Stirling Residence is the latest development making waves in the whole of Queenstown. With a massive record of being the largest property acquisition in 2017 with a little over $1billion, it’s not strange that it will be the largest private residence so far in Queenstown after completion.

This amazing edifice also serves as one of the few government lands in District 3. With this new development (Stirling Residence), residents should expect a new living experience and energy to the once-forgotten ageing community.

Without further ado, let’s delve into what the Stirling residence entails fully. This will keep you abreast of what you stand to gain if you decided to become a resident of the astonishing project.

Origin of The Condo

Stirling Residence is part of the Government Land Scheme (GLS) programme for private housing in Singapore. It is the last parcel of land on Stirling Road. Although it has been on the Reserved list since 2010, it wasn’t launched for sale until early 2017.

However, the surprising thing is that despite the location being in a remote place and the long duration on the reserve list, this project attracts 13 bidders from major real estate players with an excellent reputation.

Also, the project broke another record of being the first GLS programme to ever reach a $1billion price point for a residential site so far. The Stirling Residence landmass is recorded at 230,000 square feet of land with a gross plot ratio of 4.2.

After series of bidding form different top players in the real estate industry, a joint venture between Nanshan Group and Logan Property finally emerge as the winning bidder in May 2017 with a bid of $1.003billion for this incredible piece.

With this, the seller price per a gross floor area is expected to start from $800,000 and above.

Developer

The Stirling Residence is acquired through a Joint venture between Nanshan Group and Logan Property (one of the listed companies on the main board of Hong Kong Stock Exchange.)

Nanshan Group

Nanshan Group is an active real estate company with an excellent reputation. Its most significant achievement is the development of Thomson Impressions Condo in 2016 and has taken part in 8out of 11 tenders since its activeness in the nation’s real estate scene.

Furthermore, the group was involved in other commercial projects such as Mercure Bugis, Tai Seng Centre, Park Regis and so on.

Logan Property

With over 20years experience in the real estate industry, Logan Property has been on the main list of Hong Kong Stock Exchange since 2013. They have a matchless reputation when it comes to property development, engineering design and construction.

In 2017, the company was featured among the Fortune China’s Top 500 Enterprise while maintaining the 26th position out of the top 100 real estate developers in China. Logan Property has more than 150 Residential Projects Housing under its name with over 600,000 homeowners.

With this reputation, the group decided to expand their tentacles overseas, and this led to their involvement in Stirling Residence (their first-ever residential project in Singapore.)

Design and Layout

With the amount used in procuring in the Stirling Residence and the well-thought-out plan by its developers, you should expect an outstanding design. It comes with 1,279 residential units, 1 childcare center, 1 block of 38 storeys and 2 blocks of 40 storey.

Site plan

It comes with a 4.2 ratio per plot with varying numbers of apartments ranging from 1 Bedroom to 4 Bedrooms plus a store with a bedroom measuring up to 441 square feet, 2 bedrooms plus study up to 764 square feet, 3 bedrooms at 883 square feet and 4 bedrooms at 1,346 square feet.

The 230,000 square feet landmass project also features 3 residential towers built in a way that wouldn’t make them block each other. This will avail the residents the opportunity to have an endless panoramic view of the surroundings as well as absolute privacy.

The expected TOP for this project is 20th of April, 2022 whilst the scheduled date of legal completion is 30th April, 2026.

Location

Stirling Residence is located at District 3 along Stirling Road, Queenstown Estate, Singapore. This development shares proximity with Queenstown MRT station which makes it’s the perfect location with access to significant areas on the Island.

Connectivity

Stirling Residence has great connectivity with areas such as the Central Business District (CBD), the Marina Bay Financial District, and the Orchard Road Shopping Belt. Furthermore, it has a direct linkage to major expressways and roads such as Alexandra Road, Ayer Rajah Expressway (AYE), and Tanglin Road.

3 mins walk to Queenstown Mrt

Getting to these destinations requires just 10-15 minutes of driving distance. What’s more, this project shares proximity with educational institutions, retails malls, shopping centers, and lots of other amenities that will make your stay worthwhile.

 

Amenities

As a resident of Stirling Residence, you’ll have unlimited access to but not limited to the following amenities;

  • Supermarkets: FairPrice Stirling Road, Good Year Supermarket, FairPrice Jalan Bukit Merah, Chop Guan Teck Hup Kee, and Buzz Queenstown.
  • Medical Centers: Alexandra Hospital, Gian Min Medical Centre, Soong Clinic and Surgery, First Medical Centre, and Mei Ling Clinic.
  • Restaurants: Monkey Thai Seafood, The Carvery, Queensway Lau Tan Tutu Kueh, Fook Seng Golden Hill Chicken Rice, and Keng Eng Kee Seafood
Ikea is 10mins walk away

Facilities

With the incredible plan and fantastic work put into achieving this project, it’s not strange that it will feature some astonishing facilities. Some of these include seamless access to forest themes, high-end ceilings, surveillance cameras, air-conditional modules, natural lights, proper ventilation, sky terraces, roof gardens, concierge service, and much more.

https://youtu.be/QG7-g63vQrQ
Facilities video fly through

Breakdown Analysis

District 3 rental yield outperforms CCR

One of the reason why district 3 is so popular with investors is the rental yield and potential capital gain. Not many are aware District 3 commands even higher rental yield compare to the prime district like 9,10,11. Nested in a mature estate and its central locality, sees major MNCs tenants coming from CBD, Mapletree business city, etc

District 3 rental analysis

Now lets come to pricing, we know Stirling residences is the best seller among it’s competitor in district 3 for numerous reasons. The developer even though acquired the land at a record high, they adopted a lower profit margin strategy and price close to current existing resale projects nearby. This is the same strategy they adopt for Florence residence, another best selling project in the north eastern singapore. In district 3 where we have seen buyers are already wiling to pay above $2000/psf, Stirling residences are selling at only an average of $1856/psf which is very attractive especially considering it is also the nearest to Queenstown MRT.

Now lets compare Stirling residences as a new launch to the surrounding exisiting resale in the market and it’s future competition. As you can see even developments like Principal Garden which is almost 1km away from the mrt is commanding similar prices as Stirling residence, i can certainly say its very safe to for investors to consider as usually new launches are much more expensive than resale.

Comparison of resale projects nearby

Conclusion

Stirling residences definitely tick all the boxes in every aspect for a value buy development. It’s prime locality, beautiful design , huge land size, high rental yield and competitive pricing among nearby older resale development is everything you can look for. I am personally starting to become a fan of Nanshan’s projects, they certainly know what buyer wants and offers more value than a lot of renown local developers. If you haven’t seen Stirling residences, i highly recommend you to put this into your shortlist.

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