The 1,668 sq ft unit in Sentosa Cove will be put up for auction on May 24 (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - A three-bedroom apartment at The Berth by the Cove, a condo in the Sentosa Cove enclave, will be on the block on May 24. The property, an owner’s sale, has a guide price of $2.6 million, says Edmund Tie’s head of auction and sales Joy Tan, who is handling the sale.
The unit measures 1,668 sq ft, which means the guide price works out to $1,559 psf. It is currently tenanted, with the owner looking to sell the property with its existing tenancy, which will end in March 2025. “This makes the unit an ideal opportunity for investors looking for immediate rental returns,” says Tan. At the property’s guide price, the unit would give investors a rental yield exceeding 3%.
The property is on the second floor, with a private lift foyer and a balcony towards a tree-lined waterway. The unit has wet and dry kitchens and a household shelter, while the master bedroom has a separate balcony.
The Berth by the Cove is a 200-unit development along Ocean Drive that was completed in 2006 by Ho Bee Land. It was the first private condo to be launched in Sentosa Cove. Positioned as a residence offering resort-style, waterfront living, the development marked a milestone for luxury condos, with residents having access to facilities like private berths for yachts.
The 99-year condo has 15 low-rise blocks of six storeys each. Typical units at the condo comprise a mix of two- to four-bedders ranging from 1,012 sq ft to 2,271 sq ft. There are also penthouse units between 2,939 sq ft and 6,028 sq ft.
The development is near F&B outlets and retail offerings at Quayside Isle and One Degree 15 Marina Sentosa Cove. Other recreational and lifestyle facilities nearby include Resorts World Sentosa, Tanjong Golf Course, and malls like VivoCity and Harbourfront Centre. Meanwhile, the CBD is about a 10-minute drive away.
The most recent unit to change hands at The Berth by the Cove was in March when a 1,173 sq ft unit fetched $1.9 million ($1,615 psf). Based on caveats lodged, the unit had been purchased in July 2013 for $1.82 million ($1,550 psf), which means the seller netted a gain of around $77,000 on the transaction. Before that, three units had changed hands last December. The units, measuring between 1,668 sq ft and 1,884 sq ft, were sold for between $2.45 million and $3.15 million on an absolute basis or between $1,468 and $1,672 on a psf basis.
Check out the latest listings near The Berth by the Cove, Sentosa Cove