5 Reasons Why You Should Own the "Buckingham Penthouse" at Le Condé BKK1
By: Hoem Seiha, Partner and RE Advisor at ERA Data Intel
The word "penthouse" conjures images of luxury, exclusivity, and breathtaking views. More than just an apartment, a penthouse represents a pinnacle of urban living, a symbol of success, and a coveted address.
And when thinking of a penthouse, there is currently a scarcity of the supply. Even when out there are 520 condominium buildings across Phnom Penh city, only a handful of them comes with penthouses. That said, there are only appr. 300 units of penthouses as recorded up to date, according to ERA Data Intel, and most of them have already been sold. This number is much fewer than that of the spacious, luxurious detached houses which are recorded about 5,000 units up to date. The figure of detached houses is referred to those developed in the "gated housing communities" or called "boreys" across the outskirts of Phnom Penh.
But anyway, you are still lucky. We have the thing you want! Well, let me recommend it. The Buckingham Penthouse!
You might argue with my recommendation, but here are the top five reasons why you should own and live in the Buckingham Penthouse of Le Condé BKK1.
Reason 1: The Higher Level and 180 Degree Views
On the 42nd and 43th floor, it is approximately 140 to 145 meters high and from there you will enjoy the views of the city and evening Sunset to the West and the views of rivers to Northern side. Since this floor is high, you can view and overlook beyond the city center and no other high-rise buildings will block the views at any sides of your penthouse. That is a great advantage.
At Le Condé BKK1, only the two floors mentioned above come with penthouses: each floor has four different types of penthouses. Thus, all those two floors combined have with only eight penthouses.
If you opt for ordinary units which are located lower levels, the amazing views may be limited due to other buildings' view blockage or too low to see beyond the skyline.
Reason 2: The Size, Quality, and Price - The Best Penthouses in the Neighborhoods
The Size - Beat All in the Neighborhoods
On the 42nd floor of Le Condé BKK1 exist four of the penthouses--each with different sizes and designated names--the Buckingham Penthouse, the Versailles Penthouse, the Louvre Penthouse, and the Elysee Penthouse. So does the 43th floor, coming with the same things.
However, even if all of the penthouses at Le Condé are top-notch in BKK1 area or the neighborhoods, you would go better with the Buckingham Penthouse because it is more spacious than are the other three types. The Buckingham comes with ~600 sq.m. of gross area (460 sq.m. net), which is the largest penthouse at Le Condé and also largest compared to other projects in the surrounding neighborhoods. Average penthouses usually come with 250 sq.m. to 300 sq.m.
With plenty of space, you and your beloved family can live a peaceful and comfort life in an extraordinary residence in the sky with four bedrooms and five bathrooms, a mini bar, a bar, an entertaining room, a jacuzzi, a gym, and a balcony. The ceiling is indeed a 3.8 meter height--just high enough for more air in the room. When you plan to invite your relatives, friends or even business partners to enjoy a gathering party at your home, you will not worry about the space of your home anymore. That is the advantage for being spacious.
The Price for the Quality
Looking at the price of this unit, it is a bit shockingly high if compared to the other projects in the BKK neighborhoods. With an average of $8,800 per sq.m. for the bare unit, it could cost you up to $10,000 per sq.m. for fully furnished unit of a penthouse at Le Condé. And the total price of this Buckingham is $6.7 million if you wish for a fully furnished option. But it will be much lower if you want to have it renovated and decorated on your own preferences.
But the price would settle for the quality. And that quality perhaps could not be substituted by that of other condominium buildings. Let me explain some few factors that support the higher-price for this penthouse.
>> Factor N. 1: The Value of Land Parcel - the BKK1 Area
First, BKK1 is the top tier most expensive area for land price in Phnom Penh. The market value of land in BKK1 area ranges from $6,000 to $6,500 per sq.m.
The piece of land where stands Le Condé is on a "corner lot" where street 352 and street 57 meet. Previously, many different parcels from different owners were bought and consolidated into one plat, making it 3,000 square meters in total. A parcel of that size could be very rare in BKK1 area at the current time. That was the reason Le Condé bought it with $8,000 per sq.m. and totaled $24 million at the first start--due to being a "corner lot"--which is about 30% higher in value compared to the non-corner lot.
>> Factor N. 2: The Quality of Withstanding Wind and Earthquake
Second, Le Condé BKK1 is built based on Japanese mindset which means the building is constructed with the quality to withstand extreme wind of 8 magnitude and mild earthquake of 4.5 magnitude, even though earthquake would have never happened in Cambodia. And that quality adds to the safety from a number of risks and shocks. This safety investment costs a lot to the overall construction budget.
>> Factor N. 3: Fire Safety: The Quality of Withstanding Thermal Temperature in Case of Fire
Third, Le Condé BKK1 is constructed with special materials to withstand thermal temperature beyond what traditional buildings would be prepared for. For example, light weight load-bearing structures that can withstand weight loads and greatly reduce heat from penetrating the walls into the other rooms or units in case of fire were used instead of traditional clay bricks. That thermal protection insulation costs a lot to overall building budget.
Further, Japanese mindset is so detail-oriented. The thinking brought about an open, garden space on 32nd floor reservation for primary recue area--which can bar fire and heat from entering at least a few hours while waiting for the rescue operation to evacuate the entire people from the building.
