A three-bedroom unit at Lucida has been placed on the market for $2 million ($1,511 psf), according to a listing on TheEdgeProperty. com. Lucida is a 62-unit freehold apartment block located on Suffolk Road, off Thomson Road. The project was developed by Novelty Group and completed in 2011.

The 1,324 sq ft unit at Lucida is currently leased to a Japanese company and the rental contract expires in December 2017, says associate branch director of PropNex Realty, Victor Khoo. The monthly rent for the unit is $4,900, which translates into a gross rental yield of 2.9%, based on the asking price. The unit will be sold with tenant in place, including furnishing. The unit is on a mid-upper level of the 25-storey apartment block and has a view of Marina Bay Sands, says Khoo.

Most buyers on the market today are owner-occupiers. A three-bedroom unit at Lucida will appeal to young families with children of school-going age, as the project is situated close to St Joseph Institution Junior and Anglo-Chinese School. It is also in the vicinity of Novena MRT station and shopping malls such as United Square, Velocity at Novena Square and Square 2.

A 1,324 sq ft, three-bedroom unit at Lucida fetched $2.01 million ($1,518 psf) in February 2012

The most recent transaction of a unit at Lucida was done on Aug 18, when a 1,098 sq ft, two-bedroom unit on the fourth level was sold for $1.45 million ($1,321 psf).

Meanwhile, the last transaction of a 1,324 sq ft, three-bedroom unit at Lucida was in February 2012. Located on the 20th floor, the unit fetched $2.01 million ($1,518 psf).

For more information, call marketing agent Victor Khoo at 9788 6868.

This article appeared in The Edge Property Pullout, Issue 746 (Sep 19, 2016) of The Edge Singapore.