SINGAPORE (EDGEPROP) - An 883 sq ft, two-bedroom-plus-study unit at Q Bay Residences on Tampines Street 86 was put up for auction on Sept 25. This was a mortgagee sale with a guide price of $955,000 or $1,081 psf, according to Edmund Tie, which is handling the auction.
The fifth-floor unit is a dual- key apartment, which comprises a main apartment with one bedroom, study room and kitchenette, as well as a separate self-contained studio apartment with its own kitchenette, according to Joy Tan, head of auction and sales at Edmund Tie. Both apartments have views of the greenery and the pool, she says.
Completed in 2016, Q Bay Residences, by Far East Organization and Frasers Property Ltd, is a 630-unit condo on a 99-year leasehold. Facilities at the development include a convenience store, club house, swimming and spa pool, tennis court, party pavilions and a playground.
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Q Bay Residences (Photo: Edmund Tie)
The unit was first purchased from the developer in February 2013 for $857,780 ($972 psf), according to caveats lodged with the URA.
Tan believes the unit will attract both owner-occupiers and investors due to its dual-key layout. “It may suit a multi-generation family. The child or parents may want some privacy and thus, they may occupy the studio side,” she says.
“For investors, they may attract two separate tenants, thus collecting two sets of rentals, which may add up to more than that of a typical two-bedroom unit,” she adds.
Tan says with this layout, the buyer “may enjoy two units, while committing to the stamp duty of only one property”.
The condo is 1.9km away from the Tampines West MRT Station on the Downtown Line. Temasek Polytechnic is a walk of roughly 1km from the property. There is also a direct bus to Orchard Road, and drivers are served by the Pan-Island Expressway, Bartley Viaduct connecting to the Kallang-Paya Lebar Expressway, and the Tampines Expressway, says Tan.
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