Midtown Suites is a new integrated development located right in the heart of Beach Road by Guocoland. The location of Midtown Suites represents a prime piece of land that is iconic in the bugis and suntec city area and serve as Guocoland’s futuristic project that features many amenities located within the development. The joint venture was shared in a ratio of 70 to 30 percent between Guocoland and Guoco Group Limited Company. This collaboration ensured that the Beach Road site was acquired for a cost of 1.62 billion dollars. The development is set to launch on first half of 2019 which will see Grade A offices with unblock view as well.
Midtown Suite Facilities by Guocoland
Midtown Suite has full and unique facilities, which includes a guard house, clubhouse, function room, indoor gym, tennis court, huge 50m swimming pool, sun deck, BBQ pits & children’s playground. The condo’s facilities provide full family entertainment needs for your family and loved ones. Indulge in a serene and tranquil lifestyle right in the heart of Beach Road. Midtown Suite sits on the former Beach Road Police Station and plans are underway to retain the heritage building as part of Singapore Modern History.
Midtown Suites Location Near to Suntec City and Marina Square
Midtown Suite State tender integrated Condo by Guocoland is also strategically located with many shopping centres located around in the vicinity. For example, the popular Bugis Junction, Bugis+, Suntec City as well as Marina Square are near to Midtown Suites. Midtown Suites Condo is also located near to Esplanade Park where plenty of outdoor families are available for residents to spend some quality time with their family. There are also beaches and parks as well near to Midtown Suites.
Midtown Suites integrated mix development will be accessible with many of the MRT Stations such as Bugis, City Hall as well as Esplanade MRT Station on the Circle Line. Also, for owners who are taking buses, there are several buses available along Nicoll Highway and Beach Road. For owners who are traveling to the city, Midtown Suites is located right next to Central Expressway (CTE) and East Coast Parkway (ECP) and other major roads as well.
Midtown Suites is also near elite schools such as Singapore Management University, School of the Arts (SOTA) and Farrer Park Primary School. Other prestigious and upscale educational institutions are nearby too including those that are located near to the core business district.
Property Investment and Business by Guocoland
GuocoLand started its property investment and development business in late 1990. The group made a milestone in the venture by developing a 99-year leasehold apartments houses in Singapore. The developer has since then managed to fruitfully develop and lease 35 condominiums yielding around 9000 households. The group launched its name, the GuocoLand Limited in the year 2002 to redirect its efforts towards property development. Currently, the company tops in the best property corporations which are listed in Singapore exchange securities. By the year 2015, the company had a sum of assets amounting to S$9.51 billion. Midtown Suite site was triggered for sale under the Reserve List in the Government Land Sales Programme and the top bid came from Guocoland’s company GuocoLand units GLL Prosper and GLL Thrive, which submitted a top bid of $1,706 per sq ft (psf) per plot ratio (ppr) for the site location. It is a record land bid and the bid price is higher than the neighbourhood South Beach Residences also in Bugis as well.
Guocoland Property Development in Asia
The Guocoland group continues to expand its markets both locally and international with the latest project at Midtown Suite. A good example is Malaysia and Vietnam whereby the company opened new markets in the year 2005 and 2006 respectively. GuocoLand made a major milestone in its property development outside Asia in 2017 by opening other markets in Australia and the UK. In summary, GuocoLand limited company is property developer committed to providing quality and innovative projects both in Singapore and other new markets globally.
Guocoland’s Latest Live Work and Play Concept for Midtown Suites
GuocoLand’s Latest Beach Road Project for Midtown Suite is to Develop “Work-Live-Play” Business and Tourism-related Amenities in Bugis. GuocoLand recently topped the bid and won the Beach Road commercial site for $ 1.622 billion, which is considered the highest of the five bids as it set a new record on a unit basis by $1,706 per sq. ft. per plot ratio. There were some tender requirements that needs to be adhered though, such as a minimum of 665,424sqf must be restricted for office use given the total maximum permissible gross floor area of 950,594sqf. The remaining area can be used for hotel, serviced residences, residential or retail uses and there is a cap of 32,292 sqft for retails. The name of the integrated development is called Guoco Midtown and will comprise of the hotel, commercial and residential component of the development. The residential component will be called Midtown Suites and located in heart heart of Downtown Bugis.
Work Live and Play at Guoco Midtown Suites
With Chief Executive Raymond Choong’s plan of transforming the district into a business and tourism venue, it is expected that the latest Beach Road project of GuocoLand will “serve the changing work-live-play trends” with the completion of the commercial site development. GuocoLand Singapore group managing director Cheng Hsing Yao sees a lot of potential in the latest land acquisition of the GuocoLand Developer group since the commercial area offers a lot of space for the development of various amenities. Midtown Suite Guocoland joins the rank of other integrated developments in Bugis such as Duo Residences as well as South Beach Residences which has received raving reviews. The developments are close to many of the offices as well as shopping malls in Suntec City which includes the Suntec City Convention Centre and the different office towers where various international events are hosted. There are many facilities such as kids indoor playground as well as a whole range of food and shopping options at Suntec City.
