Jervois Treasures
Near the exclusive Chatsworth Good Class Bungalow (GCB) estate lies the private residential enclave at Jervois Road, and the boutique development of Jervois Treasures that has just attained TOP status in end Jan 2023. Developed by renowned developer Fragrance Group Limited, which has also built residential projects such as Parc Rosewood, Urban Treasures, Urban Vista and Novena Regency, Jervois Treasures is a luxury freehold 36-unit development located in the prime location of District 10, also known as the Core Central Region (CCR).
As this area has a plot ratio of only 1.4, the developments here are low-rise, with various residential projects such as Mon Jervois, Petit Jervois, Jervois Lodge and Jervois Jade having fewer than 110 units per development. Hence, Jervois Treasures is a single block that is just 5-storeys high, and located at the end of a cul de sac, it is a quiet and serene neighbourhood with minimal traffic noise, perfect for those who value their privacy.
Location-wise, Jervois Treasures is also just a brisk 10-minutes’ walk away from the Great World MRT Station on the Thomson-East Coast line, and near to Great World City and the Orchard shopping belt. Its proximity near the hipster lifestyle cafés and restaurants at the vibrant Tiong Bahru area also provides many eclectic food and dining options for those keen to explore new places every week.
Unlike other boutique developments though, Jervois Treasures has enough car park lots for every household. The facilities are also thoughtfully tucked to the back of the development, so the residents can enjoy using them, away from the prying eyes of the public. Design-wise, the block is squarish in shape, and the units have good floor layouts to maximise efficiency. I love it that the 1-bedder plus study, pictured above, can function almost like a 2-bedder as the study is big enough to accommodate a single bed and a study desk, which can’t be said for many developments nowadays.
The 2-bedroom types range in size from 624sqft to 893sqft, with the bigger units having an enclosed kitchen and the largest one with also a yard for laundry needs. At 893 sqft, this is often the size for a smallish 3-bedder instead in other projects, so I think RSP Architects has carefully designed the space with maximum liveability and comfort in mind. The smallest 3-bedder unit here, pictured above, is at a very spacious size of 1130sqft as well.
I also like that the 2- and 3-bedders have enclosed kitchens that have either another door that leads to the yard, or windows, for cross-ventilation. The bathrooms in these bedroom types also have windows for open ventilation and mildew prevention on the ceilings. The floor plan below of a 2-bedder type illustrates my point well. The layout also ensures privacy as guests at the living room can’t have a full view of the bedrooms. There is also some space in the dining area for a work desk as well as possibly a walk-in wardrobe space near the master bedroom. These features certainly tick the boxes for what I would like in my living space!
In terms of price, the average per-square-foot(psf) for new CCR projects is currently at $2880psf, with a narrowing price gap between the regions over the years observed. This is merely a $280psf gap from new Rest of Central Region(RCR) projects, and with projects in the Outside Central Region (OCR) pushing above $2000psf, new launch CCR properties remain as attractive and viable investment options. This is because they are currently undervalued, especially as there was a halt in foreign investors coming into Singapore during the Covid years and with cooling measures such as the increase in the Additional Buyer Stamp Duty (ABSD) increasing from 20% to 30% in Dec 2021.
In this respect, Jervois Treasures is priced to sell, given that it is very competitively priced from $2550psf, far below the average CCR new launch prices. Another significant difference between Jervois Treasures and many other D10 new launch projects is that it has already attained TOP, so buyers (or tenants) can already move into a brand-new unit upon purchase. Investors can also collect rent immediately to offset their mortgage instalments, and buyers needn’t put up with renting and waiting for a unit completion. All in all, Jervois Treasures should attract the discerning buyer who values its attractive price point, freehold status and prestigious address, together with its well-planned floor layouts for upscale living in town.
Photo credits: Damien Lim
