A review of 6 Derbyshire

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6 Derbyshire is a freehold condominium in Novena. It is close to many prestigious schools. It is one of the first condos to implement smart living in homes.
6 Derbyshire is a freehold condominium in Novena. It is close to many prestigious schools. It is one of the first condos to implement smart living in homes.

Introduction

6 Derbyshire is a freehold development located at 6 Derbyshire Road. It is located very close to Novena MRT station. Novena MRT Station is just two stops away from Orchard MRT Station.

6 Derbyshire by Fantasia Holdings

Who is the developer?

6 Derbyshire is developed by Fantasia Holdings. Fantasia Holdings is listed on the Hong Kong Stock Exchange. They are an investment holding company in Hong Kong and property development is one of these segments. They are extremely experienced in property development and are bringing their expertise to Singapore. In fact, they are one of the first developers to introduce the smart home concept to the Singapore property market.

 

Tell me more about the development.

6 Derbyshire is a freehold condominium along Derbyshire Road. It is located opposite United Square and very close to Novena MRT. It is a 168 unit development in a 30-storey residential building. The first 4 levels are the multi storey car parks. The swimming pool is located above the carpark.

Previously, Ultra Mansion stood on this plot of land. In 2013, Fantasia Holdings paid SGD$149.13 million for the 45,512 square feet site through a collective sale. The deal was brokered by Cushman & Wakefield.

 

What is unique about this development? 

The close proximity to United Square and Novena MRT makes this a very good proposition if you are looking for a condominium which is close to amenities and transportation. United Square is a family-themed mall and there are many enrichment centres located in the mall. The mall has a Cold Storage supermarket as well as many eateries. If you want another bigger mall, Novena Square and Velocity are linked via an underpass from United Square. There is a huge NTUC Fair Price supermarket at Novena Square. Velocity is a mall with many shops that sell sporting gear.

There are many good schools in the vicinity. None more so than SJI (St. Joseph’s Institution) Junior. In fact, if you drive home to 6 Derbyshire, you will pass by the entrance of SJI Junior before reaching your home. SJI is one of the top primary schools in Singapore. There are many prominent individuals which went through an SJI education. Our current president, Tony Tan, is one such example.

Another selling point would be the smart home concept. 6 Derbyshire is one of the first condominiums in Singapore to integrate a smart home system into every home. It adds a layer of convenience to the home owners and tenants. You can do things like make bookings for the BBQ pit via the smart phone app. If you have guests arriving, you can pre-register their car plate number and when they reach the condominium, the camera at the guard house will recognise their car plate number and let them in automatically. You can also install smart curtains and use smart appliances in the unit.

6 Derbyshire is extremely close to Novena Medical Centre. Novena is slowly but surely transforming into a medical hub. There is a hotel by the name of Oasia Hotel Novena. It is located right next to the Novena Specialist Centre and Novena Medical Centre. Even Mount Elizabeth has set up a Mount Elizabeth Specialist Centre and Mount Elizabeth Novena Hospital in the area. Medical tourism is a huge industry in Singapore and the Novena area is well poised to take advantage of this.

The point to emphasize is that 6 Derbyshire is a freehold development. In Singapore, this is rather rare as most developments are on 99-year leasehold status. In land-scarce Singapore, owning a prime freehold property in the heart of the island would make sound investment sense.

 

What about accessibility?

6 Derbyshire location map

From 6 Derbyshire, it would take you about 2 minutes to walk to Novena MRT Station. It is extremely close to the train station. The next MRT stop would be Newton MRT Station and the following stop would be Orchard MRT Station. If you drive, it would take you about 5 to 10 minutes to get to Orchard Road. You can also get to the Central Business District (CBD) in about 10 minutes. The charm about living in Novena is that you are situated right at the edge of the CBD and Orchard Road but yet it is much less congested.

Moreover, Novena is also accessible to other parts of the island via the Central Expressway (CTE). Getting to places like Ang Mo Kio or Thomson takes about 10-15 minutes. 6 Derbyshire is also one street away from the Bukit Timah area. If you head further up you will get to Clementi and West Coast. It should take about 15 minutes as well. In general 6 Derbyshire is located in the central part of Singapore and thus getting to and fro will never be an issue.

 

What schools are nearby?

(Distance according to https://elite.com.sg/)

  • SJI Junior (0.197km or 197 meters)
  • Farrer Park Primary (0.665 km)
  • Anglo-Chinese School (Junior) (0.922 km)
  • Balestier Hill Primary School (1.107 km)
  • Anglo-Chinese School (Primary) (1.251 km)
  • St. Margaret’s Primary School(1.340 km)
  • Hong Wen School (1.436 km)

There are also many prestigious pre-schools in the area. United Square Shopping Centre has many enrichment classes for children as well. Novena is often referred to as a place which is very family friendly.

In Singapore, buying a property near a good school is important to many families. The Singapore education system places priority for those living nearby to enter the school in the same vicinity. 6 Derbyshire is surrounded by many prestigious schools.

 

I would like to purchase this property for investment. Will I be able to rent it out? Also, I would like to sell it in a couple of years. Who are my potential buyers?

This property is located right in the heart of Singapore. Novena is an extremely prime area. Your tenant pool should be extremely wide. You will get working professionals and expatriates who work in the CBD. You may also get medical doctors or medical professionals who work in the hospitals and specialists clinics just around the corner. They can literally walk to their clinic, hospital or medical suite. You may also get tenants who are here for long term medical treatment. If you are unable to rent out such a prime property, you can be sure that the rest of Singapore will be facing similar problems as you.

There will be great interest in properties in Novena especially from those in the medical profession. Doctors and medical professionals will be your buyers. So will overseas buyers especially those from Indonesia or China. Locals also like Novena as it has a very family oriented feel to the area. It is extremely convenient which makes it a huge plus. 6 Derbyshire’s smart home concept does differentiate this condominium from its neighbouring developments.

 

What are the payment schemes available?

There is a normal payment scheme and a deferred payment scheme. The development has obtained its T.O.P. ahead of schedule. Currently new owners have started shifting into the development.

The deferred payment scheme is a deferred for 24 months. Thus you do not have to take a bank loan for 24 months. You can choose to resell it during the 24 months if you get a higher price as compared to what you paid initially. This scheme is also ideal for those who need time to sell off their current property but would like to buy first.

 

How is the quality of the finishing?

6 Derbyshire is a high-end development and it shows in the quality of the finishing in the development. The floors are marble and the bedroom is decked with timber floors. The appliances are from Miele. Here are some of the images of an actual unit in 6 Derbyshire.

Living Room
Well equipped kitchen
Quality bathroom fittings
Efficient layout

 

Conclusion

The recent buoyant property market has seen some 99-year leasehold properties in non-core central areas hit $2000 per square feet. (Park Place Residences at Paya Lebar is an example). You may want to consider purchasing a freehold property in a core central area like Novena as prices are very close to each other. If you do decide to do so, 6 Derbyshire is an extremely good proposition. If you are looking for more information about 6 Derbyshire, you can visit the Developer Sales Team website to find updated prices, download the e-brochure or book an appointment to view the showflat.

 

Yours Sincerely,
Daryl Lum

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