DEAL WATCH: Unit at Parkview Eclat going for $8.2 mil
By Tan Chee Yuen
/ The Edge Property |
Parkview Eclat is a freehold condominium on Grange Road in prime District 10. When the project was launched for sale in May 2007, it was positioned as one of the most exclusive condos in Singapore.
The single 18-storey tower at Parkview Eclat contains 35 units. There are only two units on each floor — a 2,896 sq ft, three-bedroom unit and a 3,251 sq ft, four-bedroom unit. The project was developed by Chyau Fwu Group, which also developed Parkview Square office tower on North Bridge Road 16 years ago. Parkview Eclat was completed in 2009.
Residents at Parkview Eclat will now benefit from the Orchard Boulevard MRT station on the Thomson-East Coast Line that is coming up within a short walking distance.
Parkview Eclat is a freehold condominium on Grange Road in prime District 10 that consists of a single 18-storey tower with 35 units
Units at Parkview Eclat are rarely up for sale. However, a 3,251 sq ft unit at the luxury condo was recently listed for sale with a price tag of $8.2 million ($2,522 psf) on TheEdgeProperty.com.
According to Shirley Krans of Huttons Asia, who is marketing the unit, it is currently leased at $18,000 a month. This translates into a gross rental yield of 2.6%, which is relatively attractive in today’s market.
Last year saw four units leased at Parkview Eclat. They were all four-bedroom units of above 3,000 sq ft. They achieved monthly rents ranging from $15,000 to $19,575, according to URA rental data.
The sole transaction last year at Parkview Eclat was for a 3,251 sq ft, four-bedroom unit on the fifth level that was sold for $7.8 million ($2,399 psf), according to a caveat lodged in September 2016. The year before, an identical unit on the sixth level fetched $8.2 million ($2,523 psf).
This article appeared in The Edge Property Pullout, Issue 777 (May 1, 2017) of The Edge Singapore.
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