The Esse as Singha Complex Condominium

‎฿15,161,904 - median price (≈‎฿210,600 PSM)

Description

The Esse at Singha Complex – Bangkok Luxury Condominium in Asoke – Phetchaburi – Rama 9

The Esse at Singha Complex is a Bangkok condominium project developed by Singha Estate. It was constructed in 2020. It comprises one building, having 319 luxury apartments on 39 floors.

Apartments range:

  • 1-Bedroom: 34.75 – 47.75 sq.m.
  • 2-Bedroom: 70 – 77 sq.m.
  • Penthouse: 215.5 sq.m.

The Esse at Singha Complex, as the name might suggest is being developed by Singha Estate PLC., a part of Singha Corporation. Singha Corporation is a listed company that got its start making the world-famous Singha Beer. Today the company has expanded into a multitude of industries, the property is one of them. The first residential project was The Esse at Asoke which is currently under construction. Even though Singha Estate PLC is relatively new to the Bangkok residential property market, having the resources of Singha Corporation behind them, buyers need not have any concern about the reliability of this developer.

Mixed-use projects provide the potential for developers to address multiple concerns at once. Firstly, as the cap-ex on projects continues to balloon with the cost of land, having multiple types of product sectors in one project diversifies risk for the developers and investors. Secondly, it addresses the needs of buyers by using the concept of placemaking that allows residents to live, work, and play in one area and within walking distance of each other. The latter is important because it addresses a growing issue of commute time between work and home. With Bangkok traffic growing more congested, many buyers are looking to improve their work-life balance by reducing time spent traveling each day. A mixed-use project with a mix of residential, office, and retail answers this need, which is exactly what The Esse at Singha Complex provides both buy-for-use and investors alike.

Mix-use property
Mix-use property

The mixed-use master plan project is built on 11-1-24 rai (19,296 Sq.M.) of freehold land which comprises two main buildings. One building contains the office and retail portions of the project while the other will contain the residential space. The office features grade-A office space with a gross floor area of 62,000 square meters. The high zone will hold 10,000 square meters of lettable area, while the mid-low zone will contain 40,000 square meters of lettable area. The retail space is located on the low floors of the office building and features a gross floor area of 11,000 square meters with a lettable area of 6,273 square meters.

The project is situated on the corner of Asok Montri Road (north/southbound) and Petchaburi Road (east/westbound) giving residents easy access to all directions of travel from the project. Using Asok Montri Road, drivers can easily commute into the downtown, Sukhumvit area or head out towards the Ratchada area. They can also use the road to connect to Sirat Expressway (also known as the motorway 7 toll road), giving them easy access to the expressway system. Using Petchaburi Road drivers can access another portion of the Sirat expressway that gives them access to the Dao Kanong and Chang Wattana area. Driving in the eastward direction will quickly get them to Thong Lor and Ekamai areas.

The uniqueness of the location is that it sits right between two business and retail districts of downtown CBD and the up-and-coming Ratchada business and entertainment district. Another important thing to note is that this mixed-use property will feature its own underground entrance to the MRT subway system from the office and retail center making traveling more convenient on foot. The location puts travelers one station away from the Sukhumvit MRT station where they can to the BTS sky train to go to other parts of the downtown area and is also only one station away from Rama 9 station where they can walk directly into Central Rama 9 and the Fortune Town electronics superstore. Furthermore, the property is connected to the Sansaab Canal that offers transportation via boat.

The location should cater to the modern urbanite looking for a convergence location where they can live, work, and play—a place where they can spend more time living their lives, than traveling to the next destination.  When it does come time to travel they will have options that reduce travel time significantly due to the project’s location at the corner of an intersection and the MRT subway system.

The complex is also close to major hospitals as well which alleviates concerns about access to healthcare facilities.  Bumrungrad Hospital is only 1.7 KM away while Bangkok Hospital is 2.9 KM from the site.

The Esse at Singha Complex is one of the few buildings in the Asoke/Rachada area that has targeted the luxury end of the market. The look of the residential condominium and office follows the same design language to keep uniformity in the complex. The developer wanted to ensure a sense of privacy in the mixed-use project, so the condo residences are placed further inside the property with green barriers to ensure a sense of peacefulness for residents. While on the topic of green, the designers focused on the importance of a healthful environment that gives residents space to rest both inside and out, and as a result, they put much emphasis on park areas both on the ground floor and sky gardens. For example, the ground floor garden will have a privacy wall to separate the vehicle roundabout from the park, letting residents enjoy the garden while feeling a sense of privacy and safety from vehicles. Furthermore, the building layout was thoughtfully designed so that none of the units face the office building, which will give residents a sense of privacy while in their homes.