Mix Development with Commercial Amenities Near to Midtown Suite Site
The plans of turning the commercial site that includes the old Beach Road Police Station is based from the direction the GuocoLand wants to take since it is near the South Beach Tower and the Duo developments – which are mixed-used integrated projects and an icon in the Bugis area with the same attributes as Midtown Suites. A matter of fact, the developer strongly believes that the site purchase is timely and just. That is because the site purchase is in line with GuocoLand’s business growth plans. Furthermore, it reflects their confidence in the property market as one of the leading land developers in Singapore. The initial selling price will be $2,200 to $2,400psf when it is launched for sale.
Midtown Suites integrated development together with amenities such as retail and commercial will be easily accessed due to many roads passing through it. Thus, making it very easy to link to other parts of the great Singapore Nation. Many people will live there since it’s located in a very strategic location surrounded by many elite learning institutions, shopping avenues, and many other amenities. There were also other bidders for the plot of land and these include Kingsford Hurray Development and a consortium led by OUE. Other developers include Cheung Kong Holdings-linked Japura Development.
Midtown Suites Residential Concept by Guocoland
Although this trend is not a new concept, the work-live-play trends or mixed-use integrated developments for Midtown Suite Nicoll Highway are starting to gain momentum nowadays as it offers versatility and practicality to most people caught in the fast-paced technological innovation and modernization. Most people choose to relocate to communities that offer a wide variety of housing that is close to local companies and workplaces, recreational facilities like restaurant and events centers as well as basic amenities such as school, supermarket, and hospitals. The site is made under the reserve list under the Government Land Sales Programme in Nov 2014.
Other than the development of commercial, residential, hotels as well as schools just naming a few, Guocoland is placed in a tactical and advantageour place place where other activities can be run. The area has a maximum security since there is a police station located on the beach road where this prime land is located. The developer will never destroy the constructions that are conserved on this land but is expected to restore them.
K Street at Bugis Street
The second floor of the street is called the K street, as it dedicated for the Korean made stuff. If you love Korean styled clothes and gadgets, then this is the place for you to find them all under one roof out of Korea. Bargaining is the way of buying here, and it is available almost at all of the shops. Don’t pay price until you have bargained. If the shop owner denies bargaining, don’t buy from that shop. You will find the same product at a low price at another shop. There are many other shopping centres nearby Midtown Suite Bugis which include Peninsula Shopping Centre Singapore, North Bridge Centre, Marina Square, Golden Landmark, Bugis Street, Kallang Wave Mall, Bugis+, Raffles City Shopping Centre, Sim Lim Square, Excelsior Shopping Centre, Peninsula Plaza Singapore and CityLink. The shopping centres near to Midtown Suite Bugis Mix Development together with the facilities provided at the moment changes city living lifestyle to the fullest for residents of the development.
Other than shopping at Bugis street also offers beauty services, including getting a tattoo or your nail did when you get a chance during shopping it’s very quick and very cheap. All of the attractions of the Bugis street are very cheap and fit easily into your budget.
Tender Details for Guocoland for Mid Town Suite
Guocoland aims to build an interesting project at Beach Road Site which is called Midtown Suite. This is after the company was awarded the project. Guocoland is a developer company located in Singapore. It deals in property investments and management of construction projects. The main objective of this organization is to make the site look like an iconic city center. In addition, it will be a work-live-play destination for many inhabitants in the region.
Midtown Suite integrated development site was declared for sale on July 6. It occupies an approximate area of 88,313 square meters at the maximum. This vast nature of the land attracted five interested parties who later placed their bids. The tender closed after a period of more than one month. This is due to its strategic location on Beach Road. The fact that is is located at Beach Road shows that Midtown Suite is located near to Bras Basah which have many exquisite fine dining locations as well as hotels for a more upscale living experience located right in the heart of the city. It is located near to the young and trendy popular Bugis+ where there are plenty of Food an Beverage Choices available to spend the weekend away.
Guidelines for The Planning for Midtown Suites Site
There are guidelines that govern the terms of agreement pertaining to the use of this site at Midtown Suite integrated development location. This includes an allowance for construction of two 45-story towers at most. Moreover, more than 70 percent of the floor area covered by the land can be put into use as office space. Finally, the remaining piece of land can be utilized to build a hotel or just used as a retail or residential space. A note that 70% of the gross floor area is to be put on Office use. A note that a lack of prominent developers such as CapitaLand, Keppel and CDL was unexpected given the site’s attributes and 4 out of the 5 bids received were foreign developers.
The group managing director for Guocoland Singapore, Cheng Hsing Yao said promised that Midtown Suites mix development will accommodate the dynamic trends that are observed in work-love-play. He further noted that the construction space is ample for creating amenities. This is because Singapore Guocoland will utilize the remarkable opinions for Marina Bay and Kallang Basin which is located near to Midtown Suite Guocoland.
