPI for Rest of Central Region (RCR) and Outside Central Region (OCR) saw an increase of 9.5% and 7.6% respectively.
Another reason for the lack of sales volume could also be that homeowners here have strong holding power and do not have intentions to sell. Buyers of these price tags probably would adopt a “forever home” mindset rather than the “pivot home” or investor mindset, unlike buyers in the RCR or OCR region. After all, these are stunningly gorgeous homes that are also Freehold in nature, and buying into a property like Lloyd SixtyFive is also buying into a class of lifestyle which is sustainable only to a select few.
Our Take
With only 76 units, and private lift access for almost every unit, Lloyd SixtyFive is curated for the buyers who appreciate exclusivity and privacy. Hats off to the developer in its effort to differentiate their product with the incorporation of double volume ceilings into most of its unit. The only aspect which I think there is not much to shout about is its facilities, but understandably so as the land plot which Lloyd SixtyFive sits on is not large either. If you are a buyer that is shopping around in this section, chances are, you have the capacity to afford even properties that are north of $5,000 psf. At this price range, there might be other high-end developments which may provide more value in terms of facilities and being a trophy asset. Lloyd SixtyFive however, is quite tough to beat in terms of address and locality, and I can see why buyers would compromise on some aspects to own a piece of this development.
Should you be interested to find out more about this project, or any other project for that matter, feel free to contact our consultants. Till the next article, take care, and as always – PropertyLimBrothers, always happy to show you the place.
