Buyer snaps up four units at Skysuites@Anson
By Tan Chee Yuen
/ EdgeProp |
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When Skysuites@Anson was relaunched on July 22, at least 85 of the remaining 128 units in the high-rise condominium tower found buyers. By contrast, only four units were sold in 1H2017. The 360- unit Skysuites@Anson is therefore 88% sold.
Most of the buyers are Singaporeans and permanent residents who opted for the normal payment scheme, says Tan Tee Khoon, executive director of Knight Frank and head of KF Property Network. This was despite the introduction of a discount structure and deferred payment scheme introduced by the developer when the project was relaunched towards end-July.
While most of the recent buyers purchased just one unit, there was a bulk purchase of four units on the 39th floor of the 71-storey condo tower. The buyer of the units is believed to be a foreigner. According to a caveat lodged on Aug 31, the purchase price for all four units amounted to $6.09 million, which translated into $2,176 psf based on the total strata area of 2,799 sq ft.
Source: Knight Frank
View from the roof terrace of the 71-storey Skysuites@Anson
The buyers are a mix of investors and owner-occupiers who are capitalising on the capital uplift from the recent completion of the Tanjong Pagar Centre integrated development near Skysuites@Anson.
“Tanjong Pagar is part of the redevelopment of almost 1,000ha in the future Greater Southern Waterfront City,” says Tan. This is estimated to be three times the size of Marina Bay. “This presents immense opportunities, [including] a new place to live, work and play, as well as connectivity to green, open spaces connected to a 30km uninterrupted waterfront trail for cycling and walking.”
Properties in Tanjong Pagar are priced to reflect the future growth trajectory, says Tan. “This is what has been fuelling buying interest in SkySuites@Anson over the past two months.” He expects the buying trend to continue.
In early September, a 366 sq ft, one-bedroom unit on the 50th floor on Skysuites@Anson fetched $926,000 ($2,530 psf); and a 1,012 sq ft, three-bedroom unit on the 67th floor was sold for $2.4 million ($2,371 psf), based on caveats lodged with URA Realis.
Developed by Allgreen Properties, the 99-year leasehold SkySuites@Anson was completed in 2015. At least 88% of the units are one- and two-bedroom apartments.
There are 156 typical one-bedroom units measuring 366 to 398 sq ft, and four 505 sq ft, one-bedroom units on the 60th floor. Another 156 are two-bedroom units of 667 to 700 sq ft. Three-bedroom units make up the remaining 44 units on the 61st to 71st floors, and range in size from 958 to 1,140 sq ft.
Some of the units at Skysuites@Anson were sold with tenancy in place when it was relaunched. “Rentability of the units is high, and yields are robust despite the market trend of rental value compression,” says Tan.
This article appeared in The Edge Property Pullout, Issue 797 (Sept 18, 2017) of The Edge Singapore
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