CAPITALAND’S Marine Blue, a 124-unit, freehold boutique residential development on Marine Parade Road, is 90% sold today, after its official launch. Of the 12 remaining units available, nine are one-bedroom plus study loft suites from 1,270 to 1,550 sq ft and priced from $1.7 million.
Completed in 2016, Marine Blue is located in prime District 15, across from Parkway Parade Shopping Centre and a short walk to 112 Katong. The development is near East Coast Park, with its myriad eateries and recreational activities including cycling, skating and cable skiing.
MRT AND NEW UNDERGROUND MALL
As a bonus, the upcoming Marine Parade MRT station on the Thomson-East Coast Line will be at the doorstep of Marine Blue. When the line is completed, Marina Bay station will be six stops away, while Changi Airport and the upcoming Jewel mall will be seven stops away. Construction of the Thomson-East Coast Line began two years ago and it is scheduled to be operational by 2023.
A new underground mall will be built beside the station and offer about 86,500 sq ft of retail space. The mall will be a boon to nearby residents and commuters, offering F&B outlets, takeaway stores and convenience stores.
The underground mall and MRT line will contribute to the urban rejuvenation of the area. This will boost the desirability of Marine Blue as a residential development, with the expanded transport links and shopping amenities.
COMPELLING VALUE
Homebuyers, looking for properties that give them the best value for their money, are now more price sensitive in view of the latest property cooling measures. Land buying activity and new launches in the vicinity have also pushed up property prices in the Marine Parade area.
Last year, a number of freehold sites in the neighbourhood of Amber Road and Meyer Road were sold en bloc at prices ranging from $1,409 to $1,536 psf per plot ratio. Based on the land rates achieved, future new projects on these sites will have to be launched at prices upwards of $2,400 to $2,500 psf, according to property analysts.
When these new projects are launched, they are likely to set higher benchmark prices for private condominiums in the Marine Parade area. Some condos in the area are already experiencing a price uplift as some en bloc beneficiaries receive their proceeds this year and look for new homes in the area.
At Fulcrum, located at the junction of Fort Road and Tanjong Rhu Road, one-bedroom plus study and two-bedroom loft apartments were sold at prices ranging from $1,709 to $2,072 psf from October to December 2017, according to caveats lodged.
BUYING OPPORTUNITY
Marine Blue’s loft suites — priced from $1,400 psf — present an attractive buying opportunity in the prime District 15 neighbourhood. The boutique, freehold project is developed by established property giant CapitaLand, which is behind outstanding, high-quality residential developments such as d’Leedon and Cairnhill Nine, as well as iconic projects such as The Interlace and Sky Habitat.
The loft suites at Marine Blue come with a double-volume ceiling height of up to 6m, built-in furniture deck and kitchen fully equipped with De Detrich appliances. Since the project is already completed, buyers can choose to move in or rent out their units immediately.
Don’t miss out on this rare opportunity to buy an attractively priced loft home in highly desirable East Coast.
This article appeared in The EdgeProp Pullout Issue 846 (September 3, 2018) of The Edge Singapore.