SINGAPORE (EDGEPROP) - A 1,248 sq ft, three-bedroom unit at Corals at Keppel Bay will be offered for sale at Knight Frank’s property auction on Feb 18. The property will be up for auction with an indicative price from $2.18 million, which translates to about $1,745 psf on the floor area. The unit was first offered for sale last month, but was unable to find a buyer at the time.
The iconic, 366-unit private residential development was designed by world-acclaimed architect Daniel Libeskind. Corals at Keppel Bay was his second project with the developer, Keppel Land. Before that, the architect designed Reflections at Keppel Bay, which was his first residential project in Asia.
Corals at Keppel Bay comprises 11 blocks of five to 10 storeys each. The development offers a mix of one- to four-bedroom units from 570 sq ft to 3,660 sq ft, as well as eight penthouses ranging from 4,930 sq ft to 7,868 sq ft. The 99-year leasehold development was completed in 2016.
Corals at Keppel Bay was designed by world-acclaimed architect Daniel Libeskind. (Picture: Albert Chua/The Edge Singapore)
Besides its prime location in Harbourfront and proximity to Vivocity shopping mall, Corals at Keppel Bay is within the planned Greater Southern Waterfront (GSW) – a 2,000ha urban rejuvenation project stretching from Pasir Panjang to Marina East which will transform the whole area into a new commercial and residential district along Singapore’s southern coast. In addition, the development is connected to surrounding parks, including Mount Faber, Labrador Park, and the Southern Ridges.
According to Gwen Lim, senior manager at Knight Frank, “the Keppel Bay Area is considered a highly desirable district with historic and economic significance. As part of the GSW transformation, residents at Corals at Keppel Bay will be close to the new downtown and a rejuvenated Sentosa Island”.
The owner purchased the to-be-auctioned property for $2.59 million ($2,074 psf) in August 2015. The fifth-floor unit faces the historic King’s Dock, a former colonial era dry dock, and Keppel Bay Tower on the opposite bank. From the living-room balcony, the view also includes Sentosa Island and Keppel Harbour.
The unit to be auctioned faces the historic King’s Dock and the view includes Sentosa Island. (Picture: Samuel Isaac Chua/The Edge Singapore)
“Units facing King’s Dock or the sea are highly desirable in Corals at Keppel Bay, and transactions for such units have been hovering above $2,000 psf recently. All the bedrooms and living areas of this unit face King’s Dock, and the unit faces away from the sun on the west,” says Lim.
She adds: “Families who enjoy waterfront lifestyle living would find this unit attractive in terms of its modern design, close proximity to amenities, and the entry price.”
Since the start of 2019, three-bedroom units at Corals at Keppel Bay have an average selling price of $2,318 psf across six transactions. The highest price for a three-bedder fetched in this period was for a 1,302 sq ft unit on the second floor, which changed hands for $2.77 million ($2,128 psf) last October. The most recent transaction was for a 1,281 sq ft unit on the third floor that fetched $2.66 million ($2,080 psf) on Jan 8.
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