Duplex penthouse at Parc Imperial for sale at $1.78 mil
A duplex penthouse at Parc Imperial in District 5 will go on the block at Edmund Tie’s next public auction on June 21. The unit is also available for private treaty negotiation. An owner’s sale, the 1,195 sq ft unit has a guide cost of $1.78 million, equating to $1,490 psf on the floor location.
Despite the brand-new projects, Parc Imperial commands a practical normal market price of concerning $1,766 psf, based on a collection of resale caveats over the last one year. One unit has been sold up until now this particular year– a 398 sq ft, one-bedroom unit that brought $735,000 ($1,845 psf) on April 27.
Parc Imperial is a freehold condominium on Pasir Panjang Roadway. The 138-unit property was finished in 2010 by local property developer Fragrance Group. It is 200m from Haw Par Villa MRT Terminal on the Circle Line. Major road connection in the location is with the West Coast Freeway and Pasir Panjang Roadway.
Additionally close-by is The Southern Ridges, a 10km park which links Mount Faber Park, Telok Blangah Hill Park, HortPark, Kent Ridge Park, Labrador Nature Reserve and also Henderson Waves, a pedestrian bridge going across at Henderson Road. The area will certainly also go to the doorstep of the upcoming Greater Southern Waterfront, that stretches across 30km of the southerly coast from Gardens by the Bay East to Pasir Panjang and also will include public and also exclusive real estate.
According to the real property advertisement, the unit will be sold with a presenting tenancy set to expire in December 2024. The lower floor surface comprises a living and food area with an adjacent balcony, kitchenette, household shelter, and lavatory. The upper flooring consists of the en suite master bedroom, a linked al fresco porch, and 2 separate en suite bedrooms.
Based upon resell warnings lodged in the last 5 years, one of the most costly unit that has actually changed hands at Parc Imperial is a 1,948 sq ft, three-bedroom duplex penthouse that was cost $1.95 million ($1,001 psf) in December 2021. This was followed by the sale of a 2,304 sq ft duplex penthouse for $1.78 million ($773 psf) in October 2020.
Pasir Panjang enjoys closeness to the recognized Mapletree Service City at Pasir Panjang Road, Alexandra Technopark at Alexandra Road, the National University of Singapore, and also the one-north business district.
A minimum of three brand-new projects have actually arised in the Pasir Panjang location near to Parc Imperial. In April 2018, The Verandah Residences by Oxley Holdings started to a sturdy first sales launch, with purchasers taking up 129 units (76%). The 170-unit property on Pasir Panjang Road was totally reselled by June by Oxley Holdings, followed up on The Veranda Residences’ results with its 250-unit Kent Ridge Hill Residences on South Buona Vista Roadway. On its launch day on Nov 10, 2018, it sold 110 units (44%). The property was 98% sold since July last year with an ordinary cost of $1,950 psf.
A tabulation of rental information at Parc Imperial by EdgeProp Singapore reveals that the condo regulates an average lease of $7.35 psf monthly (pm). This is high compared to adjoining developments for instance, The Orient at Pasir Panjang Roadway ($5.38 psf pm), Horizon Residences at Pasir Panjang Hill ($4.63 psf pm), along with The Peak @ Balmeg on Balmeg Hill ($4.03 psf pm).
The most recent new kick off in the area is the 270-unit freehold project Terra Hill. This condo situated on Yew Siang Roadway off Pasir Panjang Roadway was introduced in February this year, and buyers bought 102 units (38%) over the preliminary sales launch weekend break, setting a typical cost of regarding $2,650 psf.