Facilities of The Esse at Singha Complex luxury Bangkok condo

As part of the focus on placemaking, designers emphasized creating spaces in the residences as well as the retail portion of the complex where people could rest, relax, exercise, and socialize. That becomes evident when looking at the full-featured facilities they provide to residents. The library, lounge rooms, communal working spaces, and gardens were designed to give residents the flexibility to socialize with other residents or find quiet corners to spend time alone. The condo provides an impressive 5 floors of facilities for residents which fortifies the developers’ goal to design the building with placemaking in mind. The list is as follows:

Ground Floor:

  • Garden with Green Amphitheater & Hidden Pavilion
  • Supercar Parking
  • The Grand Lobby
  • Drivers Waiting Room
  • Full CCTV Security System
  • Keycard Security Access for Lifts and Resident Areas

8th Floor:

  • Sanctuary Terrain Garden

36th Floor:

  • Meeting Room
  • The Residence Lounge
  • The Sky – Social Lounge
  • The Library & Co-Working Space
  • Private Theater Room
  • Private Spa & Salon

37th Floor:

  • On the Cloud Fitness Center with Boxing Ring & Rock Climbing Wall
  • Private Exercise Room
  • Sky Edge – Infinity Swimming Pool, Kids Pool, and Pool Terrace
  • Changing Rooms
  • Fully Equipped Onsen
  • Steam Room

Rooftop:

  • Sky Terrace Garden Area

Another amenity that the developer is working on creating is a full concierge service that will provide a range of hotel-level services to the residents of The Esse. While the feature list is still under consideration the developer is working to create bespoke services such as doormen and porters, 24-hour concierge services, housekeeping, food delivery service, and much more to ensure that residents have all conveniences at their fingertips. (Final list of services pending.)

Location of The Esse at Singha Complex luxury Bangkok condominium

This Bangkok condominium is located in the midst of two CBDs (Central Business Districts) – Asoke and Rama 9. It is surrounded by many kinds of Mass Transit and connected to all four directions of the city.

The Esse at Singha Complex - Condominium in Asoke - Phetchaburi - Rama 9
The Esse at Singha Complex – Condominium in Asoke – Phetchaburi – Rama 9

The Esse at Singha Complex luxury Bangkok condominium is conveniently located in the Asoke-Phetchaburi area between Airport Rail Link and MRT, making it an ideal location for people that travel frequently:

  • Phetchaburi MRT station- 50 m
  • Makkasan Airport Link station – 100 m
  • Asoke pier – 100 m
  • MRT Rama 9 – 1.1 km
  • BTS Asoke – 1.1 km
  • MRT Sukhumvit – 1.1 km
  • The nearest tollway entrance is located just 500 m from the condo.

A lot of office buildings are located in Asoke road around this Bangkok condominium in Asoke

Condos and office buildings in Asoke
Condos and office buildings in Asoke – 3D map

Well-Known International Schools & Universities around The Esse at Singha Complex

Future development projects nearby this luxury Bangkok condominium

  • The Super Tower – the ASEAN’s tallest building and one of the world’s top 10 skyscrapers
  • Makkasan Complex – the mega project from the government, including grand park museum and hall of the exhibition
  • Future mass transit “Orange” line from Sub-urban to CBD (Central Business District)

Lifestyle and shopping nearby The Esse at Singha Complex luxury condominium in Bangkok

