The Antares is an interesting development for me personally as I do like this location. I live rather close to this area and I do visit the sports facilities which are located just opposite the actual site of The Antares.
Details about the development
The Antares is a 99-year leasehold development by FKSH Development Pte Ltd. FKSH Development is a consortium made up of Hock Lian Seng Holdings, Keong Hong Holdings and TA Corporation. The Antares’ 99-year lease commences from 14th of August 2018. It will consist of 2 blocks of 5-stories, 1 block of 17-stories and 1 block of 18 stories making up a total of 265 residential units with 2 levels of basement carparks. Back in April 2018, the consortium of Hock Lian Seng Holdings, Keong Hong Holdings and TA Corporation beat 9 other bidders to win the site in a government land sale exercise. The top bid of SGD$223 million translated to SGD$1,109 per square foot per plot ratio (psf ppr). Analysts predicted that the breakeven price for units would range between SGD$1,700 to SGD$1,800. The Antares’ expected date of vacant possession is November 2022.
Where is the development located?
The Antares is located along Mattar Road which is just off Aljunied Road. It is located just next to Mattar MRT Station and opposite the Home United Youth Football Academy.
According to Google Maps, it would take you 3 minutes and you would have to cover a distance of about 280 meters to get to Mattar MRT Station. I do think that this distance may be shorter as the entrance of the development is not well-plotted on Google Maps and I am personally unsure if there is a side access closer to the MRT Station. The exit closest to the development would be exit B.
There is a bus stop nearby The Antares, just opposite Mattar Road MRT Station exit B. The bus services that are accessible from the bus stop are 40, 61, 63, 65, 66, 66A, 135, 154, 155 and 158.
Currently, there are empty plots of land around The Antares. From the Urban Redevelopment Authority’s (URA’s) Master Plan, these plots of land are earmarked for residential use.
Travelling to Raffles Place MRT Station would take about 14 minutes over 8 stations. You would have to make changes to get to the East-West MRT Line. It will cost SGD$1.35.
Travelling to Orchard MRT Station would take about 16 minutes over 10 stations. You would also have to make changes to get onto the North-South MRT Line. It will cost SGD$1.43.
Travelling to Changi Airport MRT Station would take about 23 minutes over 11 stations. You would also have to make changes to get onto the East-West MRT Line. It will cost SGD$1.59.
The drive to Raffles Place will take approximately 14 minutes. The distance travelled is about 7.6 kilometres and optimally, you should travel via Nicoll Highway. Do note that I am doing this query on Google Maps on a Sunday evening when traffic conditions should be very optimal. Do factor in some additional travel time during the usual peak hours.
The drive to Orchard Road will take approximately 15 minutes. The distance travelled is about 8.1 kilometres and optimally, you should travel via the CTE. Do note that once again, I am doing this query on Google Maps on a Sunday evening when traffic conditions should be very optimal. Do factor in some additional travel time during the usual peak hours.
The selling points of the development
I was looking forward to this development for some time. I do visit the football academy to play football regularly and thus I can perhaps give a more personal take to this review. I do think that this area is rather under the radar in terms of its location and this is a good place to live. I do think that the locational attributes are very good. It is located right next to Mattar MRT Station which is on the downtown line and thus it would bring residents into the heart of the central business district easily.
There are loads of amenities in the area. There are three food centres in close proximity, the Circuit Road Hawker Centre and another two at blocks 80 and 89. There are also wet markets at blocks 80 and 89. Macpherson Road and Geylang are also in close proximity and there are a huge host of food options there as well. There is a community centre and many convenience stores and coffee shops around this area.
There are no condominium units close to Mattar MRT Station. The only private properties are the landed estates located north from the MRT station. If you were to look at the next few MRT stations along the Downtown Line, Macpherson, Ubi, Kaki Bukit, Bedok North, Geylang Bahru, Bendemeer, Jalan Besar, you would notice that there are no condominiums located right next to these MRT stations. There is a good chance that if someone was looking for condominiums to rent or buy along this side of the Downtown Line, The Antares would pop up as an option.
Possible bad points about the development
In times when huge community malls are popping up, there is a lack of one close to The Antares. Based on the plots of land in the area, there does not seem to be a possibility of one popping up. Malls do draw tenants and home buyers. A shopping mall with a good mix of tenants, a supermarket and perhaps a cinema to boot does have its draws.
The Circuit Road area is rather dated. It is surrounded by very old HDB flats and this could be a reason for younger families to shun properties in the area. That being said, this area just requires the Housing and Development Board (HDB) to come in and redevelop a few HDB clusters through the Selective Enbloc Redevelopment Scheme (SERS) to rejuvenate the area.
There may be competing developments coming up in the future. The plots of land previously illustrated do show that more residential developments are earmarked for this area.
My thoughts about the development
I do think that this is one of the better new project launches in the second half of 2019. The lack of condominiums near this segment of the MRT Downtown Line does make this a rather intriguing proposition for those looking to buy to rent. The closest comparison would be Le Crescendo which is located along Paya Lebar Road and the nearest MRT Station would be Macpherson MRT Station. Prices at launch are on the average hovering just below SGD$1,800 psf. This is perhaps close to what analysts are touting as the breakeven point for this development. The developer bought this plot of land just before the last round of property cooling measures and thus I do think that their margins are rather slim judging by launch prices.
I do think that there will be some spillover effect from the rejuvenation of the area around Paya Lebar MRT Station. In the long run there is the relocation and redevelopment of Paya Lebar Air Base. I do also see a potential for the government to rejuvenate the area around The Antares, namely the HDB flats near Circuit Road.
I have always maintained that property prices are ahead of fundamentals and I am according such a score not to The Antares alone but even though The Antares is pricing in line with expectations, the market as a whole is due for a minor correction. That being said, this developer purchased the land at the peak of the last collective sale fever and is now launching the development during a much weaker property market.
Being so close to Mattar MRT Station should make renting or reselling relatively easier as compared to other developments not close to the Downtown Line. I do think that your consideration should be whether neighbouring MRT Stations have condominium developments that are next to them. The Antares is the only development next to an MRT Station along a train line that spans from Bedok North MRT Station all the way to Jalan Besar.
Collectively, the consortium does have a decent track record. Hock Lian Seng has completed projects like The Skywoods and Ark @ Gambas. Keong Hong Holdings has worked on projects like J Gateway and Twin Waterfalls. TA Corporation has the most extensive record even dating back to 2001 and its portfolio includes developments like Casa Rosa, Kembangan Villas, Leonie Hill Residences. Their recent developments include iResidence Hotel and 12 on Shan.
p.s. Disclaimer: I am a licensed real estate salesperson at the point of writing this review. My real estate agency is the marketing agency for The Antares. Buyers can approach me to purchase The Antares and I will earn a commission from the developer. My reason for writing this review is to share my personal view about the developments not as a real estate salesperson but in the neutral context of a buyer and hopefully share some insight to help buyers make a more informed buying decision.
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