SINGAPORE (EDGEPROP) - A three-bedroom penthouse at Spottiswoode Residences will be put up for auction by Singapore Realtors Inc (SRI) on April 26. An owner’s sale, this 2,486 sq ft unit on the 36th floor is priced at $5.38 million, translating to $2,164 psf on the floor area.
The upper floor of this duplex penthouse features a roof terrace with space for a jacuzzi and open-air decks. This floor also comprises an en suite junior master bedroom with direct access to the outdoor deck.
The lower floor of the unit features an en suite master bedroom and the third bedroom. A common bathroom is located on this floor. The kitchen leads to a small service yard, a toilet, and a bomb shelter. The rest of the space on this floor comprises the dining and living areas, which are connected to a sheltered balcony. SRI says the unit will be sold with an existing tenancy due to expire at the end of August.
Located at Spottiswoode Park Road in District 2, Spottiswoode Residences is a freehold development by the mainboard-listed UOL Group. The 351-unit project was completed in 2013. The unit mix mostly comprises one- and two-bedroom units, 25 three-bedroom units, and seven penthouses. The one- to three-bedroom units range from 592 sq ft to 1,421 sq ft, and the penthouses range from 1,281 sq ft to 2,906 sq ft.
Sited on the outskirts of the CBD and closest to the Tanjong Pagar and Outram neighbourhoods, Spottiswoode Residences is near the Singapore General Hospital at Third Hospital Avenue and surrounding medical institutions and buildings like Outram Community Hospital at Hospital Boulevard, National Heart Centre at Hospital Drive, and Duke-NUS Graduate Medical School on SGH Campus.
Spottiswoode Residences offers easy connectivity through nearby public transport and road networks. Outram MRT Interchange Station is less than 300m from the condo, serving the East-West, North-East, and Thomson-East Coast Lines. The upcoming Cantonment MRT Station, part of the last phase of the Circle Line, is less than 200m away and is expected to be operational in 2026.
Nearby public and private residential developments include HDB’s 50-storey Pinnacle @ Duxton on Cantonment Road, condos Spottiswoode Suites and Spottiswoode 18 on Spottiswoode Park Road, and the soon-to-be-completed Sky Everton on Everton Road. The conservation houses on Blair Road and Everton Road are located nearby. (Find HDB flats for rent or sale with our Singapore HDB directory)
When Spottiswoode Residences was launched for sale in November 2010, the project garnered an overwhelming response from buyers. The developer sold 130 (87%) of the 150 units initially released for sale. Sales continued to be brisk, and buyers bought up a total of 275 units (78% of the total number of units) after another three weeks. At the time, prices in the new launch ranged from $1,720 psf to $2,150 psf. URA caveats indicate that the unit on the block was bought from the developer for $4.58 million ($1,842 psf) in December 2010.
So far, there has only been one resale transaction at Spottiswoode Residences this year. It involved a 926 sq ft, two-bedroom unit on the 35th floor, which changed hands for $2.35 million ($2,539 psf) on April 6.
Last year, there were 10 resale transactions at the condo. Sales ranged from a 603 sq ft one-bedder on the 32nd floor that fetched $1.3 million ($2,157 psf) in September 2022 to a 936 sq ft two-bedder on the 17th floor that changed hands for $2.17 million ($2,317 psf) in December.
The most recent sale of a penthouse unit at Spottiswoode Residences was in March 2021, when a 2,906 sq ft, three-bedroom duplex was sold for $5 million ($1,720 psf). This unit had been bought from the developer for $4.25 million ($1,462 psf) in November 2014.
Based on a tabulation of resale caveats by EdgeProp Singapore, Spottiswoode Residences commands an average price of $2,175 psf. This is on a par with other freehold condos in the area, also built in the 2010s. For example, Spottiswoode 18 — completed in 2014 — has an average price of $2,120 psf, while Spottiswoode Suites — completed in 2017 — has an average price of $2,236 psf.
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