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Midtown Modern, The Dream Home For Hip Urbanites

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Midtown Modern, The Dream Home For Hip Urbanites

Property Giant

February 1, 2021

Midtown Modern is an upcoming 99-years lease condominium development project by a joint venture between GuocoLand Limited and Hong Leong Holdings. Located along Tan Quee Lan Street in District 7’s Bugis, the development promises a luxurious home in the heart of Singapore surrounded by conveniences.

The property can fit approximately 580 residential units within its 124,000 sq ft land area, with selections ranging from 1-bedroom homes to 4-bedroom penthouses. Thanks to its unparalleled accessibility and facilities, Midtown Modern is the perfect choice for single urban dwellers with a fast-paced lifestyle or families with children looking for a comfortable abode in the city.

WHAT MAKES MIDTOWN MODERN AN IDEAL HOME?
Midtown Modern Development Site

One of Midtown Modern’s key selling points is its location and the countless public amenities and facilities within close reach. The condo is in District 7’s Bugis, well within the Core Central Region, where you can find plenty of high-end residences. Living in the area is the most convenient it can get in Singapore: public transportation is within walking distance, reputable schools providing quality education are everywhere, and shopping malls are practically inches from each other. Everything you need is so close to the condo that there is no need to travel far to other parts of the country.

Since Midtown Modern is in central Singapore, it will also enjoy the developments under URA’s Master Plan for the Central Region. The residents will experience continuous improvements in transportation, amenities, and business opportunities over the foreseeable future, which means they will see positive changes in their quality of life. At the same time, this will bring high demands for the property and drive up its market value, which means good news for investors looking for profit.

MIDTOWN MODERN HAS GREAT ACCESSIBILITY AND CONNECTIVITY
Midtown Modern - Nearby Locations

Since Midtown Modern is inside central Singapore, finding public transportation is extremely convenient. The nearest would be the Bugis MRT Station (DT14 EW12), located 3 minutes’ walk away from the condo. A little farther than that is Esplanade MRT Station (CC3) and City Hall MRT Station (EW13, NS2), which only take a 9-minute walk and a 12-minute walk from the condo, respectively. Other nearby MRT stations include the Nicoll Highway (CC5), Promenade (CC4, DT15), and Bencoolen (DT21), all under 15 minutes distance by foot. For those who prefer taking the bus, Bugis Station Exit D is a 4-minute walk away.

If you are a vehicle owner, you can use the nearby major roads and highways, including Victoria Street, Rochor Road, East Coast Parkway (ECP), and Central Expressway (CTE), to drive around the neighbourhood and reach other parts of Singapore.

MIDTOWN MODERN IS NEAR TO SCHOOLS AND LEARNING INSTITUTIONS
Source: Stamford Primary School

Parents that wish for the best education for their kids will appreciate living in Midtown Modern as there are plenty of reputable schools nearby. Families with younger children have several primary schools they can choose from, while those with young adults have a multitude of higher learning institutions options nearby. Here are some of them:

i. Stamford Primary School (0.54km)

ii. Farrer Park Primary School (1.84km)

iii. Nanyang Academy of Fine Arts (0.54km)

iv. First Media Design School (0.70km)

v. Singapore School of the Arts (1.05km)

vi. Insworld Institute (1.13km)

Besides the ones mentioned above, there are also other schools located farther away, such as Anglo-Chinese School, Singapore Chinese Girls’ School, St Joseph Institution, and National Junior College. However, these are situated along the MRT lines, so they are also easily accessible from Midtown Modern.

MIDTOWN MODERN HAS PLENTY OF SHOPPING MALLS CLOSE BY
Source: CapitaLand Mall Trust

One good thing about living in Midtown Modern is how near it is to supermarkets and shopping malls. Any essential items you need are just within close distance, and many of them are accessible on foot.

For your groceries, there are several supermarket franchises you can drop by, such as Cold Storage in Bugis Junction, NTUC Fairprice in Tekka Place, and Market Place by Jasons in Raffles City.

If you are a shopaholic in search of great malls to visit, here are your selections:

i. Bugis Junction & Bugis+

Formerly known as Parco Bugis Junction, this shopping mall is only a 2-minute walk from Midtown Modern, offering its visitors an exclusive retail experience. Located just across the road is Bugis+, where you can find plenty of exciting stores inside its unique architecture. An overhead link bridge connects the malls, allowing seamless access between both.

ii. Bugis Street Market

While not exactly a mall, Bugis Street Market’s reputation as one of Singapore’s most popular shopping places means that it is a must-visit for everyone, including locals and tourists. This market is the place to go if you are looking for items, such as clothes, electronics, and accessories, sold for a low price.

iii. DUO Galleria

DUO Galleria is a shopping mall connected directly to the Bugis MRT Station, offering unique selections of retail stores and contemporary dining.

iv. Raffles City Singapore

Reachable in only 9 minutes on foot from Midtown Modern, Raffles City is an integrated shopping complex that houses over 200 exclusive stores, including renowned fashion brands and Michelin-starred restaurants.

v. Suntec City Mall

Suntec City Mall is only a 9-minute walk away from the condo, and it is one of Singapore’s largest malls with over 360 stores.

