The 2,196 sq ft unit at Bayshore Park will be put up for auction on Dec 8 (Picture: Knight Frank)
SINGAPORE (EDGEPROP) - A four-bedroom apartment at Bayshore Park, located near Bedok South Avenue 1 in District 16, will be put up for auction on Dec 8 with a guide price of $2.69 million. It is an owner’s sale, says Karen Ker, assistant manager at Knight Frank, which is handling the auction.
Read also: Bayshore Park unit going for $1.2 mil
This is the third time the property will be put up for auction. The unit was first put up for auction by Knight Frank on Oct 20, followed by another attempt on Nov 17.
The property has a total floor area of 2,196 sq ft, which means the guide price works out to $1,225 psf. The 24th-floor unit has unblocked sea views and overlooks East Coast Park.
The apartment has three en suite bedrooms, an additional bedroom, a shared bathroom, a spacious living area and a separate dining area adjacent to the kitchen. Ker says the unit has a large balcony that offers panoramic views and ample light and ventilation.
The balcony of the unit (Picture: Knight Frank)
Bayshore Park has a 99-year lease from 1982, which means it has another 59 years left on its lease. Completed in 1986, the condominium comprises four 32-storey towers and three 10-storey towers. There is a total of 1,093 units at the development, made up of oneto five-bedroom units measuring between 624 sq ft and 3,800 sq ft. Ker says the owners at Bayshore Park have made two collective sales attempts so far, with the last occurring roughly 10 years ago.
Bayshore Park has seen several units change hands this year. Based on caveats lodged with URA, 17 units have been sold since the start of the year. The most recent transactions were on Oct 21, when a 1,173 sq ft unit on the 22nd floor was sold for $1.42 million ($1,210 psf), while a 2,239 sq ft unit on the 27th floor was sold for $2.6 million ($1,161 psf). On June 15, a 936 sq ft unit was sold for $1.26 million or $1,348 psf, marking a new all-time high in terms of psf prices. It was also the first time a sale at the development has crossed the $1,300 psf threshold since January 2013.
Map and overview of Bayshore Park (Source: EdgeProp LandLens)
The new psf price high comes amid a steady increase in transacted prices at the development in the last two years. According to data tabulated by the EdgeProp Singapore research tool, the average price of resale transactions at Bayshore Park has risen to $1,200 psf as of October, a 25% increase compared to the average transacted price of $960 psf logged in 2020.
Knight Frank’s Ker says that Bayshore Park, which sits on a 9.3-hectare site, has many facilities that will appeal to prospective buyers. She adds that it is one of the largest condominium sites in Singapore and includes seven tennis courts, a supermarket, a food court, two gymnasiums and a 1.8km jogging track.
Bayshore Park is in the vicinity of the upcoming Bayshore precinct, where the government intends to introduce 12,500 new homes. About 6,000 will be for public housing, while the remaining 6,500 units will be for private housing. The new precinct of about 645,800 sq ft will have a pedestrianised main street.
Bayshore Park sits on a 9.3-hectare site (Picture: Samuel Isaac Chua/The Edge Singapore)
The development is within a 10- to 15-minute drive of nearby shopping malls, including Bedok Mall on New Changi Road, Changi City Point at Changi Business Park, Parkway Parade at Marine Parade Road and Jewel Changi Airport. The upcoming Bayshore MRT Station on the Thomson-East Coast Line, slated for completion in 2024, is within walking distance.
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