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BELOW $1 MILLION: Three-bedder in Tanjong Pagar

By Metta Lee

/ The Edge Property |

July 27, 2016 3:18 PM SGT

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An 850 sq ft, three bedroom unit at Spottiswoode Park has been listed on TheEdgeProperty.com at $768,000 or $904 psf.

Spottiswoode Park is a 99 year leasehold apartment in Tanjong Pagar. Originally built by the Port of Singapore Authority for its staff, 107 Spottiswoode Park is one of the four privatised HUDC blocks when the flats were handed over to HDB in 1979.

Schools within a 1km radius include Cantonment Primary School and CHIJ (Kellock).

There were nine rental contracts for 800 to 900 sq ft units at Spottiswoode Park in 2Q2016. Monthly rents averaged $2,900 or $3.41 psf. Based on the listing price of $768,000, the average rent translates into a potential gross rental yield of 4.5%, thus presenting an opportunity for yield-seeking investors.

For more information, call marketing agent Jason Goh at 9848 3250.

Recent transactions at Spottiswoode Park

Contract date	Area (sq ft)	Price ($)	Price ($ psf)
February 12, 2016	1,313	800,000	609
December 8, 2015	850	743,000	874
October 20, 2015	1,270	800,000	630
September 3, 2015	1,270	938,000	738
January 23, 2015	850	720,000	847

Source: URA, The Edge Property

Recent rental contracts for 800 to 900 sq ft units at Spottiswoode Park

Lease date	Monthly rent
	($)	()
May 2016	2,900	3.40
May 2016	2,800	3.30
May 2016	3,000	3.50
April 2016	2,900	3.40
April 2016	3,300	3.90
April 2016	2,700	3.20
April 2016	2,900	3.40
April 2016	2,600	3.10
April 2016	3,000	3.50

Source: URA, The Edge Property

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