Leedon Residence’s double penthouse generates a $2.8 million profit

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J'Den by CapitaLand

One of the most lucrative resalesales deal that closed between February 28 to March 7 was selling of the 3,746 square feet, four-bedroom penthouse in a duplex located in Leedon Residence. The property was sold at $9.5 million ($2,536 per square foot) in March. The unit was bought at $6.7 million ($1,789 per sf) on the 19th of January the 19th of January. This means that the seller made an $2.8 million (42%) profit on the sale, which is equivalent to an annualized income in the range of 7.1% in five years.

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The deal is just a bit lower than the highest-profitable purchase at Leedon Residence in which a fifth-floor apartment with five bedrooms was sold for $12.5 million ($2,657 per square foot) during July of 2021. The unit had been purchased by the company for $9.6 million ($2,041 per square foot) at the end of October in 2017. Thus, it generated an unprecedented profit in the amount of $2.9 millions (30%), equating to an annual increase in the region of 7.2% over four years.

Leedon Residence The Leedon Residence top freehold condo located on Leedon Heights. The project was designed by the mainboard-listed property developer GuocoLand and was completed in 2015. The 381-unit development consists of eleven 12-storey blocks. The whole development is located on a vast 4.9ha site, one of the largest freehold parcels in District 10.

The region around has seen numerous new developments in recent times including the neighboring Leedon Green, Wilshire Residences, Hyll on Holland, and the mixed-use One Holland Village beside Holland Village MRT Station.

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Leedon Residence was created by architect Chan Soo Khian of SCDA Architects and the building is notable because of its emphasis on larger-sized unit layouts as well as its an emphasis on space and luxurious all over the site.

Leedon Residence is among the most recent luxury condominiums in the Leedon Farrer Road neighborhood, Leedon Residence also commands one of the most expensive average prices in the area with a price of $2,590 per square foot Based on URA cautions and other information that were compiled from EdgeProp Singapore.

Three of the upcoming developments -the Leedon Green ($2,848 psf), Wilshire Residences ($2,725 psf) as well as Hyll On Holland ($2,706 per sq. ft.) — have experienced more expensive prices than Leedon Residence.

The Leedon Residence has had three resales sales in the Leedon Residence so far this year. Two of them included a 2,659 square feet apartment on the 9th floor, which was sold for $7.2 million ($2,708 per square foot) on January 30, as well as a 2,648 square foot unit on the 9th floor, which traded hands to $7.35 million ($2,776 per sq ft) on February 14.

The week’s second highest-profit-making resale was held on D’Grove Villas in which the 1,690 square foot, fifth-floor unit was sold to the buyer for $4.3 million ($2,544 per square foot) the 2nd of March. This apartment was bought at $2.16 million ($1,277 per square foot) in 1995. The seller thereby earned a significant $2.1 million (95%) profit. This is equivalent to an annual increase in the range of 2.4% over a period of close to 28 years.

The D’Grove Villas is a freehold condominium located in District 10’s most sought-after. The 45-unit project was completed in 1992. It is located near the Ardmore Park as well as the Nassim Road residential areas, that have notable luxury condominiums like Le Nouvel Ardmore, Ardmore Park, Les Maisons Nassim and Nassim Mansion.

So far, the most profitable resales that have been sold of D’Grove Villas is a 5,221 sq feet unit that sold for $10.5 million ($2,011 per square foot) in June of 2010. The unit was purchased at $6.4 million ($1,226 per sq ft) on February 7, 2007. This means that the seller earned an all-time high profits in the amount of $4.1 million (64%), which is an annualized loss that is 16% over the course of three years.

The week’s most unprofitable deal took place on March 1st, with the sale of 883 square feet unit at the Sail at Marina Bay. The apartment on the sixth floor, with two bedrooms was purchased at $1.92 million ($2,175 per square foot) which was previously $2.3 million ($2,601 per square foot) in June 2011. In the end, the seller suffered an 16.5% loss, equating to an annualized cost in the range of 1.5% over a 12-year period.

The Sail is an 99-year leasehold condominium located on Marina Boulevard in the downtown core of District 1. The 1,111-unit development was the first residential high-rise development in Singapore First, a tower which was 70 stories, was unveiled in September 2004; the second tower with 64 storeys was unveiled one year later. Both towers were completed in the year 2008.

Based on caveats collected through EdgeProp Singapore, units in the condominium were selling at around $1,942 per square foot in March of 2018, but the price only climbed to $1973 per square foot this month.

Eight resales sales in The Sail so far this year. Sales have varied between $1.12 million ($1,892 per square foot) for an area of 592 square feet on the 32nd floor it was purchased on 3 March up to $2.6 million ($2,196 per sq ft) for 1184 square feet on the 46th level, which was purchased on Jan 26.

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