With a rising number of residences on both sides of Sukhumvit main road, the diminishing space for developing condominiums will soon become a grave concern for the developers who want to build condominiums on the prime spots. While that should have struck them as intimidating around the bend, it’s clear that the developers already know exactly where their next projects be taken. Other than those fronting the main road and public transit line, they spotted on potential land plots along the side roads, which they believe could be put into great use. Ananda Development took the plunge by developing a condo over a plot of land located deep in the street from the main road. It happened rarely for this developer to stray from its conventional strategy but this time it did save them from overspending in a way to offer no more than a sales price of 1MB/ unit. That condominium is called Unio Charan 3, the name which took after Soi Charan Sanitwong 3 it’s situated on. The condo offers over 1,900 units of 10 total buildings Soi Charan Sanitwong 3, with a sales price of THB 999,900/ unit as to be on the record. Ananda also has a good plan to create the phase II if this one works.
Project Details (September 11th, 2015)
Project Name: Unio Charan 3
Developer: ANAN (Ananda Development)
Address: Soi Charan Sanitwong 3 (500 metre from the main road) and 900 metre rom Thapra MRT station.
Official Website: www.ananda.co.th
Project Area: 17-0-66.62 rais of land
Project Type: There are ten 8-storey buildings with a combined total of 1,936 residential units and 4 shop units. four out of ten are readily for sale including Building A and Building F each coming with 231 units (approx. 33 units per floor) fully furnished at THB 1.29-1.389M a unit, and Building C and D, which are L-shaped and house 133 units each (19 units/fl). For the remaining buildings, they all offer empty units at THB 999,990 each; Building B and E each contain 196 units (28 units/fl), Building G and J hold an equal number of 224 units (32 units/fl), and Building H and I have the same number of 182 units (26 units/fl), as of September 11th, 2015.
Selling Rate: 80% of Building A, B, C and D combined.
Car Park: 1st floor every building. A combined total of 634 parking lots.
Residential Zone: 2nd-8th floors
Passenger Lifts: 2 each building.
Amenities on site: 1st floor. An outdoor fitness area close to Building D and a 6x20x1.2m pool expanding from Building, G, to H, to I, to J. A shutter bus to Thapra MRT station is also provided.
Construction Completion: By the end of 2016
Sinking Fund: THB 300/sq.m.
Maintenance Fee: THB 35/sqm a month
Average Selling Price: THB 35,700/sq.m.
Terms of Payment:
– Contract: THB 25,000
– Home Inspector Fee (paid to Works Community Management): THB 5,000
– Empty Unit: Purchase Price of Bt 999,900/ unit. Pay off the purchase price through transfer payment of Bt 904,913 and down payments of Bt 94,987 constituted of 13 equal monthly installments of Bt 3,999 and 1 last installment of Bt 8,000.
– Fully Furnished: Purchase Price of 1.2999MB/unit. Booking Fees of Bt 10,000. Contract Payment of Bt 35,000. Down Payments of 13 installments of Bt 5,999 and 14th installment of Bt 7,000. Total Down Payment is Bt129,987. The remaining paid transfer balance is Bt 1,169,913.
Unit Type: 1-bedroom with a space of 28 sqm
Facilities on-site at Unio Charan 3 comprise a 6x20m pool, laundry room, outdoor park, outdoor fitness equipment, kid exercise equipment, and key card integrated security system. There are 4 indoor shops selling commodities and uniquely designed products to the residents.
Unio Charan 3 Master Plan
Building A houses fully furnished units for sale starting at 1.29-1.389MB/unit.
Building B offers empty units w a bathroom but w/o kitchen. Priced at Bt 999,900/unit.
Building C has an L shape made of empty units w a bathroom but w/o kitchen. Priced at Bt 999,900/unit.
Building D is as well L-shaped, full of empty units w a bathroom but w/o kitchen. Priced at Bt 999,900/unit.
Building E has the same shape but also comes with empty units w a bathroom but w/o kitchen same as Building B. Priced at Bt 999,900/unit.
Building F is same as Building A as it offers fully furnished units at 1.29-1.389MB/unit.
Building G is same as Building B and E, offering empty units w 1 bathroom and w/o kitchen. Initially for sale at Bt 999,900.
Building H consists of empty units w/o kitchen and w bathroom at Bt 999,900/unit.
Building I holds empty units w 1 bathroom and w/o kitchen offered at Bt999,900/unit.
Building J houses empty units w/o kitchen and w 1 bathroom. Unit price of Bt 999,990.
