Three-bedder at Botanic Gardens View sold at $2.7 mil profit
By Nur Hikmah Md Ali
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The sale of a three-bedroom apartment at Botanic Gardens View was the most profitable condo resale transaction recorded during the week of Nov 7 to 14. The 1,410 sq ft unit on the first floor was sold for $3.55 million ($2,518 psf) on Nov 8. It was purchased by the seller in August 2003 for $880,000 ($624 psf). This means that the seller made a gross profit of $2.67 million or 303% upon selling the unit, which they had owned for slightly over 20 years.
This is the third most profitable resale transaction ever recorded at Botanic Gardens View, based on caveats lodged. The condo saw its most profitable sale in August 2019 when a 1,615 sq ft three-bedder changed hands for $4.07 million ($2,521 psf). The seller, who had purchased the unit for $930,000 ($576 psf) in September 2001, made a profit of $3.14 million.
The 1,410 sq ft unit at Botanic Gardens View changed hands for $3.55 million ($2,518 psf) on Nov 8 (Photo: Samuel Isaac Chua/EdgeProp Singapore).
Botanic Gardens View is a freehold condo on Taman Serasi, off Cluny Road in prime District 10, Tanglin. It was completed in 1970 and features 144 units. The condo is located near schools such as Raffles Girls’ Secondary School and Crescent Girls’ School. It is also close to the Orchard Road shopping belt.
The second most profitable transaction during the week in review took place at The Anchorage. On Nov 9, a three-bedroom unit occupying 1,798 sq ft was sold for $3.58 million ($1,992 psf). The seller had purchased the unit in May 2006 for $1.08 million ($601 psf). This means that they netted a gain of $2.5 million or 231% over 17½ years.
The sale marks the most profitable resale transaction at The Anchorage. It beats the previous record profit of $1.77 million netted from the resale of a 2,077 sq ft, four-bedroom apartment in February 2020 for $3.17 million ($1,526 psf). The seller had bought the unit for $1.4 million ($674 psf) in October 1995.
The seller of a 1,798 sq ft unit at The Anchorage made a gain of $2.5 million after it fetched $3.58 million ($1,992 psf) on Nov 9 (Photo: Samuel Isaac Chua/The Edge Singapore).
Located along Alexandra Road in Queenstown, District 3, The Anchorage is a freehold condo consisting of 775 units across five residential blocks. It was completed in 1995 and was a redevelopment of F&N Singapore’s old Anchor Brewery site. The condo is located adjacent to the Anchorpoint Shopping Centre, opposite Ikea Alexandra. It is within walking distance of Queenstown MRT Station on the East-West Line.
Meanwhile, the most unprofitable condo resale transaction during the period in review was the sale of a 2,842 sq ft four-bedder at Cliveden at Grange. The apartment was sold for $9.8 million ($3,449 psf) on Nov 14. The seller had acquired the 20th-floor unit in December 2007 for $11.55 million ($4,066 psf), indicating a loss of $1.75 million (15%). They had owned the unit for 16 years.
A 2,842 sq ft apartment at Cliveden at Grange was sold for $9.8 million ($3,449 psf) on Nov 14, with the seller netting a loss of $1.75 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This sale is the condo’s ninth most unprofitable resale transaction. It is also the second resale transaction to take place at Cliveden at Grange so far this year; in May, a 2,842 sq ft, four-bedroom unit changed hands for $8.1 million ($2,850 psf), with the seller suffering a loss of $1.4 million.
Cliveden at Grange is a freehold condo along Grange Road in prime District 10 that was completed in 2011. The condo is located near the iconic Orchard Road shopping belt and comprises 110 residential units. These include a mix of three- to five-bedroom units of 2,153 to 6,028 sq ft.
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