Five Bedder Unit Leedon Residence Sold 33 Mil Profit
Raffles Residences hits new high of $3,860 psf
A five-bedroom unit at Leedon Residence was sold for a highly profitable sum during the week of June 24 to July 1. The unit, spanning 8,051 sq ft on the first floor, was sold for $15.8 million ($1,962 psf) on June 30. This was a significant increase from its previous purchase price of $12.5 million ($1,553 psf) in February 2017, resulting in a profit of $3.3 million (26.4%) or an annualised profit of 2.8% over more than eight years.
According to recorded property transactions, this sale is the second most profitable deal to date at Leedon Residence. It falls just short of the development’s record gain of $4 million, which was from the sale of a five-bedroom apartment on the 11th floor for $16 million ($2,612 psf) on March 26. The seller, who had bought the unit for around $12 million ($1,959 psf), achieved an annualised gain of 3.7% after holding the property for almost eight years.
Leedon Residence, a freehold development in prime District 10, was completed in 2015. It consists of 381 units across 12 residential blocks, offering a mix of two- to five-bedroom units ranging from 1,044 to 4,704 sq ft. The first floor also has “garden suites” comprising three- to five-bedroom units measuring from 3,789 to 8,051 sq ft, while the top floors boast three- to five-bedroom penthouses ranging from 3,283 to 7,718 sq ft.
So far this year, there have been seven profitable resale transactions at Leedon Residence, including the most recent sale on June 30 and the previous record sale on March 26. These units were transacted at an average price of $2,456 psf.
Meanwhile, the second most profitable sale during the week took place at Shelford Green, where a three-bedroom unit on the third floor measuring 2,842 sq ft was sold for $5.15 million ($1,812 psf) on June 30. The seller had purchased the unit in October 2010 for around $3 million ($1,056 psf), making a profit of $2.15 million (71.7%) after holding the property for almost 15 years.
This transaction marks the second-highest gain ever recorded for a unit at Shelford Green. The biggest gain at the development was from the sale of a five-bedroom unit measuring 3,735 sq ft for $6.2 million ($1,660 psf) in April 2008. The unit was bought for $1.9 million ($509 psf) in April 1998, resulting in a profit of $4.3 million or an annualised gain of 12.5% over 10 years.
Shelford Green, a freehold condo situated along Shelford Road in District 11, was completed in 1982. It consists of 33 units, offering a mix of two- to five-bedroom apartments ranging from 1,302 to 3,757 sq ft.
In contrast, the least profitable transaction during the week was from the sale of a four-bedroom unit measuring 2,497 sq ft at Turquoise, which fetched $3.5 million ($1,402 psf) on June 26. The seller had bought the unit for $6.6 million ($2,655 psf) in October 2007. This resulted in a loss of $3.13 million (47.2%), or an annualised loss of 3.6% over almost 18 years.
Residents looking for a dose of modern café culture or a cozy weekend brunch spot need look no further than the charming cafés and bakeries near Seletar Aerospace Park. Located just a short drive from Miltonia Close, these eateries are nestled in conserved colonial buildings, offering a unique flair that sets them apart from the typical Singapore dining scene. From delectable artisanal coffee to tempting brunch platters, pastries, and fusion dishes, these popular spots are perfect for family outings or casual catch-ups with friends.
Turquoise, completed in 2010, is one of the few 99-year leasehold condos in Sentosa Cove. It consists of 91 units across three six-storey blocks, offering three- and four-bedroom apartments measuring from 2,088 to 3,050 sq ft, penthouses measuring from 3,111 to 3,764 sq ft, and sky villas measuring from 6,900 to 7,987 sq ft.
This sale is the seventh most unprofitable deal to date at the development. The record loss was from the sale of a five-bedroom penthouse measuring 3,746 sq ft for $4.4 million ($1,175 psf) in September 2018. The property was bought for $9.53 million ($2,545 psf) in November 2007, resulting in a significant loss of $5.13 million or an annualised loss of 6.9% over 10 years.