Kimen Group to give Singapore buyers first dibs on maiden London project

Following the successful launch of Jervois Mansion in October 2021, where 103 out of 105 units were snapped up over one weekend, Arthur Aw, director of niche developer Kimen Group, began hunting for a second development opportunity. Unable to find a suitable site in Singapore, Aw turned to London. He is familiar with the city, having completed his PhD in architecture and urbanism at the prestigious Architectural Association School of Architecture (AA) in London while working full-time at Ascendas-Singbridge. “I was in and out of London for eight years,” he says. While seeking a suitable site, Aw turned to Chris Lee, the London-based co-founder and principal of Serie Architects. Lee is the design architect for the 130-unit, low-rise Jervois Mansion; the 774-unit, high-rise twin towers of One Pearl Bank; Singapore State Courts; and National University of Singapore (NUS) School of Design & Environment 4. Read also: [UPDATE] Semi-detached house at Upper Bukit Timah showcases ‘new urban kampong’ concept Advertisement Advertisement Now a British citizen, the Malaysian-born Lee has roots in Singapore. He studied at Hwa Chong Junior College as an Asean scholar and then at NUS, where he obtained an architecture degree. Lee also attended AA in London under a Building and Construction Authority scholarship and returned to Singapore, where he worked for four years at RSP Architects & Planners. While at RSP 20 years ago, he collaborated with Aw, who was then director of land planning at JTC. They reconnected when Aw was pursuing his PhD at AA, and Lee was teaching there. At that time, Lee also co-authored a book on typological urbanism with his colleague, Professor Sam Jacoby, an architectural researcher and educator. EdgeProp Singapore caught up with Aw and Lee when the latter was in Singapore recently to view the progress of Jervois Mansion. Construction is underway, and the project is expected to obtain its temporary occupation permit sometime in 1H2025.

Maiden site at Woodberry Down

Aw purchased his maiden development site in London two years ago via SEEDoE Group, an affiliate of Kimen Group. The freehold site of about 10,000 sq ft is within the Woodberry Down neighbourhood in the borough of Hackney in Central London Zone 2. A pair of old semi-detached houses sat on the site. “It was a lot of hard work before we bought it,” Aw concedes. “We walked the site, we walked the streets, and I made sure that when I travelled to London, I would stay at a hotel near the site to understand the neighbourhood.” Serie’s Lee is the design architect and has taken “a very small stake” in the development. He says the design of the new project, Cedaroe Mansion, is “a reinterpretation of post-war Art Deco buildings” that will pay homage to the heritage buildings in the vicinity. Advertisement Advertisement The site has been approved for the development of a five-storey block with just nine apartments. The apartments are a mix of one-, two-, and three-bedroom units and a sole penthouse of 1,500 sq ft. They have a ceiling height of nearly 3m. The apartments range from 700 to 1,100 sq ft and include “plus” space, designed with the flexibility to be used as a home office, a nursery, a personal library, a bar or a personal gym, says Aw. Each unit, including the penthouse, has a generous balcony or private terrace. Most apartments in London have entrances leading to narrow hallways, observes Lee. “At Cedaroe Mansion, you enter a light-filled room, so it’s a real transformation from a tiny, dingy hallway.” In typical apartment blocks, units have a single or dual aspect, that is, views on one or two sides, notes Aw. The apartments at Cedaroe Mansion have a “triple aspect” (views on three sides), he adds, while the penthouse has a “quatro aspect” (views on all four sides). Only the sole one-bedroom unit on the first level has a dual aspect.

‘Garden living’

Aw is confident that Cedaroe Mansion will present a “niche and boutique offering” unique to London. “We created a new kind of apartment typology that gives you the feeling of living in a house,” adds Aw. “We are bringing Singapore’s ‘city in nature’ concept to London’s rich culture and heritage.” Part of the “garden living” concept includes a rear landscaped communal garden exclusive to the residents. The lift lobby on each level will open to a view of the garden instead of a sterile corridor with doors leading to the apartments. The project is targeted for completion in 2026. Advertisement Advertisement The site is just across the road from Berkeley Group’s massive regeneration scheme: a 64-acre (25.9ha), 25-year masterplan development in which over 5,500 new homes will replace 1,890 post-war properties. Phase 4 of the scheme, with 511 new homes, was approved in May. In addition to housing, Berkeley Group’s development includes 15 acres of public open space, a large wetland, a recreational reservoir, and a park with multiple sports facilities. There are also retail shops, including a grocer, café and post office. Aw says these public spaces and amenities are open to all residents in the neighbourhood. The nearest tube station is Manor House, just 25m from Cedaroe Mansion. From there, it is a 10-minute ride to King’s Cross, which has become an innovation and tech hub. Construction of Google’s new UK headquarters nicknamed the “landscraper”, is underway, while Meta opened its new London campus at King’s Cross two years ago.

