Unit at Ardmore 3 fetches $4,001 psf
By Tan Chee Yuen
/ The Edge Property |
Since May, at least half a dozen units above the 30th floor of Ardmore Three were sold at prices from $4,000 psf. The latest transaction was that of a 1,776 sq ft unit on the 31st floor that fetched $7.11 million ($4,001 psf), according to a caveat lodged on June 15. The highest psf price achieved so far was earlier this month, when a unit on the topmost level (36th floor) was sold for $7.7 million, or $4,335 psf, according to a caveat lodged on June 8.
Ardmore Three previewed in 2013, and was completed in 2014. The project was relaunched for sale on April 16, 2016, according to the developer, Wheelock Properties. More than 85% of the 84-unit, freehold project has been sold so far. All the units at Ardmore Three are three-bedroom apartments of 1,744 to 1,787 sq ft.
The luxury condominium market has certainly picked up, especially for newly completed or soon-to-be-completed developments. At GuocoLand’s landmark integrated development Tanjong Pagar Centre, two units were recently sold at the soon-to-be-completed Wallich Residence. What is unusual about Wallich Residence is that the apartments sit above the 38-storey office tower. The 181-unit luxury condo spans the 39th to 64th level and boasts unobstructed views of the city skyline. The units are a mix of one- to four-bedroom units, with a super-penthouse of more than 21,000 sq ft.
The two units sold at Wallich Residence recently were one-bedroom apartments: One was a 614 sq ft unit on the 41st level that fetched $1.88 million ($3,061 psf) and the other, on the 50th level, was sold for $2.06 million ($3,187 psf). Word on the street is that the buyers are from Hong Kong.
This marks the third transaction at The Wallich Residence this year even before the property has been launched for sale. The unit sold in January this year was a 646 sq ft, one-bedroom unit on the 42nd floor that fetched $1.92 million ($2,970 psf). So far, about 20 units in the 99- year leasehold luxury condo have been sold.
Developed by GuocoLand and standing at 290m tall, Tanjong Pagar Centre is the tallest building in Singapore. Linked directly to the Tanjong Pagar MRT station in the basement, the development comprises a 100,000 sq ft retail and lifestyle mall, Guoco Tower with 890,000 sq ft of Grade-A office space and the 222- room Sofitel Singapore City Centre. There is also a a 150,000 sq ft landscaped urban park.
On Balmoral Road in prime District 10, two units at Goodwood Grand were sold recently. Both units were on the first level of the 12-storey condo block. One was a two-bedroom unit of 893 sq ft that was sold for $2.29 million ($2,556 psf), while the other was a 1,302 sq ft, three-bedroom unit that fetched $3.04 million ($2,333 psf), according to caveats lodged on June 15 and 17 respectively.
Another three units at Goodwood Grand are said to have been sold recently. One was a 1,109 sq ft, three-bedroom unit on the first level that went for $2.66 million ($2,394 psf). The other two units were 775 sq ft, two-bedroom units: The one on the third level fetched $1.84 million ($2,374 psf) and the one on the fourth floor went for $1.85 million ($2,387 psf). However, the caveats have yet to be lodged for these three units.
The freehold Goodwood Grand is newly completed and comprises 65 condo units and eight strata bungalows. The project is jointly developed by Tong Eng Group (50%), the Ng family of Clarus Corp (20%) and listed construction group Tiong Seng Holdings (30%).
Meanwhile, in District 15, another freehold luxury condo that has seen a spate of activity since its recent completion is the 109-unit, 22-storey Amber Skye on Amber Road. The project is adjacent to the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line.
Prices achieved at the three most recent transactions at Amber Skye ranged from $2.16 million ($1,930 psf) for a 1,119 sq ft, two-bedroom unit on the 16th floor to $2.57 million ($1,925 psf) for a 1,335 sq ft, three-bedroom unit on the 15th floor. The project has seen a spike in transactions since it obtained Temporary Occupation Permit in early April, with more than 26 units sold. Based on caveats lodged, more than 40 units have been snapped up at the development.
This article appeared in The Edge Property Pullout, Issue 786 (July 3, 2017) of The Edge Singapore
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