With the opening of Claydence on Still Road, Hong How re-enters the Singapore housing market - Marina View Residences Condo at Marina View By IOI Properties (Hot Launch 2023)

Prices in the opulent property 19 Nassim reach $3,800 per square foot for the first time

Property developer Hong How Land is planning to open Claydence its exclusive condominium located at the intersection of Still Road and Koon Seng Road on February 11. The launch will mark “Hong How Group’s return home to residential projects after more than 15 years” according to Teo Teck Weng director at Hong How Land, a joint venture of Hong How Corp (60%) and Marrion Capital (40%). Teo owns the businesses with his older sister Daniel Teo, chairman and director of the Hong How Group; their children are also shareholders in the businesses.

This 28-unit Claydence is situated on a 23,541 square foot freehold plot. It is which is the result of the amalgamation of three adjoining sites which Hong How purchased two years ago. The first site has been the site of the previous 29-room Malacca Hotel on 99 and 97 Still Road, while the other site is the adjoining two-storey apartment block located at 37 Koon Seng Road is used as workplace and also to conduct its administrative tasks. Hong How purchased the two sites together at a price of $21 million as part of an arrangement mediated by CBRE at the end of the tender on March 31, 2021.

Hong How followed up with the purchase of the third site located at the 133 Koon Seng Road for $14.5 million through an agreement with a private treaty four months afterward. The site at 1333 Koon Seng Road is a five-storey apartment building that houses 10 units. Teo learned that the family that owned the property was planning to sell the property. Therefore, it was logical to buy the site to amalgamate since “the Malacca Hotel site was too small” Teo says. Teo.

The old Malacca Hotel has been removed. The five-storey apartment block located at 1333 Koon Seng Road is the next structure to be demolished. As excavation work is taking place on the site the showroom for sales of Claydence will be located in #01-09/10, Wilkie Edge, which is located at 8. Wilkie Road. The completion of Claydence is planned for April 2026.

Mix of one-to four-bedders
Apartments located at Claydence vary from one and three bedroom units. One-bedroom units are 614 sq ft, with two-bedroom units of 786 sq ft and two-bedroom-plus-study units ranging from 872 sq ft to 915 sq ft. Three-bedroom units are 1,076 sq ft, with three-bedroom-plus-study from 1,206 to 1,313 sq ft.

There are four duplex penthouses on the fourth and fifth floors: a two-bedroom penthouse of 980 sq ft, three-bedroom of 1,475 sq ft, a four-bedroom premium of 2,185 sq ft, and four-bedroom-plus-study of 2,164 sq ft.

“We have placed Claydence for a primarily homeowners who are looking for the atmosphere of the nearby Joo Chiat, and proximity to desirable schools as well as East Coast Park,” Teo says. Teo. Schools that are popular in the area comprise CHIJ Katong Primary and Tao Nan School. It’s also just 800m away from Eunos MRT Station, which is only one MRT stop away from to the Paya Lebar Interchange Station for the East-West and Circle Lines.

DS Architects is the appointed architect for Claydence and Wallflower as design consultant. The architects’ initial inspiration for the design of the project was “the New York brownstone” according to Teo. “Theirs modern version that combines the Brownstones iconic colors into the brick façade features.”

The brick-tiled facade will be complemented by the walls and floors that will be finished with European porcelain tile made of white clay. “Claydence,” the term used for it “Claydence” was in the spirit of “clay as the primary material and associated with the home” Teo says. Teo.

Facilities, landscaping, and land
The landscaping at Claydence by the landscape architecture company Coen Design International includes tropical and heritage trees and plants on Still Road and Koon Seng Road to help cushion any noise from traffic. The units will all have aluminum-framed glass panels that lead to balconies. These frames made of aluminum created by Belgian aluminum-maker Reynaers Aluminium “will have wind load resistance and noise-reducing features” According to Teo.

