Three-bedder at Fernwood Towers for sale at $2.88 mil
/ EdgeProp Singapore |
The 1,647 sq ft unit at Fernwood Towers will be put up for auction on Aug 15 (Picture: Knight Frank)
SINGAPORE (EDGEPROP) - A Strata three-bedroom unit at Fernwood Towers, a condo along Fernwood Terrace in District 15, will be put up for auction on Aug 15. An owner’s sale, the property has a guide price of $2.88 million, says Lock Sau Lai, senior manager, auction and sales, at Knight Frank, which is handling the sale and is the sole marketing agency for the property.
The unit measures 1,647 sq ft, which means the guide price works out to $1,749 psf. Lock says the apartment is a corner unit away from the lift lobby, offering privacy. Located on the 11th floor, the unit’s living area overlooks the intersection between Marine Parade Road and Siglap Road and has partial sea views.
Besides the three bedrooms, the unit includes a large kitchen, service yard, helper’s room and storeroom. Lock says that all the rooms in the apartment face either southeast or north, which means they avoid the harsh afternoon sun, while its high-floor location ensures the unit has ample natural light and ventilation.
Completed in 1994, Fernwood Towers is a freehold development comprising 216 condo units. It has four blocks on a site at the corner of Marine Parade Road and Siglap Road. The condo’s facilities include a swimming pool, children’s pool, squash court, playground, table tennis room, function room and a mini-mart.
Within 500M of Fernwood Towers, Seaside Residences has the highest average PSF: EdgeProp LandLens
In 2018, owners of Fernwood Towers attempted to put the development up for collective sale with a reserve price of $688 million but did not find a buyer.
The living area (Picture: Knight Frank Singapore)
Lock expects keen interest in the unit for auction, given Fernwood Towers’ location within the popular District 15 and its freehold status. It is close to Siglap Centre on Siglap Road, Siglap V on East Coast Road and Parkway Parade on Marine Parade Road, all within a 10-minute drive, while the East Coast Park is accessible via a seven-minute walk through an underpass tunnel. The condo is also about a six-minute stroll to the upcoming Siglap MRT Station on the Thomson-East Coast Line, which is expected to open in 2024.
The untenanted property will be sold vacant, offering the future buyer flexibility to occupy or rent out the unit. Based on URA data, recent rental transactions show three-bedroom units commanding monthly rents between $3,300 and $5,200.
The most recent unit to change hands at Fernwood Towers is a three-bedder measuring 1,636 sq ft, which was sold on June 28 for $2.7 million ($1,650 psf). Before that, a 1,195 sq ft unit was sold for $2.02 million ($1,691 psf) on June 6.
Check out the latest listings near Fernwood Towers, Siglap Centre, Siglap V, Parkway Parade, East Coast Park, Siglap MRT Station
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