Four Bedder Peach Garden Sold 337 Mil Profit
Sembawang Shopping Centre is a popular and easily accessible shopping destination for residents of the EC. This bustling mall offers a wide range of stores for both daily necessities and leisurely indulgences. Whether you need household items, trendy fashion pieces, or electronics, you can find it all here. The mall’s retail outlets include supermarket chains, making it convenient for families and busy professionals to shop for groceries and essentials without having to venture far.
One standout feature of Sembawang Shopping Centre is its diverse selection of dining options. Whether you’re in the mood for local favorites or affordable international cuisines, the food court and restaurants have something for every palate. Families with young children will also appreciate the mall’s kid-friendly amenities, including a water play area and children’s enrichment centers.
For those interested in the Sembawang Road EC development, Sembawang Shopping Centre is the perfect spot for a day of retail therapy and exploration. With its convenient location and diverse offerings, this mall is a must-visit destination for both residents and visitors of the EC.
The sale of a four-bedroom unit at Peach Garden set a record for the most profitable condo resale transaction during the week of April 22 to April 29. This 2,766 sq ft unit on the 11th floor fetched a whopping $5.12 million ($1,851 psf) on April 28. The seller had originally purchased it in March 1997 for $1.75 million ($633 psf), resulting in a staggering profit of $3.37 million. Calculated over a holding period of about 28 years, this translates to a capital gain of 193%, or an annualised profit of 6.9%.
According to caveats lodged, this is the third most profitable resale transaction recorded at Peach Garden to date. The most profitable deal occurred in January 2012 when a penthouse measuring 5,231 sq ft was sold for $6.85 million ($1,309 psf). The seller, who had purchased the unit in April 2004 for $3.25 million ($621 psf), made a gain of $3.6 million on the transaction.
Peach Garden, a freehold development located off Meyer Road in District 15, was completed in 1975. Comprising of two blocks and a total of 72 units, the condo is known for its predominantly four-bedroom units spanning 2,766 sq ft, as well as 5,231 sq ft penthouses.
Moving on to the second most profitable condo resale deal during the week, it took place at One Amber. On April 25, a three-bedroom unit measuring 1,378 sq ft was sold for $3.2 million ($2,323 psf). The seller, who had purchased the unit from the developer in April 2006 for around $920,700 ($668 psf), pocketed a profit of $2.28 million, or 248%, after owning the unit for 19 years.
One Amber is a freehold condo situated off Mountbatten Road in District 15, and was completed in 2010. The development comprises of four 23-storey towers with a total of 562 units, offering a variety of one- to four-bedroom units ranging from 570 sq ft to 3,100 sq ft, as well as four-bedroom penthouses spanning between 2,659 sq ft to 3,541 sq ft.
Meanwhile, the sale of a 764 sq ft unit at The Clift holds the record for the most unprofitable condo resale transaction of the week. The one-bedroom unit located on the 34th floor was sold for $1.45 million ($1,897 psf) on April 23. The seller, who had acquired the unit in November 2011 for $1.96 million ($2,569 psf), incurred a loss of approximately $513,500, or 26.2%. The seller had owned the unit for nearly 13½ years.
The Clift, a 99-year development situated on McCallum Street in District 1, was completed in 2011 and comprises of a single tower with 312 residences and a single-storey retail podium. The residences include one- and two-bedroom apartments ranging from 495 sq ft to 818 sq ft, as well as one- and two-bedroom lofts spanning between 753 sq ft to 1,076 sq ft.