RiverParc Residence review: Part 1
Whoa! This one almost slipped our radar but we thankfully our eyes were sharp. Coming to the north-east end of the north-eastern town of Punggol is Riverparc Residence, an Executive Condo developed by Qingjian Realty (aka Qingdao Construction). Let's take a closer look shall we?
The plot this new EC is sitting on was won by Qingdao Construction last September for a cool $136.1m or a cost price of $237 per square foot. We predicted a selling price of around $650 to $750 psf, we were right? Read on...
Developer: Qingjian Realty/Qingdao Construction
Tenure: 99-year leasehold
Expected TOP: 3rd quarter 2014
A impression of the pool.
Standard condo facilities like (we can close our eyes doing this):
50m Lap Pool
and a pretty large kids pool
The kiddie pool is quite big. Young families will appreciate.
Unit Breakdown and Typical Sizes:
2BR (829-1,055 sqft) x 34
3BR (990 – 1,356 sqft) x 238
3BR Dual Key (1,277 -1,528 sqft) x 68
4BR (1,238 – 1,668 sqft) x 119
4BR Dual Key (1,485 -1,755 sqft) x 17
2BR PH (1,539 sqft) x 2
3BR PH (1,981 – 2,067 sqft) x 14
3BR PH Dual Key (2,207 sqft) x 4
4BR PH (2,282 – 2,433 sqft) x 7
4BR PH Dual Key (2,357 sqft) x 1
Riverparc Residence is situated at literally at the furthest end of Punggol, at the eastern-most tip. It faces the Serangoon River (now Reservoir) to the east and the Straits of Johor and Coney Island to the north.
Directly west are 18-storey high-rise HDB blocks. Directly north lies the elevated LRT tracks and a planned school. Directly south is another planned residential area, which according to the URA Masterplan (see below), has the same plot ratio of 3.4 as RiverParc, meaning any high-rise residential block there will go up a similar height as this EC in question.
The Kadaloor LRT is a short walk away, four stops get you to Punggol MRT. There's a mini-mall called Punggol Plaza about 600m away where you can get your daily necessities. Nature-lovers will appreciate the many parks and rivers around the area, especially My Waterway @ Punggol which is about 170m away.
In the showflat we went, there was a giant humongous map of the entire Punggol area on the wall, with the MRT, the upcoming mall, My Waterway, etc. all clearly indicated and labeled. In their publicity materials, a similar map could be found.
Obviously the developer is trying their best to point out all the wonderful things that can be done in Punggol, yet it reveals their insecurity with Riverparc's main flaw - that it is poorly located. (The fact that there were only four bids for the land is also quite telling.)
Also we'd like to point out somethings that were not apparent in the showflat or the brochure. Firstly, the artists' impression that the condo could be seen from the banks of My Waterway. It looks as if the development is right by the water. That's not quite true as there's a school planned between the waterway and the development.
There is actually a school in front of the waterway
Secondly, on the giant map on the wall in the gallery, the planned residential development to the south of the Riverparc was not indicated. Instead, only the planned sports and recreation site was labeled. So it was "RiverParc - Empty SPACE - Future Sports and Recreation".
Maybe some letters fell out during the opening day hustle and bustle or maybe URA changed their plans, we don't know, we're sure there's no malice on the developer's part. But we're not too comfortable with the way things were presented.
Image: URA Masterplan 2008.
That aside, RiverParc is wonderful place if you have a car. A short drive gets you to everything you need, as indicated on the giant map. Punggol MRT, the upcoming mall, various parks and recreational areas are all within five to ten minutes drive. Getting to town is quick via the KPE too.
Site Layout and Units
Very nicely the blocks have a north-south orientation, so no hot noon sun. Sadly the elevated LRT line runs north and east of the development, meaning those low floor units have to deal with the trains passing by. Units begin from the first floor onwards, so 3rd to 6th floor units will be facing those trains.
Image: Onemap.sg. Note: Site overlay is approximate.
The units are something we like very much about RiverParc. They are more spacious than usual and there are a lot of dual key units on offer.
We love the walk-in wardrobe attached to the master bathroom. It frees up a lot of space in the master bedroom. What's more the windows are full-length, so there is no wasted space taken up by bay windows. Honestly, this condo's show gallery is more roomy that the ones we usually visit, if it's accurate, then it's a big plus for this development.
Some dual key units get two balconies too, one for each. Neat!
Walk-in wardrobe! Awesome! You can turn it into a study area too, or a big dressing room. Either way, we like it!
For best views (and there aren't that many) we suggest you get the ones high up facing north. Make sure they are higher than the LRT track and higher than the school in front. Those units should get the best unblocked views. So to be safe, perhaps 10th floor and above. Do note you will not get a view of the sea, more high-rise units are planned further up north.
They are quite good value. We were quoted $700k to $800k for the 3BRs and $790k to $930k for the 4BRs. So we're looking at $650 to $750psf price range here. Quite acceptable, we've seen DBSS going for $770k in Tampines, so for the same price you get a condo with full facilities and some strings attached. There aren't any condos planned in the areas around this EC, so RiverParc gets a the advantage of being unique here, having a 'monopoly' in a sense.
Executive Condos are made to be affordable and RiverParc is no exception. The location is not the most ideal so car ownership is a must. Between this one and the other EC, Blossom Residences at Bukit Panjang, it's hard to say which one is better.
Punggol looks like a very 'in' place to be at the moment, and the Govt does have grand plans for the town. Will it become the next Tampines or the next Jurong where prices of new condos are going for $1,000 psf? Who knows? If you believe that it will be, then go for RiverParc.
Registration closes tomorrow 5th July at 7pm at the showflat.
Stay tuned for the Site Recce and Floorplans. Images: Brochure.
Posted on 04-07-2011 17:44 | By John
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