The 5,823 sq ft unit is being sold through private treaty and is marketed by Knight Frank Singapore. The guide price translates to about $3,092 psf on the floor area. (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - A four-bedroom unit at Honolulu Tower is on the market with an $18 million guide price. This translates to about $3,092 psf on the floor area.
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The 5,823 sq ft unit is being sold through private treaty and is marketed by Knight Frank Singapore. According to the listing, the unit is being sold with an existing tenancy that is set to expire in February 2024.
The unit features separate living and dining areas. A store room is connected to the living area, while the dining room leads to the wet kitchen as well as a utility area and a maid’s room.
A family area connects all four en suite bedrooms. Two bedrooms face a balcony, while the master bedroom and one other bedroom lead to a sheltered terrace.
Honolulu Tower is a 16-storey freehold development that was completed in 1985. The development is on Bukit Timah Road in prime District 10. The 30-unit apartment development comprises four-bedroom units of 5,823 sq ft and a pair of 10,312 sq ft penthouses.
The unit on the market is being sold with an existing tenancy
The development is centrally located in the affluent Bukit Timah neighbourhood, and is close to prestigious schools, amenities and transport networks.
For families with school-going children, Honolulu Tower is less than 1km from Singapore Chinese Girls’ School (Primary) and Singapore Chinese Girls’ School (Secondary), as well as Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road). Other top-ranked schools in the vicinity include St Joseph’s Institution and Catholic Junior College.
Honolulu Tower is also close to two MRT stations. Stevens MRT Station on the Downtown Line is about 700m from the condo, while Newton Interchange Station, on the North-South and Downtown Lines, is about 1km from the condo. Besides Bukit Timah Road, the development is connected to Dunearn Road, Newton Road and the Pan-Island Expressway. (Discover insightful data of any Singapore condominium with our condo directory)
Its attractive location in a prime residential neighbourhood makes Honolulu Tower a highly desirable residential development. However, few units from the development appear on the market as owners typically hold on to their properties.
The most recent transaction at Honolulu Tower was the sale of a 5,823 sq ft unit on the seventh floor, which changed hands for $10.8 million ($1,855 psf) on June 17, 2021. This sale also marks the highest absolute price and psf price achieved at the condo so far.
The second highest price achieved at the development was for the sale of another 5,823 sq ft unit, on the 12th floor, which fetched $9.1 million ($1,563 psf) on July 23, 2019. These were the only two resale caveats at Honolulu Tower lodged between 2019 and 2021.
According to caveats, there were no resale transactions at Honolulu Tower between 2013 and 2018.
Last year, five units were leased out at Honolulu Tower. One unit was leased for $23,000 per month (pm), which translates to about $7.67 psf. Another unit was leased for $10,500 pm ($3.50 psf pm), while two units were rented out for $10,000 pm ($3.33 psf pm). The last unit was leased for $8,500 pm ($2.83 psf pm).
Check out the latest listings near Honolulu Tower, Bukit Timah, Singapore Chinese Girls’ School (Primary), Singapore Chinese Girls’ School (Secondary), Anglo-Chinese School (Primary), Anglo-Chinese School (Barker Road), St Joseph’s Institution, Catholic Junior College, Stevens MRT Station, Newton Interchange Station