Duplex penthouse at Parc Imperial for sale at $1.78 mil

A duplex penthouse at Parc Imperial in District 5 will certainly be 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 price of $1.78 million, equating to $1,490 psf on the flooring area.

Pasir Panjang enjoys proximity to the recognized Mapletree Business City at Pasir Panjang Roadway, Alexandra Technopark at Alexandra Roadway, the National University of Singapore, and the one-north downtown.

According to the real property advertisement, the unit will be marketed with an existing tenancy about to end in December 2024. The reduced floor surface comprises a living and dining area with a nearby porch, kitchenette, house shelter, and powder room. The upper flooring consists of the en suite master bedroom, a connected open-air terrace, and 2 different en suite bedrooms.

At least three brand-new ventures have sprung up in the Pasir Panjang area near Parc Imperial. In April 2018, The Verandah Residences by Oxley Holdings opened to a strong first sales launch, with customers taking up 129 units (76%). The 170-unit property on Pasir Panjang Roadway was fully sold off by June by Oxley Holdings, followed up on The Veranda Residences’ success with its 250-unit Kent Ridge Hill Residences on South Buona Vista Road. On its launch day on Nov 10, 2018, it sold off 110 units (44%). The property was 98% sold off since July last year with an ordinary rate of $1,950 psf.

The Arden price

An inventory of rental information at Parc Imperial by EdgeProp Singapore presents that the condominium commands a common rental fee of $7.35 psf per month (pm). This is high contrasted to adjoining property developments for instance, The Orient at Pasir Panjang Roadway ($5.38 psf pm), Horizon Residences at Pasir Panjang Hillside ($4.63 psf pm), and The Peak @ Balmeg on Balmeg Hillside ($4.03 psf pm).

In spite of the brand-new projects, Parc Imperial regulates a practical average market price of regarding $1,766 psf, based on a collection of resale caveats over the past year. One unit has actually been offered so far this particular year– a 398 sq ft, one-bedroom unit that fetched $735,000 ($1,845 psf) on April 27.

Additionally neighboring is The Southern Ridges, a 10km park which links Mount Faber Park, Telok Blangah Hill Park, HortPark, Kent Ridge Park, Labrador Nature Reserve and Henderson Waves, a pedestrian connection going across at Henderson Road. The area will certainly also go to the doorstep of the upcoming Greater Southern Waterfront, which extends around 30km of the southerly coast from Gardens by the Bay East to Pasir Panjang and will certainly consist of public and private property.

Based on resale caveats lodged in the past 5 years, one of the most pricey unit that has changed hands at Parc Imperial is a 1,948 sq ft, three-bedroom double 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) around October 2020.

Parc Imperial is a freehold condominium on Pasir Panjang Roadway. The 138-unit venture was completed in 2010 by district developer Fragrance Team. It is 200m from Haw Par Villa MRT Station on the Circle Line. Significant road connectivity in the area is through the West Coast Highway and Pasir Panjang Road.

The most recent new release in the area is the 270-unit freehold property Terra Hillside. This condo positioned on Yew Siang Road off Pasir Panjang Road was introduced in February this year, and also buyers got 102 units (38%) over the preliminary sales launch weekend, setting an average cost of about $2,650 psf.

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