SINGAPORE (EDGEPROP) - A two-bedroom unit at V on Shenton, along Shenton Way in District 1, is currently in the pipeline for a bank auction by Edmund Tie at a guide price of $2.1 million ($1,991 psf), pending confirmation from the bank. (See: Sea-facing unit at V on Shenton for sale at $2.3 mil)
The 1,055 sq ft corner unit on the ninth floor of V on Shenton is in the pipeline for a bank auction (Credit: Samuel Isaac Chua/ The Edge Singapore)
Edmund Tie says until further instructions from the Ministry of Trade and Industry and Council for Estate Agencies, its auctions should be proceeding as planned on June 23.
Spanning 1,055 sq ft, the corner unit is on the ninth floor of the development. With a north-east orientation, it is bright and breezy, and enjoys an unblocked view of the sea and greenery, says Joy Tan, head of auction and sales at Edmund Tie.
Potential buyers who are looking for more space can convert the extra study room into a third bedroom, Tan says. She adds that the living room is spacious, providing homeowners sufficient space for their daily living.
The unblocked view from the unit (Credit: Edmund Tie)
The unit was first purchased in February 2015 for $1.98 million ($1,877 psf), according to caveats lodged with URA.
“Being in the heart of the CBD area, the development is well-connected to other parts of the city via public transport and main roads,” says Tan. It is also integrated with the upcoming Shenton Way MRT Station on the Thomson-East Coast Line, and is within walking distance to Tanjong Pagar and Downtown MRT Stations.
The development also boasts “full condo facilities”, such as a sun deck, pool, private lounge, swivel day beds, an outback grill and an outdoor fitness area, says Tan. These are located on “levels 8, 24, 34 and 35, providing residents ample space for leisure activities”, she adds.
Similar-sized units at V on Shenton have been able to fetch rentals of between $4,500 and $5,800 this year, based on past rental transactions lodged with URA.
The pool at V on Shenton (Credit: Edmund Tie)
So far, the property has received “a good level of enquiries”, notes Tan. She believes the unit will attract both investors and younger buyers who are looking to live near their workplaces.
“With work-from-home arrangements becoming the new norm, this would allow buyers or tenants to convert the unit into a Small Office Home Office (Soho) to be nearer to their workplaces, in the comfort of their homes,” she says.
The most recent transaction at V on Shenton was on April 30, when a 1,055 sq ft unit on the 20th floor changed hands for $1.9 million ($1,801 psf). Prior to that, a 689 sq ft unit on the 31st floor transacted at $1.33 million ($1,931 psf) on April 19.
Check out the latest listings near V on Shenton, Shenton Way MRT Station, Tanjong Pagar MRT Station