Floor Plan
There are 2 types of 1-bedroom layouts, which are A1-1, the fully furnished type, and A1, the empty type. The unit area is 28 sqm in both types.
Usual Layout
Furnishing: Fully furnished for A1-1/A2-1. Bathroom furnished only for A1/A2.
Floor-to-Ceiling Height: 2.6 metres
AC: Available in every fully furnished unit and a few empty units. The remaining empty units have none.
Floors (Bed/Living Room): Laminate Wood
Floors (Kitchen, Bathroom & Balcony): Tiled Floors
The inside look of fully furnished A1 type with 1 bedroom
The living space of this unit consists of 2 parts, which are bed/living zone and bathroom/kitchen/balcony zone.
There are glass partitions separating the living and bed zone. In the living room, a sofa and dining table for 2 people are place at one side of the room to have available space in the middle to walk.
The bedroom is fully furnished with a dressing table, wardrobe, and bed, and has large windows to look through the outside..
Next to the bedroom is the open-space kitchen, sided by a bathroom on the right and outdoor balcony on the left. It comes with a full kitchen set in the fully furnished unit but nothing in the empty unit. The empty unit has only a bathroom furnished with sanitary ware.
The bathroom is equipped with a sink, mirror, toilet seat, toilet paper holder, shower and ventilation system. No shower box is included.
The kitchen set includes a countertop, cabinetry with drawers, sink, hob, and hood. It doesn’t provide any kitchen electronics.
The balcony is tiny but can comfortably room an AC compressor and laundry machine.
There is not much written in the historical data about Charan Sanitwong area in the old days but the remaining traces about its prosperity are the significant establishments including Bank of Thailand (BOT), Office of the Council of State of Thailand, Thammasat University, Silpakorn University, Siriraj Hospital, shopping malls, and the condominiums. In the long past, any residential condominiums could only be found in abundance in the neighborhood area along the road of Borommaratchachonnani. Apparently it was because there was not really much about Charan Sanitwong that could attract the developers or seem worth their investments. Until several decades later, the arrival of the public transit which branched throughout the city brought up the life in the zone of Charan Sanitwong. The public transit of the blue line was long planned but this time it is finally about to begin to extend from Bangsue to Thapra to Hua Lumpong to Bangkae. Upon hearing this news, a number of new condominium developments have taken place along Charan Sanitwong road waiting for the opportunity in advance.
When constructed in full, Thapra MRT station will act as a grand interchange station between Bangsue-Thapra and Hua Lumpong-Bangkae lines, and be located only 400 metre from Charan Sanitwong 3 street, as well as approximately 900 metre from Unio Charan 3 (500 metre from the entrance to the street).
Unio Charan 3 is consideringly convenient for commuting to places via MRT which can be accessed from one of its station in just 1 km of walk from the condo. If any resident wishes to go to Silom square, they can easily get there by taking the transit to arrive at the 7th stop, which is Silom station. If making for Bangsue, Chatuchak park, or Ratchada-Rama IX, take the transit to arrive between 10th-13th station to take exit. The condo unit price of Unio Charan 3 is offered from lowest Bt 999,900, considered quite competitive in comparison to those of the usual units otherwise.
Note: Traveling to Silom by MRT is less complicated than by BTS as any passenger by means of MRT doesn’t need to switch the line at an interchange station but can go straight through their desired destination in 7 straight stops.
To exit or access the condo, riding a motorcycle, taxi or minitruck is recommended as it feels more deserted and quieter as walking deeper down the street.
Getting There
Option 1: If driving north along Ratchadapisek road, continue on the road past across Bangkok Yai river, onto Charan Sanitwong road. Drive straight about 400 metres from Thapra intersection and Soi Charan Sanitwong 3 is on the left. Go down the street about 500 metres to the condo.
Option 2: Drive upward along Borommaratchachonnani road and make a right at Borommaratchachonnani junction onto Charan Sanitwong road. Go a long way down the road until reaching Thapra intersection, do not enter the tunnel but make a U-turn to go to Soi Charan Sanitwong 3.
Option 3: If driving along Phetkasem road, stay on the road until arriving at Thapra intersection, then make a left onto Charan Sanitwong road. Stay on the left lane of the road to turn at Soi Charan Sanitwong 3. Go down the street approximately 500 metres and the condo is located there.
Note: Public bus is also a sound choice of commuting to the condo. Ride the one that travels between Victory Monument, Somdet Phra Pin-klao Bridge, Siam, Sukhumvit, Phetchaburi, Ratchaburi and Nakhon Phatom because it will make one stop at Charan Sanitwong 3 along the way.
