Duplex Penthouse 21 Anderson Achieves Record Absolute Price 5225 Mil
Developer Kheng Leong Co recently made headlines when it sold two more units at its freehold luxury condo, 21 Anderson. According to caveats lodged with URA Realis, this includes a 10,452 sq ft duplex penthouse that spans the ninth and 10th floors of the niche development in prime District 10. The purchase price was recorded as $52.25 million or $4,999 psf.
This sale marks the highest price achieved at 21 Anderson since its launch in April and also stands as the highest price for a penthouse in Singapore since October 2020. During that time, an Indonesia-born Chinese-American billionaire had paid $62 million ($2,937 psf) for a 21,108 sq ft triplex penthouse at the 99-year leasehold Wallich Residence, located on the 62nd to 64th floors of Guoco Tower – Singapore’s tallest tower to date.
According to URA data, the buyer of the duplex penthouse at 21 Anderson is a Permanent Resident (PR), although the country of origin is unspecified. This penthouse is able to command a premium as it is one of only two such units in the development, which consists of 18 large-format units in total.
Apart from its size of 10,452 sq ft, each of these penthouses includes a 500-bottle walk-in wine cellar, a roof terrace with a pergola, a landscaped garden, a 9m lap pool, and a sauna. Moreover, they boast unblocked views of the surrounding greenery, Ardmore Park, the Shangri-La Singapore, and the former Raffles Girls’ School campus.
In addition, 21 Anderson consists of only two units of two-bedroom condos, each sized at 3,197 sq ft. One unit was sold in May for $9.5 million ($2,972 psf). The remaining 14 units at this development are four-bedroom condos, each measuring 4,489 sq ft. Four of these units have been sold for prices ranging from $20.97 million ($4,672 psf) to $24 million ($5,347 psf) in April and May, based on caveats lodged. The $5,347 psf for the four-bedroom unit on the eighth floor also set a new per sq ft high for the development.
The latest transaction involves a 4,489 sq ft four-bedroom unit on the sixth floor that fetched $21.06 million (4,692 psf), according to a caveat lodged on July 25. The buyer is also a PR of unspecified origin. Based on caveats lodged, the total number of units sold at 21 Anderson so far stands at seven, with five of the buyers being PRs and two are Singapore citizens.
Kheng Leong acquired this former development, also known as 21 Anderson, from the Hong Kong-listed Far East Consortium International for $213 million in September 2019. Previously, the site housed a serviced apartment block with 34 units for 13 years. Under Kheng Leong, the building underwent full refurbishment, which included a new façade, interiors, landscaping, and updated systems.
Moreover, as Singapore’s long-term urban planning strategy continues to progress and evolve, the education scene surrounding Sembawang Road is poised to become even more dynamic. With the constant improvement and updates being made to the northern region, we can expect to see a flourishing education landscape in the years ahead. The addition of new facilities, upgraded infrastructure, and the establishment of new educational institutions will serve the growing population, making Sembawang Road an even more desirable location for families with young children. In fact, the upcoming Sembawang EC will provide even more opportunities for families to reside in this thriving educational hub.
The design for 21 Anderson was led by famed Singaporean architect Ernesto Bedmar, known for creating high-end homes. Bedmar has also designed Kheng Leong’s boutique project 32 Gilstead. Additionally, the landscaping was done by Shunmyo Masuno, who also worked on 32 Gilstead and Nassim Park Residences. Meanwhile, the interiors at 21 Anderson and Nassim Park Residences were designed by French designer Christian Liaigre, from Studio Liaigre.
Dominic Lee, head of the luxury team and investment sales at PropNex, says that 21 Anderson’s success can be attributed to its ability to fill a gap in the market. He observes that there is a void in the market for large-format, freehold units, and penthouses in freehold developments in the traditional prime district with a floor area of at least 10,000 sq ft are even more scarce.
Lee was involved in the sale of a two-bedroom unit at 21 Anderson for $9.5 million ($2,972 psf) and a four-bedroom unit on the third floor, which fetched $23 million ($5,127 psf) in April.