Two units that were sold at the the freehold development Ardmore Park were the two transactions with the highest returns in the span from July 5-12. The two units sold were adjacent 2,885 sq feet four-bedders situated on the 17th level of the same building, according to caveats that were lodged on the 5th of July. The property title search indicates the two units had been bought from members of an Indonesian family.
Blossoms By The Park condo price bid amounting to S$320.1 million, which translates to S$1245.7 per square foot per plot ratio (psf ppr).
A unit purchased for $14.08 million ($4,881 per sq. ft.) that is a record the highest price for resales at the development. The unit was bought for $9.08 million ($3,148 per sq ft) in October 2010 that’s an amount that was $5 millions (55.1%). Based on an annualized basis the seller made the profit rise to 3.8% over the holding for a period of close to 12 years.
The second unit was sold at $11.5 million ($3,986 per sq ft) which earned the seller the sum of $3.5 million, or 43.8%. The unit was bought at a price of $8million ($2,773 per square foot) in May of 2019, that amounts to an annualized profit in the range of 12.4% over the holding period of approximately three years.
The 335-unit Ardmore Park condo is situated in the prestigious Ardmore Park area. It was developed in the name of Wharf Estates Singapore (formerly Wheelock Properties), the 21-year-old freehold high-end condominium has three towers of 30 stories. The most common units in the condo measure 2,885 square feet and four bedroom apartments. However, there are also six duplex penthouses with 874 sq ft each.
Prior to the sale of two units in July 5 on the market, 4 more common units were sold in the same year, on the basis of caveats filed. The units were sold at prices that ranged between $10.5 million ($3,640 per square foot) and up $12.23 million ($4,240 per sq. ft.) and gains ranging from $1.4 million up to $4.2 million.
Goodwood Gardens was the third-highest profit deal of the week following the sale of a 2,185 square foot four-bedroom apartment on the ninth floor was sold at $4.88 million ($2,233 per square foot) on the 5th of July. The property was sold at $2.43 million ($1,112 per square foot) on March 4, 2004. This means that the seller earned an income that was $2.45 millions (101%), or an annualized gain that was 3.9% over almost 18 1/2 years.
Goodwood Gardens is an open-hold development situated in Balmoral Crescent, located off Bukit Timah Road, in District 10. It was built in 2004, and features only 29 units within 12 stories of. It was designed by TID, which is a joint venture of Hong Leong Holdings and Japanese developer Mitsui Fudosan. It offers two- to four-bedders that range at 1,076 square feet and going up to 2,239 sq feet. Two penthouses are available that measure 3,875 sq feet.
The unit that was sold in July was the first unit sold in Goodwood Gardens in over three years. Before that the most recent resales transaction was in February of 2019, in which a 2,239 sq. ft apartment on the 3rd floor auctioned off to a buyer for $3.41 million ($1,523 per square foot). The property is close to the Newton MRT Station on the Downtown Line. It’s also within 10 minutes of driving distance to Orchard Road. Orchard Road shopping belt.
The most profitable transaction of the week was on the floor of One Shenton, after a 1,119 sq ft two-bedroom apartment on the 45th floor sold at $1.89 million ($1,687 per square foot) in accordance with the caveat filed on the 5th of July. The unit was bought on June 5, 2007 and cost $2.25 million ($2,009 per sq ft) which means that the seller took the loss in the amount of 16.1% or about $361,000,which amounts to an annualized cost that is 1.2% over a 15year period of holding.
One Shenton is a 99-year leasehold condo owned by City Developments located at Shenton Way in the CBD. The twin towers, which are 50 stories tall, were completed in the year 2011 and will house 341 units. It offers one-to four-bedroom units and sky villas that have dimensions ranging from 517 sq ft up to 11,765 square feet.
Based on data collected using EdgeProp Research, the EdgeProp Research tool, One Shenton has seen eight more units sold at a price lower than the cost of purchase. These units range from one-bedroom units of 538 sq ft to a three-bedroom-plus-study of 1,572 sq ft, at transacted prices of between $1.09 million ($1,424 psf) and $2.56 million ($2,044 psf). The sellers reported losses ranging between $10,430 and $1 million.