STIRLING RESIDENCES REVIEW
Stirling Residences is a joint-venture project between Logan Property and Chinese developer Nanshan Group.
Logan Property and Nanshan Group won the bid for this 99-year leasehold, on a 227,220 sqft site along Stirling Road. They place a top bid of $1.003 billion, which translates into $1,051 psf per plot ratio (ppr), beating 17 other bidders in the tender last May. This high land cost translates into an estimated breakeven price of $1542 psf (after adding in building cost, finance cost, admin cost, marketing cost and profit margin).
Stirling Residences is located just behind Queens Condominium, it is only 270 metres away to Queenstown MRT station, and it will take about 3 minutes walk. From Queenstown MRT Station, it is just 5 MRT Stops away from Raffles Place MRT Station.
If you are driving, it would take about 9 mins to Orchard, or if by MRT, it is 9 stops away.
Shopping and Dining
When it comes to shopping and dining, Queenstown area has many to offer. Within a 5 min walk, residents have access to at least 5 coffee shops.
It is also located near to many amenities near Mei Ling Street, where there are wet market, food centre, NTUC supermarket, and schools, clinics, education centres.
Nearest shopping area is Anchorpoint, which is nearby, where
you can find shops like Charles & Keith outlet, FOX outlet, Billabong outlet and others and a Cold Storage supermarket in the basement. Across the road you have IKEA and Queensway Shopping Centre.
Stirling Residence is built with a childcare centre; this will facilitate lots of convenience for young married couples.
Nearby to Queenstown are many popular areas such as Tiong Bahru, Alexandra, Buona Vista, Holland, where it has many interesting complements to the lifestyle of many residents.
Hospitals and Clinics
For healthcare needs, there are Alexandra Hospital, Gleneagles Hospital and National University Hospital, all within a short drive from Stirling Residence.
Schools
There are many good schools in close proximity to Stirling Residence. They include New Town Primary, Gan Eng Seng Primary, Queenstown Primary and Secondary, Crescent Girls’ Secondary, Anglo-Chinese School (International), National University of Singapore and Singapore Polytechnic.
Parks and Recreation Areas
Nearest to Stirling is the Alexandra Canal Linear Park [1], a quiet Riverside walk which is 5 minutes away from Queenstown MRT station.
Stirling Residence Details
Stirling Residence consist of two 40-storey towers and one 38-storey tower, which means those on very high floor above 25 storey will have a clear view of the city as well as the coastline.
Also, all three towers will be raised 15m — equivalent to five storeys — above street level, which mean the 2nd floor is as high as 6 storeys.
There will be a total 1259 units. The expected date of T.O.P, vacant possession is April 2022.
This condominium offers a wide range of unit types — from one- to five bedroom (even penthouses), which will appeal to any type of buyers.
Stirling Residence was launch for sale in 2018, the day of the announcement of the 2018 cooling measures (increase in ABSD to 12%). It caused a huge rush on launch day, 200 units were sold that day.
RENTABILITY OF STIRLING RESIDENCES
If you were to do a search on rental contracts for May 2020, you will find that rental is quite good, for a 2 bedroom unit, average rental is $3300, if you take the cheapest 2bed avail now at $1,305,000 #20-09, 635 sqft, that works out to a gross yield of 3%.
We expect Stirling Residence to have good rentability when it is TOP because being new and with more facilities, it will attract more tenants, and the expected rental amount should be around $3500 for 2bedroom.
Key Selling Points of Stirling Residence
The main selling point about this project is its location, and its close proximity to MRT stations that is just 5 stops away to CBD and 9 stops to Orchard.
Queenstown is part of RCR, (rest of central region) and it is usually priced more than OCR properties.
Being so near to CBD, One North and MapleTree Business, Orchard means the supply of tenants is more abundant, it is very convenient for tenants to stay close.
As of today, 13 July, more than 84% of this project is sold, and now only high floor units are left for most bedroom types.
The setback for this project is that it is not near to a mega mall unlike areas like Clementi or Tiong Bahru, it is always good to be near shopping area for convenience and lifestyle needs. Being near to a mall is always a draw for tenants as well as home owners.
Stirling Residences Condo Facilities
Stirling Residences features an abundance of condo facilities, about 80 different selections in total.
This includes a 50-meter infinity lap pool. a state-of-the-art gymnasium, putting green for golf enthusiasts, a tennis court, BBQ pavilions, YOGA pavilion, and many outdoor dining and massage pavilions.
There is also a kids’ club plus an adventure playground. For other water facilities there are Aquafoot relexology, and Aqua Gym if you require some relaxation.