‘Value for money’

Just as Kimen Group is holding onto 25 units at Jervois Mansion as a long-term investment, Aw intends to hold one of the nine units at Cedaroe Mansion for investment. Hence, only eight units will be offered for sale. Singapore buyers will get first dibs, with a VIP preview scheduled for mid-August. Units at Cedaroe Mansion will be priced around GBP1,200 psf (excluding private balconies and terraces). If private balconies and terraces are included, the one-bedroom “plus” will be priced at around GBP822 psf, with the two-bedroom “plus” at around GBP879 psf. The three-bedroom “plus” will fetch GBP736 psf, and the penthouse will be priced at GBP725 psf. After factoring in the private balcony and terraces, Aw reckons the average prices of units at Cedaroe Mansion are likely to be “at a 15% to 20% discount” to the market average for new apartments in the Woodberry Down neighbourhood. Aw expects Cedaroe Mansion's buyers to be a mix of investors and owner-occupiers. “It will be a quality offering that presents value for money,” he says.

Designing and developing: Singapore vs London

In London, Serie, along with Maccreanor Lavington, Sheppard Robson and dRMM, is the architect involved in the GBP6 billion redevelopment of Earl’s Court. Plans are in the pipeline for the development of more than 1,000 new homes; a 4.5-acre park, Table Park; an office building; and a cultural venue. Having designed developments in London and Singapore, Lee has first-hand knowledge in terms of navigating the planning issues in each city. In Singapore, the development parameters are clear, such as the required setback area, cap in plot ratio, gross floor area and building height, Lee says. “Developers are clear about what they can build on the site,” he adds. “The level of investment and the returns are easier to quantify.” The UK, on the other hand, does not have a stringent set of quantitative parameters. “So, it’s more qualitative and deliberative; that means the developer and the architect will have to find ways to maximise what’s available on the site,” Lee explains. “At the same time, they have to ensure that the new proposed development contributes to the neighbourhood and is in keeping with the surroundings.” While extensively used, the term “in keeping with the surroundings” is somewhat nebulous and open to interpretation, notes Lee. “For a developer, the investment required and the maximum returns are therefore more uncertain,” he says. “It requires deep knowledge of the planning system, the architecture and the development. It’s harder for the developer to know how much to pay for the land, and that’s a huge barrier for newcomers to London.” Lee notes that the way planning applications are made and permission is granted in London is also very different. “You have to work with the planner, who will advise on the proposal and whether it’s in line with the policy.” It could take six months to even a year before the planning officer recommends the scheme for planning approval and consent. “For larger schemes, the approval will depend on the votes of counsellors, who come from all walks of life and are usually political activists or those who are active in the community,” he says. “That presents another uncertainty and a barrier for new developers.” Given the high planning risk in the UK, Lee estimates that land costs contribute about 40% of the total development cost for most developers. Construction is also likely to be 40%. A good 20% has to be allocated to consultancy fees. “You need many consultants in the UK,” Lee says. He points to Cedaroe Mansion, where there was a noise consultant, a rubbish bin consultant, a sustainability drainage consultant, a bat surveyor and a reinforced concrete wall surveyor. “So the consultancy fees are higher,” he adds.

‘A series of boutique developments’

Having cleared all those hurdles for Cedaroe Mansion, Aw purchased a second residential development site in London’s Zone 3 last December. Lee will also be collaborating on the second project. “We decided that we want to do a series of boutique developments in London,” says Aw. “So, we want to build our brand and we intend to be in London for the longer term.” He also plans to expand his scope to include the development of commercial projects in the future. For now, it is going to be “pure residential”.