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DEAL WATCH: Unit at Draycott Eight for sale at 2010 level

By Tan Chee Yuen

/ The Edge Property |

August 19, 2016 11:00 AM SGT

A 1,432 sq ft unit at Draycott Eight is listed on TheEdgeProperty.com at $2.68 million, or $1,872 psf. The two-bedroom unit on the 15th floor of the 24-storey tower enjoys a pool view.

Developed by Wing Tai Holdings and completed in 2005, the 99-year leasehold Draycott Eight project features three 24-storey towers. Two of the towers contain only four-bedroom “sky villas” with sizes ranging from 2,863 sq ft to 3,218 sq ft. The third tower is made up of two-bedroom apartments sized at 1,173 sq ft, 1,421 sq ft and 1,615 sq ft; and two-bedroom lofts from 1,432 to 1,798 sq ft. Penthouses are sized at 4,015 and 4,187 sq ft.

The last transaction of a two-bedroom loft in the third tower was in August last year when a 1,647 sq ft two-bedroom loft changed hands for $2.93 million ($1,779 psf). However, the last time units of 1,432 sq ft changed hands was more than six years ago when a 21st floor unit was sold for $2.69 million ($1,878 psf) and an 11th floor unit was sold for $3.26 million ($2,277 psf) in November and December 2010 respectively.

The tower with two-bedroom apartments and lofts (left) at Draycott Eight.

Historically, two-bedroom loft units at Draycott Eight sized between 1,400 and 1,500 sq ft were sold at an average price of $2,141 psf, according to agents. However, very few of these units are on the market for sale.

The project was one of the first high-end condos to offer a round-the-clock concierge service. The highlight of the project is its 16,000 sq ft clubhouse, which is a conserved colonial bungalow.

Draycott Eight is also sought after owing to its proximity to The American Club and Tanglin Club, as well as Eton Preschool (Claymore), ISS International School (Elementary and Middle Schools) and Anglo- Chinese School (Primary).

For more information, call marketing agent Kevin Feng at 8200 9297.

Historical transactions of 1,400 to 1,500 sq ft units

Contract date	Address	Floor	Area (sq ft)	Price ($)	Price ($ psf)
6-Dec-10	6 Draycott Park #xx-xx	Mid	1,432	3,260,000	2,277
8-Nov-10	6 Draycott Park #xx-xx	High	1,432	2,688,000	1,878
30-Jul-10	6 Draycott Park #xx-xx	Mid	1,432	2,800,000	1,956
28-Jul-10	6 Draycott Park #xx-xx	High	1,485	2,880,900	1,939

*Low floors: L1 to 7, Mid floors: L8 to 15, High floors: L16 & above

Source: URA, The Edge Property

Recent rental contracts for two-bedroom units at Draycott Eight

Lease date	Area (sq ft)	Monthly rent
		($)	($psf)
May-16	1,000 to 1,100	6,500	6.2
May-16	1,100 to 1,200	6,500	5.7
Apr-16	1,500 to 1,600	6,400	4.1
Apr-16	1,500 to 1,600	6,630	4.3
Apr-16	1,400 to 1,500	7,000	4.8
Apr-16	1,100 to 1,200	6,400	5.6
Apr-16	1,100 to 1,200	7,000	6.1
Apr-16	1,100 to 1,200	6,630	5.8
Mar-16	1,600 to 1,700	7,000	4.2
Mar-16	1,100 to 1,200	7,000	6.1