MIDTOWN MODERN IS SURROUNDED WITH LEISURE OPTIONS
Source: William Cho via Flickr

Since Midtown Modern is in the Downtown Core area of Singapore, there are many activities that you can do here. From exciting clubs to thrilling tourist hotspots, weekends here will never be boring. Here are some of the places that Midtown Modern residents can visit:

i. Gardens by the Bay

Gardens by the Bay is an award-winning urban park consisting of three unique waterfront gardens, accessible by a short MRT ride from Bugis MRT Station to Bayfront MRT Station.

ii. Singapore Recreation Club

With a reputation of being one of the country’s oldest social clubs, Singapore Recreation Club offers several sports activities and games to its members.

iii. National Museum of Singapore

The National Museum of Singapore is the oldest in the country, housing valuable artefacts that tell the history and culture of the city-state from centuries ago.

iv. National Library, Singapore

Dubbed as the country’s flagship library, it is only 5 minutes’ walk away from the condo, and residents of Midtown Modern can drop by to access its reading collections or resources

v. Esplanade – Theatres on the Bay

This performing arts centre is only a leisure 14-minutes walk from Midtown Modern, where you can watch exciting performances, indulge in yummy meals, or simply enjoy the beautiful waterfront view.

MIDTOWN MODERN HAS GREAT FOOD SELECTIONS

If you are a food lover, there are plenty of establishments in the area that surely satisfy your cravings. Tan Quee Lan Street and Liang Seah Street right beside Midtown Modern Development with its many shoplots of restaurants and dessert cafes, as well as Bugis Junction across the road are the closest food places, with food stores open well into the night. From Chinese cuisines to Asian fusion restaurants, there are many to choose from here. Not too far from Bugis Street is Albert Centre Market and Food Centre, where you can easily find hidden (and most certainly yummy!) gems amongst the numerous hawker stalls there.

Those looking to chill inside hip cafes and restaurants can visit Haji Lane. Here, you have plenty of selections for yummy treats you can get after a fun day of shopping along the street. If that is not enough, you can walk further north to the North Bridge Road, where you will be surprised by the local and international delights.

MIDTOWN MODERN IS A 99-YEARS LEASEHOLD

99-years leasehold development projects offer attractive advantages to both buyers seeking an own-stay purchase and individuals interested in investing.

99-YEARS LEASEHOLD ARE IN HIGH DEMAND

With boutique Freehold projects making up the majority of new developments these days, especially in traditionally prime districts like District 9, 10, and 11, a 99-Years Leasehold new development’s lower quantum price of at least 15-20% of a Freehold property in the same area creates an attractive value and high demand for interested buyers.  

Not only is the 99-Years Leasehold a great option to avoid “freehold premium” and hefty luxury furnishings price tag from developers, but its affordable prices also allows buyers to have a reasonable outlay on their property purchase. This certainly makes a difference for upgrading buyers, with the inclusion of ABSD (Additional Buyer Stamp Duties) since 2018, where 12% of a property’s price has to be paid upfront first even if the buyer has plans to sell their current property.  

99-YEARS LEASEHOLD OFFERS GREAT VALUE FOR PROPERTY INVESTMENT

Compared to its freehold neighbours, the 99-Years Leasehold projects also hold excellent potential for capital appreciation, since a higher volume of transactions is expected in Leaseholds than in Freeholds, which are generally regarded for legacy building and passing down through generations. Other factors, such as initiatives outlined in the URA Master Plan for that particular district, can also influence the property’s appreciation value.  

Investment buyers wishing to rent out their property will also enjoy expected higher rental yields for the 99-Years Leaseholds in prime districts. This is because the leasehold’s combination of prime district addresses and excellent property amenities allows them to demand more competitive rental rates than the freehold properties while making less upfront capital commitment.

MIDTOWN MODERN’S DEVELOPER BACKGROUNDS

GUOCOLAND LIMITED

Source:  Guacoland

GuocoLand is an award-winning developer based in Singapore with an established track record spanning across Asia. Listed in the Singapore Exchange Securities Trading Ltd in 1978, GuocoLand currently operates in Singapore and other countries, including Malaysia, China, Vietnam, Australia, and the United Kingdom.

The group’s core businesses include property investment, property development, property management, and hotel operations, with a portfolio comprising about $10 billion in hospitality, residential, retail, commercial and integrated developments throughout the region. GuocoLands past projects include Wallich Residences, Goodwood Residence, Guoco Tower, Sophia Residence, The Waterline, Leedon Residence, The Quartz, East Coast, and Elliot.

HONG LEONG HOLDINGS LIMITED

Source:  Hong Leong Group

Established in 1968, Hong Leong Holdings Limited (HLHL) is the privately-held property development and investment arm of the Hong Leong Group. As one of the pioneers of the real estate scene in Singapore, HLHL has since emerged as a significant player in the property scene, making it one of the most sought-after providers of a comfortable home. To date, HLHL manages some commercial projects. It has also developed close to 100 residential properties, including a range of mid to high-end residential projects in some of the country’s most coveted neighbourhoods.

HLHL’s past projects include St. Regis Residences, Commonwealth towers, One Shenton and The Residences at W Singapore Sentosa Cove.

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Click HERE to view Midtown Modern’s development listing details now!

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