Four Bedder Ardmore Park Sold 3 Mil Profit

During the week of Sept 24 to Oct 1, a four-bedroom apartment was sold at Ardmore Park, a freehold condo in District 10, making it the most profitable condo resale transaction. The unit, measuring 2,885 sq ft on the 23rd floor, was sold for $12.7 million ($4,402 psf) on Oct 1. This was a significant increase from the sale price of $9.7 million ($3,363 psf) when the seller purchased the property in September 2010. The seller made a profit of $3 million on the sale, equivalent to a capital gain of 30.9%, or an annualised profit of 2.2% over a holding period of approximately 14 years.

Ardmore Park is a prestigious, 330-unit freehold condo located in the prime Ardmore Park area of District 10. Completed in 2001, it boasts three 30-storey towers and offers a range of luxurious units including 2,885 sq ft four-bedroom apartments and six 8,740 sq ft duplex penthouses.

This year, there have been four other profitable resale transactions at Ardmore Park. Three of these units sold for gains of at least $6.5 million. In February, a 2,885 sq ft unit was sold for $12.9 million ($4,472 psf). The seller had purchased the unit in July 1996 for $5.83 million ($2,022 psf), resulting in a profit of approximately $7.1 million.

An 2,885 sq ft unit at Ardmore Park was sold for $12.7 million ($4,402 psf) on Oct 1, making it the most profitable condo resale transaction during the week of Sept 24 to Oct 1. (Picture: Samuel Isaac Chua/)

Another unit measuring 2,885 sq ft was sold for $12 million ($4,160 psf) on July 24. The seller had bought the unit in December 2000 for $5.2 million ($1,803 psf), making a gain of $6.8 million. On April 22, a third 2,885 sq ft unit was sold for $12.5 million ($4,333 psf). The seller had acquired the unit in February 2007 for $6 million ($2,080 psf), earning a profit of $6.5 million.

The Belvedere also saw a profitable resale transaction during the week. A 1,302 sq ft, three-bedroom unit on the seventh floor was sold for $3.09 million ($2,371 psf) on Sept 24. The seller had previously purchased the unit from the developer in October 2006 for about $968,000 ($743 psf), resulting in a profit of $2.12 million, equivalent to a capital gain of 219%. The seller owned the unit for nearly 18 years.

This is the third biggest gain recorded at The Belvedere, based on caveats lodged. The highest profit was made on a 2,766 sq ft unit sold in a sub-sale in June 2007 for $4.9 million ($1,771 psf). The seller had bought the unit from the developer in April 2005 for $2.18 million ($788 psf), making a profit of $2.72 million.

The Belvedere is a freehold condo located on Meyer Road in District 15. Completed in 2007, it comprises two residential blocks and 167 units. Units range from two-bedroom apartments measuring 1,012 sq ft to 1,206 sq ft to three-bedroom units measuring 1,238 sq ft to 1,615 sq ft. It also has seven penthouse units measuring 2,131 to 2,949 sq ft. The development is adjacent to the upcoming Katong Park MRT Station on the Thomson-East Coast Line.

The sale of a 1,302 sq ft unit at The Belvedere for $3.09 million ($2,371 psf) on Sept 24 was the third most profitable condo resale transaction during the week of Sept 24 to Oct 1. The seller made a profit of $2.12 million. (Picture: Samuel Isaac Chua/)

This year, there have been five other resale transactions at The Belvedere, all of which have been profitable. Units were sold at prices ranging between $2,121 psf and $2,486 psf, with sellers earning gains ranging from $600,000 to $2 million.

The most unprofitable condo resale transaction during the week of Sept 24 to Oct 1 was at Scotts Square, where a 947 sq ft, two-bedroom unit on the 41st floor was sold for $3.18 million ($3,357 psf) on Sept 27. The seller had purchased the unit from the developer for about $4.1 million ($4,324 psf) in August 2007, incurring a loss of approximately $916,000 (22.4%) after owning the unit for about 17 years.

This sale followed a similar loss just one week earlier. On Sept 20, a three-bedroom unit measuring 1,238 sq ft was sold for $4 million ($3,231 psf). The seller had bought the unit from the developer for around $5.14 million ($4,155 psf) in August 2007, resulting in a loss of $1.14 million.

Scotts Square is a freehold condo located on Scotts Road, just off the famous Orchard Road shopping belt in District 9. It is part of a mixed-use development that includes the Scotts Square shopping mall. The condo comprises two towers, 34 and 43 storeys respectively, sitting on top of a four-storey retail podium. Completed in 2011, it houses 338 units ranging from one-bedders measuring 624 sq ft to 635 sq ft, two-bedders measuring 893 sq ft to 947 sq ft, and three-bedders measuring 1,249 sq ft to 1,238 sq ft. It is within walking distance of the Orchard MRT Station on the North-South and Thomson-East Coast Lines.

The Orie, developed by The Orie CDL, boasts a prime location in close proximity to multiple Mass Rapid Transit (MRT) stations. Among its many standout features, one of the most impressive is its convenient access to transportation. Situated just a stone’s throw away from the Toa Payoh MRT Station, which is part of the North-South Line, residents of The Orie can easily reach key commercial and leisure destinations such as Orchard Road, Raffles Place, and Marina Bay. Moreover, the nearby Braddell MRT station adds even more convenience and flexibility to residents’ commutes, ensuring efficient and reliable transportation options.