Four-bedder at Ardmore Park reaps $7.07 mil profit
By Nicholas Lam
/ EdgeProp Singapore |
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The sale of a 26th-floor unit at luxury condo Ardmore Park was the most profitable resale transaction recorded in the week of Feb 13 to 20. The seller of the four-bedroom, 2,885 sq ft apartment made a profit of $7.07 million when it was sold for $12.9 million ($4,472 psf) on Feb 16. The unit was purchased for $5.83 million ($2,022 psf) in July 1996, translating to a 121% profit after a holding period of more than 27½ years.
Ardmore Park is a 330-unit freehold condo located in the prestigious Ardmore Park area in prime District 10 (Photo: Samuel Issac Chua / EdgeProp Singapore)
This transaction is the fourth most profitable deal recorded at Ardmore Park and the third highest by psf price so far. The most profitable transaction occurred in April 2020 when the seller of an 8,740 sq ft duplex penthouse unit raked in a profit of $11.65 million. The unit was sold for $27.65 million ($3,163 psf). The seller had held the unit since January 1998, when they purchased it for $16 million ($1,831 psf).
Ardmore Park is a 330-unit freehold condo located in the prestigious Ardmore Park area in prime District 10. Developed by Wharf Estates Singapore, formerly known as Wheelock Properties, the high-end condo was completed in 2001 and has three 30-storey towers. Typical units at the condo are 2,885 sq ft, four-bedroom apartments; and there are also six 8,740 sq ft duplex penthouses. In July 2022, the development set a new price high of $4,881 psf when a four-bedroom apartment changed hands for $14.08 million.
Hillcrest Arcadia saw the second most profitable resale transaction during the week in review with the sale of a 2,325 sq ft, four-bedroom unit that turned in a profit of $1.83 million (159%). The 10th-floor unit was purchased for $1.15 million ($495 psf) in September 1995 and sold on Feb 16 for $2.98 million ($1,282 psf). This translates to an annualised profit of 3.4% over 28½ years. The transaction is the third most profitable resale at Hillcrest Arcadia.
Hillcrest Arcadia is 272-unit development completed in 1980 with a mix of one- to four-bedroom units (Photo: Samuel Issac Chua / EdgeProp Singapore)
The record at Hillcrest Arcadia was set by a 2,530 sq ft, four-bedroom unit that changed hands for $3.1 million ($1,226 psf) in August 2022, netting a profit of $2.19 million for the seller.
Hillcrest Arcadia is a 99-year leasehold development on Arcadia Road in District 11. The 272-unit development was completed in 1980. It has a mix of one- to four-bedroom units of 452 to 2,896 sq ft.
The most unprofitable transaction of the week in review occurred at The Line @ Tanjong Rhu with the sale of a 570 sq ft, two-bedroom unit. The 14-floor unit was sold on Feb 16 for $1.02 million ($1,788 psf); it had been purchased for $1.32 million ($2,314 psf) in 2013. Thus, the seller suffered a loss of $300,000 (22.7%) after more than 10 years, making it the most unprofitable transaction at The Line @ Tanjong Rhu to date.
The record previously belonged to a one-bedroom unit that was sold for $1.02 million ($2,430 psf) in August 2020. That transaction netted a loss of $191,000.
The Line @ Tanjong Rhu is a freehold development located along Tanjong Rhu Road in District 15. It contains 130 residential units within a single 20-storey tower. The estate has a mix of one- to three-bedroom apartments ranging from 420 to 2,960 sq ft, with a single 2,325 sq ft, four-bedroom unit on the top floor. The Line @ Tanjong Rhu was completed in 2016.
The most unprofitable transaction of the week in review occurred at The Line @ Tanjong Rhu with the sale of a 570 sq ft two-bedroom unit (Photo: Google Street View)
Check out the latest listings for Ardmore Park, Hillcrest Arcadia, The Line @ Tanjong Rhu properties
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