LOCATION SCAN: Zouk to move to Clarke Quay, what’s in the 'party'?
By Tan Chee Yuen
/ The Edge Property |
Party-goers and clubbers will be bidding farewell to Zouk’s Jiak Kim Street premise, which houses the club for almost a quarter century. Zouk announced in June that it has signed a new lease for a 30,000 sq ft space at Block C in Clarke Quay. The new premises is targeted for a June 2016 opening.
Clarke Quay is located along the Singapore River. It is easily accessible via Clarke Quay MRT station of the North-East Line, which is directly beneath The Central – a retail cum office development. Clarke Quay is a high-profile entertainment zone among locals and tourists, owned by CapitaLand Mall Trust. F&B outlets and eateries such as waterside restaurants and bars occupy more than half of the space.
What’s available near Clarke Quay?
As an overview, there are eight private condominiums within 1km radius with recent transactions. The highest transacted price over the past six months was for a 2,077 sq ft unit at The Imperial which sold for $4.1M ($1,986 psf). On the other hand, the most affordable transaction was for a 786 sq ft unit at River Place which fetched $985,000 ($1,254 psf). Gross rental yield lies in between 2.6% and 4.0%.
Chart 1: Prices of private condos within 1km radius of Clarke Quay
Source: URA, The Edge Property
Chart 2: Rental comparison of private condos within 1km radius of Clarke Quay
Source: URA, The Edge Property
In the public housing segment, 3- and 4-room HDB flats within 1km radius of Clarke Quay was transacted at an average price of $469,500 and $540,334 respectively over the past six months.
Chart 3: Price statistics of HDB flats within 1km radius of Clarke Quay
Source: HDB, The Edge Property
Chart 4: Rental statistics of HDB flats within 1km radius of Clarke Quay
Source: HDB, The Edge Property
What’s recently transacted?
In August, there were three private condo transactions. Two were from Aspen Heights – a 1,324 sq ft unit which was sold for $1.95M ($1,473 psf) and a 1,582 sq ft unit which changed hand at $2.3M ($1,469 psf). The third unit was a 2,077 sq ft unit in The Imperial, which was sold at $4.1M ($1,986 psf).
Table below only shows the 10 latest transactions, which are generated through our professional analytic tool on theedgeproperty.com. The tool is available for registered users. To find out more or to register, please write in to propertyeditor.sg@bizedge.com
Latest transactions of private condos within 1km radius of Clarke Quay
Source: URA, The Edge Property
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