Chao Phraya Estate is a 32 billion Thai baht development comprising a luxurious residential tower and two low rise hotels. It occupies one of the few remaining large plots of available land lining the shores of Bangkok’s legendary River of Kings.
When a 14.2-acre prime real estate site became available on the shores of the Chao Phraya River, which meanders through the heart of Central Bangkok, Country Group Development (CGD) was quick to act.
“We knew we wanted to do a waterfront development,” says Ben Taechaubol (pictured above, right), Chief Executive Officer at Thai-based CGD.
“We wanted it to be at a tourist destination. We wanted to do a branded property. We wanted to create an urban resort with a high level of service.”
Chao Phraya Estate will comprise a 73-storey branded residence and two low-rise hotels when it is completed late next year. An extensive relocation process was needed, which included the relocation of 300 subtenants. It took four years to complete.
When it came to preparing the site, environmental concerns were a priority. A Bodhi tree, for example, was growing in a wall that was one and one-half stories tall. Could it be saved?
“We had to take three chains and move the wall and the tree and relocated it to where the restaurant was going to be,” Ben says.
“We designed this so that we preserved every single large tree – sometimes moving them. We also came across lots of ancient woods such as logs when we were doing the basements.”
Relocation and planning began in 2011. Construction began in 2015. By mid-2017, 60% of the residences had been sold. The entire project should be complete before the end of 2018.
Four Seasons Private Residences Bangkok at Chao Phraya River will house 355 residences. What will make them unique is that each and every one of the residences will be corner units with dual panoramic views of Bangkok and the Chao Phraya River.
Residences will range from 115 square metres for a two-bedroom unit to 1,050 square metres for a penthouse. Because of their unique geometric design, however, they will have twice as much view span as usual for units of their size.
Four Seasons Private Residences Bangkok at Chao Phraya River will be the tallest exclusively residential complex in Thailand. With the exception of food and beverage outlets, there won’t be any retail or commercial elements.
World Class Amenities
Four Seasons Private Residences Bangkok at Chao Phraya River will have a host of special amenities. Included will be …
- River Lounge – a waterfront entrance and private lounge with dining facilities, a living room, and gallery.
- Amenities Deck – located on the third floor, the Amenities Deck will have an infinity swimming pool, a children’s pool, private cabanas, a fitness centre, yoga and Pilates studios, and a multifunction room with kitchen, barbeque area, and entertaining spaces.
- Four Seasons Club – located on the 64th, 65th, and 66th floors, this rooftop club will have a glass enclosed room to store wine, a billiards room, a cigar room, a golf simulator, a private screening room, and the highest infinity swimming pool in Bangkok.
Unique Selling Proposition
Several things make the project unique. The first is its proximity to what is reputedly Thailand’s most prestigious international school.
The Shrewsbury International School, a British international school for students aged three through 18, is located right next door.
The second is that it will be a globally branded residence, which can boost values by roughly 30%.
“This will not be the most expensive residence in Bangkok, but it will be one of the most expensive,” Ben says.
The project also has an exceptionally low plot-use ratio.
“The majority of the land is low-rise and green,” Ben says.
“There are two low-rise hotels and a 73-storey tower. We didn’t maximize the potential, which would have allowed for seven 30-storey towers.”
Seventy-two per cent of residences have two bedrooms. They are selling for roughly US$1 million.
Twenty per cent of residences have three bedrooms. They are selling for roughly US1.8 million.
The remaining 8 per cent have four bedrooms or more. They are selling for US$3 million and up.
From an investment standpoint, investors can expect a rental yield of 6.5%. But capital gains is where investors can expect to come out smelling like a rose.
And foreign investors can rest assured that 100% of their investment can be repatriated, Ben says.
Ben expects that 90% of residences will be owner occupied, and AirBNB activities will not be allowed. Rentals must be for a minimum of six months to discourage short-term tenancies.
Two low-rise hotels will round out the project. Both of them are leading global brands.
- Four Seasons Hotel Bangkok at Chao Phraya River – featuring the largest hotel suites in Bangkok, the Four Seasons Hotel Bangkok at Chao Phraya River will have 312 guest rooms. There will be a lobby lounge, a social club, and three restaurants: Chinese, French, and Italian. Other facilities will include a 1,400-square-metre Grand Ballroom as well as meeting and function spaces with a sky terrace garden.
- Capella Bangkok – the hotel will have 101 suites and a spa. It will have a lobby lounge, a tea room, a European style bar, and a Thai restaurant.The hotel will also have a full service spa. Other facilities will include a riverfront Grand Ballroom, a specialty function room, and a Capella Living Room.
Owners of residences, meanwhile, will have access to the same kinds of service and facilities that guests staying at the best five-star hotels expect.
“As a buyer, you can expect to feel that you are staying at a hotel,” Ben says.
“There will be a lobby, a concierge, a valet … It will be the best in waterfront living coupled with Thai hospitality and the best hotel brands.”