AWARDS: Seaside Residences - seafront living in the east

By
/ EdgeProp
|
October 12, 2018 3:01 PM SGT
Seaside Residences, located in Siglap in District 15, is developed by a consortium comprising Singapore-listed developer Frasers Property, Japanese developer Sekisui House and construction company Keong Hong Holdings.
Launched in April last year, the 99-year leasehold development comprises 841 residential units and two commercial units. At the EdgeProp Singapore Excellence Awards 2018 on Oct 3, Seaside Residences bagged three awards — Design Excellence, Sustainability Excellence and Top Development.
The condominium’s appeal can be attributed largely to its location, as it is less than a kilometre from East Coast Park. In keeping with East Coast living, Seaside Residences’ facilities carry the themes of “Sun”, “Sea”, “Sand” and “Sky”. The family lawn and the reflexology garden are under the “Sun” theme; the 50m lap pool and beach pool are Sea-themed facilities for residents.
ADVERTISEMENT
Given its proximity to East Coast Park, which is frequented by cyclists, Seaside Residences has a sheltered bicycle park with direct cyclist access to nearby MRT stations. It is linked to East Coast Park via a pedestrian underpass.
One of the EdgeProp Awards judges, Lee Liat Yeang, senior partner at Dentons Rodyk & Davidson, describes Seaside Residences as “a rarely available new sea-fronting residential project”. Lee says: “The developer has also taken advantage of the elongated shape of the site to design blocks of units [such that] many of [the units] will have [unobstructed] sea views.”
The 99-year leasehold development has a wide range of fitness and lifestyle facilities
Designed by ADDP Architects, Seaside Residences has four 27-storey towers. More than 70% of the units at Seaside Residences are guaranteed a sea view. The living rooms and bedrooms that face the sea boast full-height windows, complementing the balconies that open up to vast sea views. Each pair of towers is connected by a sky terrace, which is a community space topped by lush gardens, accessible to all residents and offering views of the city and the sea.
Seaside Residences is 84% sold. During the three months of its launch, 459 units — 71% of the released units — were taken up. Units were transacted at an average of $1,733 psf then. Even after the property cooling measures that took effect on July 6, however, transactions at the development maintained an average price of $1,739 psf, according to URA data.
ADVERTISEMENT
In January 2016, the Frasers Property-led consortium placed the winning bid of $624.18 million for this 207,842 sq ft Government Land Sales site at Siglap Link, which translated into $858 psf per plot ratio. There has been no sale of a GLS site on the stretch overlooking the East Coast Parkway since 1997, when Cheung Kong Property Holdings purchased the 99-year leasehold site on Bayshore Road to develop the 969- unit Costa del Sol, which was completed in 2004.
Seaside Residences is expected to be completed in 2020. The project will be a six-minute walk from the upcoming Siglap MRT station on the Thomson-East Coast Line. Upon the line’s completion in 2023, residents will have easy access to Marina Bay and the Changi Airport.