SINGAPORE (EDGEPROP) - A duplex penthouse at Parc Imperial in District 5 will be on the block at Edmund Tie’s next auction on June 21. The unit is also available for private treaty negotiation. An owner’s sale, the 1,195 sq ft unit has a guide price of $1.78 million, translating to $1,490 psf on the floor area.

According to the property listing, the unit will be sold with an existing tenancy set to expire in December 2024. The lower floor comprises a living and dining area with an adjacent balcony, kitchenette, household shelter, and powder room. The upper floor comprises the en suite master bedroom, an attached open-air balcony, and two separate en suite bedrooms.

Parc Imperial is a freehold condo on Pasir Panjang Road. The 138-unit project was completed in 2010 by local developer Fragrance Group. It is 200m from Haw Par Villa MRT Station on the Circle Line. Major road connectivity in the area is through the West Coast Highway and Pasir Panjang Road.

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At least three new projects have sprung up in the Pasir Panjang area close to Parc Imperial. In April 2018, The Verandah Residences by Oxley Holdings opened to a strong initial sales launch, with buyers snapping up 129 units (76%). The 170-unit project on Pasir Panjang Road was fully sold by June by Oxley Holdings, followed up on The Veranda Residences’ success with its 250-unit Kent Ridge Hill Residences on South Buona Vista Road. On its launch day on Nov 10, 2018, it sold 110 units (44%). The project was 98% sold as of July last year with an average price of $1,950 psf.

The most recent new launch in the area is the 270-unit freehold project Terra Hill. This condo located on Yew Siang Road off Pasir Panjang Road was launched in February this year, and buyers snapped up 102 units (38%) over the initial sales launch weekend, setting an average price of about $2,650 psf.

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Despite the new projects, Parc Imperial commands a reasonable average selling price of about $1,766 psf, based on a compilation of resale caveats over the past 12 months. One unit has been sold so far this year — a 398 sq ft, one-bedroom unit that fetched $735,000 ($1,845 psf) on April 27.

Based on resale caveats lodged in the past five years, the most expensive unit that has changed hands at Parc Imperial is a 1,948 sq ft, three-bedroom duplex penthouse that was sold for $1.95 million ($1,001 psf) in December 2021. This was followed by the sale of a 2,304 sq ft duplex penthouse for $1.78 million ($773 psf) in October 2020.

A tabulation of rental data at Parc Imperial by EdgeProp Singapore shows that the condo commands an average rent of $7.35 psf per month (pm). This is high compared to neighbouring developments such as The Orient at Pasir Panjang Road ($5.38 psf pm), Horizon Residences at Pasir Panjang Hill ($4.63 psf pm), and The Peak @ Balmeg on Balmeg Hill ($4.03 psf pm).

Pasir Panjang enjoys proximity to the established Mapletree Business City at Pasir Panjang Road, Alexandra Technopark at Alexandra Road, the National University of Singapore, and the one-north business district.

Also nearby is The Southern Ridges, a 10km park which connects Mount Faber Park, Telok Blangah Hill Park, HortPark, Kent Ridge Park, Labrador Nature Reserve and Henderson Waves, a pedestrian bridge crossing at Henderson Road. The area will also be at the doorstep of the upcoming Greater Southern Waterfront, which stretches across 30km of the southern coastline from Gardens by the Bay East to Pasir Panjang and will include public and private housing.

Check out the latest listings near Parc Imperial, The Verandah Residences, Kent Ridge Hill Residences, Terra Hill, The Orient, Horizon Residences, The Peak @ Balmeg, Mapletree Business City, Alexandra Technopark, Pasir Panjang, Haw Par Villa MRT Station

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