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JUST SOLD: Unit at Ardmore Park fetched $3.3 mil profit

By Tan Chee Yuen

/ The Edge Property |

September 15, 2016 12:56 PM SGT

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A 2,885 sq ft unit at Ardmore Park was sold for $8.2 million, or $2,843 psf on September 5. The units was bought for $4.89 million, or $1,695 psf in August 1996 and held for about 20 years. This translates into an annualised gain of 3%.

There were a total of five units sold at an average price of $2,852 psf so far this year. At the height of the market, units at Ardmore Park fetched above $3,500 psf. In January 2010, a 2,885 sq ft unit changed hands for $10.6 million, or $3,688 psf, making it the highest price per square foot achieved in the development.

Ardmore Park is a 330-unit condominium project, which sits on a sprawling eight acre freehold land site in in prime District 10. It was developed by Wheelock Properties and completed in 2001.

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