Tag: martin modern enquiry

Draycott Eight Unit Sees Loss

A 2,863 sq feet system in Draycott Eight that was marketed on May 14 posted the highest possible loss of $1.1 million (16%) for the week of May 8 to 15, inning accordance with URA caveats. The four-bedroom system on the 12th floor altered hands for $5.9 million ($2,061 psf), compared with its acquisition rate of $7 million ($2,445 psf) in November 2007. This translates right into an annualised loss of 2% over a holding duration of 10.5 years. In 2015, seven from an overall of eight transactions at Draycott 8 were unlucrative, with losses ranging from $150,000 to $3.28 million. The average deal cost was $1,729 psf. The sole successful transaction was for a 2,896 sq feet four-bedder, where the seller made a gain of $402,580 (9%). At The Draycott, a 132-unit estate growth near Draycott 8, the average price of the three purchases last year was $1,633 psf. A 2,637 sq ft system brought $4.39 million ($1,665 psf) in November. At neighboring The Arc at Draycott, a 58-unit property development finished in 2008, the average purchase cost in 2015 was $2,192 psf. The highest psf price negotiated there was for a 2,638 sq ft system, at $6 million ($2,275 psf) in August 2007. Also close to Draycott Eight is 1 Draycott Park, which was offered en bloc for $72 million to Champsworth Development, a subsidiary of Selangor Dredging. The sale price shows a land rate of concerning $1,787 psf each plot proportion, inclusive of a development charge estimated at $15.3 million. The new 64-unit growth, called One Draycott, is anticipated to be launched later this month.

Situated in the prime Martin Modern @ Orchard road neighbourhood in Area 9, two 30-storey towers with a total of 450 units, all of which comes with a view of the gardens, the city or the Singapore River, situated on a 1.6 hectare land size. Finished in 2021, the project by GuocoLand Limited has two block of two-bedroom to four-bedroom apartment, with sizes varying from 764 to 1,798 sq ft. In September 2017, a fund handled by Alpha Investment Allies apparently marketed 22 units en bloc to US alternate investment manager Angelo Gordon for over $100 million, or at an average rate of $1,700 psf. Over at Astrid Meadows, additionally in District 10, a 2,056 sq feet device that was sold on May 10 tape-recorded the highest possible revenue for the week, at $2.34 million (186%), inning accordance with cautions lodged. The vendor bought the three-bedroom, third-floor unit in May 2004 for $1.26 million ($613 psf) and also marketed it for $3.6 million ($1,751 psf), or an annualised gain of 8% over a 14-year holding duration. In 2014, eight purchases at Astrid Meadows saw revenues varying from $217,200 to $3.1 million. There was just one unprofitable transaction, in which the vendor of a 2,433 sq ft system experienced a loss of $63,000. Astrid Meadows is a 208-unit freehold apartment on Crowning Road West. Created by Parkway Land, it was finished in 1990. It is a four-minute drive from the Holland Town MRT terminal.