Sathon – Popular Again!
The latest entry of luxury hotels, new office developments, retail outlets, restaurants and bars in the Sathorn area are quickly helping in restoring its popularity and reinstating it as a modern and hip neighbourhood, which is in direct contrast to Sathorn’s former image of being just a residential and business district.
Residential Constructions & Expatriate Rentals:
Originally, Sathorn has always been the choice rental destination for Australian and European expatriates with the positioning of international schools and their respective embassies around the area. With ease-of-access to the expressway from Narathiwas and Nanglinchee Roads, international schools located outside the CBD (Central Business District) can also be accessed conveniently.
This will soon change with Sathorn’s increasing popularity as a residential spot. The first of the super luxury condominiums to complete in this area was the Sukhothai Residences way back in 2011, followed by the Saladaeng Residences. Set to be completed by the end of 2015 is a landmark development of Bangkok known as the Ritz Carlton Residences. Other luxury projects have also followed this trend like The Diplomat Sathorn (launched in the 4th quarter of 2013) and the more recent Saladaeng One by developer SC Asset. In the upcoming two to three years, Sathorn is expected to host many of Bangkok’s best iconic developments that are sure to change its residential landscape dramatically.
Sathorn’s strategic positioning as Bangkok’s prime business district has been a main factor in driving rental and residential demand in the area. Tenants who pick Sathorn are more often than not those who work inside the area. There is at present, office space totaling 1.8 million sq.m. in the Silom/Sathorn district with occupancy at an average of 88.5%. A recently completed office like the Sathorn Square is 90% leased, while the AIA Sathorn Tower spread across a 38,500 sq.m. area is an Grade-A office space that was completed in the 1st quarter of 2015 and continues to attract a lot of prospective tenants.
New residential and apartment developments in the area will be well located to benefit from good rental demand from the expatriates working in these establishments. For example, The Willows, which is a 21-storey apartment close to the Chongnonse BTS station situated 300 metres inside 400,000 sq.m. of fully occupied offices. This is the 1st expatriate style apartment that was built in Sathorn in the recent past, together with a unit mix of fully furnished three, two, and one-bedrooms that appeal to a large range of tenants. The building has recently been completed and CBRE, which is the sole leasing agent, has been seeing great interest from the expatriate tenants that work in the area.
Leisure & Retail Amenities:
One of the best attractions in the Sathorn area today are the very many choices of entertainment and entertainment venues that are coming up. The CUBE at Mahanakorn presently hosts Dean & Deluca’s landmark restaurant, The L’Atelier Joel Robuchon & Vogue Lounge. Upon completion, the retail space having an area of around 10,000 sq.m., will host a high-end retail centre, lush terrace & garden spread over many layers with cafes, restaurants and a marketplace. The CUBE is on its way to become Sathorn’s next lifestyle and dining hub.
With Sathorn’s growing popularity, it has now become the key link between the riverside and Central Lumpini. Retail and residential constructions in mid-Sathorn are emerging in riverside areas, while the constructions of the earlier Suan Lum Night Bazaar that is positioned to become a multifaceted construction, which would include a hotel, cultural centre, educational centre, office building, and a retail centre is set to promote construction activities and the popularity of yesteryear Sathorn that has been limited on previous occasions.
Keyword – Sathorn