Two-bedroom penthouse at Suites at Orchard selling for $2.27 mil

Suites at Orchard is a 99-year leasehold development along Handy Road in prime District 9. The 118-unit development was finished in 2014. Situated in the Dhoby Ghaut location, the condo is additionally near the arts and also heritage districts along Bras Basah, Bencoolen Street and also Middle Road. The National Museum, the Singapore Management University university as well as the School of the Arts are also close by.

Suites at Orchard is the house closest to the Plaza Singapura buying mall, and also situated beside it is the Haus on Handy, which is anticipated to be completed following year. There is The Cathay Residences, which is component of the mixed-use growth The Cathay, a spots located at the end of Orchard Road.

Suites at Orchard gain from its proximity to the Orchard Road shopping belt as well as the arts and heritage area at Bras Basah and also Bencoolen Street.

Based on URA cautions, deals entailing penthouse devices at Suites at Orchard are uncommon. No systems of any size were offered between October 2018 and December 2020 as well as just 4 systems have actually been sold in the past 18 months. The most current deal was for a 732 sq ft device that was cost $1.4 million ($1,913 psf) on May 27.

The device features a routine design with an en suite bedroom, a common restroom as well as a second room. A tiny solution lawn is attached to the open-concept cooking area, which introduces the living and also dining room. A staircase in the living room brings about the upper floor and also a balcony beside the living-room dealing with Handy Road, while the upper floor consists of an unsheltered roof balcony. According to the residential property listing, the device is tenanted up until December 2023 and will be marketed with the existing tenancy.

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Nonetheless, the condo has actually had a steady rental track record. Up until now this year, at the very least 36 systems have been leased out, contrasted to at the very least 60 systems that were leased in 2021. A compilation of rental data over the past 12 months by EdgeProp Singapore shows that the ordinary rent is about $5.60 psf per month. EdgeProp Singapore also approximates that proprietors who lease out their systems enjoy an approximate rental return of 3.5%.

There are 16 penthouse systems at Suites at Orchard that vary from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom units. Much, the most pricey penthouse offered was a 1,485 sq feet, two-bedroom device that transformed hands for $2.7 million ($1,818 psf) in April 2016.

A two-bedroom penthouse device at Suites at Orchard is on the market for $2.27 million. The guide cost for the 1,367 sq ft device equates to around $1,660 psf based on the floor location. Based on URA caveats, transactions including penthouse devices at Suites at Orchard are uncommon. No systems of any size were sold in between October 2018 and also December 2020 and only four systems have actually been marketed in the past 18 months. Far this year, at the very least 36 devices have been rented out, compared to at the very least 60 systems that were rented in 2021.

A two-bedroom penthouse system at Suites at Orchard is on the market for $2.27 million. The guide price for the 1,367 sq ft device converts to around $1,660 psf based upon the flooring location. A proprietor’s sale, the system will be installed for auction by ERA Realty on July 26.

The Dhoby Ghaut area is served by Dhoby Ghaut MRT Station, which is an interchange offering the North-South, North-East and Circle Lines. Bencoolen MRT Station on the Downtown Line and Bras Basah MRT Station on the Circle Line are additionally nearby.

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