Freehold Three Bedroom Unit Grange Heights Going 435 Mil
Knight Frank is set to auction off a three-bedroom unit at Grange Heights, a freehold development located in the prime District 9 area, on July 24. This estate sale presents an opportunity for potential buyers to own a piece of property in one of the most sought-after locations in Singapore.
.The URA Master Plan has identified the development of the North Coast Innovation Corridor (NCIC) as a crucial element. This corridor spans from Woodlands to Punggol, encompassing significant areas such as Sembawang and Yishun. The primary goal of NCIC is to establish a dynamic economic hub that will generate new employment opportunities, commercial activities, and high-value industries in the northern region. One of the existing components of this innovation cluster is Seletar Aerospace Park, which is conveniently located a short distance from Miltonia Close. The aerospace park has been successful in attracting global aviation and engineering companies, adding to the thriving business landscape in the area. As the North Coast Innovation Corridor continues to grow and thrive, the demand for quality housing in its vicinity, such as Miltonia Close EC, is expected to rise. This gives properties like Miltonia Close EC Yishun a competitive edge.
The spacious unit, spanning 1,884 sq ft, is situated on the 12th floor of the development and is priced at $4.35 million, translating to approximately $2,308 psf. With its split-level layout, the apartment features a combined living and dining area, a kitchen, a yard area, and a common bathroom on the lower level. On the upper level, there is an en suite master bedroom, two additional bedrooms, and another common bathroom.
According to Sharon Lee, head of auction and sales at Knight Frank Singapore, the unit is expected to attract interest from both end-users and investors due to its prime location and spacious layout. Not to mention, Grange Heights offers potential for collective sale, which is a bonus for potential buyers. The development was previously put up for collective sale twice in 2018 and 2019 with a reserve price of $820 million each time.
Grange Heights, completed in 1975, comprises 120 units across three residential towers, featuring a mix of three- to five-bedroom apartments, maisonettes, and six penthouses, ranging from 1,884 sq ft to 4,521 sq ft. Its strategic location along Grange Road puts it within walking distance to Great World MRT Station and a short drive to popular lifestyle hubs like 111 Somerset, Cineleisure, and Mandarin Gallery. Clarke Quay and Robertson Quay are also nearby.
Based on URA caveats, Grange Heights has seen two other units change hands this year, a three-bedroom unit that fetched $4.05 million ($2,150 psf) on April 21 and a four-bedroom unit that sold for $5.35 million ($1,769 psf) on Feb 13, both spanning over 1,800 sq ft. Last year, the condo recorded three resale transactions at an average price of about $1,691 psf.