History of former 109 Rangoon Site
A caveat filed at the time indicates that Kefi Development paid $14 million for two adjacent shophouses at 109 and 111 Rangoon Road. Originally the Eng Hin & Co Building, the land was privately held by the family behind the name-brand malleable iron pipe fitting provider.
Low Choon Sin, managing partner of SRI Capital Market, who negotiated the transaction, notes, “built in the 1980s, it was one of the oldest buildings along Rangoon Road before it was demolished.”
Attractions of The Ranz Condo
Key attractions for Koh were the site’s freehold tenure and position inside the Rest of Central Region (RCR), the city edge. The home is about three-minute walk from Farrer Park MRT Station; City Square Mall is five minutes away and provides a range of eating and retail choices.
Within a five-minute walk, the property is also well-served by Connexion, a medical facility linked with Farrer Park Hospital, and One Farrer Hotel. Likewise a short five-minute walk from the property is Centrium Square, a mixed-use development with offices, medical spaces and retail stores.
Originally spanning two freehold commercial lots at 109 and 111 Rangoon Road, the Eng Hin & Co Building had a total land size of 5,298 sq ft. To make room for a new five-story development called The Ranz, which has topped out and is scheduled for completion by mid-2025, the structure has been destroyed.
The Ranz offers a combination of residential and business space. Comprising three strata-titled retail spaces ranging from 893 square feet to 1,206 square feet, the first floor consists.
Satisfication from being a boutique developer
“After spending so many years developing major sites, it is more satisfying to be part of a small project,” notes Koh. “You could think small projects are a lot easier than large ones, but it’s actually the reverse.”
Increasing the amount of facilities like clubhouses, gyms, or swimming pools has little effect on the total gross floor area (GFA) in major complexes. Small-scale initiatives, however, may have a big impact on the GFA even from little floor area increases. “You as a boutique developer have to be even more disciplined,” Koh says.
Between two other structures, ADDP Architects created a simple apartment complex that contrasts with the surrounds. Rich brown wood for the entrance frame is monochromatic, with coal-grey curtain walls accentuating it. “This palette harmonises perfectly with the surrounding neighbourhood,” says principal ADDP Architect Lee Choon Shung. “It also finds harmony between modern elegance and a friendly, inviting atmosphere.”
Although The Ranz may not have a gym or swimming pool, Koh has made investments in cutting-edge technologies such house security systems and Fermax doors. “We intended to keep maintenance expenses low, thus we designed this property with the future owners in mind,” he explains.
Koh has given interior quality fixtures and materials first priority even with its small form. These include Mitsubishi air conditioning systems, Bosch kitchen equipment, Grohe bathroom fittings and Geberit sanitaryware. Though it costs more than ordinary tiles, he decided on a single big porcelain slab for every bathroom wall. “This smooth design minimises grout lines, so facilitating wall maintenance and cleaning,” he says.
Koh also chose large-format floor tiles to improve the interiors’ utility and look. He hired Corten Interior Solutions to design the bedroom wardrobes, countertops, and kitchen cabinets. He notes, for instance, that the MDI (Minerals Design Innovation) surface of the kitchen counters is scratch-proof and strong enough for cutting.
Every apartment opens its living area to a balcony. Ziptrak outside shades will be supplied by the developer to protect the balcony from rain and heat. The balcony allows the owners to extend their dining area or living room.
The Ranz Price Guide.
Approved for food and beverage usage, the retail spaces are sellable either alone or in a portfolio. Every apartment has a mezzanine level and a 5.6-meter ceiling height on frontage. The units are under offer via an expression of interest (EOI) process; closing on December 10.
Starting at $3,380 psf, Low estimates the total price for all three apartments comes to $11.02 million.
Low said the residential apartments are currently up for sales; prices range from $2,099 psf to $2,195 psf after an 8% early-bird discount.
“Although it’s a boutique development,” he says, “the project features a renowned architect, ADDP Architects, and a reputable main contractor, TPS Construction, which had also been the main contractor for the luxury residential development Cuscaden Reserve.”
Transformation at Farrer Park
Low claims that for over ten years, the Rangoon Road neighbourhood has not seen any fresh boutique residential construction. 2008 saw a slew of such developments including the 46-unit freehold Urban Lofts at 89 Rangoon Road, the Citigate Residence at 168 Rangoon Road and the 37-unit freehold Suites 123 .
2010 and 2011 saw more waves of boutique projects like the 24-unit Loft @ Rangoon (opened in 2010 and finished in 2013) and the 48-unit Rangoon 88 (opened in 2011 and finished in 2014).
Recently established new cafés include The Bakehaus at 130 Owen Road, Daizu Café at 129 Rangoon Road, Old Hen Café at 88 Rangoon Road, and Syip at 79 Owen Road. They frequent well-known venues such Jia Bin Klang Bak Kut Teh at 62 Rangoon Road, Legendary Bak Kut Teh at 154 Rangoon Road, and Ng Ah Sio Bak Kut Teh at 208 Rangoon Road; the latter of which has been a regular feature since 1988.
“The inclusion of these new cafes to the already well-known local cuisines has given the neighbourhood more vitality,” Low notes. Rejuvenation on Dorset Road, Farrer Park.
URA revealed plans to revitalise the Farrer Park area in 2022 with the construction of 1,600 HDB Build-To-Order (BTO) homes on a 10-ha plot at Farrer Park Field along with sports amenities. Concurrently, a 120,686 square foot land formerly owned by the Singapore Indian Fine Arts Society at the nearby Dorset Road might be rebuilt into a new residential project providing either 300 HDB flats or roughly 450 private residential units.
Piccadilly Grand, a joint venture between City Developments (CDL) and MCL Land, a wholly-owned subsidiary of Hongkong Land, is another significant development in the Farrer Park area. At an average price of $2,150 psf, 77% of Piccadilly Grand’s 407 residential apartments sold over the first weekend when it opened in May 2022. Every flat in the 99-year leasehold residential complex has been sold by December 2023.
October saw CDL and MCL Land open Piccadilly Galleria, the project’s retail platform, for sale via expression of interest. Drawing on its net lettable area of 20,140 square feet, the indicated price was $75 million, or $3,724 psf. Piccadilly Galleria, which is targeted for completion in the second half of 2025, will include 15 retail spaces with 11 restaurants, four stores, and a 5,382 square foot childcare facility.
Low is hopeful that the Rangoon Road enclave, which is close to both Farrer Park and Dorset Road, would gain from these new buildings and government revitalisation efforts.
Having worked in real estate for thirty years, Koh has developed a philosophical bent. When he considers the recent frenzy of six new project openings with 3,551 units over only ten days from Nov 6 to 16, he notes, “In Singapore, whatever isn’t sold today becomes pent-up demand tomorrow. As a developer, your only responsibility is ensuring that your product is launch-ready when the time comes.