Hospitals near The Esse at Singha Complex condominium in Bangkok

Restaurants and entertainment spots around this luxury Bangkok condo in Asoke


New Bangkok condominiums (7 years or less) by RE/MAX CondoDee

* – based on publicly available data and subject to daily change

Project Name Year of Built # Units Floors Median Listing Price Median Listing Price/sqm Median Listing Rental price ROI
rental yield
15 Suite 1996 75 8 ฿9,900,000 ฿59,277 ฿17,200 2.08%
Ashton Asoke 2018 783 50 ฿9,943,017 ฿284,073 ฿32,285 3.90%
Ashton Chula Silom 2018 1,182 56 ฿8,211,001 ฿253,667 ฿29,863 4.36%
Celes Asoke 2020 217 40 ฿14,637,662 ฿273,155 ฿46,291 3.79%
Chewathai Residence Asoke 2017 315 29 ฿5,710,453 ฿179,639 ฿23,444 4.93%
Circle Rein Sukhumvit 12 2018 122 8 ฿6,714,032 ฿188,095 ฿35,300 6.31%
Circle Sukhumvit 11 2019 219 34 ฿11,577,524 ฿185,078 ฿30,182 3.13%
Edge Sukhumvit 23 2017 443 35 ฿8,583,586 ฿230,012 ฿29,982 4.19%
Hyde Sukhumvit 11 2019 478 39 ฿10,023,303 ฿213,390 ฿39,551 4.74%
Hyde Sukhumvit 13 2017 478 39 ฿18,062,342 ฿207,363 ฿51,533 3.42%
Ideo Mobi Asoke 2019 507 37 ฿6,543,028 ฿179,597 ฿24,823 4.55%
Ideo Sukhumvit 93 2018 1,332 38 ฿4,705,223 ฿150,126 ฿20,116 5.13%
IVY Thonglor 2020 447 24 ฿7,848,548 ฿182,976 ฿33,816 5.17%
KHUN by YOO inspired by Starck 2020 148 27 ฿26,010,565 ฿407,951 ฿67,702 3.12%
Kraam Sukhumvit 26 2019 128 29 ฿30,242,801 ฿298,008 ฿103,657 4.11%
Life Asoke 2018 1,642 35 ฿5,538,158 ฿164,872 ฿21,774 4.72%
Life One Wireless 2020 1,344 43 ฿6,521,278 ฿187,169 ฿29,252 5.38%
Lumpini Suite Phetchaburi – Makkasan 2018 636 35 ฿4,237,958 ฿146,579 ฿18,029 5.11%
Marque Sukhumvit 2017 147 50 ฿56,375,309 ฿378,404 ฿176,700 3.76%
Mayfair Place Sukhumvit 50 2018 353 17 ฿4,768,517 ฿128,415 ฿20,134 5.07%
Muniq Sukhumvit 23 2020 201 36 ฿14,403,039 ฿240,895 ฿59,900 4.99%
Noble Above Wireless-Ruamrudee 2020 104 8 ฿10,289,936 ฿157,696 ฿42,781 4.99%
Noble Around 33 2020 268 25 ฿11,484,601 ฿241,612 ฿52,500 5.49%
Noble Be19 2020 586 48 ฿14,562,597 ฿219,056 ฿23,917 1.97%
Noble Be33 2020 277 31 ฿8,840,502 ฿227,072 ฿36,780 4.99%
Noble Form Thonglor 2024 546 46 ฿17,225,000 ฿265,000 ฿60,000 4.18%
Noble Ploenchit 2017 1,444 51 ฿15,748,968 ฿287,921 ฿54,083 4.12%
Noble Recole 2018 288 28 ฿10,008,928 ฿224,653 ฿30,352 3.64%
Park 24 2018 873 51 ฿10,600,025 ฿231,208 ฿37,487 4.24%
Quarter 31 2019 10 3 ฿55,698,806 ฿130,442 ฿248,750 5.36%
Quarter 39 2018 15 3 ฿50,125,000 ฿128,408 ฿287,500 6.88%
Ramada Plaza Residence Sukhumvit 48 2020 339 39 ฿5,763,455 ฿125,342 ฿32,872 6.84%
Rhythm Asoke 2017 386 37 ฿4,721,049 ฿161,690 ฿15,313 3.89%
Rhythm Ekkamai 2018 326 32 ฿8,244,161 ฿221,307 ฿32,198 4.69%
Rhythm Sukhumvit 36-38 2017 496 25 ฿6,366,105 ฿193,315 ฿25,585 4.82%
Siamese Exclusive Queens 2019 332 33 ฿13,484,069 ฿213,826 ฿42,229 3.76%
Siamese Exclusive Sukhumvit 31 2019 193 21 ฿14,180,333 ฿204,199 ฿66,601 5.64%
Supalai Oriental Sukhumvit 39 2020 1,046 35 ฿10,626,220 ฿144,502 ฿27,500 3.11%
Taka Haus Ekkamai 12 2019 269 8 ฿9,907,944 ฿197,149 ฿35,244 4.27%
TELA Thonglor 2018 88 33 ฿41,127,578 ฿341,258 ฿132,332 3.86%
The Bangkok Thonglor 2019 148 31 ฿26,577,342 ฿360,859 ฿96,056 4.34%
The Base Garden Rama 9 2019 639 36 ฿3,805,725 ฿113,920 ฿14,450 4.56%
The Diplomat 39 2019 156 31 ฿27,754,602 ฿333,242 ฿73,426 3.17%
The Esse Asoke 2019 419 55 ฿14,332,312 ฿258,656 ฿48,816 4.09%
The Esse at Singha Complex 2020 319 39 ฿11,840,066 ฿285,823 ฿39,157 3.97%
The Excel Hideaway Sukhumvit 50 2021 772 8 ฿2,453,426 ฿84,540 ฿9,795 4.79%
The Line Asoke Ratchada 2019 473 38 ฿6,149,274 ฿177,907 ฿21,091 4.12%
The Line Sukhumvit 71 2017 291 28 ฿7,226,589 ฿170,959 ฿26,788 4.45%
The Lofts Asoke 2019 211 37 ฿17,469,261 ฿233,454 ฿43,372 2.98%
The Lofts Ekkamai 2017 263 28 ฿9,182,669 ฿203,422 ฿37,370 4.88%
The Monument Thong Lo 2019 127 45 ฿36,202,962 ฿284,257 ฿126,534 4.19%
The Nest Sukhumvit 22 2018 316 8 ฿4,285,193 ฿145,018 ฿19,378 5.43%
The Teak Sukhumvit 39 2018 70 8 ฿5,546,503 ฿140,597 ฿25,139 5.44%
Urbitia Thonglor 2018 130 8 ฿6,771,293 ฿174,635 ฿27,005 4.79%
Venio Sukhumvit 10 2018 162 8 ฿6,037,710 ฿168,482 ฿19,558 3.89%
Vittorio 39 2018 88 28 ฿47,176,015 ฿338,068 ฿152,820 3.89%
Wyndham Garden Residence at Sukhumvit 42 2019 452 31 ฿7,625,290 ฿189,261 ฿37,450 5.89%
Average (all projects by REMAX CondoDee) 2007.3 153.5 25.5 ฿10,508,605 ฿157,700 ฿35,943 4.10%
# projects by REMAX CondoDee 248 Total # apartments 65,710
Total # floors 6,369 Median age (years) 12.7

