Like announcement by the Housing Development Board (HDB), Sport Singapore and the Urban Redevelopment Authority (URA), Farrer Park Field is Singapore’s latest brownfield site to be redeveloped as a housing estate.
The 10 hectare Farrer Park site is bounded by Dorset Road, Keng Lee Road, Hampshire Road and Race Course Road. It will produce approximately 1,600 new HDB apartments and will go on sale over the next three years.
The new social housing development at Farrer Park Field will be designed with a unique themed concept that preserves its rich sporting history. It will be integrated with comprehensive sports and recreational facilities that will be open to all.
Here are 6 things to know about the new Farrer Park site development.
#1 Farrer Park Terrain History
According to the government microsite, Roots, Farrer Park Field, currently operated by Sport Singapore, was the site of Singapore’s first racecourse. Established in 1843, the racetrack was also used as a golf course, pasture and shooting range on non-race days.
In 1933, when the racecourse was moved to Bukit Timah, Farrer Park Field was finally opened to the public for recreational sporting activities like football and rugby matches.
Prior to the establishment of the Singapore Sports Hub, Farrer Park Field was the unofficial sports hub. It was surrounded by other groups of sports facilities like a swimming complex, a boxing hall, a tennis center and an athletics stadium. Therefore, it has served as a training ground for many national athletes past and present.
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#2 Development of unique thematic concepts
Source: HDB – Farrer Park Site Concept Plan
The future Farrer Park BTO domain will be designed with a thematic (sports) concept, which is unusual for HDB domains. Therefore, this project may appeal to sports-loving homebuyers.
Approximately 20% of the site will be reserved for open spaces for sporting and recreational purposes. The current boxing gymnasium will be retained and transformed into a multipurpose community sports space. Unfortunately, the current swimming pool will not be kept. In its place, a new sports center will be built which will house the swimming pools and other sports facilities.
Residents can also look forward to the third generation playgrounds and fitness corners, as well as a jogging track that will criss-cross the entire new development. These sports facilities will be open to everyone to keep fit and stay active.
In addition to these sports facilities, residents will also have access to neighborhood businesses and a daycare center within the development to meet their daily needs.
Read also : 5 Things to Know About HDB’s Residential Development on the Keppel Club Site in the Deep South Waterfront
#3 Access to amenities and connectivity
One of the main assets of the new housing project is its location and its connectivity with other major employment and leisure hubs.
The site is close to the MRT stations Little India and Farrer Park, which are part of the North-East Line. In addition to public bus services (Service 131) which take 30 minutes to reach the central business district, the site is also well connected to major highways such as the Central Expressway (CTE) and the Pan-Island Expressway (PIE).
Residents will also have convenient access to many surrounding amenities. From malls like Mustafa Center and City Square Mall, to hawker centers like Tekka Market and Pek Kio Market and Food Center. There is even the Kallang Polyclinic to meet the medical needs of residents. All these are about 1 km from the habitation site.
Also Read: HDB Location Guide: How to Get “Condominium Amenities” at HDB Prices
#4 Surrounding Resale HDB Apartment Prices
Information on the types of HDB apartments that will be made available and launch prices for the new Farrer Park development are currently unknown.
However, as the new Farrer Park site falls within the Kallang/Whampoa precinct, we could use the median prices negotiated in that town as a benchmark. Unlike other residential towns, there are not many HDB apartments being built in Farrer Park. Nevertheless, we have chosen a few nearby HDB domains to assess the potential price range of future BTOs in Farrer Park.
|HDB median resale prices|
|Location||3 – bedroom||4 – bedroom||5 – bedroom|
|671A – 672B Klang Lane||–||502 500||670,000|
|11 – 15 Farrer Park Road||532,888||695 888||793,500|
|49 – 50 Dorset Road||390 444||590,000||655,000|
Source: HDB *Prices are correct as of May 1, 2022.
Based on past traded prices for surrounding HDB blocks (4 and 5 room units) near the Farrer Park site, they are still slightly lower than the median prices recorded for the town of Kallang/Whampoa. This could mean that new BTO project prices may still be in an affordable price range for most starters, as they are usually around 15-20% cheaper than neighboring resale HDB apartments.
However, given the low supply of HDB apartments in the area, the demand for new homes could be quite high, which could affect future prices.
Read also : 3-3-5 HDB Apartment Buying Rule: How Much Can Singaporeans Really Afford?
#5 Retail Developments in Farrer Park
Source: Centrium Square
Although the predominant commercial activity in Little India and Farrer Park occurs in the large cluster of shophouses, other notable commercial developments have taken shape in recent years. These new commercial developments could add to the dynamism and rejuvenation of the region. Some of them include the following:
The former Serangoon Plaza has been redeveloped into the 19-story Centrium Square, a mixed-use complex consisting of 143 offices, 39 medical suites and 49 retail stores. Additionally, the adjacent Fortuna Hotel is set to be sold, and analysts believe the new owners could rebuild the hotel with more (smaller) rooms than the current 106-room hotel. In April 2022, it was reported that the Fragrance Group chief executive bought Verdun House for $55 million.
Additionally, the highly anticipated Piccadilly Grand, a private residential project for 2022 by City Development and MCL Land, will soon be launched near the Farrer Park site. The 405-unit mixed development project could raise the residential profile of the area.
These new developments show that commercial interest in the area remains strong, making it a viable place to work, live and play.
Read also : 6 Things to Know About Shophouses in Singapore and Why They’re So Expensive
#6 May not appeal to everyone
There are at least two downsides to the new housing project that may not appeal to future apartment buyers.
Migrant workers from the Indian subcontinent are a significant demographic group that frequents the enclave of Little India, especially on weekends. Due to the many restaurants and shops that cater to their needs, it is a place to gather and socialize. There have been reports in the past of anti-social behavior from this group of visitors, who would urinate or loiter around the empty HDB decks. Although police patrols have been reinforced in the area to curb these problems, future residents must accept the realities of the place.
Source: HDB – Artist’s impression of community sports facilities
Another reality that future residents must accept is that the sports facilities on the estate are not exclusive to them and are open to the public. Therefore, it can regularly attract a large number of people. This may affect the privacy and exclusivity of the estate, which may not be suitable for residents who value these factors.
However, if potential buyers are able to look past these issues, then development on the Farrer Park site could be an attractive housing option.
Read also : Here’s why it makes sense to take out as much HDB home loan as you can when buying your first apartment
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