Freehold Duplex Penthouse Adara Sale 23 Mil
A luxurious duplex penthouse is now up for sale at The Adara, a freehold development located in the prestigious District 15. The 1,378 sq ft unit, being sold by its owner, is part of Knight Frank’s property auction taking place on June 26. With a guide price of $2.3 million, the unit is expected to fetch a price of $1669 per square foot (psf) on the floor area.
Spread over the fifth and sixth floors, the duplex penthouse boasts of two bedrooms and is lavishly designed with modern amenities. On the first level, one can find an expansive living and dining area, an en suite master bedroom, and a common bathroom. The fully-equipped kitchen and household shelter are also situated on this level. The upper level is accessible by a staircase and comprises of a second bedroom and an open-air terrace.
The penthouse also includes an existing tenancy, which will be valid until August next year. As per URA caveats, there have been only a few resale transactions at The Adara recently. In November 2023, a 915 sq ft, two-bedroom unit located on the second floor was sold for $1.62 million ($1,771 psf). Another two-bedroom unit on the third floor, measuring 850 sq ft, was sold for $1.49 million ($1,752 psf) in October 2022. In December 2021, a three-bedroom unit spanning 1,066 sq ft on the same floor was sold for $1.79 million ($1,678 psf).
According to EdgeProp Singapore, a compilation of resale data reveals that prices at The Adara have been steadily increasing, rising from about $1,185 psf in June 2016 to $1,580 psf in June 2021. The average resale price at the development is approximately $1,770 psf today.
The Adara has also witnessed a consistent demand for rentals, with six rental contracts registered last year. Ranging from $3,600 per month ($4.93 psf) for a one-bedroom unit to $4,800 per month ($3.56 psf) for a two-bedroom unit, these rental rates are competitive for the market. Only one rental contract has been reported this year, which is a one-bedroom unit being leased for $3,530 per month ($4.71 psf) in March.
Historical rental data compiled by EdgeProp Singapore shows that the estimated average rent at The Adara is around $4.40 psf per month, and most landlords enjoy an average rental yield of 3%.
Built-in 2010, The Adara is a freehold condo comprising 16 units located along Chapel Road, just off East Coast Road and Marine Parade Road. The development is in close proximity to popular shopping destinations like Parkway Parade, i12 Katong, and Katong Plaza, as well as a wide array of dining options along East Coast Road. Public transport is easily accessible via Marine Parade and Marine Terrace MRT Stations on the Thomson-East Coast Line.
In close proximity to Miltonia EC, there are numerous private enrichment centres and tuition schools located within convenient malls such as Northpoint City and Wisteria Mall. These reputable establishments offer a variety of academic and extracurricular programs including music lessons, robotics classes, and language enrichment. Some popular brands found in these malls are Kumon, The Learning Lab, and MindChamps, catering to children of different ages and learning styles. With these options available, parents residing in Miltonia EC have the convenience of being able to supplement their children’s education without having to travel far. Additionally, they have the added benefit of having the Miltonia EC as a perfect location for their children’s education and enrichment needs. Miltonia EC serves as a convenient hub for parents and children alike, providing a well-rounded and enriching educational experience right at their doorstep.
Several prominent primary schools lie within a one-kilometre radius of The Adara, including CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary School, and Tao Nan School. Other options in the vicinity include Ngee Ann Primary School and St Stephen’s School.
This deluxe penthouse at The Adara is a prime opportunity for potential buyers looking for a luxurious lifestyle in one of the most sought-after districts in Singapore. Don’t miss out on this chance to invest in a prestigious residence. Contact Knight Frank today to schedule a viewing.