The upcoming new condo at Ang Mo Kio Avenue 1 sits on a land 99-year lease and is anticipated to be developed with 370 luxury units. Urban Redevelopment Authority (URA) has granted a S$381.4 million or S$12,031 per square metre gross floor area tender to United Venture Development for private residential property at the location mentioned above.
United Venture Development is a joint venture between the UOL Group, the Singapore Land Group, and the Kheng Leong Company and was the top bidder in the tender. The land, which is 12,679.4 square metres and is located directly across from Bishan-Ang Mo Kio Park, was offered for sale with a 99-year lease. This is one of the better condominiums we’ve seen in years, and experts praised the land price.
The Ang Mo Kio Avenue 1 project is 500 meters from the Thomson East Coast Line (TEL) Mayflower MRT Station. It aims to increase connectivity to the eastern half of Singapore while reducing commute time within the city. The project is also close to the AMK Hub shopping mall, the Ang Mo Kio MRT station and bus interchange.
Mayflower MRT Station is part of the 2nd phase of the Thomson East Coast Line, which opened on 28 August 2021. The 2nd phase of the TEL line currently connects Caldecott MRT to Woodlands North MRT. When phase 3 opens tentatively in 2022, we can see the MRT line extending to Gardens by the Bay. With stage 3 of the line, future Ang Mo Kio Ave 1 condo residents can reach Orchard Road, Central Business District (CBD) and Marina Bay area with just a train ride. Thomson East Coast Line (TEL) trains will arrive at stations every five minutes during peak hours and nine minutes during off-peak hours.
When completed, the Thomson East Coast Line (TEL) will be 43 kilometres long and connects Woodlands North (TE1) to Sungei Bedok (TE31), passing Upper Thomson, Stevens, Orchard, Marina Bay, Tanjong Rhu and Marine Parade. TEL2 will be the name of the next six-station line, which will have two interchanges at the Caldecott Circle Line and Bright Hill, as well as a future island connection.
Suppose it is the final government-owned property in Ang Mo Kio in seven years. In that case, UOL Group expects great demand and wants to convert the site into a 24-to 25-story residential skyscraper with more than 370 residential units. According to the company, UOL plans to build a 24-to 25-story building with 370 residential units. Because this is the area’s first government-owned land auction in six years, the business anticipates strong interest in the project.
Recreational and educational amenities like Bishan Ang Mo Kio Park, Windsor Nature Park, Mayflower Secondary School, and Eunoia Junior College are located along the north and south corridors. The Ang Mo Kio Avenue 1 Condo is near Kebun Baru Landed Housing Estate and Shangri-La Park Landed Estate, both public housing estates.
Mayflower Station, located on the Thomson East Coast Line (Level 2), will give future residents the best access to the Woodland Regional Center and the East Coast Central Business District. The forthcoming Mayflower MRT station, which will provide convenient access to the Cross Island Line and Bright Hill Interchange Station, is 400 meters away from the Ang Mo Kio Avenue 1 Condo. Residents may have to wait for another two to three years for a station.
At 1 Ang Mo Kio Avenue, about 370 new apartments are expected to be erected, luring new households to the region. Although there have been few new apartments erected in the neighbourhood in recent years, this project has piqued the curiosity of buyers, particularly HDB households in places such as Bishan looking to purchase a property. Another fantastic new private apartment development is located at 1 Ang Mo Kio Avenue, just minutes from the Thomson East Coast Line’s new Mayflower MRT Station.
This is one of the few developments that adhere to the most recent URA land and housing criteria. The business is well-known for its residential developments, including Principle Gardens, Ansley Avenue South Residences, Condo Hill Apartments, Eight Chuan Tudor, and Ten Eden. By the end of 2020, the government will have confirmed the sale of only two of these units on the GLS list.
It is 400 meters from the nearest MRT station on the Thomson East Coast Line (Mayflower), conveniently connecting the Cross Island Line and Bright Hill Interchange Stations. The Ang Mo Kio condominium is located on Avenue 1, 500 meters from the Ang Mo Kio MRT Station, which improves access to the city’s eastern sector and shortens commute times between the city and the state.