Architectural Concepts and Design for Midtown Suite
In order to fully incorporate the development agenda at Beach Road into action, the chief executive officer for GuocoLand Group Limited, Mr. Raymond Choong stated that the company will outsource the requisite experience from Tanjong Pagar Center for the construction of Midtown Suite at Beach Road. This will combine the famous and well attributed architectural concepts of design plus efficiency and sustainability of the environment. Furthermore, GuocoLand Group Limited will incorporate its cultural aspect in order to achieve the desired goals in the construction of Midtown Suite Guocoland site. This will lead to serving the trends in the dynamic work-live.
Why Mix Developments are Popular than other Residential Development
Mixed integrated developments refer to the type of housing that combines residential and commercial spaces into one. These can either be in a city block, a complex of small buildings making a community or a single building (most commonly). The single building saves area and is designed in a way that its first few floors are commercial, usually a mall, and the rest of the building’s units are residential. Midtown Suites is a mix development with office, residential as well as commercial development that will change the way people live in Bugis.
Benefits of Mixed Developments
The convenience of having a shopping mall right downstairs is unparalled for Midtown Suites Beach Road. Everything within reach; no need to travel long distances to buy just some of the basic necessities. Whether you need a packet of chips, some groceries or a brand new pair of shoes, all you need to do is go down the elevator. You will have easy access to a variety of different restaurants and you would not really have to hurry if you’ve planned for a movie.
With everything within walkable distance for Midtown Suites Beach Road by car and buses, you will be cutting down on one of the highest costs of a month, the cost of fuel. You will not only save the money you usually spend on fuel; you will most certainly save the parking tickets you used to pay for even if it was just for a minute or so.
Higher Resale Value for Mix Developments
Properties close to MRT stations don’t always attract high rent. In mixed developments near to Beach Road, tenants usually look to pay more seeing that almost all of the daily’s requirements are easily available without having to travel much every day. Since people are willing to spend more on rent in these areas, it becomes obvious that a common man could not afford the apartments. By having wealthy spenders in the community, the reputation of the district increases in the market, attracting more investors.
If you ever decide to sell your unit, listing it on the market is the best option. People, especially foreigners are attracted to this style of living and you will surely find a buyer within no time. On the other hand, there is always the option to rent out our unit if you’re looking for a regular income throughout the year.
Academic Institutions and Schools Near to Midtown Suites
Besides convenience near to shopping centres and public transport, being located near to schools are very important as well as this bring in added convenience for your kids as well as the parents when traveling to and fro school from Midtown Suite location. Less traveling time is needed and this mean that the kids will have more time on tuition as well as their own homework. Parents does not need to spend time to get off work earlier to fetch their children back home leaving more time to do whatever they they seek for. Midtown Suites is located right in the heart of the city at Beach Road and is located near to LASALLE College of the Arts, School of The Arts, Nanyang Academy of Fine Arts, Insworld Institute, JCS Japanese Language School, City College Singapore, Boston Business School and Global School Of Technology & Management as well as other schools. The added convenience from the diverse range of schools available ensure that more time is available and less time is spent traveling.
Midtown Suites Close to Country Clubs for Affluent Individuals
Midtown Suite is located in the highly regarded location of Bugis Beach Road and Suntec area and this is a upscale residential location where owners are affluent and cosmopolitan. Therefore, Midtown Suites which is located near to many country clubs is ideal as there will be times where individuals need to meet up for some discussion or to build and their network and social contact. Midtown Suite Beach Road is located near to many clubs and this provide the perfect avenue and place for these people to gather. Midtown Suites is located near to Raffles Town Club, Hollandse Club, Singapore Town Club, The American Club, The Tanglin Club, Civil Service Club @ Tessensohn, Singapore Polo Club and Singapore Recreation Club which provide all the necessary facilities including function room, F&B, golf courses as well as swimming pools to gather.
Lower Debt Ratio and Higher Stamp Duty for 2nd Property Owners
The recent cooling measures introduced by the government has also prompt property investors to look into a new class of asset such as retail and commercial mix development. In particular, the stamp duty increase for 2nd property has increased 5% to the present 12% from 7%. This means that buyers who are looking for second property has to look at a lower quantum and freehold properties might be too expensive in the core city centre. In particular, Midtown Suite Condo at Beach Road is a leasehold development and therefore the quantum is not that high for 2nd property investors. The location of Midtown Suite Guocoland is also located near to many offices as well as retail centres and ready tenant base is available once Midtown Suite completes. The introduction of the Total Debt to Service Ratio has also restricted the amount of loans that are available for clementi property investors in particular for buyers who are taking a 2nd property loan.
Midtown Suites Bugis Site and Floor Plans
A wonderful and unique lifestyle awaits you at Midtown Suites right in the heart of Bugis. Please see Midtown Suites site plan and floor plans for more information.