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Reference and photos in:

Update on Aspen Heights & 18 pictures


Photo: Aspen Heights 2 blocks on a hill top (orange-coloured roofs)

Photo: Office-like UE Square & Aspen Heights building


Aspen Heights - pictures of ground floor units with patios



ASPEN HEIGHTS FOR RENT:

4+1 1582 sq. ft $5,100. Blk 261, 2nd floor.

4+1 1582 sq. ft $5,600 fully furnished. Blk 261, 2nd floor.

4+1 1582 sq. ft $6,000. Blk 261, 4th floor.
 
3+1 1324 sq. ft $5,200. Blk 263, 3rd floor. 

2+1 1050 sq. ft $4,000. 

4+1 1582 sq. ft $6,200. Blk 261, 4th floor.  

3+1 1350 sq. ft $5,000. Blk 263, 8th floor. 

4+1 1582 sq. ft $5,500. Blk 263, 12th floor. 

Not possible to list latest units. Email judy@asia
homes.com for updates or tel +65 9668 6468.

606 units
261/ 263 River Valley Road,  Singapore 238307/ 238309

Completed:  1998
Tenure:  999 years.

2-bedroom:
82 - 105 sq. m.
3-bedroom:
122 - 142 sq. m.
4-bedroom:
146 - 149 sq. m.

Advantages:

UE Square is 3-minute walk to a big supermarket but it takes around 8-minute walk for Aspen Heights.

Free shuttle service to City Hall subway outside UE Square Office/Shopping Complex, just opposite UE Square Condo. No such service for Aspen Heights residents who can walk to the Somerset subway in around 15 minutes.

Aspen Heights is newer by around 6 months, being completed in 1998.

Aspen Heights looks residential as it has the tiled sloping roofs. One main complaint is that UE Square apartments look like offices while Aspen Heights look like residential homely apartments.  However the  location is great and both condos are usually over 90% occupied at any one time in 2001.

Tall windows and small balconies (a table and 2 chairs) with wrought-iron railings in most units.  A very small percentage of UE Square apartments have balconies.

Windows are tinted green.
Natural stone is used in the common areas around the lift and pool.

Both condos seem to be breezy but Aspen Height's waterfalls on the  driving uphill to the Eastern Block seems to impress the expatriate.  A large number of children and Caucasian and Japanese families can be seen at around 4.30 p.m at Aspen Heights.

345  units
205 & 207 River Valley Road, Singapore

Completed: 1997
Tenure: 929 years



Location of UE Square & Aspen Heights condos

Studio: 
47-93 sq. m
2-bedroom:
81-115 sq. m
3-bedroom:
120-166 sq. m
4-bedroom:
139 -205 sq. m




UE 4-bedroom 205 sq. ft with balcony floor plan. Only 6 units have balconies. In Feb 2002, one unit was offered $1.4 million but the Seller did not want to sell at this low price.

CLARKE QUAY subway said to be ready in September 2002 and the value of UE Square condos will be enhanced. 

Maisonette:
184 -199 sq. m.

Penthouse:
223, 287 sq. m. 2-level maisonettes with no balcony but huge family area upstairs. Rents from $9,000 - $11,000..

Other features: 

UE Square is within a 15-minute walk by the Singapore River to the financial district (Raffles Place) and 5-minute walk to Clarke Quay where all Caucasians will meet at least one for entertainment and food.

5-minute taxi to Raffles Place. Add 8-15 minutes walk for Aspen Heights to Raffles Place but young people should have no problem.

Around 8-10 minutes to walk to the Dhoby Ghaut Subway for UE Square and slightly longer for Aspen Heights.  Both are not really within walking distance (5-minute walk)  to the subway.

For Aspen Heights, visitors get impressed by the grand entrance which has 2 waterfalls cascading down the fake rock walls.  The uphill winding entry road up the East Block will not fail to give a good impression to visitors.   The West Block has a shorter winding road but no waterfalls.

As at July 27, 2000, selling prices of Aspen Heights units are around $1,000 - $1,100 per sq. ft but the lowest was $700 per sq. ft  2 years ago.

Disadvantages:

Need to pay around S$110 parking fees by Tenant or Landlord for a UE Square car parking.  Free car parking lot in Aspen Heights.

Both Aspen Heights and UE Square have cable connections. UE Square has it only after July 2000 as the developer did not provide for it.  You will have to confirm with the Landlord as regards cabling connections to the various rooms as not all Landlords will cable every room. In Aspen Heights, all rooms are cabled..

