A 624 sq ft unit at the 45-storey Lumiere in Tanjong Pagar is on the market for $990,000 ($1,587psf), according to a listing on TheEdgeProperty.com.
Lumiere is a 168-unit SOHO tower and a redevelopment of the former HMC Centre on Mistri Road. The 99-year leasehold development was developed by niche developer BS Capital and completed in 2010. The property is located just off Shenton Way and across the road from MAS Building and Springleaf Tower, which has an underground link to the Tanjong Pagar MRT station.
There have been very few transactions at the development, with only two units changing hands last year. Both were 678 sq ft units that fetched $950,000 ($1,401 psf) and $951,000 ($1,402 psf) respectively.
URA data shows that there were six rental contracts in December 2016. Monthly rent averaged $3,017, which translates to a potential gross rental yield of 3.7%, based on the asking price.
Recent transaction at Lumiere
Recent rental contracts for 600 to 700 sq ft units at Lumiere