LIV @ MB is the latest new launch in District 15. Being a medium-sized development consisting of 1 to 4-bedder type of units, there are layouts to suit everybody’s needs, from the savvy investor to families large and small.
Having the upcoming Katong Park MRT nearby also offers buyers potential for capital appreciation tied in with increased accessibility along the East Coast, towards the City Centre, and North.
In terms of layout efficiency, surprisingly, some units come with the option of not having balconies. This will definitely appeal to those who wish to maximise their internal liveable area and view balconies as a waste of space.
The developers have also made the decision to adopt an 80/20 landscaping-to-units ratio — thus residents would get to enjoy a lower level of density coupled with lush greenery within the project development.
Developer: Bukit Sembawang Estates Limited (BSEL)
Architect: Arc Studio Architecture, Urbanism Pte Ltd
District: 15
Address: 114A, 114B, 114C, 114D Arthur Road
Site Area: 13,076.9 sqm / 140,760 sqft
Tenure: 99 years from 23 November 2021
No. Of Units: 298
No. Of Storeys: 1 block of 20-storeys, 3 blocks of 19-storeys
Estimated TOP date: 4th Quarter of 2024
MOAT Analysis
In general, LIV @ MB is surrounded by Freehold projects, with most of them being boutique — which have either a low amount of units for sale, or none at all. The biggest project within the vicinity would be The Seafront on Meyer, a medium-sized project with 327 residential units. The project TOP-ed in 2010 and the most recent transactions there are between the prices of $1,9xx to $2,0xx PSF.
In terms of resale projects, The Line @ Tanjong Rhu and Fulcrum takes the cake with their highest average transacted prices.
Both projects TOP-ed in the year 2016, being the latest batch of projects to have been constructed within the area. Units at The Line @ Tanjong Rhu are going for between $2,0xx to $2,2xx PSF, with some units even transacting at the highs of $2,4xx PSF.
Fulcrum has a relatively lower transaction volume in comparison to The Line, hence the lower scoring in Volume Effect. We reckon this attributes to the slightly lower transacted pricing at $1,9xx to $2,1xx PSF. This disparity in pricing allows Fulcrum to score higher as a project than The Line @ Tanjong Rhu in terms of District Disparity Effect, Quantum Effect, and Region Disparity Effect.
As we note, both projects score “1” in terms of Parents’ Attraction Effect due to the lack of primary schools within the vicinity. This applies to LIV @ MB as well, and potential buyers who are parents with young children ought to take note.
Let’s compare apples-to-apples and bring in the new launches within the area — Meyer Mansion (Expected TOP Dec 2024) and One Meyer (Expected TOP Jul 2023).
Meyer Mansion is a medium-sized project with 200 units. New sales there are transacting between PSFs of $2,5xx to $3,0xx. One Meyer, on the other hand, is a small-sized development with only 66 units. Being closely positioned to the future MRT Katong Park, it is expected to command a premium in pricing. However, the new sales there are transacting slightly lower than Meyer Mansion at $2,4xx to $2,7xx PSF.
Location Analysis
Being situated close to the planned Katong Park MRT station allows residents to enjoy the convenience of the new Thomson East Coast Line — 5 stops to Marina Bay, and 11 stops to Orchard. For those who commute via car, East Coast Parkway (ECP) expressway is accessible within less than 5 minutes of driving — bringing you to places like Changi Airport and the CBD area in just 15 minutes.
Weekend getaways to the beach with your family would also be trouble-free, considering East Coast Park is just a 5-minute drive down South or a 15-minute walk.
Site Plan Analysis
As for the facilities, there is a playground for the young ones, a fitness yard, and a garden towards the South of the development, but apart from that, most facilities for the project are flushed towards the centre of the development.
There are three pools, and a water gym — a cool facility we notice new launches are starting to adopt.
Full condominium facilities like villas for booking, a function hall, 24/7 security and gymnasiums are also provided for.
There are only two pedestrian gates within the development, one towards Mountbatten Road towards the North of the development, and the other being at the main entrance of the project.
The editor’s pick for the tower would be South East Tower, or Block 114C. Reason being, this is expected to be one of the quietest towers within the development, being positioned away from the main roads, and having a decent setback from neighbouring projects.
Distribution Table Graphic
Floor Plan Analysis — 1 Bedder
Target Demographics: Investors, Singles
Size Range: 495 sqft ~ 687 sqft
No. Of Units: 39
Stack Location: 10, 11
Best Stack and Type: Stack 11, Type A1
Floor Plan Analysis — 2 Bedder
Target Demographics: Small Families
Size Range: 624 sqft ~ 1,044 sqft
No. Of Units: 113
Stack Location: 05, 06, 07, 08, 09, 12
Best Stack and Type: Stack 12, Type B3
Floor Plan Analysis — 3 Bedder
Target Demographics: Large Families
Size Range: 1,119 sqft ~ 1,453 sqft
No. Of Units: 118
Stack Location: 01, 02, 03, 04, 13, 14, 15, 16
Best Stack and Type: Stack 15, Type C1
Floor Plan Analysis — 4 Bedder
Target Demographics: Large Families, Investors
Size Range: 1,518 sqft ~ 1,668 sqft
No. Of Units: 28
Stack Location: 01, 04, 13, 16
Best Stack and Type: Stack 4, Type D1
Land Sales Graphic
The land, where Katong Park Towers (a 99-year leasehold condominium) used to sit on, was purchased through an en bloc sale for $345 million, 20% above the reserve price. An additional $60 million was spent to upgrade the lease back to its full duration of 99 years.
Resultantly, the high purchase price would equate to a high breakeven price, which translates to high sales prices for the new launch. The new launch observed sales at an average of $2,4xx PSF. This puts the project a pricing tier above its freehold counterparts — Meyer Mansion and One Meyer.
Closing Comments
LIV @ MB presents a unique opportunity to purchase into a premium residential area with an upcoming MRT development. Although there exists the con of it being the only leasehold project surrounded by a myriad of freehold projects, the pricing does not reflect as such — implying that demand in this area is strong enough to close the disparity.
As a result, our editor’s pick for the favourite layout would be that of Type B3 in Stack 12. The type B3 offers small families just what they need — two fully functional bedrooms with a utility room for additional storage. This is of course subjected to different needs of different families.
Additionally, the South East Tower would be our pick because of its positioning away from the roads. Furthermore, the small size of the 2-bedders allow for a relatively low quantum entry — this is especially important as the high transacted PSF of the project would mean that the price point of 3-bedders within the project would be comparable to that of 4-bedders in adjacent projects; making future exit opportunities rather limited.