In 2019, the extended blue line will be complete to provide convenient accesses to Thapra, Bangsue, Hua Lumpong, and Bangkae. The blue line can be accessed from Thapra station as nearest to Unio Charan 3.
Note 2: The sales gallery can be found along Ratchadapisek road, near Bangkok Yai District Office and Talat Phlu intersection.
Nearby Amenities
– The Mall Thapra, old and rare as it has since long stood. Housing pleasant and glamourous stores, like high-end fashion shops and luxurious restaurants to entertain any shoppers to the fullest. Located on Fung Thon, along Ratchadapisek road close to the intersection with Ratchaphruek road.
–The Sense Pinklao. A community mall that is chicly and contemporarily styled. It’s a centre of more than 30 restaurant with divine and quality food available and has an indoor hypermarket inside. Situated along Boromratchachonnani road, near Central Plaza Pinklao.
–Central Plaza Pinklao is a hub of all aspects of lifestyle, ranging from tutorial schools and private sessions, chic and trendy clothing stores, upscale fast casual restaurants, fine dining restaurants, retailors, and theatres. There are 2 office buildings and 8 theatres in total. Located on Boromratchachonnani, near Major Cineplex Pinklao and Tesco Lotus Pinklao.
–Major Cineplex Pinklao, is a light-entertaining place filled with restaurants, shops, and most importantly, Stand-Alone movie theatre and Major Bowl as the major highlights.
In terms of investment potential, the condominiums abutting the main road can be rented out at the estimated rate of Bt 10,000/unit a month, while those located deeper in streets are priced for rent at THB 7,500/unit a month, more or less.
After analyzing the rate of return of Unio Charan 3, it yields two differing results as follows:
For empty unit, with the original price of Bt 999,900 and presumed costs of purchasing furniture not exceeding Bt 80,000, the total cost of purchasing this unit would not go above 1.0799MB. If the rent price is based on the standard rate, which is possibly BT 7,500, it will yield 8.33% return annually.
For fully furnished unit, the total cost is the original purchase price, which is 1.2MB. If renting out at Bt 7,500 a month, the yield is approximately 7.5% annually.
The estimated values aren’t precise nor consistent as there shall be uncertainties arising in the future, seemingly caused by an increasing number of units for sale by competitors.
Nearby Condos
There is no such condominiums that offer any unit below 1MB other than Unio Charan 3 but there are those with units priced relatively higher as follows:
Ready-to-move-in units have already been put up for sale for the starting price of 1.59MB/unit since 2013 ( Bt 53,000/sq.m. on average) and currently those which are for re-sale are sold at 1.95MB/unit. The physicality of the condo is 8-storey including 3 main buildings with a combined total of 586 units of 1-2 bedroom (30-60sq.m./unit) on 7 rais of land.
Near Thapra intersection, developed by Narai Property on 4-3-5 rais of land. The luxurious 21-storey condominium houses 814 residential units and 1 shop and 52% parking space accommodating 427 cars. It offers two different floor plans that have 1-2 bedroom and vary in size from 26-5 sq.m. and 47-62.5 sq.m. respectively. The starting price is 1.8MB/unit and the expected completion is by November 2016.
The selling point about Unio Charan 3 is that it offers an attractive package deal at competitive price; empty room with water lines and electrical wiring throughout at Bt 999,900 and fully furnished room at 1.2MB, at Building A and F.
The location is also magnificent, considering that the blue line transit will be happening to make it up for the resident’s transportation. There is a possibility that the per-unit price at Unio Charan 3 will go up slightly in these coming years. Even for that it still doesn’t make a sound option for investment as there are many other residential units for sale close by to substitute. Though it makes a perfect home for a single family who just starts out their cohabitation because the unit is only a little over THB 1 million.
There is a full of advantages of empty room as well. The buyer who chooses to make a purchase with this unit takes full charge of how to customize it as desired. If managing the costs for purchasing décor furnishings properly, the bill would not exceed Bt 200,000 at all. So it can be properly said that an empty room is cheaper than a fully furnished. But there is a good point about fully furnished that the empty doesn’t have; the buyer doesn’t have to pay everything in full from the beginning but slowly pay it off through down payment, but also not to break a sweat furnishing the room on their own.
Note: Buyers or investors can buy a unit to rent out as it will generate goo short-term returns, but to invest it as a long-term investment would still require more information, time and outlook.
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