In the basement, there will feature 27 parking spaces that will be used by 28 units. This will reduce any fears residents may feel about not having parking space -it is “a common annoyance for residents of boutique developments with little parking on the first floor” Teo says. Teo.

The communal facilities at the attic include an elevated pool that is shaded by trees, shrubs, a terrace bar with a jacuzzi, an edible garden and an indoor fitness center. The ground floor is home to various themed gardens including Chin Chow Garden, Ulam Garden and Ylang Ylang Garden, along with a multi-purpose space as well as a barbeque area.

‘Joo Chiat’s vibes’
The town is situated at the northern end located at the edge of Still Road, Claydence is located within cycle and walking distance of Joo Chiat Road. “Joo Chiat has become the next Tiong Bahru,” quips Teo. The most well-known restaurants within Joo Chiat. Joo Chiat area include Fei Fei Wantan Mee, Joo Chiat Place Char Kway Teow and Kim Choo Kueh Chang, along with Spanish Restaurant Asadore along with Italian Restaurant Cugini Trattoria Pizzeria.

The sleepy coffeeshops which used to be found in along the Joo Chiat area are now replaced by gourmet bakeries and cafes that are artisanal that range including Tigerlily Patisserie to Tiong Bahru Bakery and Kings Cart Coffee Factory, and Apiary Ice-cream shop The Cheese Shop, wine shop Bound By Wine and Japanese butchery Ginkakuji Onishi.

“In time, the quiet stores in Still Road (towards Eunos) and some on Koon Seng Road might undergo the process of gentrification, taking Joo Chiat’s vibes all the way to close to Claydence,” says Teo.

Commercial developments
Prior to Claydence Hong How’s development in the last decade and a half was predominantly commercial. These include a pair of four-storey shophouses that were conserved at 37 as well as 38 Armenian Street constructed within the Art Deco style between the 1930s and the 1950s. The shops are comprised of F&B and art galleries on the ground level , and offices in the style of Soho in the higher floors.

Another project of Hong How is at 292 Joo Chiat Road, a renovated four-storey commercial building. Hong How purchased the building in the year 2016. In the past, there were shops on the ground floor and a hostel for students on the higher levels. The prior owner was OCBC which operated there from the 1950s.

Hong How restored the building located at 292 Joo Chiat Road and its anchor tenant IWG signed an agreement for a 10-year lease starting April 1st 2020 for the 20,000 square feet co-working space. The builder and architect of 292 Joo Chiat Road are the same as for Claydence and Boon Tian Contractor, which are DS Architects and Boon Tian Contractor.

Hong How also project-managed two office buildings in the 50 and 48 North Canal Road for Maybank Kim Eng Securities. The company also created and maintains B1 industrial buildings to generate rental income.

‘Resort-style’ developments
The final residential project by Hong How is the 51-unit 99-year leasehold boutique condo Lighthouse located in Pasir Ris near the Pasir Ris Park and the beach. It was first launched in 2001. The construction was finished in the year 2004. When the project first went live the price average was $483 per sq ft and was based on caveats that were lodged in conjunction with URA Realis.

In 2022 the average cost of the units that were sold on the marketplace for resales was $900 per square foot. It topped an all-time high of $971 per square foot when a 1,195 sq . ft three-bedroom apartment located on the 2nd floor of the four-storey complex traded hands for $1.19 million in September.

In the meantime, Claydence will have prices that range from $1.582 million ($2,577 per square foot) in the case of the 614 sq ft one-bedroom apartment; up from $5.353 million ($2,450 per square foot) to buy the 2185 sq ft four-bedroom penthouse. The “blended price will be $2,500 per square foot,” says Teo.

Although Claydence is targeted towards small family units, Teo sees the project attracted by couples, singles and investors , too, due to the size of the units. Different sizes of units and types of bedrooms, such as areas for dining at home, will offer an appealing appeal, Teo says.

Teo thinks Claydence is likely to appeal to foreign buyers as well, thanks to its large spaces and resort-style amenities “including the possibility of breakout areas in an enviable greenery”.