Penthouse at UE BizHub City rakes in $2.2 mil profit

, topping annual list
The most profitable transaction from Sept 26 to Oct 10 was the sale of a five-bedroom penthouse at UE BizHub City (formerly known as UE Square). On Oct 6, the 3,089 sq ft unit, on the 18th floor, was sold for $6.28 million ($2,031 psf). This translates to an annualised gain of 3.1%, skyrocketing over the previous record of $4 million, set at the same development in June 2018.

Senja Residences EC offers an abundance of convenient amenities close to your doorstep. With a pool, clubhouse, gym, tennis court and even a BBQ pavilion, you will have plenty of recreational options to choose from. You can host gatherings with friends and family at the furnished function rooms, or pamper yourself and relax in the sauna. Senja Residences is an ideal place to come home to after a long day. It is conveniently located near educational institutions, shopping malls, eateries, and entertainment outlets. Plus, public transport is easily accessible with 10 minutes’ walk to the nearest MRT stations such as Jelapang MRT, Choa Chu Kang MRT, and Yew Tee MRT. Moreover, the developer provides a complimentary shuttle bus service to the Bukit Panjang Downtown MRT.

The second most profitable sale occurred at The Chuan, a 999-year leasehold condo on Lorong Chuan. A 1,367 sq ft three-bedroom unit, on the 20th floor of the building, was sold for $3.02 million ($2,208 psf) on Sept 29. The unit had been bought for about $992,000 ($726 psf) in October 2006, resulting in a profit of $2.03 million (204%), or an annualised gain of 6.8% over 17 years. This is also a record profit at The Chuan.

On the other hand, Marina Bay Suites saw the most unprofitable transaction during this period. A 1,615 sq ft unit, on the 37th floor of the 66-storey residential tower, was sold for $3.15 million ($1,951 psf) on Sept 27. The unit had been bought for $3.8 million ($2,357 psf) back in June 2010, resulting in a loss of $656,000 (17%), or an annualised loss of 1.4% over 13 years. This marks the seventh unprofitable resale at Marina Bay Suites this year, with the greatest loss standing at $1.13 million.

Located in the Robertson Quay area, the flagship building of United Engineers (UE) – UE BizHub City – was completed in 1997. A mixed-use development, it comprises an 18-storey office building with a four-storey shopping podium, as well as a pair of 18-storey residential blocks. Resale residential prices at UE BizHub City have seen significant increases over the past few years, with the average price standing at $1,986 psf. The condo is close to Fort Canning MRT Station on the Downtown Line and is next to eateries along Robertson Quay and Quayside.

The Chuan, another condo located near Lorong Chuan MRT Station, is a 106-unit establishment completed in 2007. Schools nearby include St Gabriel’s Primary School, Nanyang Junior College and Australia International School. There have been nine transactions at The Chuan this year, with two propelling profit and seven sustaining loss.

Marina Bay Suites is a 99-year leasehold development on Central Boulevard in the Marina Bay financial district. Completed in 2013, it has 221 typical residences ranging from 1,572 to 2,691 sq ft.