The 893 sq ft penthouse at Spottiswoode 18 (centre) will be put up for auction on Nov 23 (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - A one-bedroom duplex penthouse at Spottiswoode 18, located along Spottiswoode Park Road in prime District 2, will be put up for auction on Nov 23. It is an owner’s sale, with a guide price of $1.55 million, says Yvonne Lau, senior manager of auction and sales at ERA Realty Network, which is handling the auction.
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The penthouse measures 893 sq ft, translating to a guide price of $1,736 psf. The lower level of the penthouse has an en suite master bedroom, a kitchen, a bomb shelter, and a living and dining area that leads out to the balcony. The upper level of the penthouse, accessible through a spiral staircase from the balcony, features a roof terrace and a pool. The unit is currently leased out until October 2023 and will be sold with existing tenancy.
Completed in 2015, Spottiswoode 18 is a freehold development by Roxy-Pacific Holdings. The development comprises a single 36-storey tower with 251 residences. Units comprise one- and twobedders measuring between 387 sq ft and 1,324 sq ft. There are also nine penthouse units made up of one-bedroom duplex apartments ranging from 893 sq ft to 1,324 sq ft.
On Oct 19, an 893 sq ft, one bedroom duplex penthouse was sold for $1.28 million ($1,433 psf). Based on caveats lodged, other recent transactions included the sale of a 710 sq ft unit on the 33rd floor for $1.29 million ($1,810 psf) in May. In June, a 657 sq ft unit was sold for $1.42 million ($2,163 psf), while a 388 sq ft unit was sold for $880,000 ($2,271 psf) in July.
ERA’s Lau believes the unit to be auctioned will draw interest from local and expatriate singles and young couples who are attracted to the property’s location and the lifestyle offerings nearby, like the eateries and bars along Keong Saik Road and the Tanjong Pagar area. The unit may also attract investors, “given that its location and nearby amenities make it easy to rent out”, she adds.
Spottiswoode 18 is located in the Spottiswoode area, home to several condominiums. These include the 351-unit Spottiswoode Residences and the 183-unit Spottiswoode Suites located on Spottiswoode Park Road; and the upcoming Sky Everton on Everton Road, a 264- unit development scheduled for completion in 2023.
The Spottiswoode neighbourhood is part of a residential enclave located at the fringe of the CBD, close to the Tanjong Pagar, Chinatown and Outram areas. The enclave comprises a mix of public and private housing, including the 50-storey Pinnacle@Duxton — Singapore’s tallest public housing building — situated at the corner of Neil Road and Cantonment Road and the Everton Park housing estate. Spottiswoode 18 is located about 300m from the upcoming Cantonment MRT Station on the Circle Line, slated for completion in 2026. It is also near malls such as Tanjong Pagar Centre, 100 AM Mall and Icon Village.
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