In terms of landscaping, Stirling Residences is being designed with the nature-living concept, it is divided into three main themes: Fern Forest, Tropical Forest and Rainforest and all the facilities are split into these three zones.
STIRLING RESIDENCES FLOOR PLAN
There are three show units on display at the Stirling Residence showroom
- 4-room (1,346 sq ft.),
- 3-room Type 3BR-P (1,055 sq ft.)
- 2-room Type 2BR-P2 (678 sq ft.)
In this crowded new launch market, Stirling Residences stands out by offering a lavishly designed 4 Bedroom unit of good size 1346sqft.
This 4Bedroom has a 135 sq ft. balcony, which provides depth and extra space for additional furniture while making the living area look bigger. Balcony also allows for natural ventilation to the unit..
There is a dry kitchen area in the living room, makes the living very conducive and warm.
This 4 Bedroom unit also comes with an ensuite junior master on the right, it is complete with shower head and rain shower. This unit can fit in a queen size bed, and is suitable for grandparents or house guest.
The kitchen area is spacious comes with lots of storage cabinets and a store room.
The common bedrooms, are 94 sq ft wide enough for queen size beds.
The Master bedroom size is 208 sqft, big with no balcony. There are 3 types of 3 Bedroom avail in Stirling Residences, namely 893 sqft, 980 sqft and 1055sqft.
At 1,055 sq ft., this 3 bedroom unit has a closed off kitchen separated by see-through glass to the living room, this gives a DIN TAI FUNG type of feel to the kitchen. This 91 sqft kitchen comes with a store room and a WC. And there are windows in the kitchen and in the WC that provides ventilation. The kitchen is spacious and functional for 2 persons to cook in kitchen. A full suite of kitchen appliances from fridge to oven to cooking hobs are provided.
The design of the balcony is like an extension of the living room, it is great for relaxation and can even serve as an outdoor dining alfresco. This living and dining room is almost similar in size to the 4 bed except it does not have a dry kitchen.
2 Bedroom Type 2BR-P2 (678 sq ft.)
There are 7 types of 2Bedroom units , size from 624 sqft to 786 sqft. The showroom model is the mid-size 678 sqft
This dumb bell design of 2 bedroom is very conducive and offers lots of space. The open kitchen can be sealed off and enclosed with a sliding door. It is tugged in a corner and makes it look neat and contained.
The common room can fit a queen bed, and like the master room , it all face out to the same direction of the balcony, so you should be able to get good view, especially those on higher floors.
The master bedroom is 158 sq ft, and it can fit in a King Size bed. The full windows make the room brighter and feel larger.
Overall this size of 2bedroom is well designed and should be popular among investors and small families.
Stirling Residence Prices
As mentioned, we are already 84% sold, and now mostly high floor units are left for most bedroom types.
To-date 13 July 2020, based on the 1061 units sold, the average psf of this project is $1,815 psf, and because the remaining units are all higher floors, the psf will be higher too.
Stirling Residences Developer
Stirling Residences’ developer, Logan Property and Nanshan Group, are both established international developers. Logan is listed in HK, and most of their projects are in China. Stirling Residences is their pioneer project in Singapore.
On the other hand, Nanshan Group is well established in Singapore, with their last project, Thomson Impressions, they have enjoyed profitable sales and earned quality reviews for its interior design.
Conclusion
We feel that Stirling Residence is a good buy because it is one of the few RCR properties available. Its location is ideal for rental , and good for owner use as it is very centrally located and closely linked to CBD and Orchard.
The price is a little high now because most of the remaining units are on higher floors. It is still a good buy with good rental yield of 3%, and potential capital appreciation once it is TOP.
District 3 is full of HDB owners who are always on upgrading move to condo, and this will form a good potential buyer pool for resale when Stirling is TOP.
If you are unsure of which floor to choose or which facing is best, do contact me for a full consultation over ZOOM or in person. All show flat viewing is only by appointment, so do let me know and I can arrange a visit for you. Or if you want to do a financial evaluation before deciding on whether to buy a property, do reach out to me.
Book an e-appointment with me now or call me at 91092177. Thank you.
Rick Fok is a realtor with OrangeTee & Tie Pte Ltd. He has been in this real estate business for 10 years. He is very focus in helping his clients rent properties and he does help many customers to buy new projects according to their needs. His interest include sports such as running and soccer besides just real estate work. He loves to connect with people to discuss properties related issues and gets enormous satisfaction in helping them fulfill their needs
If you have any queries on this topic or other , please do give Rick a call and he can arrange for a discussion over a cup of coffee.
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