The Scala Condo by Hong Leong | Beside Lorong Chuan MRT Station

The Scala Condo @ Lorong Chuan MRT

SOLD OUT

New Condominium Right Next to MRT Station on Circle Line

The Scala condo is a new condominium development that previewed and launched for sale on 28 July 2010, and set for completion within 4 years. It was expected to sell quickly, for the following reasons.

Affordability
Units are very efficiently designed and compact. The low wastage means smaller floor areas are needed, which translates to lower cost. One-bedroom units start from about $5xxK. Should be able to get 3.5 to 4% rental yield.
Next to Lorong Chuan MRT station on Circle Line
Properties within easy walking distance of an MRT station command a 15 to 20% premium over property further afield. The Scala excels in this respect – practically sits on the doorstep of the station.

Sheltered all the way from the Scala lift lobbies to the station, so you literally won’t get wet. Convenient and easy to rent out.
Connectivity
Condos beside an MRT station are a rarity. This one’s an easy train ride to Botanic Gardens, Holland Village, One-North, Harbourfront, National Stadium, Esplanade. Serangoon interchange to North-East line & Bishan interchange with North-South line are 3 minute hops away.
Amenities
A 10 minute stroll brings you to Nex Mega-Mall, with practically all the facilities you need – department stores, supermarkets, shops, banks, entertainment & food outlets, etc. Nanyang Junior College is next door. Walking distance to reputable schools like St Gabriel’s Primary, Yangzheng Primary, Zhonghua Secondary.
Investment Returns
This particular condo looks likely to be very popular with investors. Having a gate opening onto an MRT station, and being close to amenities & two international schools makes it easier to get tenants & good rental returns. Helps maintain its value, especially in downturns when tenants are harder to find.

URA Aerial View of the Scala Site Before Construction

The Scala Location View

View of Scala main entrance from along Serangoon Avenue 3. Lorong Chuan MRT station is on the left of the site, and Nanyang Junior College is on its right.

This project comprises five blocks of 17 storey residential flats with full condominium facilities & car parks on a 99-year leasehold land of 149,374 square feet. There are a total of 468 units of 1 to 4 bedroom flats. Sizes range from 473 sqft for one-bedroom units, to just over 1,270 sqft for the 4-bedroom apartments.

Scala Condo Pricing :: Update as at 02 August 2010

Prices average $1150 psf. While one-bedders (sold out by 1pm at the preview) cost from $1300 to $1400 psf, there were units that went for below $1100 psf.

Of the 468 units in the Scala, over 420 were sold within 5 days of the preview. Currently there’re about 15 units left as of 11 August 2010. The prices are roughly as follows:
. 1 Bedroom » approx. $580,000 onwards (sold out)
. 2 Bedroom » approx. $900,000 onwards (sold out)
. 2+Study » approx. $990,000 to $1.07m (still some pretty nice units available)
. 3 Bedroom » approx. $1.15m to $1.25m (a number of units still available)
. 3 Bedroom + Study » approx. $1.3m onwards (sold out)
. 4 Bedroom » approx. $1.5m onwards (2 low-floor units available)

A couple of penthouses are also available, ranging from $1.5m to 1.7m.