The Lumos: Opportunity to capitalise on makeover of Orchard Road

Past Master Plans revolved around gentrification of city-fringe or suburban areas, for instance, Paya Lebar and Jurong East in 2008, the Potong Pasir-Woodleigh area in 2013, Tampines and Woodlands Regional Centres, as well as new estates such as Bidadari and Tengah, says Ken Low, managing partner of SRI.
“This Master Plan 2019 sees the rejuvenation of the CBD and Orchard Road as well as the expansion of the Greater Southern Waterfront including Sentosa Island,” he says.
The makeover of Orchard Road into a lifestyle destination was introduced in January this year (Credit: Albert Chua/EdgeProp Singapore)
The plan for the makeover of Orchard Road into a lifestyle destination that offers “an exceptional experience beyond retail” was introduced in January. It is a collaboration between government agencies such as Singapore Tourism Board (STB), Urban Redevelopment Authority (URA) and National Parks Board (NParks), together with the Land Transport Authority (LTA).

Beneficiaries – people living in Orchard Road area

This should spark further renewal in Singapore’s prime Orchard Road district. “The primary beneficiaries of the Orchard Road makeover are going to be the residents in the area,” says Low.
It also presents an opportunity for investors and owner-occupiers who want to gain a foothold on Orchard Road and enjoy the possibility of future capital upside, says Low. In March, he brokered the sale of a 1,755 sq ft, three-bedroom unit at The Lumos on Leonie Hill in prime District 9 for $4.4 million ($2,509 psf).
A freehold, 53-unit condo in a 36-storey tower, The Lumos was designed by award-winning, London-based architecture firm SMC Alsop and completed in 2011.
The Lumos is a two-minute drive from Orchard Road shopping malls such as Ngee Ann City and Mandarin Gallery, and a three-minute drive to the malls at the Somerset area. If one prefers to walk, it will take about 11 minutes.
The 53-unit The Lumos on Leonie Hill Road presents buying opportunity at prevailing market prices (Credit: Koh Brothers)

‘Attractive buying opportunity’

With the Orchard Road rejuvenation taking place, Low feels The Lumos...