Sunday 30 September 2012

Riversails Review (NorthEast District)

Details of this project
Developer: Allgreen Properties Limited
Property Address: Upper Serangoon Crescent (New side road to be built)
Legal Description: Lot 9557A MK22
Site Area:24,620 sqm/Approx. 265,000 sqft
Type of Development: Full condominium facilities
No. of Blocks / Storey / units 12 blocks / 18-storeys / 920 units
No. of Car park lots 930 carpark lots (Extra 10 lots)
Tenure 99 years commencing from 7 December 2011
Expected T.O.P date 30 September 2017
Expected Legal Completion Date 30 Sep 2020

 This is the plot of land that Allgreen got at a steep discount relative to surrounding sites such as Riversound and Boat Quay. The psf ppr approximately S$290 however, Allgreen is launching this project in line with the surrounding market pricing. Reason is that there were many cheques offered in particularly for the 4 bedders and which leads to preview pricing of S$840-S$850psf on is making supernormal profits out of this! The 1 bedders were itself 3 times oversubscribed. During my visit today, noted lots of cars and potential buyers swamping the showflat....demand is still hot for private properties despite the economy slow down.

Nice water features outside the showflat

Another shot of the water feature

Carpark lots were fully taken!
Location and Amenities

There will be a mini commercial centre from the BTO opposite Riversails. This will benefit the all residents staying in the area. The park connector will also bring one to the Punggol good for those who likes cycling and jogging. This location is also just next to the KPE exit thus making it extremely convenient for those who drive. The nearest LRT will be Kangkar station which will take one to Seng Kang MRT (10-15mins walk). But no worries, the developer Allgreen will be providing complimentary shuttle bus services to Hougang MRT/Bus Interchange for the first 2 years....extremely generous of them.

I actually like how the neighbouring area are being developed with modern clean cutting BTO, DBSS, Executive Condominiums (Austville and Heron Bay) and Private Condominiums (Riversound and Boat House) which give rise to an exclusive and unqiue district. Riversails is also set to benefit from the up and coming Selatar Aerospace industry.

Site Plan: Part 1 of 2 (Ground Level)

Site Plan: Part 2 of 2 (Sky Lounge)

Unit Distribution of Riversails

Showflat and finishing

There are 4 models on display: (i) 1 Bedroom; (ii) 2+1 Study (914sqft); (iii) 3 Bedroom (1108sqft) and 4 bedroom (1367sqft). For all units, built in shoerack outside main door and also built in fridge. The rubbish chutes are built within the units. Toilet bowls given are also of the silent type. Marble floor finishing (timber flooring for bedrooms and study) by Allgreen. Good quality finishing by the developer. But I am not exactly a huge fan of marble floor and marble walls in the Master Bathroom, just think that it is not practical. My personal preference would be non slip tiles over perceived grandness.

My favourite layout and facing are actually those 2+1 Study units that are facing the 50M main pool or the dip pool. Get low floor (2nd to 6th floor) to enjoy the pool view. The 2+1 units are also suprisingly spacious and decent size. Rare these days to get 2+1 over 900sqft. The balcony is also spacious enough for the dining table to be shifted there if the buyer choose to do so. This will free up even more area in the unit.

2+1 Floorplan of Showflat on Display

On the other hand, the 3 bedder on display is quite disappointing. A unique selling point here is the transparent glass installed in the Master bedroom and bathroom. This allows couples to see what each other are doing in the toilet. I was told the developer would not accept any request for customisation. For those who wanted privacy has to settle this issue themselves when it TOP. 3 bedder also a little too small for comfort. Just do not like the feel of the Masterbedroom which was more cramped than I expected. My personal advice would be to stay clear of units facing the busy Upper Serangoon Road as it does get very noisy.
3 Bedroom Floorplan of Showflat on Display

The 4 bedroom also has the same issue as the 3 bedder: It felt cramped. Strange that developer are still building junior master bathroom. For better and more efficient usage of space, one common toilet/washroom is actually more than enough. Why waste precious space? Good thing about 4 bedder is that they come with bathtubs in the Master....awesome!

4 Bedroom Floorplan of Showflat on Display

Ending Note:
I think that for the price on offer, the units at Riversails are still very much value for money. But if Allgreen had not revised upwards the prices for the 4 bedders (the last I heard was going for 800psf or less during the intial planning), it would have even been better for buyers. The cheques gathering exercise has shown a strong and robust underlying demand for private properties despite the huge supply in this area as well as weak global economic condition.

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