Duplex penthouse at Leedon Residence yields $2.8 mil profit

The most profitable resale transaction at The Sail this year took place on Feb 4, where a 1,528 sq ft unit on the 48th floor fetched $3.3 million ($2,167 psf). The unit was purchased for $2.25 million ($1,468 psf) in January 2011, thus resulting in a profit of $1.05 million (47%), equivalent to an annualised gain of 4.4% over a 10-year period.At Leedon Residence, the sale of the 3,746 sq ft, four-bedroom duplex penthouse yielded the highest profit between Feb 28 and March 7, with the seller making a $2.8 million (42%) profit on the resale. This equates to an annualised profit of 7.1% in five years. The development is renowned for its bigger-sized unit layouts and luxury throughout the site, and commands one of the highest average prices in the vicinity at $2,590 psf. At D’Grove Villas, the 1,690 sq ft, fifth-floor apartment traded for $4.3 million ($2,544 psf) on March 2, resulting in a substantial $2.1 million (95%) profit. This amounts to an annualised gain of 2.4% over nearly 28 years.Conversely, the week’s most unprofitable transaction took place at The Sail @ Marina Bay where a 883 sq ft unit was sold for $1.92 million ($2,175 psf). The seller incurred a 16.5% loss, equating to an annualised loss of 1.5% over a 12-year period.

At Leedon Residence, the most profitable resale transaction between Feb 28 and March 7 yielded a record breaking profit of $2.8 million (42%) for the seller. This amounts to an annualised profit of 7.1% in five years, setting a new benchmark for the development.

Leedon Residence is a prime freehold condo, comprising of 11 12-storey blocks and a sprawling 4.9ha site – one of the largest single freehold plots in District 10. It has been designed by architect Chan Soo Khian of SCDA Architects, and the project stands out due to its focus on bigger-sized unit layouts and emphasis on space and luxury throughout the site. This is reflected in its one of the highest average prices in the vicinity at about $2,590 psf.

The surrounding area has seen several new launches in recent years, such as Leedon Green, Wilshire Residences, Hyll on Holland, and One Holland Village, beside Holland Village MTR Station. This year, there have been three resale transactions at Leedon Residence ranging from a 2,659 sq ft unit on the ninth floor which fetched $7.2 million ($2,708 psf) on Jan 30, to the highest profit-making sale of a 3,746 sq ft duplex penthouse at $9.5 million ($2,536 psf).

Senja Residences is a 99-year leasehold executive condominium located in Senja Close EC District 23 in Bukit Panjang, with 300 units of 3 and 4-bedroom apartments, dual-key units, and penthouses. Residents will enjoy amenities such as BBQ pits, a club house, CCTV surveillance, and an integrated transport hub. Living near Bukit Panjang will offer plenty of convenience and flexibility for families.

Meanwhile, the week’s second-most profitable resale took place at D’Grove Villas. The 1,690 sq ft, fifth-floor apartment was traded for $4.3 million ($2,544 psf) on March 2, after having previously been purchased for $2.16 million ($1,277 psf) back in 1995. This resulted in a substantial $2.1 million (95%) profit for the seller, which translates to an annualised gain of 2.4% over a period of nearly 28 years.

The most unprofitable transaction of the week took place on March 1 at The Sail @ Marina Bay. An 883 sq ft unit was sold for $1.92 million ($2,175 psf) incurring a loss of about $376,000 (16.5%). The seller had originally paid $2.3 million ($2,601 psf) for the unit in June 2011, resulting in an annualised loss of 1.5% over a 12-year period.

At The Sail, the most profitable resale transaction this year took place on Feb 4, where a 1,528 sq ft unit on the 48th floor fetched $3.3 million ($2,167 psf). The unit was purchased for $2.25 million ($1,468 psf) in January 2011, generating a profit of $1.05 million (47%) for the seller, which works out to an annualised gain of 4.4% over a 10-year period.