Jervois Mansion

District 10, Freehold, Core Central Region, priced from $2215 psf. It has been a while since we last saw these attributes at such an attractive price point. Why is Jervois Mansion then able to achieve such a competitive edge, when other District 10 new launches, even leasehold ones, struggle to price themselves below $2400 psf?

 Value

Firstly, Jervois Mansion was not bought from the Government under a Land Sales site, nor was it bought from an enbloc or collective sales project. Jervois Mansion was originally called Jervois Mansions – with an s, and is owned by a family office, Kimen Group, whose Executive Director happens to also be the brains behind the whole One-North development. 

While the plot was also being used for their own rental and investment purposes, being also a developer, Kimen Group decided to redevelop this property into 130 luxury residences spread across six low-rise quarters with five storeys amid lush landscaping. Hence, the breakeven point for Jervois Mansion compared to developers who have to cover their land costs in addition to construction and financing costs, is naturally lower.

Location

Just to provide some background on the location, Jervois Mansion is nestled within low density Good Class Bungalows and embassies, yet within close proximity to Orchard Road, River Valley and the Central Business District. In fact, it’s just three bus stops to Wheelock Place and a 12 minute walk to Great World City which will be having an MRT station in 2022 under the Thomson East Coast Line. Well, if that’s too far a walk, the $300 psf savings from existing new launches in District 10 can easily save you $300k if you’re getting a 3-bedder unit, so you can get an entry level Porsche and scoot over to Great World City in style.

For the closest groceries and shops, Valley Point Shopping Centre, with its Fairprice Finest, is just a three-minute walk away. And if you fancy some local delights, you’d be spoilt for choice at the Beo Crescent Market or Havelock Road Cooked Food Centre. 

Sustainability amidst beauty and tranquility

Jervois Mansion focuses on sustainability being the first Super Low Energy Private Residence certified by BCA. Apart from a study of the wind (aka Computational fluid dynamic study), the property is also fitted with Low-emissivity glass which keeps the interiors cool.

Having previously worked on Botanic Gardens, Jervois Mansions’ landscape curation and design mimics elements of the lush canopy greenery and rich biodiversity while its architects draw inspiration from the Black and White colonial bungalows. Residents will enjoy a sustenance programme which includes farm to table cooking, gardening, and foraging walks. The development has also catered a portion of its garden to include edible plants.

Landscape architect Mace Studios has designed gardens with themes such as ‘Next Generation Landscape’ which begins from design in nature and holistic living, and moves on to ‘The Sustenance Web’, which highlights a low carbon footprint, urban foraging and nature based management through edibles and useable products from plants. ‘Immersion in Nature’ incorporates experiencing nature through visual aesthetics and interacting with food by growing, harvesting, and consuming.

Capital appreciation and investment potential

With a variety of one to five bedrooms, we are looking at both investors and own-stay buyers who appreciate the value of the Jervois vicinity, the attractive price point as well as the sizeable land plot it’s on. Even with Jervois Privé, Petit Jervois and Jervois Treasures added together, Jervois Mansion is still 17% bigger at close to 100,000 sqft. 

We can already see that the average prices of the new launches in Jervois such as Petit Jervois is at $2800-2900 psf, and the close to 30-year-old Dormer Park has reached close to the $1900 psf. Hence Jervois Mansion comes in as an opportune time to provide the market with a brand new launch with an undervalued pricing.

The vicinity is no stranger to locals and foreigners, especially those who work in the embassies nearby. If you’re looking to rent out your property in the area, just be careful of the ‘diplomatic clause’, since many of the tenants may likely be diplomats too. (Of course the diplomatic clause doesn’t just apply to diplomats but speak with us to find out more about tenancy agreements :D). 

Just taking a look at some rental prices in the vicinity, two bedder units for older developments are fetching well above $4000, which gives us a healthy yield of over 5%, excluding capital appreciation.

Conclusion

We feel there are many more good points as to why Jervois Mansion is one of the rare few projects with strong attributes at a reasonable price point that is hard to come by in the market now. We would love to share more with you and bring you on an experience you won’t forget!