A 2,745-sqft, 3-bedroom apartment at District 10’s freehold condo Tomlinson Heights has set a new record for the development when it was sold for S$10.29m (about S$3749 psf) recently.
Located on a high floor with a fantastic view of Orchard Road and the city, this sale surpassed the condo’s previous record for its 3-bedders when two were sold at S$9.60m – one in March 2022 and the other in October 2021. The condo has a unit mix of 3-, 4- and 5-bedroom apartments.
“There were many factors that contributed to the buyer’s interest – namely the excellent location in District 10 and the fantastic view with low-density buildings around. The apartment was also on the ultra-high 31st floor with a spacious living environment and big balcony,” said the marketing agent from ERA, who clinched the deal.
Being in the heart of the prime district, just off Orchard Boulevard, the 70-unit luxury condominium, which TOPed in 2016, was developed by Yarra Investments from HPL Hotels & Resorts. HPL also jointly developed The Interlace and d’Leedon.
Tomlinson Heights is about a 6-minute walk to the upcoming Orchard Boulevard station (estimated to open by the 2nd half of 2022) on the Thomson-East Coast Line (TEL). Being close to the River Valley neighbourhood, nearby schools include Alexandra Primary, River Valley Primary and Crescent Girls’ School.
Besides the convenient location and view, when asked what would have convinced the buyer to pay the record price for the 3-bedroom apartment, the agent shared the following:
“I have seen more landed home owners in the market over the past few months, and most of these buyers are looking to right-size and realise the capital gains from their landed properties. There has also been a strong demand from Singaporean PRs looking for a high-end property in Singapore.
“With relatively more high-end units being made available in the market, buyers may be seizing this chance to snap up units that are rarely put up for sale, such as the three-bedroom apartment at Tomlinson Heights.”
According to the agent, the seller of the unit is a banker, while the buyer is a prominent property investor.
The actual unit was tenanted during the time of sale, so the buyer viewed a similar unit with the same layout. The option to purchase was made, and the buyer finalised the option after viewing the actual apartment. The duration took roughly around 2 weeks.
“Buyers at this end of the market have an eye for properties, and they make fast decisions when a rare property comes their way. Like art collectors, they recognise a prized buy when they see one,” the agent added.
In other words, expect more record-breaking deals in the private condo space in the coming months.
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