At Costa Del Sol in District 16, a 947 sq ft unit will be put up for its first auction on July 31, according to the auctioneer at Edmund Tie and Co (ET&Co). This is a mortgagee sale, with a guide price of $1.36 million ($1,436 psf).
Located on Bayshore Road in the East Coast, Costa Del Sol is a 99-year leasehold development by Japura Development, a subsidiary of Hong Kong tycoon Li Ka-Shing’s Cheung Kong Holdings. Completed in 2003, it has 77 years left on its lease. Costa Del Sol comprises 906 units in 30-storey stacks, and offers a stack of two-bedroom units, with the rest of the development being three- and four-bedroom units. Unit sizes range from 947 sq ft for two-bedders, to 2,659 sq ft four-bedroom units.
The two-bedroom unit on the 24th floor up for auction will be sold with vacant possession. The owner purchased it for $1.28 million ($1,351 psf) in May 2011, according to caveats lodged with URA Realis. It was first bought from the developer for $774,700 ($818 psf) in June 2000.
The unit sits on a “rare corner stack” of Costa Del Sol, and being on a high floor, will “offer the next owner an unblocked view of the surrounding Lucky Heights landed estate, and a partial sea view”, says Joy Tan, head of auction and sales at ET&Co. As a single-loading unit, it offers cross-ventilation, which allows wind in “throughout the day”, she adds.
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The unit has a spacious living and dining area (Credit: ET&Co)
Despite being a two-bedroom unit, it has a “wide” living and dining area, and an enclosed kitchen. “Many newer developments only offer a kitchenette for its one- and two-bedroom units,” Tan adds. The master bedroom comes with an en suite bathroom. There is a common room and a common bathroom as well.
Directly opposite Costa Del Sol is the upcoming Bayshore MRT Station on the Thomson-East Coast Line, which is scheduled for completion in 2023. This will offer direct trains to the CBD. Costa Del Sol is a seven-minute drive to Bedok Mall, a 10-minute drive to Changi Business Park, and a 12-minute drive to Changi Airport. East Coast Park can be accessed via a direct underpass outside the development.
The 24th-floor unit comes with a sizeable enclosed kitchen (Credit: ET&Co)
For families with school-going children, Costa Del Sol is a two-minute drive to Temasek Primary School, and a seven-minute drive to Victoria Junior College.
ET&Co’s Tan expects “interest to be good” for the unit, saying that it will appeal to young families, people working at Changi Business Park, as well as investors.
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