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

Parc Riviera Condo

Suites at Orchard is the residence closest to the Plaza Singapura purchasing mall, and situated close to it is the Haus on Handy, which is anticipated to be finished next year. There is The Cathay Residences, which is component of the mixed-use advancement The Cathay, a landmark located at the end of Orchard Road.

The Dhoby Ghaut location is offered by Dhoby Ghaut MRT Station, which is an interchange serving 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 likewise close by.

However, the condo has actually had a steady rental performance history. Far this year, at least 36 systems have actually been leased out, compared to at least 60 units that were leased in 2021. A compilation of rental data over the past 12 months by EdgeProp Singapore reveals that the ordinary rental fee is about $5.60 psf each month. EdgeProp Singapore likewise approximates that owners who rent out their units delight in an approximate rental yield of 3.5%.

Suites at Orchard take advantage of its closeness to the Orchard Road shopping belt and also the arts and also heritage district at Bras Basah and Bencoolen Street.

Based upon URA cautions, purchases involving penthouse systems at Suites at Orchard are unusual. No devices of any kind of dimension were marketed in between October 2018 as well as December 2020 and also just 4 systems have been marketed in the past 18 months. One of the most current deal was for a 732 sq ft unit that was sold for $1.4 million ($1,913 psf) on May 27.

A two-bedroom penthouse unit at Suites at Orchard gets on the marketplace for $2.27 million. The overview cost for the 1,367 sq ft device converts to about $1,660 psf based on the floor area. A proprietor’s sale, the unit will certainly be set up for auction by ERA Realty on July 26.

There are 16 penthouse devices at Suites at Orchard that vary from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom systems. Up until now, one of the most pricey penthouse offered was a 1,485 sq ft, two-bedroom unit that altered hands for $2.7 million ($1,818 psf) in April 2016.

Suites at Orchard is a 99-year leasehold growth along Handy Road in prime District 9. The 118-unit development was completed in 2014. Located in the Dhoby Ghaut location, the condominium is also near to the arts as well as heritage districts along Bras Basah, Bencoolen Street as well as Middle Road. The National Museum, the Singapore Management University school and the School of the Arts are likewise nearby.

The device features a routine format with an en suite bedroom, an usual washroom as well as a second bedroom. A tiny solution backyard is linked to the open-concept cooking area, which introduces the living and also dining-room. A stairs in the living room causes the top flooring and a terrace next to the living room dealing with Handy Road, while the upper flooring includes an unsheltered roof covering balcony. According to the home listing, the unit is tenanted up until December 2023 as well as will be sold with the existing tenancy.

A two-bedroom penthouse device at Suites at Orchard is on the market for $2.27 million. The overview cost for the 1,367 sq ft unit translates to about $1,660 psf based on the floor location. Based on URA caveats, transactions involving penthouse devices at Suites at Orchard are uncommon. No units of any type of size were sold in between October 2018 as well as December 2020 and also just 4 systems have been marketed in the past 18 months. Much this year, at least 36 units have actually been rented out, contrasted to at the very least 60 devices that were rented in 2021.

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