Mortgagee sale of penthouse at Maple Woods for $6.2 mil
By Nicholas Lam
/ EdgeProp Singapore |
The 3,003 sq ft penthouse at Maple Woods along Bukit Timah Road was put up for auction on July 24 (Photo: Knight Frank)
A 3,003 sq ft, five-bedroom penthouse at Maple Woods, a freehold condo on Bukit Timah Road, was put up for auction by Knight Frank on July 24. This eighth-floor simplex has a guide price of $6.2 million, translating to a psf-price of $2,065. As there were no successful bids, the property was withdrawn.
A mortgagee sale, this is the first time that the property was put up for auction. Based on URA caveats, the unit was last purchased from the developer for $2.4 million ($786 psf) in September 1998.
The unit includes a combined living and dining area, a family room, three en suite bedrooms, two additional bedrooms, a balcony, and a separate helper’s quarters.
The unit includes a combined living and dining area, a family room, five bedrooms, and a balcony (Photo: Knight Frank)
Five units have changed hands at Maple Woods this year at an average price of $2,105 psf. The most recent transaction involved a 1,787 sq ft, three-bedroom unit on the fifth floor. It was sold for $3.75 million ($2,099 psf) on July 1. Before that, a 1,496 sq ft, three-bedroom unit on the third floor was sold for $3.2 million ($2,139 psf) on June 24.
Realis records indicate that the unit up for auction is the second-largest unit ever put up for sale at Maple Woods. It is only surpassed in size by a 3,132 sq ft, fourth-floor apartment that combines a three-bedroom and four-bedroom unit. This combined unit was sold in December 1995 for $2.8 million as a sub-sale.
The unit up for auction is the second-largest ever sold at Maple Woods by total size (Credit: Knight Frank)
Tricia Tan, director of auction and sales at Knight Frank, notes that freehold simplexes over 3,000 sq ft are rare outside prime areas like Districts 9 and 10. She adds that the property’s size is ideal for large families, whether for owner-occupiers with multi-generational or growing households or investors aiming to attract expatriates with school-aged children.
Completed in 1997, Maple Woods is a 697-unit freehold development consisting of two- to three-bedroom units from 850 sq ft to 1,539 sq ft, four-bedroom units from 1,776 sq ft to 1,894 sq ft, and penthouses from 2,734 sq ft onwards.
Located along Bukit Timah Road in District 21, Maple Woods is within 1 km of Methodist Girls’ School on Blackmore Drive, and 2 km of Henry Park Primary School on Holland Grove Road and Pei Hwa Presbyterian Primary School on Pei Hwa Avenue.
It is also right at the doorstep of King Albert Park MRT Station on the Downtown Line, which will connect to the Cross-Island Line when phase two of construction is completed by 2032.
Recent transaction at Maple Woods (Source: EdgeProp Singapore, URA)
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