Four-bedder at Ardmore II rakes in $2.1 mil profit

The most profitable transaction recorded during the week of Feb 7 to 14 was the sale of a four-bedroom apartment at Ardmore II for $6.28 million ($3,103 psf). The 2,024 sq ft unit on the eighth floor was purchased from the seller in October 2006 for $4.21 million ($2,082 psf), netting them a gain of $2.07 million (49%) over a 16-year holding period. Located in the exclusive Ardmore Park area Tampines Ave 11 Condo in Singapore, Ardmore II is a freehold luxury development by Wheelock Properties consisting of 118 units.

The Senja Close EC second most profitable transaction during the week of Feb 7 to 14 was a 1,421 sq ft unit on the 13th floor of Regency Suites. It was sold for $2.97 million ($2,089 psf) on Feb 9 and was originally purchased in November 2005 for $970,000 ($683 psf). The seller made a gain of 206%, or just under $2 million, across a holding period of over 17 years. Regency Suites is a freehold development along Kim Tian Road, off Tiong Bahru Road in District 3, and comprises a mix of one- to four-bedders with units ranging from 592 to 4,532 sq ft.

Conversely, the most unprofitable transaction during the week occurred at The Sail @ Marina Bay. On Feb 10, a 689 sq ft one-bedder was sold for $1.47 million ($2,132 psf), which was below its June 2010 purchase price of $1.76 million ($2,555 psf). The seller recorded a loss of around $291,000. The Sail @ Marina Bay is a 99-year leasehold luxury condo located on Marina Boulevard in District 1. It consists of two towers with units ranging from 592 to 2,185 sq ft, as well as penthouse units ranging from 3,391 to 6,297 sq ft.