Spottiswoode Residences is selling a three-bedroom penthouse for $5.38 million

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Read more: At Kampong Bahru Road, two connected shophouses are listed for $18.8 million.At Kampong Bahru Road, two connected shophouses are listed for $18.8 million

At Kampong Bahru Road, two connected shophouses are listed for $18.8 million.At Kampong Bahru Road, two connected shophouses are listed for $18.8 million

A three-bedroom penthouse in Spottiswoode Residences is scheduled to be auctioned through Singapore Realtors Inc (SRI) on the 26th of April. The property is being sold by the owner. 2,486 square feet unit located on the 36th level is listed in the range of $5.38 million, which is equivalent to $2,164 per square foot of floor area.

The second first floor in this penthouse duplex has the roof terrace, which has room for a spa and open-air decks. This floor also has an en-suite junior master bedroom that has directly access to an deck.

The lower level of the house has the master bedroom with a bathroom and a third bedroom. The bathroom shared by all is on the same floor. The kitchen is connected to small service yards as well as a toilet, and an underground bomb shelter. The rest of the room on the first floor is comprised of living and dining areas which connect to a balcony that is protected. SRI claims that the apartment will be sold along with an existing tenancy set to expire by the end of August.

The property is located in Spottiswoode Park Road located in district 2, Spottiswoode Residences is an undeveloped freehold project by UOL Group, a mainboard listed UOL Group. The project of 351 units has been completed since 2013. The mix of units consists mostly of onetwo-bedroom and one-bedroom units as well as 25 three-bedroom units as well as seven penthouses. The one-to three-bedroom units vary from 592 sq feet to 1,421 square feet, while penthouses can range from 1,281 sq feet to 2,906 sq feet.

It is situated on the outskirts of the CBD and near Outram and Tanjong Pagar. Tanjong Pagar and Outram neighbourhoods, Spottiswoode Residences is near the Singapore General Hospital at Third Hospital Avenue and the surrounding medical establishments and buildings such as Outram Community Hospital located at Hospital Boulevard, National Heart Centre located at Hospital Drive, and Duke-NUS Graduate Medical School located on the SGH Campus.

Spottiswoode Residences has easy access with nearby public transportation and roads. Outram MRT Interchange Station is just 300m away from the condominium, and serves passengers on the East-West, North-East, and Thomson-East Coast Lines. The forthcoming Cantonment MRT Station, part of the final section of the Circle Line, is less than 200m away, and is scheduled to open in 2026.

Nearby private and public residential projects include HDB’s 50-story Pinnacle at Duxton located on Cantonment Road, condos Spottiswoode Suites and Spottiswoode 18 on Spottiswoode Park Road and the soon-to-be-completed Sky Everton on Everton Road. The conservation homes located on Blair Road and Everton Road are also located close by.

The first time Spottiswoode Residences was launched for sale in November of 2010, the project received an overwhelming response from potential buyers. The developer has sold 130 (87%) of the 150 units originally released to the market. The sales continued to be strong and buyers picked up an impressive the 275 models (78% of the total amount of units) over the course of three weeks. Prices for the new launch varied from $1,720 to $2,150 per sq ft. URA restrictions indicate that the property was acquired by developer developer in exchange for $4.58 million ($1,842 per sq ft) in December 2010.

There was only one resale at Spottiswoode Residences in the last year. It involved a 926 square feet, two-bedroom apartment on the 35th floor that was sold at $2.35 million ($2,539 per square foot) on the 6th of April.

In the last calendar year there were ten sales of resales at the condo. There were sales ranging from a 603 square foot one-bedder located on the 32nd floor which sold for $1.3 million ($2,157 per sq ft) during September of 2022. It was followed by the 936 sq feet two-bed unit at the 17th level, which traded hands at $2.17 million ($2,317 per sq ft) at the end of December.

The most recent penthouse unit that was sold in Spottiswoode Residences was made in March 2021. A 3,906 sq feet, three-bedroom duplex was bought to a buyer for 5 million ($1,720 per square foot). The unit was purchased by developers developer in November 2014 for $4.25 million ($1,462 per square foot) in November 2014.

Based on a calculation of resales caveats provided from EdgeProp Singapore, Spottiswoode Residences is averaging $2,175 per sq ft. It is in line with other freehold condos within the region, and was built in the decade of 2010. For instance, Spottiswoode 18 — built in 2014 has an average of $2,120 psf. Spottiswoode Suites that was completed in 2017 has an average of $2,236 per square foot.