A 2,325 sq ft, four-bedroom unit at Tanglin View, off Ale xandra Road in District 3, is up for sale at $3.2 million ($1,376 psf).
According to Gwen Lim, senior manager with the residential prime sales team at Knight Frank, the owners are a retired couple who wish to sell off their unit. “They are downsizing, as age is catching up with them and they find the apartment a bit too big to manage,” she says. The couple bought the property when Tang lin View received its Temporary Occupation Permit in 2001.
Lim describes the unit as a “rare find”, as similar-sized units in the development are seldom put on the market. It overlooks the prime Good Class Bungalow (GCB) estate in the Chatsworth, Bishopsgate and Rochalie Drive neighbourhood. This means future owners are unlikely to have their views obstructed by new high-rises.
The 99-year leasehold property is on a high floor and therefore has unobstructed views. The apartment contains four bedrooms and a study. As the unit faces northeast, “there will be a bit of sunlight coming in in the morning”, says Lim. The kitchen has been newly renovated and installed with Miele appliances; the bathroom is fitted with a Jacuzzi by Hansgrohe and a rain-shower panel.
Tanglin View is in a central location, near amenities and the city centre. The development is a nine-minute walk to Redhill MRT station on the East-West line, and a seven-minute drive to the Orchard Road shopping belt.
A similar-sized unit at Tanglin View achieved a rental income of $8,000 in March. Therefore, Knight Frank expects the 2,325 sq ft unit that is up for sale to fetch monthly rents of $7,000 to $8,000.
There have been 21 resales at Tanglin View so far this year. Units sold ranged from 1,141 to 2,121 sq ft. The most recent transaction was that of a 1,249 sq ft, three-bedroom unit on the 11th floor, which changed hands for $1.68 million ($1,345 psf) on Nov 23. On the same day, a 1,141 sq ft, three-bedroom unit on the second floor was sold for $1.4 million ($1,227 psf). So far this year, units at Tanglin View have changed hands at an average price of $1,283 psf.