Reason 3: The Largest Condominium: Amenities and Facilities - All in One Place
A Large Number of Community
Le Condé BKK1 is a large development project with 1,080 units in total and built on a ~3,000-sq.m. parcel of land which is believed to be the largest piece of land in BKK1 area due to very limited land supplies there. The comparatively large piece of land allows Le Condé to stand high and be huge compared to other condominiums in this area.
A Large Common Area, Amenities and Facilities
More importantly, aside from a total gross floor of 89,000 sq.m. being built for residences at Le Condé BKK1, the project is amazingly set aside over 10,000 sq.m. just for amenities and facilities from the basement to the sky rooftop. That amount of space for common amenities and facilities is by far the largest to all other condominiums in this area, and yet not limited to other areas too.
There is a list of common amenities and facilities offered at Le Condé BKK1:
>> Rooftop : Total of 1,900 sq.m. for Infinity swimming pool & sky bar
>> 32F : 1,000 sq.m. for Immersive sky garden, and other half for co-working space
>> 15F : 800 sq.m. for Children play paradise, space left for sharing kitchen, open space
>> 6F : Indoor swimming pool, premium fitness center, yoga room, boxing rooms, table tennis room, 240m running sky jogging track, steam & sauna Jacuzzi
>> 1F-5F : Total of ~9,300 sq.m. for Car parking space
>> GF : BKK Avenue Shopping Mall, Lobby, boutique reading room
>> B1-B2 : Total of ~3,700 sq.m. for Motor parking
The Elevators - Fast, Sufficient and Sizable for the Whole Building
At Le Condé, eight elevators branded KONE, a product of Finland, are equipped, and each side of the building has four elevators, including a serviced elevator. Each elevator can accommodate eight persons, running a speed of 3.5 meters per second, which is quite fast for today modern buildings. That is a good plus. However, the elevator-to-total-unit ratio is 0.007, which means it will probably a bit busy when on rush hour, to be honest.
In sum, if you are going to decide to bring your family to live in a huge penthouse at one of the condominium, the first question that pops up into your mind is the amenities and facilities: "Will the place provide all, or most of, things you and your family and kids need to live a complete comfort and convenient life without 'frequent driving around' for gym, fresh-air garden, or groceries?"
The Developer and the Management
Whatever the scale of the development or the state of luxury for this condominium, it does not matter if the developer and especially the property management company for this project are not trustworthy for you. That is the reason this part is so important for you as well as other owner-occupants and tenants to live and stay with piece of mind.
Le Condé BKK1 is developed by Wang Fu Guo Ji Property Development Co., Ltd., whose owner grown up in Beijing and then later has spent most of his life for business in Tokyo, Japan. That is the reason why Le Condé BKK1 comes with a Japanese style in many ways.
This condominium will be finished by 2025 and handed over to the serviced apartment management company called "HopeTree Japan", which has experienced over 25 years in managing multi-use residential projects and serviced apartments globally.
Reason 4: The Location and The Place - A Combined Quality of Both
The Location - Core City Center Surrounded by Key Businesses and Institutions
Location is the major decision to make when choosing a place to live, especially for an elite family like you, to maximize your very valuable time and convenience for both life and your growing businesses. And that how Le Condé BKK1 wins by positioning on the corner of St. 352 and St. 57, which is a central business hub of BKK1.
Le Condé BKK1 is surrounded by major Boulevards such as Preah Sihanouk Blvd. to the North, Preah Norodom Blvd. to the East, Mao Tse Toung Blvd. to the South, and Preah Monivong Blvd. to the West.
To make it short, Le Condé BKK1 is surrounded by large corporations and businesses, international institutions, banks, and public administrations. More importantly, BKK1 is also known as a "home of embassies" where most of embassies are located.
The Catchment Area
It is noteworthy that from Le Condé BKK1 to many of the notable establishments are just 10 minutes or about 1,000 meters away which make your life easier and more convenient. And that is just a few of examples.
The Place - Le Condé BKK1 as a Symbolic Place
As the name implies, "Le Condé" means a place, while "BKK1" is one of Phnom Penh's communes. Since BKK1 is the key central hub for commercial activities, when combined, "Le Condé BKK1" means the "commune of BKK1" or the "place of BKK1", where residential and commercial space come together, creating a sense of a symbolic place BKK1 area.
Reason 5: The Brand, the Luxury, the Being Top of All--And All about Pride
After all, all the qualities combined create a brand of "being top of all" for the place you are going to choose by its goodwill of brand, the luxury living environment, the height that gives you almost infinity views, the building quality that gives you piece of mind for safety, the largest project devoting biggest space for amenities and facilities, the most prudent location for business, and the highest price for premium quality that well suits to your status.
The Pride of Ownership
Above all, the price of ownership for your owning the Buckingham Penthouse is the ultimate reward not only for your achievement but also for your beloved family who has trusted and followed you from the beginning of your journey till you realized it today. And when your friends ever asked where you currently live, you would proudly tell them in short and brave, "the Buckingham Penthouse at Le Condé BKK1.", the answer that indicates a superiority of your kind.
About Le Condé BKK1: https://www.eracambodia.com/projects/lecondebkk1
Message from Hoem Seiha, the Author
Dear friends, colleagues, and partners, and prospective clients,
If you ever wish to consider the Buckingham Penthouse, please allow me to assist you for further information and arrangement. I'm going to support you in every step--from visit of the project to the final deal--which I strongly believe I can bring a good for you!
Regards,
Hoem Seiha
Experienced real estate expert with 15 years in the services