In 2002, the rents for a 4-bedroom 1600 sq. ft  Aspen Heights unit is around $6,000.  3-bedroom rents around $4,500. Those ground floor units with patio rent around $5,000. Much depends on views and negotiations.

Characteristics:

UE Square is considered an office-like structure with flat roofs and no balconies of majority of units (left of image). 




Aspen Heights (right with reddish roof tiles) have been built on a hill with apartments on a hill terrace.

2 blocks, each with 8 small point blocks from 5 to 17 stories high rising up the slope of the hill and giving the impression that Aspen Heights predominates other developments.  The point blocks form 3 prongs, emanating from a central core of each of the 2 blocks.  Each point block has its own lift and they are linked by covered walkways.  Entrances to the apartments have a circular corridor so that the atrium in the centre brings up the breezes and natural ventilation.

2/3 of the units enjoy views of the city while the rest has pool views. 20 designs from 915 to 3,230 sq. ft.

It has also been considered a hotel and a massive "city within a city" by European expats who don't like high density living.

Beautiful 
UE Square pictures

Almost full occupancy  for both condos since completion. Email judy@asiahomes.com or tel: +65 9668 6468 for appointments to view.

July 14, 1998

Case study: "Subject to Contract": Closing on the Canadian Giant.

This case study is meant to teach new associates of Asia USA 

"I have my professional reputation to take care of, just like you" said co-broking agent Ms P. She had shown the Asia USA client Mr S a high floor 3-bedroom 1,300 sq. ft with balcony and green tree/canal views in the Tanglin Regency Condo, knowing that his budget was $3,500.

Our associate knew the Landlord would not lease it at $3,500 fully furnished and in any event, he had an "offer" of $3,600. After rejection, she wanted to show another similar one.

By not qualifying the Landlord of the first unit, the co-broker and our associate would be wasting the time of both prospective Tenant and Realtors.

Mr S had little time off to house hunt and definitely would not pay more than $3,500 (company contracted rental). He would lose confidence in Asia USA if our associate showed units he could not afford.

Mr S, being a 6.5-foot tall Canadian had a special requirement:
the shower bar in which the shower head can slide up and down was positioned below his head in almost all units except the bigger 3-bedroom and no Owner would risk damaging the marble wall of the bathroom to relocate the shower bar.

Co-broking agents with Owner base need to close quickly as the many Owners lose confidence with time.

However, they need to qualify the Owner as regards the lowest rental acceptable and how much the Landlord wants when renting fully furnished. Ms P was told that the budget was $3,500 and no more; therefore this would rule out Owners who wanted more.  3-bedroom in Tanglin Regency rents from $3,500 to $5,000 (in July 1998).

"You can use the original Letter of Intent to open the utilities account" hurried Ms P when another unit was confirmed for Mr P.

The "Owner" had accepted the good faith deposit on a Letter of Intent "Subject to Contract" but had not signed the Lease Contract.

• Legal meaning of "Subject to Contract". According to the "Law of Contract" by Cheshire Fifoot & Furmston's, 11^th Edition, pg. 38, the use of the formula "subject to contract" creates a strong presumption that the Landlord and Tenant do not intend an immediately binding contract. This allows the Tenant time to investigate the title and survey the condo.

In the present period of decreasing house rentals, this formula appears unfavourable to the Landlords as the Tenant could refuse to sign the formal contract unless the Landlord would agree to a lower rental.

Recommendations:

In this case, it has been extremely difficult to find a unit for Mr S, due to his shower height requirement and his wish to live only in Tanglin Regency. A 1300- sq. ft unit usually rents more than $4,000 fully furnished and this was the only one available.

The good faith deposit was given to the co-broking agent and she was reminded she would be responsible if it was a scam as she could not produce the proof of ownership in time.

First-time Realtors have to use their own judgment. If you follow the SOP (standard operating procedure), you should verify proof of ownership, then release the good faith deposit with the Letter of Intent.

However, the delay may result in you getting no unit for your client as this unit is a bargain and it is one of the few 3 bedrooms with the shower head position slightly above his head.

A Letter of Intent with "subject to contract" is not a contract at all.   The prospective Tenant could recover his good faith deposit while the Landlord could rent his place to anybody who forwarded a formal tenancy agreement.  It is best to get the tenancy agreement signed by both parties before proceeding to open the utilities account.

Reference:

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