Market Analysis

* – based on publicly available data and subject to daily change

The average sale price at The Esse at Singha Complex is 180-200% above the current average sale price in Huai Khwang district and 160-180% above the average price in Bangkok.

Rental prices at The Esse at Singha Complex are 130-150% above average in Huai Khwang and 110-130% above average in Bangkok

Key Features of The Esse at Singha Complex luxury Bangkok condominium

Now that we have reviewed the specifics of this project, let us discuss the key strengths. These are the features that, in our opinion, make this project particularly interesting to buyers and investors. In today’s market, there are many projects for buyers to choose from, and sometimes within close proximity of each other, so developers must find a way to differentiate themselves from one another. Here are the key strengths we think The Esse at Singha Complex can offer investors and buyers:

  1. Mixed-Used Advantage: First of its kind in Bangkok. Designed from the start to be a project that includes office, retail, and residential all in one place, maximizing convenience for tenants and residents by converging different aspects of life into a live-work-play model of placemaking.
  1. Location: Very centrally located between the CBD and the new expanding CBD area of Ratchada. The project is situated on a major intersection, allowing the resident to travel conveniently by vehicle with convenient access to the tollway network. The project features a private MRT subway entrance on the property that allows residents to access public transport easily for traveling without a car. Only one subway station away from a major transit intersection where travelers can easily switch the BTS sky train network.
  1. Proximity to Amenities: In addition to having its own retail center for servicing patrons, the project is only one subway station from Terminal 21 to the south and Central Rama 9 and Fortune Town to the north. As a note, the airport rail link is only a few minutes away from the project as well.  Furthermore, hospitals and schools are within a short distance of the project. Close proximity to schools, hospitals, and lifestyle centers, and shopping malls make The Esse an excellent choice for seniors looking for a convenient place to live in the heart of Bangkok and for students alike—which in turn makes this project an excellent option for investors.
  1. Facilities: The leisurely park and garden areas combined with fully equipped health and fitness, and social facilities will make The Esse an excellent option for those looking to have a life in the compound of the project without needing to wander far for food and entertainment. Add the convenience of bespoke concierge services to the mix and residents have the ultimate combination of a convenient luxury lifestyle in a central location in Bangkok.
  1. Complete Value Proposition: The whole package combined makes The Esse at Sigha Complex and an excellent choice for residents looking for luxury and convenience while still enjoying privacy and comfort. For investors, this project represents a solid option as unit sizes are not too big making them affordable to rent with a yield, fully furnished means less hassle when prepping the unit for renting out, and lack of land of this size means that it will not be easy to create another project of this scale, meaning that availability of this type of project in this type of location will be very scarce. That should drive up the value of units in this project over time for both investors and personal use buyers.

 

Credits to CBRE

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